Loan scams: what to look out for

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"I'VE been contacted by a company which offered to find me a loan in return for a fee. How can I tell whether or not the offer is legitimate?"

More lenders and, as in this question, credit brokers than ever are now operating solely online.

Many sites are legitimate but some are scams, taking money or bank details to arrange loans that will never appear and leaving victims with no way to recover the cash or simply bombarding people than enquire about loans with calls and texts.

In this guide we take a closer look at these loan fraudsters.

How can you spot a scam? And what should you do if you've lost money to a fake loans site?

How to spot a loan scam

As we said above, it can be very hard to spot a fake loan or credit brokerage site.

We all know the names of the big banks, but most of us probably don't know the names of even some of the biggest online lenders.

Many are mostly found through Google searches and taken at face value.

That level of trust, plus the fact that many people looking for loans need to borrow quickly and feel that they have very few options, has made this market an easy mark for fraudsters.

So the best advice is simply this: be very wary.

Here are five things anyone looking to take out or find a loan online should be wary of.

1. Never trust an offer solely based on calls, texts or emails

As in the question above, many people who get caught out by loan scams are contacted by a lender directly.

If this happens, whether it's by text, email or through a phone call, it should set alarm bells ringing. Legitimate lenders just don't contact people out of the blue.

It might be worth following the next four steps to check the lender out but it's probably not, this is very suspicious behaviour.

2. Ask: 'is this too good to be true?'

However you come across a lender the next step is to ask: 'is this offer too good to be true?'

Many legitimate lenders offer loans for those with poor credit history but guaranteed loans, one any applicant will be approved for regardless of their credit history do not exist (more here).

Similarly, extremely low interest rates on short term loans do not exist and most real lenders in this market cannot offer very large loans.

Deals that seem too good to be true are usually just that.

However, that is not to say that it's ok to assume that offers that are similar to the big lenders are safe.

Loan fraud is growing ever more sophisticated so it also pays to check for other signs that the company is legitimate.

3. Check for an Interim Permission and other signs of real world presence

All lenders and companies offering to find their customers a loan in return for a fee in the UK must be registered with the Financial Conduct Authority (FCA), which has regulated small lenders and brokerage firms since April 2014.

As we update this article, in early July 2014, all of these firms must have an Interim Permission number from the FCA in order to keep lending. This will be the same as their old Consumer Credit Licence (CCL) number, which was the Office of Fair Trading (OFT) system.

As firms become fully authorised they may show an FCA registration number instead.

Either way, you can check this number through two databases the FCA Interim Permission register and, for fully authorised firms, the FCA firm search.

The listing will show a registered address, which you can check against the site, and sometimes a phone number or other form of contact, like an email, which, again, could be checked against the site or person you're looking at.

4. Check again

These checks have never been more important because some fraudsters have started stealing the registration numbers of legitimate lenders and using their names, or very similar names, as well as other forms of identification like addresses, what's known as a 'clone loan' scam.

The only way to guard against them is carrying out the checks above and being, as we said in point one, being especially wary of phone calls by, for example, hanging up and calling back on the lender's main number.

5. Be wary of paying upfront

Ultimately, the biggest sign of a potential scam is the upfront payment.

Fake lenders (not credit brokers) have given the following reasons for asking for cash - from £35 to £2,000, according to Citizens Advice - up front.

All of these were scams. Remember that an additional payment is 'upfront' up until the point at which you've got your borrowed money in your account.

According to Teresa Perchard of Citizens Advice, "once you've parted with your money there is little chance of getting it back.

"We urge people to be very wary of signing up for loans that require a payment upfront - the chances are this is a scam."

This rule is a bit problematic, however, because throughout this article we've been talking about credit brokers as well as lenders and credit brokers are allowed to take a fee to set up borrowing.

So another form of fraud is that a broker will take a fee, promising a loan, and then fail to deliver.

This is illegal under the Consumer Credit Act 1974 section 115 (full wording here) which says that if a broker fails to deliver a promised loan within six months the maximum they can keep is £5. All other monies must be refunded.

By promised loan we also mean a loan that is unsuitable, for example, because it's not for the right amount or costs too much, consumers have a right to reject these loans and still receive their fees back (minus £5).

However, as in many of the other examples we've looked at, it can be hard to convince a malicious, or simply incompetent, lender or broker of what they 'should' do.

Been caught out by a loan scam? What to do next

Hard, but not impossible.

Report it

Action Fraud will be very pleased to take calls from anyone who has sniffed out a scam or suspects fraudulent activity.

They can be contacted on 0300 123 2040 or you can report your suspicions through an online form on the Action Fraud site.

Regaining money lost through fraud

When money is lost through loan fraud the chances of recovery are slim.

