YES Loans - Please help

Hannah_10

I had a serious wake up call when I nearly got done for the £70 with Yes Loans. I really thought I had been approved for a loan and I was told the repayments and the Apr and everything, I was writing them intently on my bit of paper, it was going well from my point of view. Then they asked for my bank details to pay it into and my card details to take the repayments- so far nothing too suspect. Then they said they needed £69-something to complete the paperwork and a penny dropped somewhere that this wasn't normal. So I said that didn't sound like usual practice to me and went quiet. I was treated to a well-rehearsed strop on the part of the caller.

I stayed quiet and just let him reel out every line from how perfectly normal it was, how unless I paid out right now I wasn't getting my loan and he'd just cancel it, how he couldn't see what my problem was and all the old faithfuls. I rather coyly said "couldn't you just send me out the paperwork like a proposal and if when I read the Terms and conditions it's all Ok then I'll ring you and pay?" Well sounding a bit vulnerable is a red cloth to a bull... Off the tirade went stratospheric at that point.

I hung up and had a good laugh at him, but not before I had picked the phone back up again and made the fastest-dialled call to a bank you have ever seen.

I was told that Yes Loans were not an uncommon cause for concearn at the banks call centre and if I did not authorise a payment then no payment would go out, however as a precaution I moved my money to my other account and cancelled my card.

I was lucky. I was pretty desperate that day to be honest and I can easily see how people fall it.

I got away with it because the girl at the bank asked the right question at the outset- did you authorise that payment. To which the answer was I absolutely did not. At that point if they had taken anything from my account it would have been the same as theft and therefore the girl at the banks role was then theft-prevention. Preventing theft/fraud is pretty clear cut, but intervening in a dispute is messier and trickier.

So for anyone worried they may have been stung by Yes Loans the question is- did you authorise that payment? If you did not then get onto your bank right away and be sure that you are crystal clear in saying you did not authorise it, it makes the bank's role nice and simple.

referee20010

Hannah_10 wrote: »

I had a serious wake up call when I nearly got done for the £70 with Yes Loans. I really thought I had been approved for a loan and I was told the repayments and the Apr and everything, I was writing them intently on my bit of paper, it was going well from my point of view. Then they asked for my bank details to pay it into and my card details to take the repayments- so far nothing too suspect. Then they said they needed £69-something to complete the paperwork and a penny dropped somewhere that this wasn't normal. So I said that didn't sound like usual practice to me and went quiet. I was treated to a well-rehearsed strop on the part of the caller.

I stayed quiet and just let him reel out every line from how perfectly normal it was, how unless I paid out right now I wasn't getting my loan and he'd just cancel it, how he couldn't see what my problem was and all the old faithfuls. I rather coyly said "couldn't you just send me out the paperwork like a proposal and if when I read the Terms and conditions it's all Ok then I'll ring you and pay?" Well sounding a bit vulnerable is a red cloth to a bull... Off the tirade went stratospheric at that point.

I hung up and had a good laugh at him, but not before I had picked the phone back up again and made the fastest-dialled call to a bank you have ever seen.

I was told that Yes Loans were not an uncommon cause for concearn at the banks call centre and if I did not authorise a payment then no payment would go out, however as a precaution I moved my money to my other account and cancelled my card.

I was lucky. I was pretty desperate that day to be honest and I can easily see how people fall it.

I got away with it because the girl at the bank asked the right question at the outset- did you authorise that payment. To which the answer was I absolutely did not. At that point if they had taken anything from my account it would have been the same as theft and therefore the girl at the banks role was then theft-prevention. Preventing theft/fraud is pretty clear cut, but intervening in a dispute is messier and trickier.

So for anyone worried they may have been stung by Yes Loans the question is- did you authorise that payment? If you did not then get onto your bank right away and be sure that you are crystal clear in saying you did not authorise it, it makes the bank's role nice and simple.

---

I rang my bank (bank of scotland) and reported that £69.50 had been taken from my account without me authorising it..after a few question from the bank, they stated that because I had given my details to (Victor) from YES LOANS (due me for using your name if you want)..just as security check to verify who i said i was. I there fore willingly gave my card details.
I explained the had informed me they are just for security checking and will not be kept and destroyed, even so said the Bank of Scotland woman, I would have to wait 30 days then ring back and log a complaint. I informed her I want to log one now, she said i could not do this and recommended i cancel my card to stop further payments coming out
I have now done this.
I will also if i managed to get through to yes loans take up my legal right to the recorded conversation I had with this con man Victor of YES lOANS (SUE ME AGAIN IF YOU LIKE) and will use this as evidence.

They also have a free phone number just ring and ask to be put through to "customer care" 0800 141141

They have done this to the wrong chap.....I will if needs be go down to the Yes loan offices.

I have templates to yes loans and to the trading standards ombudsman.
Lets get rid of these cowboys..if everyone with dodgy dealing do this i'm assured by legal people they will be dealt with.
There is also a campaign to get Watchdog to investigate again

for templates email me at ref2403@live.com

referee20010

Daisy4567 wrote: »

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.

YES LOANS FREE PHONE no 0800141141

neha1986

Hi Daisy,
Open your Saving Account instantly.Make your account Empty, if the funds are not there then the bank will not authorise the payment.
contact customer service provider or bank manager and tell them about
your problem.

chrisannegood

Hi,

Same boat as well.

I also cannot understand how this is continuing - as you say it looks like its been going on for years!! Surely its not legal is it???

The mind boggles........

charmed73

We all do stupid things when we are desperate, I too have been taken in by the YES Loans promise of a guranteed loan and paid the £69.50 admin charge only for no loan to materiase.

I have sent a recorded delivery letter requesting my money back after trying for ove 3 hours to get through to the "customer care" line.

I called the 0800 number and asked not to be placed on hold to be told in a very rude way "we deal with 55,000 loan applications a month, you will have to wait to speak to customer care". Its funny how when you want to take out the loan and give them money they answer the phone quickly and are polite, but call back and they just fob you off into a telephone queue never to be answered.

I'm not holding out much hope of getting the money back without a complaint to the Financial Ombudsman, but I have foillowed what was in the terms and conditions so after 30 days I will be complaining.

I was so deseperate the other week that I actually got caught out by 3 different companies with admin fees....yes I know how stupid I was, I just wanted to say that I one of the companies (We Approve) has already refunded my fee and they only got the letter on Monday, so at least i'm on the road to getting some of the nearly £170 I spent trying to get a loan I really have no chance of getting.

I now just have to realise I'm in a mess and I'm not going to get a loan to sort it out....i'm at my wits end what to do but at least I've finally realised more credit is not the answer.

Kazza76

Hi guys, I did the same back at the begining of June, tried calling and calling, costing a fortune.

I had to go on holiday then, so obviously passing the 14 days, I was trying to put togther a letter to send them.

I really feel if if I was pressured into it, and was in a vunrable state anyway.

can anyone help me with a template of a letter to send.

Kazza76

I have done the same with another two companies, and now realised its not going to happen, I have now signed up with a scottish company, that deals with goverment legislation to pay of my debts with no fee.

positivity

david39 wrote: »

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.

im definatly going to the bank 1st thing to stop yes loans taking any of my money befor i get paid, i wish i read all the bad reviews befor goin ahead i jus hope that it works though.

jont80

Has Yes Loans ever actually provided anyone with a loan ? There doesnt seem many happy customers about ?