YES Loans - Please help

Daisy4567
Daisy4567 Posts: 218 Forumite
Hi everyone,

Yesterday I contacted Yes Loans, wish I'd read the forums here first but I didn't.

They haven't been able to take the £69.50 yet as I didn't have the funds in my account, but are re-applying on Monday 12th July.

How can I stop them? Like hundreds of others I've now read about I can't get through to the "relevant department", or they can't access my account to cancel, or I'm on hold for half an hour and more and still no result.

Please help

Thank You
When looking at the climb in front of you, don't forget to look back once in a while and see how far you have come:j
and remember...
All the worrying in the world won't change anything...so breathe:beer:
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Comments

  • david39
    david39 Posts: 1,968 Forumite
    Speak to your bank and ask them to not pay Yes. If there is some reason why they cannot agee to that, empty your account before July 12th.

    Yes Loans have a bad reputation on this board (and others) and there are another, less obvious, couple of reasons why they should be avoided.

    My wife applied to them for a small loan. They said that it was too small for them to handle but gave her a telephone number to call, saying it was a company that handled loans of the size required. When I looked at the number, it was a premium rate number - I wouldn't deal with a company that charged me for just making an enquiry!

    Secondly (after not ringing that number) I have been plagued for years by telephone calls from "financial experts" who want to advise me how to become insolvent, take out IVAs, get out of all my debts by government approved schemes etc.

    Clearly, our phone number had been "sold on" and undoubtedly it was Yes Loans that had done it because the calls started almost immediatey after we contacted them - and, other than our bank, they were the only financial-industry firm we contacted.
  • Daisy4567
    Daisy4567 Posts: 218 Forumite
    Hi,

    Thanks for your advice. I've spoken to my bank but they say they cannot stop it as it is a card payment and they say I've already authorised it.

    I know this seems the case but YES loans misled me to believe that they were the lender when infact they're not. I feel like such a fool to have let mself be misled like this.

    I've logged a complaint with the Banking Ombudsman but they say until they've actually taken the money out there is nothing they can do and advised to keep calling.

    It's costing me a fortune and I'm on the verge of tears with it.
    When looking at the climb in front of you, don't forget to look back once in a while and see how far you have come:j
    and remember...
    All the worrying in the world won't change anything...so breathe:beer:
  • iolanthe07
    iolanthe07 Posts: 5,493 Forumite
    You may well have to pretend to the bank that your card has been lost or stolen. This will freeze any transactions on it until they issue you with a new one.
    I used to think that good grammar is important, but now I know that good wine is importanter.
  • Fatenbread
    Fatenbread Posts: 88 Forumite
    Empty your bank account - if the funds are not there then the bank will not authorise the payment. You should e able to get a savings account set up instantly.

    Additionally, you should go to your bank branch and speak to the manager / customer service advisor (rather than a call centre drone). Tell them that the authorisation was obtained fraudulently and that it MUST be cancelled or you will take your account elsewhere.

    If Yes come back for the money, tell them they have misled you, that you are cancelling your application and contract and then hang up. Do not take any further calls from them.
  • BLT_2
    BLT_2 Posts: 1,307 Forumite
    Fatenbread wrote: »
    Empty your bank account - if the funds are not there then the bank will not authorise the payment. You should e able to get a savings account set up instantly.

    Additionally, you should go to your bank branch and speak to the manager / customer service advisor (rather than a call centre drone). Tell them that the authorisation was obtained fraudulently and that it MUST be cancelled or you will take your account elsewhere.

    If Yes come back for the money, tell them they have misled you, that you are cancelling your application and contract and then hang up. Do not take any further calls from them.

    Am I missing something here. OP authorises a charge to her card, then on a board members advice empties the bank account to ensure that the payment can't be met and so is rejected by the bank.

