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FLM Loans - Advice

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Hi Spammers I have a loan with flm what does your post mean?

 

It doesn't mean much, basically it is in reply to someone else who said FLM's licence was "minded to revoke" which means they were possibly about to lose their credit licence (i.e no longer able to offer loans legally).

 

They had obligations to fulfill and by the looks of it they have done that.

 

I trust you have not defaulted on your loan and not been on receiving end of their phone calls and letters? Their APR is shocking and it is terrible that people who can't get loans end up using firms like this.:x

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Hi guys,

 

I too took a loan out . Regardless of whether they hold a Consumer Credit License, their Credit Agreement may represent an unfair relationship.

 

1) It does look very much like an application form.

2) Monthly Repayment of 10% of outstanding balance?

3) The Credit Advance contains a Fee and also attracts interest. This is wrong.

4) They wrote to customers informing them that they would only ever be collecting the intereest for future repayments.

5) They advertise it as a short term loan but on the agreement it is classed as Revolving Credit Agreement.

6) There are no other terms and conditiosn which explain the APR variability, timing of repayments. It leaves the Customer wondering exactly just when they are going to finally repay the loan.

 

I am contacting the FSA, to find out if they do have a current license and also complain to the FO and report the poor documentation and the fact that it does not follow Consumer Credit Act regulations means that it leaves the customer with an unfair advantage.

Sorry to dig up an old thread.

 

Can somebody explain what this line means please?

 

Regards,

Andy

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thanks for that andy, i havent been on here much but your post makes sense as i too was wondering when my loan will end, its 3 yrs is up dec but looks like due to interest will go beyond that with no missed payments, think i need copy of cca and will send it to fso and fsa for clarification

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NEVER touch FLM !!

I was sick and could not get out to payment and they charged me £20 for being a few days late !!!!

They also rip you off when you ring them at 10p a min, the first 3 mins is rubbish that is repeated about there website then 2 mins of music followed by 5 mins talking to a robotic fool !

Thank goodness i only have one payment left NEVER AGAIN i would rather sell a kidney !

Edited by lostsole12
spaces

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Hi All,Just trying to get something on FLM as I unknowingly signed up as guarantor andfound myself with an account with this company for the £3000 loan, and becauseof his late payments they have been charging my account without my consent,also all the texts, an harassment, I cannot understand how I became the loanerand the debtor when I never applied for the loan, they are telling me that Ihave to pay for my friends late payments. I never envisaged that I would becomethe person paying the loan every month when my friend defaulted payment on theday that it was due. What can we do about it? I agree this company should notbe allowed to get away with its tactics in recovering late payments and hugeinterest rates.

My adviceto any one even thinking about being a Guarantor or take out a loan with thiscompany,

DONT youare asking for grief

:mad2:

 

Can Any one help?

 

fredR

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any progress on these cases, did anyone win charges against this company, if so how. My loan with them would be finished now if it wasnt for all the extra charges they put on me over the last 3 years? please can some one help


NATIONWIDE:

WON - 26/10/06

FULL REFUND - WITHIN 7 DAYS OF MCOL

Acknowledged - 25/10/06

MCOL Issued - 24/10/06

MCOL Sent - 23/10/06

LBA sent 01/09/06

Prelim Sent - 07/08/06

BARCLAYS BANK:

AQ sent 25/1/07

Defended on last day possible.

MCOL - Issued 13/12/06

MCOL- Sent 12/12/06

S.A.R - Sent - 25/10/2006

S/Ment rec - 4/11/06

Prelim sent - 6/11/06

BARCLAYS LOAN:

S.A.R - Sent - 25/10/2006

BLACK HORSE:

SETTLED IN FULL

S.A.R - Sent - 25/10/2006

CCA to get loan agreement info - Sent - 25/10/06

Prelim sent PPI + Charges 11/11/06

CAPITAL ONE

Prem sent 11/12/06

S/Ments Rec - 5/12/06

S.A.R - (Subject Access Request) - Sent - 9/11/06

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BUMP, cca sent today as im at my wits end dealing with a company that has no flexibility and good will. They pray on the poor and make there lives 1 million times hard by not even willing to move a payment date back a week or so. "That is why we have guarantors, because it means we get paid on time, after leaving a day or so to get extra charges first.