Alison Preszler, a spokesperson for the Better Business Bureau, agrees that making a legal case against loan companies is often difficult.

"Most of them are online", she says, "so the scam website is up one day and down the next, and the perpetrators have moved on."

However, banks may be able to help. Read more on liability in fraud cases in this guide.

Getting back brokerage fees

As we noted above, anyone who has paid money to a broker to arrange a loan that hasn't materialised within six months is perfectly entitled under law to ask for their money back.

If the lender won't cooperate with this after several attempts it may be worth reporting them to the FCA Consumer Helpline on 0800 111 6768.

It's worth keeping copies of any correspondence sent to and received from the broker to establish grounds for a complaint.

It may also be worth contacting an independent consumer charity such as Citizens Advice for some support with the claim.

Stopping nuisance calls

While it may sometimes seem like loans companies can somehow smell debt, the truth is that they often share people's personal details between themselves.

According to Citizens Advice, one of their clients even began to be contacted by loans companies after applying for a loan from his bank.

The result of this eager sharing between loans companies is an intrusive barrage of cold calls, texts, emails and letters. Citizens Advice said that a staggering 840 million cold calls were made by debt management firms in 2009.

There are strong ways to fight back against nuisance calls, though. Our guide on stopping spam calls and texts has more information on how to get rid of the aggravation for good.

Get money help

Many of these loan scams target people who are desperate for further borrowing because they are already troubled by debt problems.

If that sounds familiar then now is the time to seek help.

This article is a comprehensive guide on where to go for free debt help in the UK.

Options for repaying debt include informal arrangements of payments to creditors over a set period of time, as well as more formal individual voluntary arrangements. Both easily beat borrowing to pay for borrowing.

Stopping fake loans

When we first wrote this article in 2012, we said that the increase in fake loans had been bought about by the economic downturn, which caused the average household's finances take a savage beating and credit to become harder to come by.

In retrospect, while that was clearly a factor, a bigger driver has been the growth in the payday loans industry, which has thrived online and which is easily imitated by fraudsters and fed by credit brokers.

Citizens Advice said that their bureaux received 490 complaints about credit brokers alone in June and July 2013 and about 3,000 cases involving brokers over that whole year.

In 2014, it feels like we're turning a corner on this.

The FCA took over regulation of the payday and credit brokerage markets in April and has promised to get tough on lending and introductions to lenders.

We'll see how that goes but with caution, since previous regulators have also promised action on this issue.

In 2011, Consumer Focus made a super complaint to the Office of Fair Trading (OFT) about fake or ill functioning credit brokerage and loan firms.

In response, the OFT said it would crack down on firms that advertise loan or loan sourcing services but do not hold consumer credit licenses.

The OFT released new credit brokerage guidance and revised debt management guidance in December 2011 which has resulted in revised rules for those working in the loans sector and an increased risk of those failing to meet a good standard of customer service having their credit licence revoked, but little really changed.


13 October 2017

"Trusted Quid" - Anyone been through them?

22 July 2017

'247 Moneybox' has agreed to an £80 loan but are asking for long card number, expiry date and security number to verify my card and to be able to take repayment? Is this legit?

2 November 2017

I've used them before, they're ok.

4 September 2017
Andrea Procter

I have used them regulary for last 8 months and I am very happy.

17 June 2017
Joyce robertson

I applied for a loan from Johnson phd, I paid money upfront for insurance which I stupidly paid. Are they a reputable loan company?

5 June 2017

<a href=";cuid=2412393" rel="nofollow noopener" title="">http://www.british-lenders....</a>

These people I believe are a scam site. They request an insurance payment upfront.

18 March 2017

Has anyone ever heard of 'Blue Money Loans'? Thanks.

18 August 2017

I had the same company - gave my name and address, and they were confirming I banked with Halifax, and when I refused to give them any account information he kept rattling off how they don't want my card info just my account number to confirm I have a UK account, and to set up a direct debit. I kept asking for their email address, and he said hold the line, whilst I could hear him rustling papers to sound busy. He came back on and said the loan was processing, so what was my account info again. He would not give me a website or anything I could research so I hung up.

8 March 2017
Matthew Foote

Do not use 'Uk fast loans' - 02081445889. They took &pound;250 from me and promised me a loan which they didn't deliver. They lied to me several times and it is a total scam.

14 January 2017
nisha narendrakumar

Has anyone heard of Diamond Vehicle Finance (also known as Diamond Project Finance)? I am doing research on them to see whether I can trust to get loan from them.

3 October 2016

Don't pay an upfront fee, I was going to get a loan with diamond loans. Said I have to pay a &pound;75 up front fee and it will get refunded with my loan. Then when I went to pay it he advised me that I have to go and put 75 pound on an apple iTunes card and give him the code. Straight away I knew there wasn't something right so I confronted him about it and he completely avoided answering my questions. Don't go with DIAMOND LOANS, lucky enough I didn't do anything stupid

17 October 2016

Jason is the name? He called me and said to put &pound;150 on card i Tunes. I think this is a scam?

