yes loans the scam

hedgygirl

I just made the mistake of applying for a loan for £69 admin fee. I asked if i don't get approved for the loan they told me I would definitely get a loan or refund if not. I am now really worried because I typed in Yes loans and saw scam come up straight away! I just rang my bank and they can't stop the payment, but can go to dispute and get it back from them. I don't if the bank can do that or not. What should I do, i am really worried now.:(

Couger

Keith Chorlton is Director despite being banned from being a director his mobile number is 07836 777777

I fell into same trap rang Keith Chorlton requesting refund and he passed me to admin who voided transaction, if i dont get a refund ive already called CC company who will chase money for me.

sonnyboi

Hi all,

this is the first time I have posted on MoneySaving Expert so I'm hoping you guys can help.

I have recently applied for a loan with YesLoansLtd but was told to pay £69 for the use of their rubbish service. I do not have this money until 25th June 2010 and it was agreed that IF I was found a loan, they would make the charge. Unfortunately they did not find me a loan but I have been told they are still charging me on the 25th of this month..... I have written a letter, phoned multiple times, kept calm and tried to keep my cool.

Do YesLoans have any authority to charge me this amount even though they did not deliver the agreed service?

Any help would be really appreciated. I don't care how much time and money it takes.. I will have YesLoans account for their failure.

Many thanks people

sonnyboi

hedgygirl wrote: »

I just made the mistake of applying for a loan for £69 admin fee. I asked if i don't get approved for the loan they told me I would definitely get a loan or refund if not. I am now really worried because I typed in Yes loans and saw scam come up straight away! I just rang my bank and they can't stop the payment, but can go to dispute and get it back from them. I don't if the bank can do that or not. What should I do, i am really worried now.:(

Hi Hedgygirl,

have they already taken the payment?

Sonny

MikeR71

I had the same problem with these thieves and complaind to the financial ombudsman service and they got my money back and a letter of apology.

david39

It is worth reading this thread :

https://forums.moneysavingexpert.com/discussion/2585709

especially posting #4 from Apples2, which has interesting information on the Terms & Conditions set out by Yes Loans.

MikeR71

Terms and conditions are one thing but what YesLoans do has nothing to do with that. In our case they promised that they wouldn't be taking any money untill we sent back the forms, signed, thus giving the m permission. The very next day they took £69. We didn't even have a chance to read their T&C.

Oh, if they are found in the wrong they should also credit the £5. We got ours.

jadeyfamous

Yes Loans, more like No Loans.
I wish i had looked into this company before processing an application with them.First of all, THEY contacted me, i did not contact them. I believe they got my details from a loan comparison site in which at the time i was looking for a loan to buy a car. When i got the call they said they could give me a quote, so i thought why not. They did a very lengthy application over the phone and said i would be accepted for the loan amount i wanted, which i thought was great seen as because ive never had to apply for credit before i was finding it difficult to be accepted for a loan, so i proceeded to ask them what the APR rate would be, the man told me that he couldn't tell me this at this time...?! so i said i would no way be interested if they couldn't tell me the APR rate, then he said he would put me through to someone who could sort this for me, so he did. Again i got told that the only way i could find out what the APR would me is if i handed over a 'admin fee' of £69.50 and that they could 'release the papers' for me to sign. Just LOL. what a load of crap, so i said do not call me again im not interested.
A few days later these 'papers' turned up, said that i needed to sign them and send a cheque for this 'admin fee' so they would find me a loan. At this point you've probs guessed that Yes Loans are a broker, they do not advertise that they are a broker though.
I ignored these 'papers' and then about a week later i noticed that exactly £69.50 had been debited from my account. I called Yes Loans to see if it was them, where i was put through to a extremely rude man who sounded like he was a chav that couldn't talk correctly and had no manners what so ever, his answer to everything i asked and said was 'i dunno'. I did not consent to anything to be processed or any money to be taken what so ever.
as their terms and conditions state, if you want to cancel a application you have to give them written notice within 14 days, so i did so. 3 weeks after i sent my recorded notice i still had not heard anything, so i sent another recorded letter, after 2 weeks i had STILL no heard anything. my 3rd and final letter i sent i told them that i would now be taking this up legally. after 4 weeks i had STILL not had any contact from them! 3 days later i had a cheque arrive in the post from them. I'm going to be cashing it into my account tomorrow so we shall see if it clears.
PLEASE do not bother with this company, not even if your desperate for a loan! The people on the other end are hopeless and its shocking how they talk to you, shout at you and even had them swear at me. I cant believe that they still actually have a broker license after all this evidence that they are just scamming people. Someone needs to shut this company down.



Also yes loans themselves dont look for a loan for you, they just give out your information to companies to contact you directly with, for weeks i had 'car finnance' companies calling me none stop every day, harassing me over and over calling back every day after i told them to disguard my information. each time i asked where they had had my information from and every single one said 'from yes loans'...

jadeyfamous

ihateyesloans wrote: »

Hi there, i applied for a loan with yes loans and was told i had been accepted! i was told what my repayment would be and was also told that the money would be in my account within 7 to 10 working days! but i had to pay a £59.50 admin fee! so i ask if i had definatly been accepted for the loan and was assured i had been succesful and by paying the admin fee they would send out the paperwork for me to check sign and return and the money would be mine in a matter of a week! Great!

but then i found out about all the complaints and called yes loans to make sure i had been accepted for the loan! it was then that i was told i had only been accepted as a client of yes loans and that now they would attempt to find a lender! so i never signed the paper work and call ed them back to cancel my application and ask for a full refund ! i was told i had to ask for my refund via email which i did 3 times now but as of yet have still had no refund or reply!

help what can i do to get my money back?

just keep sending recorded letters to them, i sent 4 in total and the laste one i threatened them with small courts legal action and magically a cheque turned up, minus £5 mind you.. *rolls eyes*

tattijane

My son has just been charged £69.50 too. For a loan he didn't take out and for which he has no correspondance for. They didn't tell him about a fee until the end of the telephone call