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PDLs A WARNING

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  • #1

    PDLs A WARNING

    Just a note because this doesn't seem to have been made very obvious.

    I have 'tested' the PDL market and would like to WARN that, if you take out a PDL, have 'difficulty' paying it off ( or even if you don't ) you will be snowed under by offers from, apparently, different PDLs.

    Beware.... many of them are handled by Broker Companies offering Loans from the same Lenders under different names so if you owe to PDL A, decide to borrow from PDLs B C and D whilst not paying A you may find that your details get passed on to linked Companies who will then take your money using the 'new' Bank details.

    This did NOT happen to me, it could happen to you.
    Tags: apr, bank, bankrupt, broker, brokers, car, cashnet, companies, con, consumer, consumer credit, credit, debt, details, finance, financial, firm, investigation, lenders, lending, licence, loans, money, offers, oft, online, owed, pay day, payday, pdl, pounds to pocket, quickquid, warning
  • #2
    Re: PDLs A WARNING

    Indeed you need to do your research. Not always easy to find out who is connected in the financial sector. Of course the simple answer is not to use em like wot i don't. Lol.

    Comment

    • #3
      Re: PDLs A WARNING

      Originally posted by pepe2008 View Post
      Just a note because this doesn't seem to have been made very obvious.

      I have 'tested' the PDL market and would like to WARN that, if you take out a PDL, have 'difficulty' paying it off ( or even if you don't ) you will be snowed under by offers from, apparently, different PDLs.

      Beware.... many of them are handled by Broker Companies offering Loans from the same Lenders under different names so if you owe to PDL A, decide to borrow from PDLs B C and D whilst not paying A you may find that your details get passed on to linked Companies who will then take your money using the 'new' Bank details.

      This did NOT happen to me, it could happen to you.
      Hi Pepe

      Unfortunately this is quite common and I have provided warnings on this in the past. Its also not just brokers. If you look at Quick Quid for example (Cash Euronet UK LLC), you would be astonished at the number of trading names they operate under:

      Cash Advance Lender Cash Advance Lending Cash.Advancelending.Co.Uk Cashadvancelender.Co.Uk Cashadvancelending.Co.Uk Cashnet.co .uk Loan Pay Day Loanpayday.Co.Uk Loans Pay Day Loanspayday.Co.Uk Pay Day Advance Lending Pay Day Loan Cash Payday.Advancelending.Co.Uk Paydayloancash.Co.Uk Pounds to Pocket Pounds to purse Quick Pay Day Quick Payday Quick Quid Quick-Payday.Co.Uk quickquid.co.uk quickquid.com ThePaydayComparison.co.uk Uk Fast Cash Online Ukfastcashonline.Co.Uk Web Cash Loans Webcashloans.Co.Uk Your Cash Loans Yourcashloans.Co.Uk
      Notice for example 'Pound To Pocket' - go to this website and they offer 'longer term' loans of between 6-12 months.

      So you have defaulted with Quickquid, go to Pounds To Pocket thinking you will take out a longer loan with lower APR and then you know what happens.........

      I won't single out QQ either. There were several occasions when I used to post on MSE where Payday UK (MEM Consumer Finance) also took peoples money who had applied for additional loans after defaulting with the 'parent' company.

      Of course its too late to argue the toss when they have got your money and you cannot put petrol in the car to get to work.

      Its this sort of activity which has now got OVER 20 PDL companies under investigation by the OFT.........
      "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

      The consumer is that sleeping giant.!!


      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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      • #4
        Re: PDLs A WARNING

        Originally posted by jon1965 View Post
        Indeed you need to do your research. Not always easy to find out who is connected in the financial sector. Of course the simple answer is not to use em like wot i don't. Lol.
        pmsl ! Use/abuse .... one naturally follows the other

        Comment

        • #5
          Re: PDLs A WARNING

          If you check this Link, this will give you an idea, also if you check the main body PDB UK LTD, they are the ones that passes the leads. As you can see on the link, that i found 6 trade names under 1 Consumer Credit Licence:

          allaboutFORUMS - View Single Post - Ex-bankrupt Kerry Katona promotes payday firm
          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

          Comment

          • #6
            Re: PDLs A WARNING

            Only 6?
            123payday
            12monthloans
            Cash-In-1-Hour
            Cashlady
            Cashpayday
            Cashsquid
            Cashtillpay
            Cheetahpayday
            Citycashloans
            Fastpony
            Flexcredit
            Flexloan
            Iloans
            Kwikcash
            KwikPayday
            Moneymatch
            Mycashtoday
            Mypayday
            Onestopcash
            Paydaybank
            Paydaycentre
            PaydayDirect
            Paydayin1hour
            PaydayLine
            Paydayloans300
            Paydaynextday
            Paydayselect
            Quickmonkey
            Quicksquid
            Samedaypaydayloans
            Whichpayday

            All current trading names of PDBUK

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