    Surely this will result in bank charges the OP can't afford?
  • megansmith
    megansmith Posts: 9 Forumite
    i agree with david39. yes loans have a bad reputation and there are so many other reasons to avoid yes loans. If are looking for a quick loan then pay day loan is the best for you. but to get a loan from pay day, you must have your parmanemt resources of money.
  • Evilm
    Evilm Posts: 1,950 Forumite
    megansmith wrote: »
    i agree with david39. yes loans have a bad reputation and there are so many other reasons to avoid yes loans. If are looking for a quick loan then pay day loan is the best for you. but to get a loan from pay day, you must have your parmanemt resources of money.

    Friends and family would be better than a payday loan in my personal opinion.

    Credit card spending would be better (if you can get one).
  • trinity77
    trinity77 Posts: 16 Forumite
    IM A FOOL!

    We all muck up at some point...i to have been recently (last week) taken in by yes loans. My problem at the moment isnt with them so muc but its with another company that they handed me over to. After they called me they put me through to a company called "we fight any claim"
    They told me they were to do with my loan application but in fact it was to do with PPI, i really stupidly gave them my card details so they cold take a £250 payment at a later date. I thought "oh it wont matter i can cancel with in 14 days if i dont like the look of the paper work". Needless to say...got the paperwork and decided to cancel. Only problem is i cant! The number they supplied is rubbish no one ever answers. I then found another number but as soon as i tell the person i want to cancel they hang up on me!
    I was in tears of frustation yesterday! It was awful.

    The bank was extremely unhelpful and said i couldnt cancel the card transation even tho it hadnt gone thro yet. They said they have to honor the other company and pay it. I dont have the money in my bank so at some point today im going to go £250 over drawn and end up with charges.

    Yes loans have clearly passed mt details on to some very dodgy companys becuase ive been harrassed non stop by people telling me that ive been accepted for a 2000 pound credit card and all i have to do is ring a 0906 number to get it....only you guessed it! they are busy and i have to ring back....£££££ yeah right!

    Im offically a mug! Lesson well learnt :( x
  • CHR15
    CHR15 Posts: 5,193
    First Post First Anniversary Combo Breaker
    Forumite
    trinity77 wrote: »
    ive been harrassed non stop by people telling me that ive been accepted for a 2000 pound credit card and all i have to do is ring a 0906 number to get it....only you guessed it! they are busy and i have to ring back....£££££ yeah right!

    After making so many mistakes earlier on in your post, for pitties sake WHY are you trying to ring these cold callers back??

    They do not have an answer to your problems, they have been told how easy it is to get money from you so they are all jumping on the bandwagon!!!
  • ILW
    ILW Posts: 18,333 Forumite
    trinity77 wrote: »
    IM A FOOL!

    We all muck up at some point...i to have been recently (last week) taken in by yes loans. My problem at the moment isnt with them so muc but its with another company that they handed me over to. After they called me they put me through to a company called "we fight any claim"
    They told me they were to do with my loan application but in fact it was to do with PPI, i really stupidly gave them my card details so they cold take a £250 payment at a later date. I thought "oh it wont matter i can cancel with in 14 days if i dont like the look of the paper work". Needless to say...got the paperwork and decided to cancel. Only problem is i cant! The number they supplied is rubbish no one ever answers. I then found another number but as soon as i tell the person i want to cancel they hang up on me!
    I was in tears of frustation yesterday! It was awful.

    The bank was extremely unhelpful and said i couldnt cancel the card transation even tho it hadnt gone thro yet. They said they have to honor the other company and pay it. I dont have the money in my bank so at some point today im going to go £250 over drawn and end up with charges.

    Yes loans have clearly passed mt details on to some very dodgy companys becuase ive been harrassed non stop by people telling me that ive been accepted for a 2000 pound credit card and all i have to do is ring a 0906 number to get it....only you guessed it! they are busy and i have to ring back....£££££ yeah right!

    Im offically a mug! Lesson well learnt :( x

    Please stop giving your credit card details to anyone that asks.
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