Another very unsatified ASC Finance customer!

[Dale Humphries]

Hi, wish I'd read the review here first! Well here's my experience with ASC Finance, hopefully it will help others from using this company and making the same mistake I did.

I approached ASC for help with a small commercial Loan. ASC Only provided a handful of loans (have since found loans with better terms myself). The lender went into liquidation at the 11th hour - ok not ASC fault, but how they dealt with it was.
I was told either to 'wait and see' - something I was unable to do as searches were completed and have a finite life (so approximately £3k would have been wasted) 
Or take a very unfavourable loan. So, pressured into tying myself into an unfavourable mortgage for 20 years.
In the end I found finance myself, however ASC have refused to refund either the £495 initial consultation fee or £1915 that was paid for loan offer that never materialised. £2410 in total for nothing apart from additional time and stress, something they were paid to reduce! 
That's £2410.00 to broker a loan for £115,000, a loan that they never provided! After reasonably and politely requesting the £1915 refunded (not even the full amount) this has been refused.
Avoid at all costs

[AndyOrch]

Hi Dale and Welcome to CAG

Do you intend to litigate to recover your losses?

Andy

[Dale Humphries]

Hi Andy,

My Complaint has been escalated to their head office, but yes if a satisfactory outcome is not achieved I would consider the small claims court on the basis fees were paid, but the agreed service was not provided.

Infact what service was provided caused more stress and time delay than if I had approached lenders myself.

[AndyOrch]

Sure thing......please update your thread with what transpires and if you need advice on issuing a court claim.

 

Andy

[Dale Humphries]

Will do thanks.

[Dale Humphries]

After being met with arrogance, contempt and a refusal to admit any wrong doing by ASC's head office, I have escalated my complaint to their trade body the NACFB.

My complaint was reviewed by one member, who dismissed it without addressing any of the points I made as to specific sections of the NACFB codes of practice that I felt ASC had broken (8 sections).

Quite surprising from an organisation that states its primary objective as 'to maintain, promote and when necessary enforce a code of practice'.

 

The member also did not advise me I had the right to appeal his decision, although their code of practice clearly states a complainant has the right to appeal.

I have now appealed, but don't hold out much hope, from my experience so far the NACFB seem to be a self serving organisation, only interested in receiving subs and protecting their members - as opposed to their primary objective of upholding their code of practice.

 

It very much feels like I'm battling against an old boys network who are determined to cover eachothers back, and as I said, treat with contempt and arrogance anyone who dares call them out when they treat clients like dirt. 

[ericsbrother]

this is why in other areas that have trade bodies we often recommend ignoring their existenece and go straight to a civil claim. You save time and you dont tie yourself up.