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  • FIRST POST
    Daisy4567
    YES Loans - Please help
    • #1
    • 7th Jul 10, 7:39 AM
    YES Loans - Please help 7th Jul 10 at 7:39 AM
    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
Page 1
  • david39
    • #2
    • 7th Jul 10, 9:00 AM
    • #2
    • 7th Jul 10, 9:00 AM
    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
    • #3
    • 7th Jul 10, 9:22 AM
    • #3
    • 7th Jul 10, 9:22 AM
    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.
  • iolanthe07
    • #4
    • 7th Jul 10, 10:35 AM
    • #4
    • 7th Jul 10, 10:35 AM
    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.
    "Debt is the slavery of the free" (Publilius Syrus, First Century BC)
  • Fatenbread
    • #5
    • 8th Jul 10, 12:17 AM
    • #5
    • 8th Jul 10, 12:17 AM
    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
    • #6
    • 8th Jul 10, 7:00 AM
    • #6
    • 8th Jul 10, 7:00 AM
    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.
    Originally posted by Fatenbread
    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
    • #7
    • 8th Jul 10, 7:54 AM
    • #7
    • 8th Jul 10, 7:54 AM
    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
    • #8
    • 8th Jul 10, 11:18 AM
    • #8
    • 8th Jul 10, 11:18 AM
    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.
    Originally posted by megansmith
    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
    • #9
    • 8th Jul 10, 12:03 PM
    • #9
    • 8th Jul 10, 12:03 PM
    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
    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!
    Originally posted by trinity77
    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
    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
    Originally posted by trinity77
    Please stop giving your credit card details to anyone that asks.
  • iolanthe07
    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
    Originally posted by trinity77
    Just tell the bank that you have lost your card. Sorted.
    "Debt is the slavery of the free" (Publilius Syrus, First Century BC)
  • trinity77
    Ive not given out any details since the whole we fight any claim incident. I asked the bank to cancel my card and log it as stolen but they said it wouldn't make any difference they have to honour the person ive paid using it.

    Fortunatly so far no money has been taken! phew...
  • david39
    Trinity77: If you get any more calls from people or firms that are clearly as a result of your contact with Yes Loans hang up on the immediately without talking to them.
    Amongst the firms that will be calling will be people trying to scam you in various ways, not all of the scams will eventually be over the telephone. They will be trying to get as much information from you as they can, especially your home address, d.o.b. NI No. etc for identity fraud.

    They will keep phoning you and winding you up so that in a temper, some of this information will come out - one prime way is for you to shout down the phone - "I'm fed up with these calls, put me through to you supervisor..." - "Supervisor here" (actually man on the next desk) - "Ah, yes,I'll get your name removed from our list - can I confirm your address, please so that I know we have the right person?!!!"

    As long as you go on speaking to them, they will continue to call you - the answer is, do not talk to them and eventually (long time, though) they will stop.
  • ljcraigboy
    Can the card provider help under section 75 of consumer protection and get a charge back
  • trouser
    Hello there, Im in the same boat. I can tell you you will get your money back minus 5 Unfortunately the bank cant stop the transaction. However here is the bit of bad news.

    Do not call them its 10p a minute you wont get through and they will only tell you to apply by post. You will have to do this in 14 days however that is 14 days of you receiving any correspondance.

    Send them a recorded delivery letter stating you are within the 14 days and they have 30 days (and tell them a specific day) to get your cash back minus the 5 broker fee.

    Another bit of bad news, they will no doubt not send your cash back within the 30 days limit what appears to be happening is they claim dumb and "investigate the case" which will take up to another 8 weeks.

    So... after the 30 days is up you will have to contact the financial ombudsman, youcan do it by phone remember to keep your reference and they will lodge the complaint for you.

    And then it is a waiting matter, remember to keep your postal receipt for the recorded delivery

    Yes will bombard you with calls from sister companies do not get cross on the phone and ask for the callers name then say " thank you I have your name please dont call again, remove me from your call ist and any more calls will be logged and forwarded to the financial ombudsman and trading standards as harrasment" Do not continue the call just hang up.... write this down and just read it verbatim recording the callers name.

    If you would like any help please get in touch with me. Im trying to group together people for a bulk complaint to trading standards and I can send you a copy of the type of letter to send and give phone numbers etc for the ombudsman.

    To recap .... yes you will get your money back minus 5 but it might take 12 weeks from start to finish and do not call them do all correspondance by registered signed for mail
  • dragon27
    I was an idiot yesterday and I gave yesloans my debit card details but said that I couldn't pay until the 19th

    I've then reported my debit card lost/stolen and are being issued with another one

    Will this stop them taking the money?

    Thanks a lot

    I'm at my wits end
  • Beankyu
    Thanks a lot for ur sharing.
    I have the same problems, well ...
  • Daisy4567
    Ive not given out any details since the whole we fight any claim incident. I asked the bank to cancel my card and log it as stolen but they said it wouldn't make any difference they have to honour the person ive paid using it.

    Fortunatly so far no money has been taken! phew...
    Originally posted by trinity77
    Hi,

    What bank are you with? I'm with HSBC and when YES Loans originally tried to take the money the payment was declined due to insifficient funds - so obviously the bank didn't honour it and I'd have thought this would be the case with other banks too? Sounds a bit iffy for a bank to let 250.00 go through on a card payment when there's not enough money to cover it.

    I know they can let D/D's and S/O's go through?

    Thanks everyone for all your advice - I do seem to have sorted it - I think!

    It took a whole lot of perseverance and some stern talking but so far they haven't tried to take the money. Also I did take all the money out of my account as advised, but on calling the HSBC they've assured me they didn't try to take on the 12th.

    I also contacted the Banking Ombudsman and told them what had happened and that I just could not get through to anyone to cancel (you know what the so called "Customer Careline" is like) - so they logged my complaint and gave me a ref number ready to action if the worst happened.

    Very long story short, if you go on their website and ask for a call back (there's a ring me option) they ring you - it's their bill not yours. I waited 57 minutes to get through to the Careline!!!! To speak to a jumped up little upstart who said I had to write in (which I'd already done and send recorded delivery) - I insisted he made notes on my file to say I had written and was cancelling so there was at least a footprint there that I was doing that.

    I copied the letter to both their head office:

    YES Loans
    Cradoc House
    Heol-Y-Llyfrau
    Aberkenfig
    Bridgend
    CF32 9PL


    and:

    Yes Loans Ltd,
    Tintern House,
    William Brown Close,
    Llantarnam,
    Cwmbran,
    NP44 3AB


    and emailed to The Banking Ombudsman (I wonder if me putting this as the CC on the bottom of my letter helped too)

    Incidently, HSBC told me stopping my card would prevent them taking the funds.

    Hope this info is useful to other people stung by this dreadful company.
  • megrach1966
    Hi, I've been stung by them as well. Why oh why didn't I check them out first, I would've saved myself alot of time and stress. I've paid the 69.99 by debit card last week and despite trying to get through to the so called Customer Care line have had no joy up to now. Even when the recorded message says "there at least 20 people in queue and to call back", when you hang up the phone - they're still there on the line. I had to unplug my phone from the main socket to disconnect the call. I've written a letter today requesting a refund so I'll keep my fingers crossed. I can't quite understand why the Financial Services Ombudsman are letting them continue to operate as looking at the Forum this has been going on for years.
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