EZE Loans Broker fee

[42man]

Good news....seems the OFT will be doing something about this - http://www.bbc.co.uk/news/business-13604411

[42man]

Make sure you keep sending in the complaints to the OFT.....I think those at Eze will be looking for new jobs soon !!

[missmolko123]

Dont give up!!! I got mine eventually! Also, this was on the BBC News website yesterday:

 

Dishonest credit brokers that demand upfront fees for loans they have no intention of arranging will be closed by the Office of Fair Trading (OFT).

The measure is part of a general crackdown by the regulator following a complaint from Citizens' Advice.

The charity said some unscrupulous firms were cold-calling thousands of potential borrowers and offering loans in return for hefty fees.

The OFT is making it mandatory for fees to be refunded if a loan is not agreed.

"Our evidence suggests some businesses are deliberately taking people's money upfront with no realistic expectation of finding them the type of loan they need," said John Fingleton, the OFT's chief executive.

'We will continue to take robust enforcement action against businesses using unfair or improper business practices and we are providing new guidance making very clear the kind of behaviour we expect from the industry."

In parallel, the OFT will bring in new rules later this month for debt management firms to stop them making misleading claims in adverts, charging expensive fees upfront, giving poor advice or posing as charities.

Law change

The OFT is going to ask the government to consider changing the law to ban outright the practice of credit brokers demanding upfront fees in exchange for arranging loans.

What is a super-complaint?

 

• A designated consumer group can make a super-complaint to the Office of Fair Trading (OFT) if an issue is "significantly harming the interests of consumers"
  
• The OFT has 90 days to respond by stating what action, if any, it plans to take on the issue and the reasons behind its decision
  

Citizens' Advice had complained, in a so-called "super complaint", that many people had received a text message or telephone call from these firms offering to find them an unsecured loan.

Those who accepted were then charged the fees for little or no service in return.

"They are getting cold calls from businesses they haven't asked to call them," Teresa Perchard of Citizens' Advice told the BBC.

She said an upfront fee of £70 was not uncommon, but the organisation had come across charges of up to £300.

New rules

The OFT estimates that 270,000 people had paid upfront fees to credit brokers in the past year, with complaints about them doubling between 2008 and 2010.

The firms in question typically specialised in arranging unsecured loans for people who found it hard to borrow money because of their low incomes or past problems repaying debts.

As well as threatening to close down rogue credit brokers, the OFT is consulting on changes to its own rules to make it clear that:

• borrowers already have a right in law for their fees to be refunded if the credit broker fails to introduce them to a potential lender
  
• if an introduction is made but a loan is not granted within six months, the fee must still be repaid.
  

Some victims, Citizens' Advice said, had been persuaded to hand over their bank details and later found that money had been taken from their account without their permission.

Victims struggled to get somebody to deal with the issue, and were charged a premium rate when calling to complain.

They also found that they were being inundated by calls and text messages offering loans or debt management services from other firms.

The consumer minister Edward Davey welcomed the OFT's proposed changes.

"We will give careful consideration to the outcome and take further action if required."

[staceyredfern]

today i got the reply

I can confrim that we have received your signed refund request; your refund will be processed, dispatched and returned to your account within 14 working days.

 

Regards

 

Kate

 

so dont give up and be so negative, keep at em[/QUOT

 

 

I have had exactly the same problem i have recieved 2 emails 1 week apart saying this money would be in my bank withing 14 days, 2 month on im still waiting. Thorugh these taking money from my account £67.70 i have now incurred £65 bank charges in april £95 bank charges in may, the £95 came out today taking me over my arranged overdraft so i am now been charged £5 a day.:mad2::mad2:

[42man]

Has anybody tried issuing a county court claim ?

[staceyredfern]

today i got the reply

I can confrim that we have received your signed refund request; your refund will be processed, dispatched and returned to your account within 14 working days.

 

Regards

 

Kate

 

so dont give up and be so negative, keep at em[/QUOT

 

 

I have had exactly the same problem i have recieved 2 emails 1 week apart saying this money would be in my bank withing 14 days, 2 month on im still waiting. Thorugh these taking money from my account £67.70 i have now incurred £65 bank charges in april £95 bank charges in may, the £95 came out today taking me over my arranged overdraft so i am now been charged £5 a day.:mad2::mad2:

 

I sent a letter last night saying that i am now taking this matter to county court which i was advised by trading standards

[staceyredfern]

Yes i sent an email last night saying that i am now willing to take them to county court and again i recieved an email back to say the money would be in my account, this is so annoying cos it has now cost me over £200 and i am going to recieve another £50+ bank charges this month

[looloo2707]

i have just sent them the following e-mail

 

i recieved an e-mail back approx 6 weeks ago saying that my initial fee would be refunded to my bank account within 14 working days.... it still has not gone in. i have been to citizens advice and been to see my solicitor. and both have advised me to take the matter to county court AS YOU ARE NO LONGER EVEN REPLYING TO MY E-MAILS! so i am therefore giving you until 8-june-2001 for the money to be received by myself from you, or i WILL be taking you to court!

 

hopefully they will pay attention!

