Warning – EPM your-money.tv, power-funding.biz

We have recently encountered multiple complaints regarding unauthorised debit card payments made to customers’ accounts from a loan company called EPM your-money-tv.  The company also bills itself as Power Money Biz.  Firstly, we would like to point out we have never worked with this company; we do not work with companies who charge customers fees for arranging a loan.  We find such arrangements unethical, particularly as some of the customers who were duped into using this service did not fit any of the criteria for being accepted for a loan anyway.

The issue first came to light when numerous customers found that amounts of between £60 and £80 had been taken from their debit cards billed as either EPM your-money.tv or Power-Money.biz.  These domain names are registered to a mailing address in London – London. 1 Liverpool Street, London, EC2M 7QD.  The telephone number listed is 0844 704 9707.  The customers had no recollection of agreeing to pay such amounts and the debits caused severe financial difficulties for many people, particularly people on very low incomes and benefits.

When we checked into this we can across a company called Power Money Biz who on first glance appear to offer no credit check loans for people with bad credit.   A further delve into the site revealed that this is in fact a “membership site” for people who want to get a loan – and there is no guarantee that customers will be accepted for finance.  In short, this is a loan broker using dirty tactics to dupe people into paying £69.95 in the hope they will be accepted for a loan.  The fee which is debited represents the “membership fee” which is taken 14 days after customers have filled in an application form, just enough time for a customer not to be able to connect the loan application with the debit card transaction.   For customers who have not read the small print by proceeding with the application form they have unwittingly agreed to pay the membership fee, which is not clearly obvious on the site.

Power Money Biz claim that they can always help people to get a loan. What they omit to point out is that some of these loans are guarantor loans which virtually everyone can get anyway.  It gives people false hope that they will be accepted for a loan, particularly people at their most financially vulnerable.  Some people are only requiring loans for £100 and they are charged £69 for the privilege.  It would be laughable if it wasn’t so despicable.

For any customer who has fallen prey to these charges, the first port of call should be the bank.  Explain that the transaction was unauthorized and in most cases the bank should be happy to refund the money. Next, take a look at the Direct.gov consumer advice site http://www.direct.gov.uk/en/Governmentcitizensandrights/Consumerrights/Howtocomplainaboutgoodsandservices/index.htm which shows how to complain about the company.

Legitimate loan brokers do not charge customers directly; their commissions are paid by the finance company that they introduce the customer to.  When dealing with all things financial, if it sounds too good to be true, it usually is.

Scamming the payday loan companies

I recently came across an article by a licensed claims management agent detailing how to scam the  payday loan conpany Payday Express.  He was advocating people cancel their debit cards to avoid repaying payday loan companies with little regard to how this may affect the applicants future credit.  He went on to detail a scam in which people would repay only 30% of the debt owed to the payday loan company.  Not only is this ethically and morally wrong, but a dangerous game which leaves applicants open to allegations of fraud -and possibly even a criminal record.

Payday loans are designed to be short term loans repayable on your next payday.  Before issuing a payday loan the company considers the applicants ability to repay the debt on the day promised.  The amount of interest which is charged and any other charges are clearly laid out.  If there is doubt as to the applicants ability to repay the debt then the loan will not be issued.  Of course circumstances change, and there is always the potential for the applicant to be unable to meet the repayment when it arises.  Payday loan companies understand this.  If you cannot afford to repay a payday loan work with the lender to come to a resolution, most lendefs are happy to help and will reduce charges or payments accordingly.

The article suggested telling Payday Express you had been made unemployed and offering to pay back 30% of the amount borrowed, reasoning that Payday Express wouldnt be able to take any further action.  This again is wrong, Payday Express can not only pursue the case through the courts if they wish, but also the matter will be reported on your credit record. If you are found to have deliberately lied about your circumstances to avoid paying your debts you could even end up in court.

This article angered me as Payday Express are amongst the most reasonable of all payday lenders if a customer has a problem.  Payday loan companies do charge high rates of interest but they provide  useful and necessary service for many people who cannot get money from other sources or borrow it from banks.  Abusing the system will ultmately lead to even higher interest rates for everyone.

Unemployed Loans

If you are unemployed or on benefits and need a loan, many lenders are unwilling to help.  However, we have a solution – Provident Personal Credit doorstep loans.  Provident can help in a wide range of circumstances including unemployed.  They have a network of friendly local agents who collect your repayments each week direct from your door so there is no need to set up direct debits or worry about sending payments off in time.

Provident offer two basic types of loan cash doorstep loans and budgeting loans.  Budgeting loans are repaid over 14 weeks and can be for up to £300.  There are no hidden charges and you dont even need a bank account to get this loan.   If you borrow £100, you will pay back £10 over 14 weeks, which adds up to £140.   14 week loan APR 1068.5% APR

Cash doorstep loans are for up to £500 and you can coose from 23, 31 or 52 week options to repay your loan.  Loan repayments are collected from your door by your local agent, and there are no hidden charges and no fuss.

