now know why Varooma hassle you to write your review 1 day after taking out the loan, as obviously you will be happy with them at that point, but my god will that change. I seriously don't know how these guys can trade let alone be a member of the CCTA & FCA I fell into financial difficulty after taking out a £5k loan paying back £500 per month for 24 months, I took out my loan in January 2015 and have literally just had to sell my £11k BMW for £7k so they wouldn't repossess my car. They charged me over £3.5k in charges (not interest I’m talking about just charges) for according to them, SMS Charges @ £1.5 per text, one month they sent me 30 apparently, Outbound call charges £5 per time, Late payment charges £15, Default Notice Charges £15, Default notice reminder charge £15, Final Demand charge £15, Demand for payment notice charge £15, Recovery handling fee £75, Recover agent fee £475 (I SPOKE TO THE REPO AGENT AND HE SAID THEY DONT GET PAID UNTIL THE CAR IS REPOSSESED). They contacted me to say the car was out for repossession and I tried to negotiate a payment plan, however they weren't interested, they wouldn't hold the repossession and demanded I paid over £3k in arrears that day or someone would come to my work and take the car. I was 1 month behind 1 month!!! I eventually sold my car @ a £4k loss just to pay these loan sharks. In total I borrowed £5000, I was 8 months into my loan and had paid back £3481.92 which was £518.08 shortfall (1 month ) and they forced me to pay back another £6857.13 even though I was settling my loan 15 months early. In total I paid them loan sharks £10338.92 for a £5k loan and only had it 8 months, that's £5338.92 profit in their back pocket. They target the venerable and nearly all the way through my loan except at the end they constantly emailed me offering further advances. I have an open case with the financial ombudsman, I have also contacted the FCA, watchdog and my local MP. I won’t let these sharks get away with what they have done to me I tried to post this on Trustpilot and guess what Varooma did "Varooma reported this review 16 hours ago for the following reason(s): The review contains sensitive information"

Hi, I have been desperatly trying to set up Repayment Arrangements with the following companies and have so far had no luck at all. I have tried their generic email addresses but keep being totally ignored. I want to start making Payments at the end of this month so need to get it sorted ASAP. Does anyone have an Advice / Email Addresses for the following so that I can actually get a response? Companies Are: Payday UK 247 MoneyBox CFO Lending Please please help

Lord Sugar wades into the PayDay loan trap.. Read more.. http://www.mirror.co.uk/money/personal-finance/lord-sugar-blasts-legal-loan-1460508

Hello, So there was me after a loan of £1000 with repayments over a year. I followed links, never believing that entering details meant the site I was on would be charging me, however they did. Getting my cash refunded was a bit of a nightmare with some of the responses more akin to dare I say even 'illegal' loan sharking! My experiences below might be of some help so hopefully will avoid others falling into the same trap. One important point is that BEFORE entering a single bit of personal information READ their Terms & Conditions. Bear in mind, (I'm sure someone here will confirm it), that under the current 'Distance Selling 2004' laws they must refund, however they can keep back £5 for so called administrative fees. E-Credit Plus - Take £39.99 from you - I managed to get it fully refunded and they'll even give you a reference number for this in case there's a problem. This is a company you don't even know are going to take money from you! Moneygaga - (Trading name of EQI Independant Ltd) aka My Money Group. They take £23.14 from you instantly. Their site has NO telephone number however you can contact them on 0800 690 6856 and tell them it regards Moneygaga. They will ask for your bank details for a refund (less the £5). MyLoans - Will take two payments, normally £1 (test) followed by £68.99 (totalling £69.99). They take the full 30 days (and you'll have to remind them!) to refund and you are advsed to send a 'signed for' cancellation letter within the required 14 days. You then get an email about it (aka delaying tactics). I managed to get the whole payment refunded and be aware their 'entranapenur' owned has on checkig had some bad press in Australia! LoansDirectUK - BAD NEWS people! Now these are what I call 'con merchants' saying we are a 'membership site'. Conned me out of £59.75 and under duress accepted a repayment of £31.25. They sent me an email saying 'agreed full and final settlement' - not quite true however my replied email stating this came back saying their mailbox was full (real or expected, I do not know)! They have nothing but many 'o844' numbers and an address in Bexhill-on-Sea however they take time to answer on the phone with an American accent 'answer' system - stay well clear! There were another couple I experienced who when claiming back cash, you could tell, were bluffing about the problems. So be very, very careful and I can assure you that I got more calls and messages to my mobile in a week that I'd had in 5 years! Michael

Join our fight back against legal loan sharks: Rally with Ed Miliband and Tom Watson Thursday 26 July 2012 11am Walthamstow Hello! I'm writing to invite you to join us this coming Thursday 26 July at 11am in Walthamstow to show how whilst this Government may refuse to act, together we can protect British consumers from legal loan sharks. I'm delighted to announce the Leader of the Labour Party Ed Miliband and Tom Watson, Deputy Chair of the Labour Party, will be joining us as part of their Real Change to Win tour to see how Labour activists and the Movement for Change are working with local communities to tackle problems like this and support our work on this issue. We will also be revealing our summer campaign pack and the tools we have developed to support action on the problems the high cost credit industry is causing for our country. With mortgageicon companies stating they won't lend to consumers who have used payday loansicon because of concerns they lead to unmanageable debt, companies directly targeting payday loans at people on benefits or their continued domination on our high streets, its time that we stood up to Britain's legal loan sharks. Places are limited but if you would like to join us at this very special event please email campaigns@workingforwalth amstow.org.uk to sign up to participate. Together we can fight back! Stella Creasy Labour and Co-operative MP for Walthamstow p.s. Please also share this email with your family and friends and invite them to join us too! http://www.workingforwalthamstow.org.uk Stella Creasy: Labour and Co-operative MP for Walthamstow