Legal Advise Please (Loan Sharks)

_Josh

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Mar 5, 2015
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If someone could assist with legal advice I would appreciate it to aid me in taking the next step forward. I applied for a loan on Loan--- but didn't forward any information for the next step to process it. Anyway while applying, unknown to me I was also applying for their "service package" which they already deducted for the activation fee, its a useless email about legal advice every month. I only noticed this yesterday when I asked to unsubscribe and was told I would be facing "penalty charges" for the months for the term of the service package. About R1K penalty for cancelling the service package for 1 legal advice email every month.

I don't want to pay. I have also noticed they processed all the information I provided, but I mistakingly missed 3 digits of my I.D, as it shows on the "settlement". Does that help me in a way or am I ****ed?

This is not a registered financial services provider, are they able to extract my full II.D using my bank details as someone told me?
 
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froot

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Oh my.
You fell for a loan shark?
If they're not a RFSP, tell them to go jump.
They cannot get your ID number from your banking details, as the bank would have to provide confidential information in this regard. There are other ways of getting your information though.

The best advice I can give you though, get a lawyer and put them on it. If you can't afford one, a legal clinic may be able to assist you.
 

Hamster

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Name and shame! ... so we can actually see the application pages.
 

_Josh

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Mar 5, 2015
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LoanPickerSA . co . za. Look, they approved the loan and told me to send additional documents for them to finalize the sending, which I didn't, so I did not receive the loan, but they still put me on their "Service Package", a very useless one IMHO.
 
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Tman*

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Oh my.
You fell for a loan shark?
If they're not a RFSP, tell them to go jump.
They cannot get your ID number from your banking details, as the bank would have to provide confidential information in this regard. There are other ways of getting your information though.

The best advice I can give you though, get a lawyer and put them on it. If you can't afford one, a legal clinic may be able to assist you.
Don't "tell them to go jump"

Rather get credible legal advice on how to handle this. You don't want this debt to accumulate exponentially, and possibly 2 guys with baseball bats knocking on your front door.
 

Nether

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LoanPickerSA . co . za. Look, they approved the loan and told me to send additional documents for them to finalize the sending, which I didn't, so I did not receive the loan, but they still put me on their "Service Package", a very useless one IMHO.
If you informed them to cancel it within 5 working days they cannot levy a penalty charge.

Also, without your signed direct consent they're screwed and just trying to sneak in extra charges.
 

yebocan

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Had a quick read through their terms and conditions...

https://www.loanpickersa.co.za/lpsa/terms-of-service/

Seems their "Service Pack" is their primary business product...as for their Loan Shark activities...they act as an intermediate/middle man between you and financial institutions, to secure a loan. My understanding is that, once you submit your details on their website...you subscribe to their service pack...irrespective of whether they are successful in your application for credit. Dodge as ****.
 

_Josh

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Mar 5, 2015
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Well, I don't want to pay, and just worried about receiving a summons or call from debt collection, that's why I want to find out if there is a way around this, because how vsn you provide a service but no necessary securities to ensure the correct and valid details, such as accepting a 10 digit-long I.D
 

diapason

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If someone could assist with legal advice I would appreciate it to aid me in taking the next step forward. I applied for a loan on Loan--- but didn't forward any information for the next step to process it. Anyway while applying, unknown to me I was also applying for their "service package" which they already deducted for the activation fee, its a useless email about legal advice every month. I only noticed this yesterday when I asked to unsubscribe and was told I would be facing "penalty charges" for the months for the term of the service package. About R1K penalty for cancelling the service package for 1 legal advice email every month.

I don't want to pay. I have also noticed they processed all the information I provided, but I mistakingly missed 3 digits of my I.D, as it shows on the "settlement". Does that help me in a way or am I ****ed?

This is not a registered financial services provider, are they able to extract my full II.D using my bank details as someone told me?
I've had a look at their website. In order to get as far as you did, you must have clicked on the box indicating that you had read and understood their T&Cs, and not to continue if you did not agree with their policies. If it was "unknown to you" it's because you ticked without reading.
 

diapason

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OP is not the only one to be have caught in their little venture...

https://hellopeter.com/loan-picker-sa
Loanpicker is also not the only company which operates in this way. A couple of years ago this was happening with Loan Discovery. They were another one where people clicked that they accepted the T&Cs without reading them. By clicking they were accepting the main product which came with a charge, and that then enabled them to get loans.
 

marioat1

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Loansa did the same thing. Conveniently the t&cs page never opens so you click accept. Then the mandate email comes through detailing the subscription services
 

ToxicBunny

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This pretty much flies in the face of the CPA, so I would tell them to get fscked in no uncertain terms. Hiding a subscription services in the T&C's is not ethical in the slightest.
 

xrapidx

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This pretty much flies in the face of the CPA, so I would tell them to get fscked in no uncertain terms. Hiding a subscription services in the T&C's is not ethical in the slightest.
I'd do the same, and tell them to go ahead with action, you're already busy lodging a complaint with the consumer commission.
 

BlackMamba

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Had the same problem 2 years back, they debited my account but I then reversed the transaction, they never did a thing up until today
 

Thor

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Definitely not ethical, but this is not illegal since you clearly agreed to it in the Ts&Cs
 

marioat1

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Definitely not ethical, but this is not illegal since you clearly agreed to it in the Ts&Cs
However if t&cs direct to a broken link and all pages leading upto this state free application but you can't click apply without ticking t&cs?
 
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