Find out more about how Provident Could help you and Apply Online

Quid Til Payday – any credit accepted

Need a fast, easy Payday Loan?   Quid Til Payday are our newest payday lender and can lend between £80 and £750.  Any credit type is accepted so dont worry if you credit is bad or you have CCJ’s, Quid Til Payday can still help.

Apply online in just five minutes with a simple one page form.  Funding can be in your bank account in as little as one hour.

Representative example: Borrow £225 for 29 days.The total charge for credit is £67.50. Interest is fixed at a rate of 377.8% p.a. The Total Amount Repayable is 1 payment of £292.50.

Apply Now Online

Money Barn – Bad Credit Car Finance

If you have bad credit, getting a loan to buy a new car can be tricky.  However, new lender Moneybarn specialise in providing low cost car finance for people with bad credit.  Even if you have been refused credit for a car elsewhere, Moneybarn can probably help. They can assist you with bad credit card finance even if you have bad credit, arrears, CCJs, an IVA or are a discharged bankrupt.

You can borrow between £5000 and £25,000.   You can purchase your car from any dealer, and Moneybarn will finance most car purchases.   However the car you want to buy must be less than 7 years old with 70,000 miles or less on the clock.    The vehicle must not be a commerical vehicle, left hand drive or import.

Moneybarn can help over 90% of applicants making them one of the highest acceptance rate car finance companies around.  Because they take into account much more than your credit score, including any part exchange you may have,  then they can help a wide range of applicants.

A Fast Service
You can apply online, and your application will be dealt with in one working day.  Often the company can pay out in as little as 24 hours so you could be driving your new car quicker than you think.   All you need is a copy of your valid UK passport, valid UK driving licence (both parts) and 2 months consecutive personal bank statements or payslips showing your income.

Do I need a Deposit?
You may have to find a deposit depending on the car you wish to finance.  In many cases your existing vehicle can be used as part exchange in lieu of a deposit.

What is the Criteria for Getting  a Loan
All applicants to be at least 21 years old, hold a valid British passport, hold a valid British driving licence, be in employment or self employment, have a bank account that accepts direct debits and live in England, Scotland or Wales

Apply Now for Bad Credit Car Finance

Quick Quid – Payday Loan Direct Lender

Quick Quid can offer fast, easy payday cash advances which can be repaid over one or two pay periods.  They are a direct lender so they can offer fast approval, and once approved the money is sent to your account within one hour – 7 days a week.  Quick Quid offers a flexible option in that you can choose to repay over two pay periods – simply repay the interest at the end of the first period and repay the loan in full at the end of the second period.  You can also choose to rollover your loan up to five times so long as you repay the interest each month.  New customers can also borrow up to £1000 making a Quick Quid Loan one of the biggest payday loans available.

Quick Quid Now Offer FREE one hour funding and 30% discount using code AFF30

Quick Quid at a Glance

Apply Online Now and Have Funds in Your Account in One Hour

Quick Quid Review

Quick Quid are in my opinion one of the best short term cash lenders in the market place today.  If you need a loan for longer than a couple of weeks – for example 60 days or so you can choose to have your loan repaid over two periods rather than one.  At the end of the first period you make a small repayment on the interest, and at the end of the second period you repay the loan plus the remaining interest.

Aside from this, you can also roll over your loan up to five times – repaying the interest each month to prevent ending up with a monster loan repayment.  They process loans fairly quickly – I applied at 11.15am and was immediately sent an illustration of my loan and the likely repayments, and they kept me up to date over the next half an hour or so on how my application was progressing.  About 35 minutes from filling the online form in I received a nice text message to say the money had been sent to my account.

It took about a further 20 minutes for the money to show as cleared funds in my bank account but that was more likely to be my bank than anything else!

You can repay your loan in full or make smaller payments at any time by accessing your account.  Once you have successfully paid off three loans you become a preferred customer and save 10% on your loan.

My credit is not very good yet Quick Quid still lent me money.  They are sympathetic to credit problems and will consider your application regardless.  I would recommend Quick Quid to anyone  – MK West Midlands

Click for Cash from QuickQuid.co.uk

Text Loans Send a Text Get £100

Text loans are one of the most simple and modern ways of borrowing, and the new Txtloans service can offer you an instant loan of £100 just for sending a text.  All you have to do is register for free with the text loans service and receive your personal PIN number from them.  Then, whenever you need to borrow £100 you send a text containing the amount you want to borrow and your PIN and the money will be in your account instantly.   Text loans are quick, easy and simple – you pay back £117 on a loan of £100.  Loans can be over up to 15 days.   Its like having a personal overdraft of £100 whenever you need it.

Txt Loans at a Glance

Click Here to Register for the Text

Text Loans Review
Text Loans are like having a friend who is willing to lend you £100 for a couple of weeks whenever you need it.  Once you have registered you can apply for a lona whenever you need it just by sending a text.  You will receive the loan documents back by text and the money will be sent to your bank account immediately.  You then pay back £117 on the prearranged date.  If you cannot get an overdraft a text loan is a useful standby in case of an unexpected bill.