 

Can someone please come back to this thread, was some great info but then no storys finished, good or bad us current FLM customers would love to hear.

 

Kind Regards Mark


NATIONWIDE:

WON - 26/10/06

FULL REFUND - WITHIN 7 DAYS OF MCOL

Acknowledged - 25/10/06

MCOL Issued - 24/10/06

MCOL Sent - 23/10/06

LBA sent 01/09/06

Prelim Sent - 07/08/06

BARCLAYS BANK:

AQ sent 25/1/07

Defended on last day possible.

MCOL - Issued 13/12/06

MCOL- Sent 12/12/06

S.A.R - Sent - 25/10/2006

S/Ment rec - 4/11/06

Prelim sent - 6/11/06

BARCLAYS LOAN:

S.A.R - Sent - 25/10/2006

BLACK HORSE:

SETTLED IN FULL

S.A.R - Sent - 25/10/2006

CCA to get loan agreement info - Sent - 25/10/06

Prelim sent PPI + Charges 11/11/06

CAPITAL ONE

Prem sent 11/12/06

S/Ments Rec - 5/12/06

S.A.R - (Subject Access Request) - Sent - 9/11/06

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you dont have to pay any of their charges , they are unlawful on a pdl.

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

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WOW thats great news, pdl ? also how can they work out the actual outstanding balance on account if they remove the charges and refund them? as interest is being charged on outstanding balance hence why the loans run well over the 36 months stated?

 

Thanks for update dx


NATIONWIDE:

WON - 26/10/06

FULL REFUND - WITHIN 7 DAYS OF MCOL

Acknowledged - 25/10/06

MCOL Issued - 24/10/06

MCOL Sent - 23/10/06

LBA sent 01/09/06

Prelim Sent - 07/08/06

BARCLAYS BANK:

AQ sent 25/1/07

Defended on last day possible.

MCOL - Issued 13/12/06

MCOL- Sent 12/12/06

S.A.R - Sent - 25/10/2006

S/Ment rec - 4/11/06

Prelim sent - 6/11/06

BARCLAYS LOAN:

S.A.R - Sent - 25/10/2006

BLACK HORSE:

SETTLED IN FULL

S.A.R - Sent - 25/10/2006

CCA to get loan agreement info - Sent - 25/10/06

Prelim sent PPI + Charges 11/11/06

CAPITAL ONE

Prem sent 11/12/06

S/Ments Rec - 5/12/06

S.A.R - (Subject Access Request) - Sent - 9/11/06

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Sorry to be a dimwit but whats a pdl ? posted our dealings with these people just last week and in the proccess of letter writing etc.

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Pay day loan I guess!

 

I have in the last couple of days started to receive texts from this company asking me to log in to get my loan authorised and paid out!

 

Never heard of them before!

 

Someone selling mobile numbers methinks? :evil:

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I took a loan with FLM last year,

and all went well for over a year untill I decided to start my own business,

 

there are times when I am waiting for payment frm customers and run slightly late,

 

however FLM are unsympathetic and I am constantly being harrassed by FLM,

 

threatening me certainly won't help, stay well clear!

 

I'm not suggesting this in anyway shape or form,

but I wonder how ....would feel about being harrased, spammed by email and twitter...?

 

 

Disgusted in the company!

Edited by icemanza

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Hi Andy, seems i was just as foolish, but after a divorce i took out a loan from FLM for £2500, i was suprised to see that only a quarter of my payments were towards the amount borrowed and rest was for interest. I too have (for the first time) fell behind on this months payment, my guarantor and myself have recieved calls, emails, txts on a daily basis plus additional charges even though i have told them i will bring account upto date before next payment. Is there anyway out of this? Last year an additional £300 was taken from my card over two consecutive months, even after reporting this and sending them copies of my statements, they have denied this. Any help out there?

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Hi AFtab

 

Saw your post and have sympathy with you both....I am a Guarn. for a friend of 30 years and have thread running atm about our problems ...we have made contact with the Ombudsman and have written to the OFT about how we are being treated details of the address for the OFT team to send a letter to are on my posts.

