Hi, I spoken to the loan people yesterday for a 7k loan for consolidation purposes. I have poor credit from my student days, and have a default on my account from 5 years ago from Vodafone due to an unpaid bill of £49. This has caused my credit rating to tumble and i am unable to get a loan from any of the high street banks.

the loan people gave me figures over 3,4 and 5 years and told me the repayments. it was as if i was already approved for the loan. i agreed on 5 year term, and then i was told that i would have to pay a one-off set-up fee of £49.99. because i was convinced that the loan funds would be in my account within 5 working days, i agreed to pay the set-up fee and gave the man my credit card details, the £49.99 being debited from my credit card straight away.

today i realised that i did not take the apr from the man, in fact he didnt even mention it, so i rang the customer service line. i gave him my reference, and he told me that the APR was 19.9% typical. it was at this point that i realised that the loan people were in fact brokers, and that my loan was in fact still not agreed by anyone!

after realising this, i looked for reviews from this company on the internet, and the only mention i can find is on this site.

has anyone had any luck with these people, or are they just a scam?

please help before i sign and return the paperwork that is on its way tp me through the post. i am desperate :(

Tell us the blody comparation site so I could speak with them. I will be happy to make an enquiry.

Eugen

can anyone tell me out come of this as i was thinking of going to apply for a loan with this company but now i don't know what to do. thanks

When i say outcome i also mean have you recieved your monies and such ?

I am a bit wary of the whole thing to be honest.

GR_08:Hi, don't worry they aren't fake after all. Though they are very hard to get in touch with. They never responded to any of my emails. It took them over two weeks to send me a letter informing me of the outcome as well.

What was your outcome, i am recieveing forms from them tomorrow and don't want to be sending them off if i dont have a chance of acquireing the amount i have agreed with them.

PM me if you can on here, if not then please reply.

thankyou : )

Hi, don't worry they aren't fake after all. Though they are very hard to get in touch with. They never responded to any of my emails. It took them over two weeks to send me a letter informing me of the outcome as well.

HI,

I have also just sent my paperwork and payment to the loan people. this situation is really starting to bring concern so please let me know the outcome.

Thanks

that was my thinking too. Thanks for your help, will let you know how I get on.

Not the same company though, you can have the same name unless the company is a registered entity. I would call Mortgage Sense in Stockport and cause a fuss :)

I found that strawberry studios is also called Mortgage Sense and they are on the FSA's register

Hi....many companies can use different names but must be an authorised alias of the parent company. See if any of the mortgage brokers listed on the link have trading names listed in the FSA register??

Hi again,

I put the company's reference number into FSA's website and the company are not on the FSA's register.

The address is for a mortgage company and they probably front the loan company.

http://www.google.co.uk/search?hl=en&q=++++waterloo+road+SK1+3BD&btnG=Search&meta=cr%3DcountryUK%7CcountryGB

Too may companies use this address might be worth checking this out with FSA???

Hi,

thanks for the reply!

I sent the forms back to:

The Loan People
First Floor, Front Office
3 Waterloo Road
Stockport
SK1 3BD

I sent them in the self addressed envelope that came with them.

Their actual website is www.the-loan-people.co.uk

I too came across www.theloanpeople.org when I was looking for their site in google.

What was the address that you sent the froms back to? Many loan companies have fronting names and are hide to find. I found theloanpeople.org, is this site familiar??