Welcome finance - struggling & need to take them on!! heeellpppp!!!!

[enaid]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

[QUOTE=Ruby;325182]Shadowcat I know where you are coming from and feel the same frustration you do. No wonder this country is in the mess its in. OFT/FSA/FOS - A COMPLETE MESS !!! Do you think any of these organisations read these sites?

[/QUOTEOh just noticed there is an effin every one lol

[kanine]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

There are a great many issues that are boiling up because of these companies, the point is that the main banks stick their noses in the air and sneer at a lot of funding applications as too risky, yet appear to have funded these companies.


There is a rotten culture running right through the finance industry and the regulatory bodies that if someone deals with a sub prime lender they are somehow culpable for being ripped of by them ( it serves you right ) it is absolutely disgusting the amount of money these organisations take from people. If someone mugs you and takes a fiver off you they will be arrested and charged yet these ( there is not a word polite enough to describe them) lenders can add charges as though they are playing a game of monopoly.

The issue with the regulatory bodies is such they are trying to regulate commrcial gangsters who are using contracts to run their business and the fact is very few individuals can muster the finance to defend themselves from them in the courts, and this is where they win.

The banks are probably only prepared to lend to individuals/businesses that don't need it these days, they will lend to third parties to lend on though, taking the risk from them but leaving the core of the population reliant on unknown companies.


To conclude for what it's worth, the whole thing is rotten from the top down, political /financial incompetence reigns supreme at all levels no one who makes a decisionin government now will have any idea what Mr and Mrs average have to contend with and the legislation and it's inadequencies simply confirm it.

[Ruby]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

I wonder if the new FCA will be any better? Its frustrating that we will have to wait at least another year to find out.

BTW I got a reply from the FOS last week to say that because the sub-crime lender has submitted a tariff of charges to them the FOS felt that the charges were fair!

I have had to explain to the FOS that I did not sign any document to say that I agree to be charge £58 a time for being in arrears and that the tariff of charges were only sent to us after the account was opened. It beggers belief that the FOS side with crime rather than with the OFT !!!!

[Shadowcat]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

I'm getting fired up to send another email to OFT asking what is the point of their warning shots, is it just to get on TV to show us they're doing something [pointless]? As for the FOS saying those charges were fair.....can't say what my mind is thinking, too sweary. They truly despise us, we were just asset fodder clearly.

[Ruby]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

When I received the response from the FOS I called the OFT and practically ended up screaming down the phone and put the phone down on them! (cough, must have been THAT time of the month )

Anyhow, this 'crazed woman' has now had her complaint fast tracked to the ombudsman. Not holding my breath......

[CleverClogs]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

What is the point of the OFT if they don't make examples of these type of companies. Warnings like they gave the payday loan companies are worthless, they tend to just fire out warning shots and not follow them up.

Why do you suppose I call them the Office of Faffing and Twaddling?