Atm we are on an 8 week proccess with the Ombudsman this will be up at the start of Dec ...then we can take it to them further depending on the final responses that Flm have made to us....

At time of writing we are still being threatened and have a letter of default and threats that it will be passed to Harvey Sturtt ( Flm`s own in house litigation team ha! ha! ) all this is happening when a complaint is in with the Ombudsman and after the complaint date ....not looking good for FLM as they should not be doing this ...but hey I`m not going to remind them !!!! Make a paper trail and insist on in writing only and removal of your tel. nos. from auto calling etc ...your Guarn. will need to do the same only via his own circumstances ...send all recorded delivery or at least get a proof of posting .

Our last lettet from them dated the 31st October 2011 states that the account is being prepaired for debt collections proccedingd to begin via Harvy Sturtt...good on them ...our next action is just to write and aknowledge reciept of letter and nothing else ....we continue to send a token payment each month to them so they cannot say you are not paying !!!!! In a letter to them you need to do this and you tell them how much you will and can pay until further notice from you is given ...looks good if they ever do take you to court !!!!!

hope I have been of some help you will both at some piont along the line not worry as long as you cover yoour backs so to speak!!!!

Stressed out FLM guarn.!!!

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Hi, and thanks so much for the valuable responce, since posting my thread, FLM have contacted a number of my guarantors extended family that has led to the breakup of our long friendship, can they do this? and how do they get the numbers in the first place? also can they threaten with default notices even though its one payment that is 2 weeks overdue. its not that i have refused to pay but due to the nature of my contract work i get paid on times. have found that they have their fingers in a lot of pies, e.g Yes Loans. they are like wolves in sheeps clothing preying on the vunerability of people like us. a complete nightmare, im a grown man who has broken down with this stress, they have achieved this in less time than my 2 ex-wives put together. it seems once a person is on his knees he willnever get up to put his like together. thanks for ur support and plz keep in touch

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Hi Andy, seems i was just as foolish, but after a divorce i took out a loan from FLM for £2500, i was suprised to see that only a quarter of my payments were towards the amount borrowed and rest was for interest. I too have (for the first time) fell behind on this months payment, my guarantor and myself have recieved calls, emails, txts on a daily basis plus additional charges even though i have told them i will bring account upto date before next payment. Is there anyway out of this? Last year an additional £300 was taken from my card over two consecutive months, even after reporting this and sending them copies of my statements, they have denied this. Any help out there?

 

do a chargeback!!!!!

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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you do a chargeback thru your bank creditcard number

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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hello

 

i would appreciate a bit of advice on this.

 

I am a guarentor for a family member on a loan with FLM.

 

She has recently lost her job, and i am currently abroad, so i've not been kept up to date with the situation.

 

she missed 2 payments. i understand it is my job to pay this, so no problem there.

 

but it seems they have been charging her late payment charges. i understand, that as she pays monthly, she could technically only miss one payment per month, but they have given her THREE late payment charges in one month. which doesn't sound correct, or even legal to me.

 

any thoughts?

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i became a guantor to FLM loans and they are chargin me twenty pound every two days! HELP!

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users

im going to close this thread as its being used for everyone to post in

 

please start YOUR OWN threads

 

important help is being lost by people

not seeing all the troubles FLM are causing

 

and if necessary

posts will be merged over from here to your new thread

if we are asked.

 

please PM if this is required

 

dx

siteteam


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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hello

 

i would appreciate a bit of advice on this.

 

I am a guarentor for a family member on a loan with FLM.

 

She has recently lost her job, and i am currently abroad, so i've not been kept up to date with the situation.

 

she missed 2 payments. i understand it is my job to pay this, so no problem there.

 

but it seems they have been charging her late payment charges. i understand, that as she pays monthly, she could technically only miss one payment per month, but they have given her THREE late payment charges in one month. which doesn't sound correct, or even legal to me.

 

any thoughts?

 

i became a guantor to FLM loans and they are chargin me twenty pound every two days! HELP!

 

Hi Guys

 

You would be better to each start your own threads where you will get better advice

 

ims


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style="text-align:center;"> Please note that this topic has not had any new posts for the last 2770 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you
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