[staceyredfern]

I sent an email last night threatning with county court action and i got the same email i had recvied on 2 previous occasions saying the money would be in my bank withing 14 days.

[kasami]

this company is a JOKE i have too been trying to get my money back in about 2months, the last email i received from them was from KATE and i got it 11 may saying that i will have my money back in 14 days. now i have tried to make contact with her/them on numerous occasions and getting no where fast. so today whilst i was reading the forum i decided to take them to court and have looked into it and i have since told them that if i dont get my money back by 8th june i will be seeking legal action i.e going to county court.

 

just hope they listen to us and pay us back what is ours they are a joke and i hope that other people arnt getting caught out like we did/are.

[staceyredfern]

as well as emailing i am also sending letters recorded delivery. Where can we report this company to so know one else has to go through all this ****

[42man]

You need to issue a letter before action, giving them 7 days to pay....if not then issue a court claim...it is likely to be undefended either that or if you can get a number of people together and one of you knows a solicitor, then a group action might also be considered.

[annatbury]

Just a quick update - after many chasing emails and another recorded delivery letter I finally received a FULL refund (by cheque) they didn't even take the admin fee - so keep on at them you will get your money back in the end

[Al88]

Has anybody had any luck I have sent loads of emails and letters none recorded though to them about my refund for the £75.

was wondering what experience you guys have had to get your refund?

[poundhound1808]

Raise a dispute with your bank under the Visa Debit Chargeback scheme (google it for info) - this has to be done within 90 days of you becoming aware of the problem.

 

I filled in a form (Nationwide) and sent them copies of the two letters I had sent to Eze.

 

It took several weeks but NW have now refunded the money to my account.

[lamb909]

After giving up on this for some time, I e-mailed them 11 times yesterday, got this response today so called them, was told my bank had the refund, I said no they bloody haven't, bloke said he would e-mail head office and ring me back tomorrow, said No I will ring you, he said ok. Argued the point with him, why had they said they would send a cheque when he was saying it had been refunded to my card??? Got e-mails to prove they said both.

 

Anyway, you can now contact them and I will be ringing a few times daily, don't give up but please report them, anyhow, heres the e-mail I got

 

Rebecca, Aug-23 14:59 (BST):

To Speak to an Eze Loans advisor please call: 08446882849

[poundhound1808]

Sounds a lot of hassle - raising a dispute with your bank is the way to go. This is not the same as reporting a fraudulent transaction! Google Visa Debit chargeback for more info; most people (me included, Consumer Direct gave me the info) and even some bank staff aren't aware this exists.

 

It took two phone calls and one letter to my bank, and I now have my money back.

 

Good luck!

[45minutewarning]

Hi Guys,

 

I hope I'm posting in the right area!

 

I applied online for a payday loan and was told by this company I had been accepted.

 

The loan was for £300 and they showed my a breakdown of repayments of around £35 p/month with a fee of £67.

 

They asked for my card details, which I gave and now they've taken the £67 fee but only provided details of other lenders!

 

I really thought they were providing the loan themselves and now I realise I've been stupid.....

 

Is there anyway I can get this back?

 

Cheers

 

Neil

 

I think a lot of people don't realise that when they apply for a payday loan online they are actually going through a broker. Until recently I worked for such a broker and was shocked at some of the practices. Payday loan brokers try to get the loan from the lender that pays them the highest commission - they are not interested in getting the best deal for you in terms of APR, or repayment terms for example. Lenders can pay up to £40 commission to the broker for each loan secured. Remember, that £40 comes out of your pocket - you are paying for the privilege of getting the best deal for the broker and possibly the worst deal for yourself. Brokers tend to be a bit secretive about the order in which they send applications to the lenders. In many cases I don't think the lenders realise how far down the "food chain" they are. But, as one of the commercial managers once told me: "There is little transparency or honesty in this industry". Brokers may also damage your credit rating by sending inaccurate personal details to lenders, most of whom will perform a credit check on you.

 

The industry is currently enjoying an orgy of unregulated greed. Having worked for one of the major payday loan brokers, my advice is to kick the habit and don't touch these loans. The profits that are being creamed off vulnerable people are enormous, enabling people in the industry to live in tax havens like Monaco. I believe the UK Government will inevitably have to regulate this industry but we should also try to avoid using their "services"

 

BTW, while customers tend to be the main victims of this industry, spare a thought for some of the staff. Our call centre manager once boasted that if any of his staff failed to get any clients to take out a loan during their working day, they were made to sit in the corner with a dunce’s hat on. I may be naive, but I thought that kind of maltreatment disappeared with the Victorians. I'm surprised nobody has sued them for breach of human rights and employment law. However, it gives you an idea of the kind of people running these businesses.

[42man]

Funny how the Ezeloans website has disappeared.....

[42man]

This is why these horrible companies are disappearing and soon the PAyday loans will close too - http://www.bbc.co.uk/news/business-15499639

[asmilecostsnothing]

Funny how the Ezeloans website has disappeared.....

 

Good to see the powers that be finally did something then Ezeloans were another who liked the continous reoccuping payments authority and spelt the end for my bank account at the time so this can only be a victory! mind you can't think whats worse details with a broker or some dodgy payday loan co ! perhaps they should merge into one.