21 September 2016
Jesse boylan

I just got a call from a loan company since I applied for a loan, it was about an hour discussion and they ran my credit score and realised it was low due to a collections bill. They then said they want to make sure I am financially stable enough to show I can afford at least 2 payments (I wanted a 3000$ business loan) they claimed it was "credit loan solutions". So he asked me to go and buy 3 100$ paysafecards. And I asked if he will need my account number and he said no, they just want to get a verification code to make sure I'm not broke, and the money is there. Any thought or advice would be great

30 August 2016

Has anybody got a loan

27 August 2016

Has anybody got a loan from Adexec loan and financial

9 August 2016
Pauline perry

Hi I applied for a loan online and today I've had a call from loans in a flash. Anyone heard of this company? They said I could have any amount from 1000-5000, I said &pound;1500 was enough and they said its &pound;100 a month for 24 months but they needed a month in advance. They have given me an account number to transfer the &pound;100 and say once this is paid they will give me a loan of &pound;1500. I'm thinking this is a scam, the man I spoke to was called Wayne Smith and name on the bank account was a Miss R Jones.

5 September 2016
Choose team

Thanks for getting in touch - you're right to be suspicious. We did a quick online check into Loans In A Flash - and on their own website they say that they're aware of people receiving the kind of call you did. Report this call, and all the details you have, to <a href=";cuid=2412393" rel="nofollow noopener" title="">Action Fraud</a>.

20 May 2016
Michelle Smith

Hi, I was contacted by a company called <a href=";cuid=2412393" rel="nofollow noopener" title=""></a>, they approved a loan for me and said I have to pay the 1st instalment up front which stupidly I did, they then called me back and said that I had to go to the post office and pay a tax of &pound;699.00 which they would refund me back in ten minutes, after telling them no, they were very persistant even lowered the tax amount and the interest rate of the loan, I said no, they said they would refund me the money I have already paid lets see?? I have contacted my bank. I have to say they were very convincing, but I couldnt find their address on the internet and just alarms bells were ringing.

12 May 2016

loan harbour fraud

23 March 2016
Becca Sadd

Has anyone been scammed by a always finance? Me and my partner think we may have been they have taken &pound;560 and yet still no loan.

4 December 2015
Tracy Stirling

Has anyone been offered a loan from loans to you ?

4 December 2015
Tracy Stirling

Has anyone been phoned from a company called loans to you ?

17 November 2015

Has anyone ever dealt with loan power before and did they receive their loan?

14 November 2015
Jordan Barker

I have been approved by a loan and they want the first month's instalment as a deposit to release the money. It's only &pound;86 but I have had friends do this before and all OK but after reading this I am very worried any ideas?

29 October 2015

I have been asked to pay my first instalment of &pound;96.94 to loan power to relieve a loan of &pound;2000 within 30 to 40 minutes after payment has been made. Has anybody else used them? I've found their address online but can't really find anything else about them. I can't really afford to make the payment if I'm not getting the loan, can anybody help?

1 December 2015
william wiuca

Do not deal with people from Loan Power, they are crooks, they are using Mark Fry identity, they have taken &pound;610 from my friends in Leeds. They are using this phone number 0207-193-7996. They have an English accent, Indian accent and Pakistani accent as well. My name is William Wiuca.

17 November 2015

Did you happen to get the loan off this company because I've just paid the first instalment and have not received the funds and now they are telling me I have to pay &pound;220 for insurance on the loan which will be paid back to me and I don't want to go through with it if I'm not going to be getting the loan.

1 December 2015
william wiuca

From wiuca william, be careful with Loan Power limited, they are using Director Mark Fry details to rob people, they are a well organised network of crooks. They asked for upfront payment, PPI and tax. Then they said it will come back in payment of the loan. They are using this telephone number: 0207-193-7996. I have contacted Director Mark Fry, he said he does not know anything about that and people need to be very careful. The email they are using is

24 October 2015

Hello to anyone who will listen or help me to get a claim going on a scam that I was suckered into and know I am in debt because I had fork over 560 dollars up front and I never got it because they wanted more money up front. Plus they didn't speak English that well at all and their phone kept cutting out on me as well I have their business name and half of their info so what do I do?

23 October 2015
Callum Gino Moore

Has anyone heard of <a href=";cuid=2412393" rel="nofollow noopener" title=""></a> are they scammers they've took &pound;119 saying the money will be in my account tomorrow.

