please help, more fianacial is it a scam?

[cinders222]

omg im terrified to say the least. i had a fone call last thurs saying i had been accepted for £5000 loan and would have to pay back £137.24 per month, then had to sign in using there password and id number they sent me and i did this, they took my bank details and said it would cost 69.50 for admin fee. they havent taken the money as of yet, and im so worried as iv been tryin to contact them for 2 days now and havent heard a thing the number i have got for them is 08442478347
no money has left my account and none has been paid into it. iv seen somebody else on here who had same problem with them and i recieved all the exact same emails as she did.
what shall i do? xx

[Bubbles]

Hello cinders222,

I encourage you to contact your bank and tell them what has happened. Personally, I would want to change my bank account number.

You have not given us much to go on. Have you searched the name they used. The laws in your country are most likely different from those in mine, so it would help to know what country you are in.

If you have emails from them please post the emails here.

Had you been applying for a loan or was this a call "out of the blue"? It is best not to give out banking details to someone who calls you.

[Bubbles]

Cinders222,

I looked at More Financial's website. It appears it is necessary to fill out their online form and this is why they contacted you. You must have filled out their form. I make it a practice NOT to fill out forms online unless they are secure. The way to determine secure sites is the https. The form on their front page is not secure.

At the bottom of each page is information regarding who they are:

51% APR Representative. Please note: Calls may be recorded for training and/or monitoring purposes More Financial, 145 - 157 St John St, London, EC1V 4PY. Data Protection Reg No:Z2086000.Consumer Credit Licence No: 0633067.© More Financial 2009. The guidance contained within this website is targeted at UK based consumers. You are under no obligation by completing the application form.

More Financial are Independent Credit Brokers. We have no links with any banks or financial institutions.

This gives you information you can verify. Apparently this person or firm is a loan broker who collects information and is paid to connect borrowers and lenders for a fee.

You should be able to contact Consumer Credit and verify the license number listed above No: 0633067.

The website has been registered since 2009. The owner does block his name on Whois.

Let us know what you find.

[tara1988]

the same has happened me today and i'm very worried now i checked the details online with the data protection register and the consumer credit licence and neither registers had any results for the details given!what am i going to do?

[LadyYves]

Hello, the same happened to me they accepted me for a loan, so I gave them my card details and then they told me there was a charge for £69.50, I then reserched them and found that it was a scam and came on here for advise,
I went to my bank they cancelled my card before the charge came out you need to do this so that the bank details that they have are now invalid, do this as soon as you can!

[Bubbles]

Welcome to ScamWarners tara1988. Lady Yves has given good advice. Cancel the payment and speak to you bank about making sure nothing happens that you have not authorized.

[tara1988]

I cancelled my card yesterday just in case but since that I have been getting phone calls from different companies claiming to be able to give me a loan and when I told them I'm not giving my details out because of more financial they told me that they are not a scam more financial are genuine as are they!how many scam companies are there and how are they able to get away with this?

[Bubbles]

tara1988, the person who received your information from the form you filled out probably sold your information to other loan companies. This is an old ploy to get the names and contact information of potential customers / clients. I once signed up to win a motorbike. I got call after call wanting me to buy new windows and siding.

I don't know if you have a "No Call List" in your country. If so place your phone number on that list. If not, tell the callers you are not interested and disconnect the call.

To get an actual loan, go to a reputable lender. Check their credentials and business reputation and don't pay upfront fees.

These are not all scams, just dodgy business practices and as long as people participate, they will continue.

If you really want to know, get the name of the company and check the company out with the regulators of that industry. That may be the way to shut them down. It takes time to do this. If you don't have the time, just disconnect the calls that come. Sorry this happened to you.

[wickedblonde]

hi
Ive fallen prey to them and they have just taken 69.99 out of my account and left me with nothing i contacted my bank but they said there is nothing they can do , iam in a right state

[mappitpink]

Hi, I had same problem with morefinancial. They offered me a loan and said there was a admin fee of 69.50 which would be taken from my account 30th June. I noticed that the amount was going out on the 3rd June so contacted bank and asked them to stop transaction which they could not. I cancelled my card only to find out that they were taking another amount of 69.50 out today as cash. I have written to them and awaiting reply. Be careful everyone it looks like a scam.

[Bubbles]

Welcome to ScamWarners wickedblonde and mappitpink. It sounds like you need to let your bank know in writing that you do not want any more money taken from your account by this company. I would ask my bank to change my account number so the information is no longer available to be used by anyone I did not authorize.

You may be able to continue to contact the company or the agency that regulates such businesses. If the company is legitimate, you should be able to file a complaint. Sadly, you did authorize them to charge you by giving them your banking or credit card information.

It is important to protect this kind of information and release it only when you know the company is legitimate and you understand the terms they are presenting.

Best of luck.

This is from their website:

51% APR Representative. Please note: Calls may be recorded for training and/or monitoring purposes More Financial, 145 - 157 St John St, London, EC1V 4PY. Data Protection Reg No:Z2086000.Consumer Credit Licence No: 0633067.© More Financial 2009. The guidance contained within this website is targeted at UK based consumers. You are under no obligation by completing the application form.

More Financial are Independent Credit Brokers. We have no links with any banks or financial institutions.

[wickedblonde]

Hi well thought id update you ,

i contacted my bank but , as has been said because i authorised my details there is nothing they can do BUT they fraud department are looking into it . I have since cancelled my card ( well told them i lost it ) , and so it has been blocked !!

When i investigated further i remeber i got them through a company called www.gasandelectircswith web site , so i have emailed them SEVERAL times asking for a refund . They keep sending emails back saying it takes 28 days to decide if iam entitled to a refund , and there would be a £5.00 admin fee if it went through .
And they would sent the refund by cheque to my address !!

I must admit my bank have been pretty good , and they said it may take awhile , but their fraud depot are looking into this !!

Ive learnt a hard lesson , and also realised that these people prey on vunrable people whom they know cannot get loans from proper places due to their credit scores .

Il keep u posted on any more info i receive

ange

[Katharina]

Hi wickedblonde,

I guess you made a typo in the company's website. Please check and use the "EDIT" button to correct it.

Thanks and have a nice weekend!

[richesm]

To avoid paying the £69 pounds all you do is cancel the card you used. Call your bank and say you lost it. That's what I did. No charge, and no come back from them. The idoits.