City Financial Loan Brokers....SCAM or NOT ?

A question about : City Financial Loan Brokers....SCAM or NOT ?

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Is this company a scam or am I just paranoid, I paid Ј65 to them today and was told I was to receive Ј5000 by between Tuesday and Thursday next week. I questioned Jonathan who was my advisor about the loan and he told me I'd definitely got it, the APR is 15% and the repayments are Ј118 a month over 5 years.
My problem is I have now been sent the T&C which state they're a loan brokers and not a loan company (which I was led to believe). Now I'm worried am I even going to get my money, has anyone else had any problems with this company or on a brighter note actually had a loan payment like promised ???

Best answers:

• You've been scammed.
  look into their T&C's and WRITE for a refund cancelling your application.
• Is it better to write or phone as on the T&C the numbers on there, or should I do both???
• Write, do not try to call. You will simply get a runaround spending hours on hold for no result (and spending a fortune on calls).
  Write the cancellation letter, print it off, post it recorded delivery
• Yep, as Hamlet said to Macbeth, you've been stitched up like a a kipper.
• has anybody had any succes with this company?
• Here you go this may help
  https://www.oft.gov.uk/news-and-updates/press/2011/62-11
• Did you not think to yourself, "Hang on, I want to BORROW Ј5,000 not SPEND Ј65"?
• I have paid this company for introduction of pre-approved loan providers. I sent the T & C's twice and then finally sent them recorded delivery before they admitted to receiving them. Needless to say I have yet to hear from a loan provider despite their assurances. From what I can make out all of these brokers are scams and need to be avoided. I have had the same problem with an outfit known as Wentworth Direct Finance and have now written to them recorded delivery for a refund of the fee I paid and the 0844 phone call I had to make to contact them that took in excess of an hour just to get a person on the line. Having spoken to Consumer Direct they are in breach of section 155 of the consumer credit act. We shall see.
• Sorry OP, but just have a wee trawl round the net before you pay out ANYTHING up front!
  Good luck tho'
• Well, a few days back I gave Ј65 to these guys, quickly realised what I had done. They called me today asked me if I had had any luck with any loan. I said: Mate, you've scammed me out of my money, I want a refund. I will be sending you guys a letter demanding my money back.
  Immediately the sales guy said: (And please excuse the bad language)
  (Text removed by MSE Forum Team)
  I really should go no further as it got quite sick really. They are scam artists and will do what they can to keep your money.
  Also, can I call the police after what they've said to me? I feel like I have been robbed and now abused.
• Did no-one think of just googling these guys before giving them Ј65? c'mon people.
  I'm not trying to be smug in anyway but it isn't difficult
• What i find hard to understand, is why you would need to pay money for someone to find you a loan ? Does it not ring any alarm bells at all when someone says "give me Ј65 and i'll TRY to find you a loan " ? It's like me standing in the queue at the bus stop and asking the bloke in front "what time is the next bus" and him saying "Give me Ј65 and i'll have a look at the timetable for you" ! You just wouldn't, would you ?
• He'd probably charge you Ј65 for that too.
  I'm surprised he called back after scamming Ј65 out of you. Perhaps the purpose of the call was to persuade you to part with more of your cash. After all, there's a payment release fee, bank transfer fee, etc...
• Hello everyone..
  Long post but Im sure it'll help!
  I have began an investigation into City Financial - and am in the process of starting a formal investigation into them alongside my bank (HSBC).
  I have a limited period to do so as I am keen not to breach their T&C's (of which the sent 2 of; one to my home address another to my email address).
  I telephoned their customer care team - to no avail, then decided to let them know of my intensions of taking legal action against them.
  They then answered the phone the following time - a cow of a lady answered the telephone and said I was not entitled my money back.. Although in their T&C's.. within 14 days I AM!!
  Now, I have a legal background and have spent a good few hours reading through the T&C's alongside Anglo law.
  These people operate under many names and through two telephone numbers and also an email address.
  The Email address: INVALID
  one of two numbers only gets answered VERY occasionally.
  and the worst part of all SO FAR - their address is not only not their address but after much research and tracking is a medical company.
  These people are horrific people who stop at nothing for money!
  I shall be keeping everyone up to date on my investigation and if I find a way of getting money back shall be giving everyone the key to their money!
  Please a warning to anyone who's in real desperation, go to your local council/financial charity/CAB for help.
  There is help out there, dont give in to the temptation of the internet..
  "If it seems too good to be true, it probably is!"
  Poor Princess x x
• I stupidly paid City Financial Loans Ј65 6 weeks ago. The woman on the phone
  said it was definitely a real loan, I asked are you a broker, she said no. I said is this a scam,
  she said that they were a reputable company "otherwise we would have been shut down by now". She warned me
  that they've been hacked by some scammers from an Indian company who
  phone to say they have your loan and ask for your bank details. She said
  if anyone Indian phoned me I must not give out my details. For the next few days
  I was bombarded with calls from Indian call centres all saying they were phoning about my loan. They quoted my
  City Financial reference number with one digit wrong but had my name and knew the amount I wanted to borrow.
  They wanted my bank details to set up the payment of the loan but when I refused, saying I'm not
  giving out my info over the phone and asked them to post me a loan agreement. They got defensive then, "oh, do
  you don't want the loan then?" and hanging up. I rang City Financial and they said I'd done the right thing
  and not to speak to any Indian loan companies who phoned me as its a scam. The next day when another Indian
  call centre phoned me I told them this and got accused of being a racist! I rang City Financial again and they said "all the companies we deal with are English so that's how you'll know they're genuine. If the scammers ring again tell them
  your phone calls are being recorded by the police". So when the next call from an Indian call centre came I told them the police were involved. They hung up and that's the last I heard from any Indian loan companies.
  However, those Indian companies are the only people who have contacted me regarding the City Financial Loan I was supposedly
  getting. I haven't had any genuine loan companies contacting me, even though City Financial
  told me that my loan was approved and I'd be contacted within 5 days. That was 6 weeks ago.
  I don't know if the Indian scam is part of City Financial or not. Perhaps they set it up deliberately to
  make City Financial appear reputable in comparison?
  I've been unable to get hold of City Financial to ask them when my loan is coming through. Phoning them
  I just get a recorded message saying someone will phone back but they never do.
  On their terms and conditions it says if they can't provide a loan within three months, clients can claim
  a refund of their original fee. So once it gets to 3 months I'm going to do that and I'll send copies of my letter
  to the Financial Ombudsman and every other official organisation I can think of.
  The City Financial staff blatantly lie on the phone - it's obviously how they are trained. I don't
  know how they sleep at night doing that job, they must know that their employers are
  liars.
  DON'T FALL FOR IT LIKE I DID!
• Roll up,Roll up who's next for the great Ј65 con.How do they sleep at night - easy, they get paid to do a job that's it.
  After the job they go home.I'm not saying it's right,I'm just saying it happens.
  They have T&C's you agreed to then they took the money you said they could have and did what they said they would do, i.e. passed you onto lenders.
  Everything else is mere detail.