Wednesday, 1 September 2010

FLM Loans...

My youngest daughter Michaela took out a personal loan last year in order to pay for her new car. Like, I suspect, many fathers across the country I agreed to be the guarantor. Michaela has made all her payments on time - she gets paid on 28th of each month and the loan repayment is due on 29th of each month. Until August  - when thought they would be smart and try and deduct the amount due two days early. With insufficient funds in my daughter's bank account - being the day before payday - inevitably FLMLoans found that pushing their luck had failed. Cue two text messages from them to me today - and an email which I have reproduced below - along with my reply.

May I respectfully suggest, dear reader, if you are considering taking out a personal loan you give FLMLoans a wide berth. I've known loan sharks who are less threatening...




Date: Wed, 1 Sep 2010 16:46:44 +0100

Subject: Thought you might like to know...

Agreement - *********

Hi Michael George,

I’m confused. Your debit card isn’t working for August's payment as promised.

I've given your case to Kathryn on my Team. They'll call and text you until we've received the money. This is because we promised to keep you in the loop and we always keep our promises. They'll also write to you if they have to.

I'll email you too. This is because I want you to make the right choice and stick to your promise to pay your loan back on time. You can stop all of this before it starts by clicking here; updating your details and paying the £151.19.

Thanks in advance

Tom @ FLM

P.S. You can call our automated payment robot 24/7 to make a payment too on ***********

FLM is a trading name of Financial Processing UK Ltd.Register in the UK, number 4841153.

Registered Address: Walton House, 56 - 58 Richmond Hill, Bournemouth BH2 6EX.

Registered with the Information Commissioners Office Z8738456.

Consumer Credit License Number 557709


Hello Tom

Sorry for the rather informal address but as you didn't bother to provide your surname I have little choice. In fact you didn't give your job title either so I have no idea who you are. It's fair to say I'm rather underwhelmed by your lack of professionalism.

I am the guarantor for my daughter Michaela Smith's personal loan with your company. Having spoken to my daughter about this she advises that the agreement she has with you is that her payment is taken from her bank account on the 29th of each month. For August you clearly thought it a good idea to try and deduct this on 27th - which is the day before my daughter's salary enters her bank account. Yes, this was a bank holiday weekend but a quick look at the calendar tells me Monday was 30 August.

You sent your email to me at 5.15pm today. This followed two text messages from your colleague Kathryn - again, no surname or job title but this appears the way your company does its business. When you sent your email this was several hours after the money due was deducted from my daughter's bank account.

I find the actions of you and your colleague threatening and bordering on harassment - particularly when you apparently didn't bother to contact my daughter whose account the payments are being deducted from. This is the first payment that has been late since my daughter began the loan repayments last year - and this is through no fault of hers - or mine - as you decided to try and deduct the amount due two days early which is clearly against the agreement my daughter signed.

You should now have received payment and therefore I expect tardy communication such as those I have received today to cease. Further, I would hope to receive a full apology but I don't expect you will even consider this.

What I am considering, however, is reporting you and your company to the Financial Ombudsman for your bullying tactics.

I await your response.

Mike Smith


Adullamite said...

Stick the boot in!

Joanna Jenkins said...

Go get 'em Mike. That's beyond wrong for the company to pinch the funds early, even if there was a bank holiday. Sheesh.


Anonymous said...

Cracking reply. It'll be right over ther collective heids I fear.

Divinemsjunebug said...

Very good response Mike. What idiots! I can't believe they did that. I really wonder if they will apologize.

Mike Smith said...

Six days later - I have an apology. I doubt its sincerity but they've said sorry nonetheless.

1st Lady said...

Yikes! They are getting nasty awfully quickly these days.

Anonymous said...

Although I sympathise with what occurred between yourself, your daughter and the loans company, I feel that the letter/email you have written in reply felt more like a rant and a personal attack than a complaint;
“ apparently didn't bother to contact my daughter...”
“...I find the actions of you and your colleague threatening and bordering on harassment...”
“...apology but I don't expect you will even consider this...”
I would avoid using emotional language in future correspondence with any firm, as they are a legal entity in their own right; instead just state the events as what happened and let the facts speak for themselves. By using personal and angry words, you risk sounding libellous.

Mike Smith said...

Anonymous - interesting that you should post in the same week someone from FLM tried to contact me regarding my email, more than two months after I sent it.
The quotes you use are hardly a personal attack, for example no one did bother to contact my daughter. Fact can hardly be libellous.
I had laid this matter to rest but I'm now considering writing to the Financial Ombudsman.

Anonymous said...

Attractive section of content. I just stumbled upon your website and in accession capital to assert that I
acquire actually enjoyed account your blog posts. Any way I'll be subscribing to your augment and even I achievement you access consistently rapidly.

My blog post ... earn money online