1 /5 John B: I had applied through a loan company and the application was declined. They then sent a link to try the application through their "partner network". In this link it had a question about what state my credit history was in and I selected Low. I finished the rest of the questions and was advised that QEF were keen to review my application.
I then contacted QEF to advise that I was referred to them from another company. The consultant on the phone took all my details and asked questions. One of the questions was if I was aware of any defaults on my credit file. I was open and honest and advised that yes I do have defaults. The consultant took some more details and said she would send my application off to be reviewed. I asked her if the defaults would impact my application and she said they wouldnt know until they assessed my application.
Next I received an email asking me to complete an application, although I was under the impression I had already done that over the phone, and supply ID, bank statements etc. I completed the online application and one of the questions in the online application was "are you aware of any defaults on your credit file". Again, I was open and honest and selected yes. All the requested documenation was sent through.
Another email was received asking a few more questions about my liabilities and I was also requested to obtain a statement of service letter from my employer. I provided the additional information and informed them that I had contact my HR department to obtain the letter however it could take a week so I also sent my letter of employment offer. I was told that it was fine if I didnt have the letter as it wont hold up my application.
The next morning I received a text message advising that my application had been declined BUT they included the exact same link that I received from the prior loan company to apply through their "partner network. I phoned QEF to ask why I was declined and they straight up said "its because you have defaults"!!
I was completely open and honest throughout my application and provided information THREE times that I have defaults on my file however they still proceeded to request that I provide all my personal documents AND I also had to disclose to my work that I was applying for a loan. I do not know why I wasnt advised either during my phone call or after I had submitted the online application that I wouldnt get a loan if I had defaults. I spoke to a supervisor who tried to tell me that they do approve people with defaults, but it depends on what those defaults are and how recent. Again, had QEF taken the time to ask me those questions at the beginning I would have provided the information about my defaults and we could have saved everyones time.
I also dont understand why they would send me the exact same link that the previous loan company had sent me to try through their "partner network". I assume that they have an agreement and are paid a fee for any referrals, even though they likely know you have no chance of being approved with the other organisation.
In addition to all of the above, on their website under the who qualifies to apply, there is no mention of not being eligible if you have defaults, only if you are currently bankrupt or in administration.
Very poor experience, very misleading and I would not recommend anyone to apply with this organisation.