16 October 2015
Gemma eades

I was trying to get a loan, got refused by all of the main payday loans, etc because of my credit rating. I had a phone call from a company called Financial Live, saying they could give me the money I needed but I had to pay &pound;160 upfront fee, I said, if I had that kinda money, I wouldn't be asking for a loan, can't pay that. Then they asked me if a family member could lend me the fee. I thought that was right dodgy for them to ask that, how dare they! All the people I spoke to had an Indian accent, and did not know much English, so ended up putting phone down and blocking caller. Also avoid moneyBox loans. If they seem too good to be true, they are. Makes me so mad that people can get away with this. But there is no way I'd pay money upfront to get a loan.

15 August 2015
ryan charlton

Stay clear of UK same day loans, just got stung.

10 August 2015

Loanstoyou asked me to pay &pound;155 as first month payment and then the loan funds would be transferred to my account within 2-3 hours. Any advice would be much appreciated.

6 July 2015

I'm an ex soldier, and would love to be able to hunt these fraudsters down, preying on single mums and pensioners, how low can you get?

1 July 2015
John Croll

I have been offered a loan by a company called cashflex but they want me to pay the first instalment upfront. Should I proceed?

9 June 2015

I had a phone call off Light Loans and they said I could have a &pound;1000 loan if I paid &pound;30 upfront and then they asked for another &pound;50 but they sent me my loan contract out to my email, is this a scam?

8 June 2015

I just got accepted by light loans asked for &pound;30 upfront, I asked if it was a scam didn't give them the fee but got my details. Something needs doing about these companies scamming people. I was scammed a while ago for &pound;120 upfront in ukase vouchers, but can't get my money back. I am gutted as I'm a single parent to a 2 year old not happy !!!!!

5 June 2015

uronlinelender. com too... unsure if this is a clone scam but Indian staff asking for all my card details saying I'm a 100% approved with no credit check... (absurd considering what my score is at the moment).

5 June 2015

Beware of this fraud company.

30 May 2015
daniel bossman

Apparently I have fallen for their trap. So miserable and I have not recovered, they took &pound;290 from me.

15 May 2015

Do not go with a company called light loans. They offered me &pound;1000 loan, they said I need to pay the first payment upfront of &pound;106 so I did. I didn't get my loan. They gave me a false email address and they won't give me my money back. I am getting the police and any fraud company I can find involved if I don't have a refund by tomorrow. I've had to block my card in case they try taking anymore. Avoid Light Loans.

28 May 2015
Katie F

Thank you for this I just had a call from these asking for a ukash voucher for &pound;30 then as soon as I pay this they will put the money in my account. I won't be going any further now, thank you!

14 May 2015
John Banksy Banks

Hi, I applied for a loan and got accepted with a guarantor with a company called TrustTwo loans and you couldn't sign the agreement without them activating it after been on the phone they knew everything about us though, like if we had finance ect and said the funds will be in the account within 3 days, so Saturday or Monday if a working day. Can anyone tell me if this company is legit because they have my partner and my dad's bank details because the money goes into my dad's bank account to prevent fraud. She seemed legit on the phone knew every thing we had debts etc but I'm always wary of these things they didn't take our bank details until everything was done though and signed. Then it went to the underwriters before they said it had been paid out and would take 3 days to clear. Are they legit as we got accepted for a &pound;2500 loan with them?

7 December 2015

Was it a good loan company ?

29 April 2015
Lucy clark

I had a company called UK cash loans I usually ignore the calls because they trade under several different phone numbers and company names, they started off by telling me I had qualified for a &pound;2,000 loan, I stopped this person called Jennifer Adam who I might add was Indian, I told her I would not pay fees for a bank transfer, insurance or first month payment on the loan I also gave false bank details because I've been scammed before and was threatened by a bogus company but I gave as good as I got, but this woman Jennifer said I will now hand you over to my manager I had to put my phone on silent because I couldn't stem my laughter he introduced himself as RICHARD BANKS what a laugh he could hardly pronounce one English word he had a very strong Indian accent, the end result was he asked me for &pound;100 so he could make sure I was not trying to get a loan then not pay it!! I eventually told him I was a police woman and he had just been scammed, that's what I call poetic justice.

15 March 2015

Does anyone know about Just Paid Me Loan Firm? I have sent a mail for inquiry and they replied but they are asking me to pay $1550. What do you think? Is there anyone here who knows a legitimate loan firms to apply to?

11 March 2015

Hi, I've been offered a loan of &pound;500 but they want me to buy ukash voucher of &pound;30 then said they will put money in my bank. They're called Perfect Loans, can anyone tell me if it's a scam?

26 March 2015

Please don't even attempt buying the ukash vouchers, I lost &pound;500 in one day, each time they kept saying voucher didn't go through... I've never recovered from that loss. In short they are broad daylight thieves, having reported the case to the police who managed to trace a location in London it was discovered they use uk local numbers but are not even based here in England. How i'd like to get my hand on them thieves.