Even if you have bad credit then you will still be able to get a loan.   Txt Loan do not use the three main credit reference agencies in the UK. Instead they judge your application on its merits, rather than your past credit.

You register for the text loan service online with some basic information.  There are no phonecalls – no faxes and no intrusive questions.  All you need to provide is your basic information, name, address, telephone number, your montly income and your bank account and debit card details.  Approval takes about 15 minutes.  Once approved you can apply for a loan any time you want just by sending a text with your PIN number.  The money will be winging its way to your bank account instantly.

Apply for a Text Loan Now

No credit check loans of £5000

If you have poor credit, getting a loan of more than £1000 can be nearly impossible.  Solutions Loans have a new product designed for people with very poor credit and they can lend you up to £5000 with no credit checks needed.   Loans can be completed in as little as 48 hours and the money can be used for any purpose.  To get a no credit check loan from Solution, you will need to be able to provide a guarantor – this can be a friend or relative – anyone who is willing to guarantee that you will pay back the loan.

Solutions Loans at a Glance

Solutions Loan Review

Guarantor loans are an ideal form of borrowing for anyone with a bad credit history.  So long as you are not currently on an IVA or bankrupt, and can find a guarantor, it is very likely that Solutions Loans can lend you the money you need – up to £5000.   Because the loan is backed by another person, your credit history does not matter, and in fact if you keep up the repayments on your loan, you can actually improve your credit rating.

Your guarantor will not have to do anything so long as you keep up the repayments on your loan.  If you are unable to make the repayments then the guarantor promises to step in and cover the repayments.   Your guarantor will need to be over the age of 23, have an income of £800 a month or more, be a UK homeowner with a good or slightly imperfect credit history.  If you fail to make the loan repayments on time, then the money will be collected from your guarantor by direct debit.

You can repay the loan off early at any time if you desire with no penalties.   You can also make overpayments if you wish to reduce the amount of your loan.

Loans can be completed in as little as 48 hours from application.  Once completed the loan will be paid directly into your guarantors account.  It is then their responsibility to transfer the money to you.

Apply Now for up to £5000 from Solutions Loans

Wonga 15 minute loans

Get cash into your bank account in just 15 minutes – that is what Wonga promises and that is what Wonga delivers.    Apply online, your loan is approved instantly and within quarter of an hour the money is sitting in your bank account or if you prefer paid directly to your creditors.    First time lenders can borrow up to £400 and once you have paid your first loan back successfully then your Wonga trust rating is increased allowing you to borrow more cash.  You can also top up your loan or extend the period once your loan is active.

Wonga at a Glance

Apply Now for a Wonga Loan and the Cash Could be in Your Account in 15 minutes

Wonga Review
Wonga promises to be the fastest cash loan company in the UK with your loan being available in your bank account in just 15 minutes.  The whole process of applying for a loan right through to the money being available in your bank account takes less than 20 minutes in total. You can apply totally online, Wonga just ask some very basic questions about your income and identity – there is no need to fax any informaton or speak to anyone in person.  Once you have submitted your details a decision on your loan will be made instantly – you will then be transferred to a screen with a virtual loan agreement which you can choose whether or not to agree to.  If you agree the money is sent straight to the bank account you specified.   Most banks in the UK can accept Faster Payments which means the funds will be cleared and ready for use instantly.

Wonga are a very flexible loan company – you can decide exactly how much you want to borrow right down to the pound, and over which period right down to the day.  If you need to extend your loan for a month then that is not a problem either – you can adjust your loan right in your account when you have an active loan. You can also add more funds to the loan or repay all or some of the loan whenever you wish.  By choosing to repay early, you will save yourself interest charges – Wonga shows exactly how much you will save by repaying the loan early.

Once you have repaid your first loan, Wonga will increase your trust rating so you can borrow more money.  Initially you are limited to borrowing £400.  Another service Wonga offer is that if an unexpected bill comes in, you can choose to have your loan paid directly to your creditors.

Apply for a Wonga Loan Now

Logbook Loans

A logbook loan is a loan which is secured on your cars documents – form V5 which is often known as the logbook.  A logbook loan is secured on the equity in the car, and you keep full use of the car.   It is a form of secured loan, which is secured not on property but on the car itself. If you fail to pay off the loan then you could lose your vehicle.

Logbook loans usually have lower interest rates than payday loans or other unsecured cash loans.  In order to qualify, you must have a reasonably new vehicle – most logbook loan companies require the vehicle to be ten years old or less.  It also must have a valid MOT certificate and tax disc and the documents must be in your name.  Lastly, the vehicle should be clear or almost clear of finance.

Logbook Loan Companies in the UK

Mobile Money
Mobile Money offer the fastest logbook loans in the UK with cash in your hand in just one hour.  They will lend on cars, van, motorbikes and even motor homes.  You can unlock the money tied up in your vehicle in as little as 60 minutes from the time you contact Mobile Money.  With local branches throughout the UK, and an easy online application form, you can get the money you need today.
Borrow Between – £500 – £25000
Repay Over – Up to 36 months

Apply Now Online for Your Logbook Loan