Cash Finance Loans

[jasjun]

Has anybody heard of these people. They tell me that they have two loan companies waiting to give me a loan. They do not charge an admin fee but I do have to dial an 0905 number to go through the details. If I dont take the loan they tell me that they will refund the phone call on receipt of a copy of my phone bill. I do not want to get stung again - any comments welcome.

[Loosehead]

Do not touch with a bargepole. you dial the number and they'll keep you on the line for ages racking up a bill. You won't actually get a loan because they do not do loans they take money for trying to get loans for people that have bad credit ratings.

[buildersmate]

Tell them you are not prepared to sit and wait on an 0905 number. If they would like to give you the normal dialling code number, you are happy to call them and wave your right to claiming the phone call costs back, otherwise refer to Loosehead's answer.

[Oneeyedvic]

You could try googling the 0905 number - this may get you other people who have tried / failed.

[jasjun]

Thank you all for your help on this. I am naturally very very wary with regard to phoning this number as I have already been stung twice by two brokers - one for �35 and another for �49 promising me a loan. I cant afford to do anything so stupid again. Ironic that in approximately 3 months time I could be settled financially but in a catch 22 situation. I need money to get to the money - my divorce settlement.

[Postdog]

Just to add, to me this sounds a rip off, and I agree with what has been said so far. Even if you are tempted on the basis that in 3 months you will be able to settle anyway, be aware that lots of companies make sure they get their money's worth my charging penalties for early settlers.

[yummymummy]

Brokers are allowed to charge a fee, but if you don't take on one of their recommended loans within 6 months, they are only allowed to keep �5 of the fee and have to return the rest. Not sure if this info helps?!

[itsallyellow]

Refer to Looseheads answer. Don't do it.I was in a similar situation. They tell you "we can get you a loan but you have to call this number which is always an 09 number. This is how they get their fees (�49, �29'95 or what ever) They'll keep you on the phone for half an hour and then when your half an hour is nearly up they'll speak to these companies who are just another lender. You will have to go through all the normal standard checks like any other lender ie credit checks, they'll say no and then you have to call again to for the next company. The broker are just checking you against standard criteria, they don't care who or what you are basically as long as you have ticked the "I want money box" they'll take you on. The only way to claim your money back is after 6 months or 1 year when they haven't found you a loan. It as on a watchdog program recently and I think it ws 90% of the time these companies never get the company a loan and the other 10%is when the customer was too stupid to realise his credit history wasn't that bad and the company sent him a letter to say it was.

[born85]

I found this post after googling '0905 loans' after receiving a phone call telling me I could have a loan if I rang this 0905 number.

I knew it would be a scam. Glad I didn't phone it, and no way should anyone phone them.