Avoid yes loans scam scam scam !!!

andy.m_2

write a letter, recorded delivery.
Forget email and telephone.

[Deleted User]

Liverpool72 wrote: »

....so searched on Internet for Guaranteed acceptance Loans. Never in a million years did I think there would would fraudsters out there who would just take your money and do nothing to help.

This is maybe at the heart of the matter. There was a time, long long ago, when the internet hadn't been invented. (I'm not making this up, I was there.)

In those days, if someone wandered up to you and said "Give me £70 and I'll go off and get you some money" we'd have sent the charlatan on his way, with a merry whack on the backside with our canes. And possibly even informed the local constabulary.

But if you didn't live through those dark times, there seems to be a tendency to take anyone who can put a page together on the internet at face value. They're the same charlatans folks. The internet is just a busy street, and there's a lot of dark alleyways you don't want to be wandering down.

So it may be too late for a lot of people on this thread, but next time, exercise the same caution as you would in the real world. If you've never heard of 'Insta-Loans 4 U', there's a good reason.

History lesson over. Off to your next class. And no running in the corridors.

Apples2

Not sure why I bother, nobody ever follows the very instructions to get a refund.

WRITE means type it, print it, stick it in an evelope and post it (recorded).

WRITE does NOT mean phone them or email them.

5.Fees We charge a fee for providing the service of acting as a finance broker. We specify the fee as part of our communications with You. If You do not enter into a loan offered by a lender or financier within the 6 months We act for You, We will refund the fee less the £5 brokerage fee provided for by the Consumer Credit Act 1974. Refunds must be requested in writing to avoid repayments being sent to a wrong address. To facilitate Us processing payments and repayments You authorise Us to retain your charge, credit and debit card details.
6. Cancellation
Under the Financial Services (Distance Marketing) Regulations 2004 you have a right to cancel your application within 14 days of receiving these terms and conditions and receive a refund. If You wish to cancel your application, You must write to us. In this event We will refund your fee within 30 days of the date on which We receive your written request to cancel your application. Any such requests should be made to: My Loan, Cottage Street Mill, Cottage Street, Macclesfield, Cheshire, SK11 8DZ.

https://www.myloan.co.uk/terms.php

Liverpool72

Many thanks guys for the replies this far -

but i only applied for this application on sunday 27 november 2011. Is it too soon to apply to cancel my application and write to them now requesting a refund????

Or do i have to wait the 6 months as stated in your post??

Apples2

Get your cancellation letter in the post first thing tomorrow.

Remember to send it by by traceable means..

If you cancel within 14 days you get it all back. They can only keep 5 pounds if you cancel after 14 days.

Liverpool72

Hi there

Thanks for your prompt reply

Have typed (and I mean TYPED the letter) off the post office this morning at 9am when it opens to send it recorded delivery.

Part of the letter states that under the Terms & Conditions:-

6.Cancellation

Under the Financial Services (Distance Marketing) Regulations 2004 you have the right to cancel your application within 14 days of receiving these terms and conditions and receive a refund. If you wish to cancel your application, you must write to us. In this event we will refund your fee within 30 days of the date on which we receive your written request to cancel your application. Any such requests should be made to My Loan, Cottage Street Mill, Cottage Street, Macclesfield, Cheshire, SK11 8DZ.

Being that I applied on Sunday 27 November 2011, and today is Wednesday 30 November 2011, I am presuming that I should stand a pretty good chance of getting my money back???

Am I right??? or not??

And am I presuming that all these people that don't get there money back, is that because they do not do it within the 14 days???

Any feedback would be grateful !!!!!

Cheers

fozmcfc

You are easily in the money back period. But, it doesn't neccessarily mean you will get your money back easily.

Many people who apply for refunds from these companies, don't get them after the first letter.

Many report they needed to threaten action with the regulators or even go to the regulators to force the company to give a refund.

You have obviously done the right thing by writing recorded delivery and hopefully that will be enough to convince them that you will have proof of asking for a refund should they think about being awkward. People who call in particularl are usually ignored as there is no proof and it ends up costing them even more money for several phone calls.

How companies such as these get to keep many peoples money is

A/ They don't ask for a refund or

B/ They do, but after being ignored, they decide it's not worth the hassle and forget about it.

They probably have 28 working days to refund you, if you haven't heard anything by January, then you need to follow it up futher.

Let us know here how you get on.

Apples2

Liverpool72 wrote: »

Am I right??? or not??

fozmcfc is correct above. You are within the required period, but you already know how honest this company is.

Keep a record of your request. IIRC they said 30 days from receipt of the request.
they normally stall and waffle, "it's being dealt with, the cheques in the post, we haven't received it" etc. etc.

You are in for a month of not knowing and excuses.

Just stick with it, get ready with a formal complaint letter too. this time with a statement that you will be taking it up with the regulatory bodies if you don't get a FULL refund.

you are then in for another 8 weeks of not knowing and excuses but remain calm, you will most likely have your refund before the 8 weeks are up.

I'm sure they will retain £5 even if they do refund, many people will just grab it and forsake the £5 but stick with it for the full amount. You are entitled to it all back.

lozak

ripped off 69.99, can anyone help tried everything!!

Apples2

lozak wrote: »

ripped off 69.99, can anyone help tried everything!!

Well if you have tried everything, there is nothing more you can do, your money is gone.

Maybe you didn't try everything, explain what you have done so far....