Cancelled a loan and trying not to be charged the admin fee

Missmeeady

Can anyone help, I applied for a loan through Yes loans they are charging me £69.99 admin fee, this is to be taken out of my account in 2 days time. I have decided not to go ahead with the loan and so I do not want to be paying the fee so I contacted them by phone yesterday and I was laughed at, the man was extremely rude and he hung up. I phoned them again this morning and was told that I have to write in, by the time the letter gets there they would have taken the money out. So im not sure what to do, they are just trying to fob me off!

immoral_angeluk

What details did you give them? Debit card? Generally the admin fee is non refundable, and a quick way of making them a hell of a lot of money for very little.

CHR15

You will undoubtedly have the money removed from your account.

A quick 5 minute search on here before commiting to this scam would have informed you it was a non starter.

Research everything BEFORE agreeing to anything.

Try another search for the hurdles will have to jump over to get your money back. It will take a while, do it all in writing (no emails or phonecalls).
They will likely retain £5 and give you the remainder back.