Monday, 19 June 2017 15:59

Our Credibility Being Questioned - Really?

After a little spat with the well known BBC reporter Paul Lewis, we decided to tune in on Saturday to one of his broadcasts.  They invited a Mike O’Connor on from Step Change. We hate to say we told you so, but we did – 3 years ago.


When we announced that we were returning to lending due to price caps being relaxed. Paul basically threw his weight behind another Twitter user’s opinion that the FCA said to him that we were lying. That's Paul Lewis who works for the bastion of Fake News that is the BBC. When challenged by us, he went all silent on it. This article is about us showing you – our readers – that we are more than credible and show you evidence of what we have said before has come true.

Our credibility

We have a great reputation for speaking our minds. We’ve been at it for years, completely fearless because only a small percentage of our income actually comes from finance sites. It allows us the freedom to challenge regulators, politicians and crazy socialists Think Tanks who are fleecing the poor whilst pretending to be trying to help them. Unfortunately, most other lending sites have fantastically expensive lawyers who prevent them from speaking out. We don’t have any of those people here, those who would tell us when it would be smart to shut up. Quick Loans is still out here alone telling it as it is.

Just to mention though, we’ve never had a single complaint lodged at the Ombudsman Service in over 5-6 years of operating under this license or our previous one. That’s despite being involved in arranging well over £50m of finance in that time.

More importantly, we also predict things well in advance of them becoming public knowledge. We can do this because we are very well placed in the industry. We know how customers operate; we know how our industry and competitors work.

Imagine our surprise therefore when a representative Mike O’Connor from the Charity Step Change takes to Paul’s show on Saturday the 17th and reveals certain things are happening in the industry. Then basically started to confirm things we told our readers was happening 3 years ago, and what we predicted was going to happen in the future.

Told You So

July 2014 – As the BBC and the Bank of England’s Mark Carney were rambling on about interest rates rising; Over on our sister site we laughed and explained why they would be kept low. Again we were spot on.

November in 2014 - We told you about the rise in Instalment Loans, which are more expensive in cash terms than PD loans. They have smaller headline APR’s – so Politicians are happy but in non-gimmick real cash terms they are far worse. We told you PD lenders all have instalment brands to take care of the more expensive loans.

June 2015 – We told you about the rise in Guarantor Loans due to the demise of PD loans. Again we have been totally vindicated. Indeed in that article, we went further and questioned if they were even legal at all. Guarantor loans are very dangerous, they ruin families much more than other types of loans because they are very expensive and they involve other members of the family by linking them into debt.

January 2017 – We told you car finance was a bubble that was just waiting to burst. We already knew the PCP (Personal Contract Purchase) is a time bomb waiting to go off. In fact so much so, that in June we registered and .com over a year ago. It’s the next big thing in the claim’s industry. We knew about it a whole year before it was broadcast on the breaking news site that is Money Box.

We have lots of predictions on this site, these are just some of those that have clearly come true.

More predictions

1) We have of course said that the PD cap is going to rise next year, we stick to that 100%.

2) There is one big mega scandal about to rock the Guarantor Loan Market. What we know could make every loan taken out through the top two Guarantor Lenders websites over the last 3 years void.

I’d certainly be selling up if I was one of these lenders right now. The FCA doesn’t know about it, the Guarantor Lender’s themselves don’t even know about it. Paul MoneyBox Lewis certainly doesn’t know about it – we do. The hand backs to borrowers will probably be well over £100m. One of the lenders does over £500k a day in loans apparently.  

It’s strange because if anyone was paying attention to basic details, rather than trying to come up with gimmick regulations then they would have noticed what we did.

In general, the FCA are investigating HCSTC loans and will pursue that. They will get the headlines HCSTC lenders hand money back, HCSTC lenders will not be that bothered because they will recover it with tax write off’s. So it will ultimately be the Tax Payer that ends up paying back money to cover this scandal.


We are happy with our predictions and how accurate they have been. Some may not like what we have been saying, they hate the fact that we are often right.

Oh yes, we are wrong sometimes. Never in our wildest dreams did we think the traitor Corbyn would get more than a couple of idiots vote for him. That being said, Theresa May grew more incompetent than even we predicted and we didn’t have much hope for her to start with.

There you go Paul, now show us what you have predicted.

1 comment

  • Comment Link Martin Martin

    I see the Dollar Group has since closed and ceased all their lending. You guys were right after all, the FCA didn't listen and more lenders have gone. How many must more lenders go before the FCA get the message that they are sending borrowers into the hands of illegal money lenders?

    The days of competition are over, it's do as I say not do as I do. This country is going down hill fast, shops closing, car sales sinking. Anything this Government touches soon tends to shut down. 

Leave a comment