7 March 2015

Hi, I just applied for a loan with cash max they told me I had to wire them money through money gram to verify the loan I wired them $1000 and when it came to get my money they keep putting me on hold and ducking me what can I do?

6 March 2015

Has anybody heard about austine jeff who will provide loans? Is that a scam? He asked me to deposit 12110 rs and he wiill give 5lac. Please can anybody guide me.

18 February 2015

Hi, I'm from Namibia, and it seems like those scamsters are all over the world! I recently applied for a loan online from a company called Fast Approval Loans. Please beware of this company, after I applied I started smelling that something was not right when they informed me the loan was approved but they insisted that I must pay them a certain fee before they can proceed. I made it clear to them that I caught them out and also reported them. I never heard of them again. I had given them my details already, but informed my bank and had to change my details immediately! Lesson learned!

30 January 2015

Hi, does anyone know about Loanspotter? They took &pound;59.80 off me for a &pound;700 loan?

13 January 2015
sherea bowman

When I was asked to give the money upfront I asked what was there licence number and website. They gave me a fake address that lead me to someone's home. I said I was turning them in and they were still in acting mode and said I should not miss out on the offer they are providing...

8 January 2015

I've just been scammed &pound;477 from Solutionloans. My own stupid fault, very harsh lesson learnt. The audacity of these people who do this is incomprehensible. The scammers even phoned me today, didn't give them chance to say anything. All receipts and information. I have informed the police, Citizens Advice and my bank. Even though I won't get my money back and I should really have known better, I had to do something and go down every road possible with this. Everyone scammed should report it, eventually they will get stopped.

30 December 2014

Hi, I filled in an online enquiry form for a loan a few weeks before Christmas just to see how much it would be, only to be contacted by AK FINANCE or AK MANAGEMENT or 24/7 MONEYBOX. All seem to be the same company whose sales person rattled through a load of sales talk about getting me a loan, and an &pound;89 fee. I specifically asked how that worked and was told I would be sent an email shortly and would only be charged if I proceeded to click into the download links on the email, which I have never done as I did not wish to pay &pound;89. Several phone calls followed, each time they were told I did not want their services, only for them to take the &pound;89 from my account on CHRISTMAS DAY, yes christmas day (who does that)? All this amounts to is THEFT and FRAUD, scam companies that should not be allowed to operate, I have tried phoning them several times to complain and each time being put in a calling queue only for the line to go dead. I eventually got to speak to someone who refused to refund my money saying I had started the process and had agreed to this in the phone call that they had taped (so I asked them to play the phone call and provide proof of it which low and behold they said they couldn't do) and proceeded to try and offer me another loan!!! I have sent emails, which are now being returned as not sent (they have blocked my email address, my calls are being ignored) and to top it off my bank said there was nothing they could do even though the payment was still pending in my account. Raging, how are companies such as AK Finance allowed to trade and rip off families at any time never mind Christmas Day.

21 January 2015

I also got an unauthorised &pound;89 debit from AK Management AKA Moneyessentials. Unauthorised debits can be returned via the charge back procedure of the Mastercard/Visa system. Just contact your bank.

After I complained to AK Managemnet via email and mentioned the option of a charge back, AK Management called and refunded immediately the money taken. They never issued a receipt only after insisting, not showing any VAT.

They that they are operating nearly outside the law, but the terms charge back and TAX evasion they understand.

8 January 2015

Xmas eve I had &pound;168 taken out of my account by 5 different companies, 2 were still pending. My bank where I live said there was nothing they could do. O have since had another &pound;80 taken on 6/1/15. I phoned my bank who are taking every step to recover this, there is no guarantee I will get it back but at least they are trying. If my branch would have blocked my card on 24 dec nothing else would have gone out and there would have been a better chance to get the other charges back, so I have put a complaint in.

20 December 2014
kyle mcgeehan

I've just been phoned by Castle Finance and asked to pay &pound;110, first payment into their account. They gave me their sort code and account number. It's for a &pound;2000 loan is that right?

7 May 2015

They robbed my grandmother out of &pound;200, and still had the cheek to ask for a further &pound;299. Phoning repeatedly from 9am on the dot. They asked her to put it in a Barclays Bank acc. and send them a photo of the receipt via email to

13 April 2015

I have just made a stupid mistake and applied for a loan with Castle Finance. I didn't give them my bank details but I am still worried they will take out the fee.

9 December 2014

Has anyone heard of mloans or bbloans? I applied online a year ago for a loan and made the mistake of falling for the brokerage fee, now a year later I've had these two companies for a few weeks now taking a pound out of my account then putting it back. Checked my bank today and mloans have taken &pound;69.95.

