Concept Loans

[Coolio1981]

I will do, thanks so much for all your help

[Naomi]

If anyone reading this has had the same experience as Coolio1981 then please post on this thread or start a new one.

Di

My partner had exactly the same correspondence with this "company" today, he was asked to make a payment upfront so they could show the financial conduct authority that he could easily pay the repayments. Obviously this raised alarm bells and we did some research and came across this thread.

[Coolio1981]

That is exactly the same contract they sent me.

[Joanna Connolly Solicitors]

My partner had exactly the same correspondence with this "company" today, he was asked to make a payment upfront so they could show the financial conduct authority that he could easily pay the repayments. Obviously this raised alarm bells and we did some research and came across this thread.

Hello Naomi, and welcome to the conversation

Is it safe to assume that your partner didn't pay Concept any money?

I note they say the money is to satisfy the FCA that you can afford the repayments, but when I spoke to the FCA yesterday they had never heard of the business.

Di

[Naomi]

Hello Naomi, and welcome to the conversation

Is it safe to assume that your partner didn't pay Concept any money?

I note they say the money is to satisfy the FCA that you can afford the repayments, but when I spoke to the FCA yesterday they had never heard of the business.

Di

Hi, thanks for replying, thankfully he didn't pay them anything but did the same as coolio did give his bank details so he will have to contact them I think just to alert them.
I feel quite sad that these "companies" prey on people looking for help.
I will keep everyone updated if we hear anything else from these people.

[Coolio1981]

I dont think any money will be taken from our accounts, they clearly just wanted the money from us & then we'd never hear from them again. I mean I wonder if it's even a proper company or just a few random folk scamming poor people.

[Naomi]

I dont think any money will be taken from our accounts, they clearly just wanted the money from us & then we'd never hear from them again. I mean I wonder if it's even a proper company or just a few random folk scamming poor people.

I hope they don't take any money (not that there is much to take anyway haha)
If you google street view the address that is on their website there doesn't seem to even be a building that goes up to the number they state on their address. I've sat for a good hour this evening trying to find out information on this so called company and haven't found a thing apart from your thread.

[Coolio1981]

Yeah I was the same when I started thinking about it as I thought what they were ordering me was too good to be true! Their website doesn't come up when you Google it.

[Coolio1981]

That should have said offering me lol.

[Colin G Quinn]

That is a very dubious 'Loan Agreement' and notably, at least on the page pictured, nowhere does it purport to be an Agreement regulated by the Consumer Credit Act.

[Colin G Quinn]

In fact, the more I look at that document it is absolutely shocking, and somewhat sickening. Hopefully the FCA take a good look at the reports Di and I have sent to them.

[Coolio1981]

Thanks Colin, I did think it didn't look right, lesson learned, I do feel really stupid.

[Colin G Quinn]

No need to feel stupid, these 'companies', if you can call them that, prey on the unassuming Consumer.

You did the correct and sensible thing by researching the matter and avoided what, on the face of it, could have proven to be a very difficult situation. I'd therefore say you should feel quite smart as opposed to stupid.

[Coolio1981]

Thanks Colin, I am thinking thank God I had the savvy to not give them money.

[Naomi]

Yeah I was the same when I started thinking about it as I thought what they were ordering me was too good to be true! Their website doesn't come up when you Google it.

My other half said the same about it being too good to be true, thankfully on this occasion none of us were sucked into their plans enough for it to all go wrong.