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Likely Loans

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  • Likely Loans

    Interesting but potentially scary situation

    Each month I get my call credit and noddle credit reports and they often have 'offers' of available credit.

    This month Likely loans came up so i thought hell why not have a laugh and see if they would lend me any money

    I completed a few very basic details, name address phone number

    I then got an email saying you are approved we will do some more checks - had that type of thing before and they come back and say no thanks

    I did not provide my bank details nor did i sign anything

    Anyway today when checking my emails I found one saying here is your loan agreement and the money will be paid into your account by the end of the day . I checked and found £4K - yes £4K in my bank account.

    The loan agreement was supposedly signed at 22.12 on 3/5/2017 by me typing my name . It is signed in my sunday name which i almost never use, what little credit i have is in my daily name

    I am kind of angry
    With me for applying although i was just curious
    With them for forging my digital signature
    With them for paying £4K into my bank account
    How did they get my bank details- must be from clearscore

    I have arranged to transfer the money back but it means going home to get the card reader so I can set up the payment,

    They have promised they will remove all trace from my credit file

    It is odd that this month clearscore have removed all defaults from my credit file although at least 2 are still valid

    Not really expecting a response, just ranting

    Anyone who knows me will know the lengths i go to so that i do not have large sums of money in my bank account - I could quite easily right now be spending spending spending. I would love a new Mac , Ipad, Iphone
    Tags: None

  • #2
    Re: Likely Loans

    :o ... is it REALLY that easy ffs?!?!
    Debt is like any other trap, easy enough to get into, but hard enough to get out of.

    It doesn't matter where your journey begins, so long as you begin it...

    recte agens confido

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    • #3
      Re: Likely Loans

      It was really that easy

      I wouldn't lend me money and they paid 4K into my bank account.

      They didn't even seem shocked when I said I hadn't signed the agreement

      Comment


      • #4
        Re: Likely Loans

        gosh

        what was the interest rate out of curiosity - they quote a representative APR of 59.9%

        were you asked for any details about income? expenditure?

        Comment


        • #5
          Re: Likely Loans

          A whopping 65.9% APR

          The only info asked was my monthly expenditure and my rent

          It seems , after having gone back through I did have to put my bank details in

          i have repaid the money by direct payment and it has now left my bank , I also have an email saying the agreement has been cancelled.

          To be honest for a moment or 5 I did think about a 3500 spending spree then BR = until my rational head kicked in.

          Comment


          • #6
            Re: Likely Loans

            Originally posted by warwick65 View Post

            I wouldn't lend me money........
            No worries, Warwick.
            You can lend it to me instead!
            CAVEAT LECTOR

            This is only my opinion - "Opinions are made to be changed --or how is truth to be got at?" (Byron)

            You and I do not see things as they are. We see things as we are.
            Cohen, Herb


            There is danger when a man throws his tongue into high gear before he
            gets his brain a-going.
            Phelps, C. C.


            "They couldn't hit an elephant at this distance!"
            The last words of John Sedgwick

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            • #7
              Re: Likely Loans

              My only comment is what would have happened if your bank account had exceeded the overdraft limit so you weren't in a position to return the funds if your bank 'helped themselves ' to some or all of the credit paid in.

              I'm not suggesting you are overdrawn - I was referring to the principle. Maybe that's why they do it so consumers can't return the unasked for loan

              Di

              Comment


              • #8
                Re: Likely Loans

                [MENTION=87380]Diana M[/MENTION]
                That was my line of thinking .
                Also they said they have set up a DD which I will have to keep an eye on, additionally the 'agreement' said I had a right to cancel but interest would be charged on a daily basis of nearly £6 from when the money arrived to when it was returned. However, Stu on the phone- I have a recording- said there was no interest to pay

                As these loans are targetted at people with a poor to rubbish credit rating - how tempting would it be to have used it

                Comment


                • #9
                  Whats more concerning this company with its parent oakbrookfinance has added a search on my credit file yet i have not even applied for the personal loan!
                  no idea if its someone using my details as yet being i have only a out of office reply. be interesting.

                  Comment


                  • #10
                    Have you applied for any sort of loan, it maybe you thought it was a provider but it was a broker

                    Comment


                    • #11
                      Originally posted by warwick65 View Post
                      Have you applied for any sort of loan, it maybe you thought it was a provider but it was a broker
                      Thanks for your reply.

                      Nope, have no need for a loan of any kind, even buying vehicle insurance i buy outright upfront in one lump. If I needed money I would go to my bank, certainly not to a lender thats for those with bad credit ratings which is quite obvious from the site description.
                      Thing is the credit report link takes me to my list of accounts but none of them relate to either company name and are all either banks, utilties or similar.

                      Comment


                      • #12
                        BLimey Warwick, this is the first time I've read this thread. Appalling. I hope you reported it to the FCA ? Presumably it can't happen like that now... I'd like to think not. But you can see how people end up in such poop.

                        On the credit file issue, I was looking at car insurance / finance and whatnot a few weeks back, and found searches on my file from companies I would never touch with a barge pole, ahhh here... I checked back through my browser history on puter an dphone and couldn't see anything even remotely linked to those companies.
                        Click image for larger version  Name:	2018-04-06 11_45_02-Start.png Views:	1 Size:	22.3 KB ID:	1398818

                        Except HMRC of course, I love them I didn't apply for ANY or fill in my details anywhere, so can only assume it's actually from the insurance searches Daughter was doing ( she's barred from doing that now ) I'm keeping a close eye on it anyway.

                        ( my 'rating' went down at the same time, doesn't bother me as I've got another couple years before even thinking about needing a clean file )


                        #staysafestayhome

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                        • #13
                          Sorry, my point .... have you done any insurance quote searches, price comparison etc lately ?
                          #staysafestayhome

                          Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

                          Received a Court Claim? Read >>>>> First Steps

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