4 November 2014

Has anyone heard of magicfianance, are they a scam?

29 October 2014

Anyone heard of mloans? That's how it appears on my bank statement as they took &pound;69.99 off me.

18 October 2014

Advance America is a scam, good thing they only got me outta $20. Don't get caught paying upfront fees.

10 October 2014

Has anybody heard of a company called fastsamedayloans I have received calls and text messages telling me that my loan has been approved and they want a guarantor payment of &pound;300 for this. I have been online trying to find out reviews on this company but can not find any information. Help.

14 October 2014

Robert, don't have anything to do with this so called company! They just ripped me of &pound;460 last week, asking me to buy ukash vouchers and then give them over the phone as a deposit to release the loan! Now I try to ring them, they put the phone down! They are an Asian company but all of them have English first and second names! If you can, please help me find them!

6 November 2014

Hi there, the exact same thing happened to me yesterday, I feel so stupid. They called their company quickcash, all were asian and all had english first and last names. I am in the process of trying to get my money back, strangely one of the men I spoke to took a liking to me, I just played along thinking he was just a charmer, but he emailed me asking me to skype him etc and begging not to let his company know otherwise he would get his passport taken off him and wouldn't be able to go home, very weird. Anyway he also text me so I found out his real name, when I worked out I wasn't getting my loan or money back I told them... they weren't happy, I emailed this man telling him to get my money back etc, next minute quickcash phoned me asking about the emails... very panicky, I told them to email me with proof that I paid them money etc... they eventually did. I have told them that I want my money by 6pm today otherwise I'm going to the FSA and let the social media know all about them. No news yet, but will let you know how it goes. I feel a bit mean if they have took his passport off him, but I had to do something to get them to take me seriously.

22 May 2015

Um, would you mind giving us that email address? The little rat knows exactly what he did to a lot of people in a desperate situation. Wouldn't mind the email and some info!

22 September 2014

Does anyone know about longer-loans? They are asking for a &pound;100 as I do not have a guarantor, but they gave me the option of doing it through the secure way or the unsecured way as I don't have a guarantor.

9 September 2014

What about social lending sites especially the ones that are new in the scene. I've seen one called Forex with friends that offers unsecured loans but they base their loans on referrals only?

8 August 2014

Got a phone call from Fast Loan UK after applying for a loan online. The loan was approved but I had to pay my 1st month's instalment in advance of &pound;250. I did this and was told the money would be in my account within 20 minutes. I got a phone call to say that they were having problems transferring the money into my account. They said that if I paid another &pound;450 they could do a manual transfer but wanted me to pay the &pound;450 through money gram in India. That's when alarm bells started to ring.

19 April 2016

Omg that's what they have done with me I have paid them 2000, can some one help me get my money back please?

28 November 2014

I just got the same call. I don't know if it's a scam or not.

29 July 2014

I have just got a text message from City Financial telling me that I had got a loan from them so I rang them and the man on the end of the phone said I had applied 6 times yesterday which I never did so how many companies are in with these and then he asked for a &pound;70 fee. I said no and he put the phone down. All these companies need looking into and fast.

12 July 2014

Loans Direct... don't go there. I was making an enquiry and thought it was odd they needed bank details but as I was on my phone I gave them anyway, for a message to pop up saying they will take a broker payment of &pound;64 in 60 days, they took it in 6, have ignored every letter and email I have sent, I rang and kicked off in the end and had to hang up as the girl on the other end of the phone had a tone that sounded as if she was laughing at me. They can't cancel or issue a refund without a signature which they never needed to take my money, I can't download the refund form now as they have cancelled my membership. I didn't know I was signing up without my signature they told me they need, so I can't even send it off as I have no access to the site. I've made them aware I'm going through IVF and recovering from major surgery due to ectopic pregnancy and still no correspondence. Unprofessional disgusting company that only care about lining their pockets.

24 October 2014

I have just applied today, and after I noticed the fee, I did not proceed. I called my bank to inform them I don't want to pay this fee as I was unaware of it in the first place. I called all morning and emailed with no luck whatsoever. Contacted FCA to complain about this but was only given an email address. They are a very misleading company. I'm sending a letter because under the customer consumer/ supplier act 1982, we all have a right to withdraw an application for goods and credit services. It's so disappointing to be in this situation!

31 July 2014

Hi Vicky,

The same thing happened to me, a company called quidfinder took &pound;67.99 from my bank account, they never found me a loan so therefore they are only able to take maximum &pound;5.00 from you. I contacted my bank and they gave me this information, then I called the Financial Ombudsman which you will find the number on the net or speak to your bank and they will help you. Hope this helps good luck, oh and I got my &pound;62.99 back too.

9 July 2014

I've paid over &pound;780 if fees to Standard Life Loan, set up for 3 months and still no loan. I applied in March this year.

