Late repayment fraud

1800 Lender Fraud is the go-to company to help talk you through any legal disputes or possible fraud that you may be experiencing with a loan lender currently. There are so many lenders and companies that are currently operating with a level of fraud that most customers are not aware that they are being scammed or placed under fraudulent terms and conditions. The issue with this fraud is how much it can affect you in the long term.

One such example was a personal loan customer who worked with one of the biggest banks in the United Kingdom. When you are working with such an established company, one of the last things that you would expect is a cause of fraud. But some lenders operate with a level of fraud that is hidden within the terms and conditions of the contract that is signed by the customer, and due to the amount of find print it can be so difficult to find.

The main issue with this company was their late repayment terms. They would only allow 3 days before they would follow up legally. Now, the issue is that customers were told they get a two-week window for late repayments before they are taken to a legal battle. When you give a customer three days, there is every chance they may not be aware they have not paid their loan. This is especially true if it is a direct debit that has simply failed to go through that day.

Many customers hide these secret terms into contracts, and we have taken this specific company to court multiple times for breaking this rule. It has become such a process that now customers are simply settled out of court within a few weeks of filing. It is sad that lenders practise this, but without competent lawyers against them they can.