Reclaiming admin fees from loan companies

juicylucy6

I paid a £70 administration fee for my partner, when he was applying for a loan, with YES LOANS.

The polite, young man who processed our application for us over the phone positively assured us that we could easily reclaim this money if we changed our minds/was unsuccessful with the loan.

We then decided we did not want the loan so under the terms and conditions we had to APPLY IN WRITING WITHIN 14 DAYS OF APPLYING FOR THE LOAN to reclaim our money back.

We did this and sent out several letters - in hindsight maybe we should have got RECORDED DELIVERY on them. That might have helped, who knows?

Additionally we made countless phone calls to them.

At my wits end I contacted THE FINANCIAL OMBUDSMAN explained to them my dilemma and they wrote to Yes Loans on my behalf.

Needless to say I had a LETTER OF APOLOGY and a CHEQUE FOR £70 (FULL REFUND) landed on my door mat WITHIN 14 DAYS of contacting the Financial Ombudsman, as any company who they write to are OBLIGED TO REPLY WITHIN THAT TIME.





Hope this can help some people as I wish I'd have done this from the start - would have saved me a lot of worry, time and mither.

zppp

lucykelman wrote: »

I paid a £70 administration fee for my partner, when he was applying for a loan, with YES LOANS.

The polite, young man who processed our application for us over the phone positively assured us that we could easily reclaim this money if we changed our minds/was unsuccessful with the loan.

We then decided we did not want the loan so under the terms and conditions we had to APPLY IN WRITING WITHIN 14 DAYS OF APPLYING FOR THE LOAN to reclaim our money back.

We did this and sent out several letters - in hindsight maybe we should have got RECORDED DELIVERY on them. That might have helped, who knows?

Additionally we made countless phone calls to them.

At my wits end I contacted THE FINANCIAL OMBUDSMAN explained to them my dilemma and they wrote to Yes Loans on my behalf.

Needless to say I had a LETTER OF APOLOGY and a CHEQUE FOR £70 (FULL REFUND) landed on my door mat WITHIN 14 DAYS of contacting the Financial Ombudsman, as any company who they write to are OBLIGED TO REPLY WITHIN THAT TIME.





Hope this can help some people as I wish I'd have done this from the start - would have saved me a lot of worry, time and mither.

What's with the red capitals?