26 June 2014

I received a phone call from quick loan finance telling me I'd been accepted for a loan and there was no fee to pay, now I am &pound;29.99 down out of my bank by a company called extra edge solutions. I received no email verifying any details, never signed anything but they have my bank details.

10 June 2014
Ian Whittaker

Of all the stupidity - I gave my card details to Loan Spotter / Loans Direct UK - then they mentioned a fee. I told them I didn't want to proceed yet they took money from my account anyway.

Even though the account didn't have funds in it at the time, The Co-operative bank were ever so helpful... to the scam artists, paid them funds beyond what was in the account (even though I spotted and reported the dodgy transaction before it left my account) and then started chasing me to pay the money to them.

8 June 2014

I have been scammed by Loan Spotter. They are big fraud. Please never trust them.

13 May 2014

I had a company called Startup Loans who requested a credit clearance payment by Ukash so they could release the loan. They claimed the funds were going to be deposited but the FSA has blocked the transfer of funds.

9 May 2014
Aimee Nelson

Hi all. I've just been proper scammed by a company called "light loans".
&pound;3000 loan, &pound;142 repayment a month, they asked for first payment in advance. Seemed reasonable but then they asked for another &pound;185 to release funds from their bank! Nothing about this in my contract, their terms and conditions or privacy report. A few hours later, I received a new email with my contract but it has been changed even though it said in big letters on the first email "info in this email is NOT SUBJECT TO CHANGE". My new contract has the &pound;185 charge and a message saying "this email can change at anytime".
Seriously avoid Light Loans. I feel like such a mug :(

1 May 2014

My details were shared, I was not even looking for a loan however I was charged by 3 loan brokers. 1 refunded me as had no record of me, 1 promised a refund and have since ignored me and the other although said they would refund me are now only offering half the money back claiming they are in their right under a consumer act 2004 to do so. They took &pound;200 altogether! Can anyone please help me?

27 January 2015

I have the Consumer Credit act and it is illegal for any loan company to charge an upfront fee.

10 October 2014
P R Sutton

Keep at them, you have a 14 day cooling off period when even if you signed something they have to give you a refund. I got caught the same way but I kept at them. Threaten to report them to the FSA, FSO and Action Fraud. I got my money back from all of them. And some actually operate under multiple names so you are paying to the same company multiple times. Also tell them that you are going to blog it all on Social Media - they hate that because it kills off their potential customer base and puts people wise to their scams. Keep at them as they want you to give up first.

6 November 2014

Great advice... I've just done that, I hope it works.

15 April 2014

Has anyone used city loans? They said I have to pay my first month of the loan which would be &pound;93 to get the loan?

24 April 2014

Please don't use them, they are a scam. Just done me for &pound;249.00 as 1st payment.

7 April 2014

I have been scammed by dansagrouploanfirm, don't ever believe them I paid almost 12000 in their currency and now they are asking me again for money because they said there is an error.

31 March 2014

I have been scammed in the past and it taught me a vital lesson. If a reputable lender requires a fee for a loan they will not ask for it upfront they will deduct it from your loan or add it to your loan, for example they require an admin fee of &pound;100 for a &pound;3000 loan then they will give you &pound;2900 loan plus &pound;100 fee = &pound;3000, or &pound;3000 plus fee &pound;100 = &pound;3100 total loan. As for brokers, if they are reputable they will get paid any fees required by the loan company for matching you, not asking for them upfront. If you are asked to pay upfront be it &pound;1 or &pound;100 tell them on your bike.

29 March 2014

CITY FINANCIAL is a scam company. I have paid &pound;79 believing I would get a loan from it, when confronted they hung up on me and refuse to answer the phone. I then used a friend's phone as they didn't have their number and confronted them again saying I have reported them and that I want the money back and the man on the phone was disgustingly rude and said yeah good luck with getting the money back I already got it it's mine you're not having it back! There is no loan to give you, they are an advance pay company and that's it. You pay them and get nothing back. Don't make the mistake of believing them. I have had to get police and a fraud agency and the ID theft company involved. Don't do it!

22 March 2014

Hi... I have just been offered a loan from City Financial, I've read a few negative and positive reviews about them... I just want to know are they real..?

23 March 2015

Don't do it mate they are a dam right load of scammers. You apply for a loan because you're in need but you have to pay a fee up front before they will give you your loan, and that's a big IF.

26 March 2014

No they are not.

8 February 2014


1 January 2014
Government where are you

Loan ago go and happy loans, my rent was due to come out on the 4th as was my car insurance, only for my landlord to ring and say payment had failed, the two companies had taken out &pound;79.95 and &pound;69.95 plus another &pound;79.95. I'm now living in a hostel, jobless as I couldn't afford to get to work, this needs to be stopped as does payday loans.

8 August 2014

Loan ago go got me too, I'd not even heard of them :(

30 November 2013

I have been taken in by quick loan finance and have lost &pound;40 and gave them my bank details, so don't be taken in by these companies as they are all scams as they take money from you for nothing. I feel stupid for being taken in by them so beware of them. Also had a company called direct loans who took &pound;79 from my account as well so steer clear of them too.

30 November 2013

I too have been scammed with 40 pounds from quick loan finance.

18 August 2014

I have been scammed by them and they are still trying to tell me they will be giving me a loan. One member of their team rang me for another &pound;40 and all the rest said that you don't have to pay anymore fees and I will get a call from someone to get my loan. Sorry, I forgot to say this was Quick Lean Finance.

25 November 2013

Has anyone heard of a company called So Simply Loans or UK Financial Ltd please as they are asking for a &pound;99 PPI payment to pay out a loan.

25 November 2013

Quick Loan are still operating - they have just scammed me out of my wages this weekend and are still asking me for money - I have just given their details to Action Fraud.

6 November 2013

Loan solutions ditect are a dirty scamming bunch. Stay well clear of them, I just made huge mistake in paying 70 pound then 200 to receive nothing. I informed them I was calling the police they just put the phone down.

7 January 2014

Hi is this ameria quest loan solution??? I applied and received an email so I called them and they told me I was approved with for a &pound;8000 loan with 4 ways to get it get: a co signer, put my car on collateral, pay first 3 months, or purchase insurance from them.

14 October 2013

I have also been scammed by a company called Direct Loans. I made the mistake of paying an upfront fee of &pound;79.95 to arrange a loan which never materialised. It really is disgusting how they prey on vulnerable individuals.

19 April 2014

Hi, I applied for a loan which I never got. I put my bank details in and at the end of it, it said they wanted &pound;79 and to put my card number in so I didn't bother. About a month later they have taken the &pound;79 off me, is there any way I can get it back?

10 October 2013
paul metcalfe

Paid &pound;75 to City Financial UK on the understanding I would get it back if I was not successful. Did I get my money back... NO... they are a scam. Don't use them.

30 September 2013
city financial scammers

City Financial have just been featured on "Rip Off Britian".

4 June 2013
Chris Bobs

Stay away from companies called Mr unsecured loans and elite loans, they are crooks with no loans to provide they want lots of money up front and have no loan to pay you. I have already called the police, please stay away from them.

13 May 2013

I agree with Tracie. Steer clear of Loan Solutions. They took an upfront fee of 85 pounds off me and now I am inundated with texts and emails from so called loan companies where you have to go through the whole process again. I have written to them and asked for a refund of my money, which according to their website you are entitled to do under the Consumer Credit Act. Lets see.

3 May 2013

What bank details does a loan company require to place funds in my account? I was thinking they just needed the account number and sort code, but they are asking for all the information you usually give when you make a payment using your bank card. So I'm thinking they just want to empty my bank account? Anyone know what details a legitimate company would ask for? Thanks.

12 March 2013

Steer well clear of Loan Solutions. They take an upfront payment of &pound;84.99 then stop answering, having shared your details with scam artists across the world. Absolutely disgusting.

23 June 2014

Loan spotters are another scam, stay well away.

8 November 2012
georgina kingham

I just had a phone call from a company called City Financial they want me to pay a upfront fee of &pound;80 to recieve a &pound;1000 loan, can you tell me if they are legit?

15 December 2016

I had a loan with Citi Financial who are legit, City Financial don't touch. I paid an upfront fee, never got my loan and they were so rude I actually hung up.

27 March 2015
peter evans

No they ripped me off, don't ever pay upfront fees for a loan if you have been accepted they should already have your bank details etc so dont give them this either.

29 November 2014

Don't do it xx

29 November 2014

They take your money and you get lots of other companies which they run to take more money off you. I went to them two years ago and lost just short of &pound;1000 and their run off companies are still asking me if I want a loan, and to make things worst I can't get a penny back. They're nasty and horrible and no one wants to stop them and so they are just still going taking money off people but claiming to give money. It's a joke that they have been running for so many years and nothing and no one gives a damn or willing to stop them. Stay away they make your life hell xx

29 July 2015

This just happened to me a company called b finance took over &pound;538 off me and I very much doubt I can get a penny back. Seems little people are interested however I found some useful websites that allow for tracking numbers. The guy told me he was calling from London turns out it was Liverpool. So I feel it's only fair that I go to the registered address and see if anybody is home, if so ring the number while standing outside their door and when they answer and hear them I will notify the fraud people as well as the police failing that demand it back. These people should be stopped they are putting more people into debt not helping sort out financial plans to help people.

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