Yes Loans - PLEASE READ

Badger1975

Hi
I am new to this site (brilliant - thank you ML), and therefore am sure there has already been debate on the pitfalls and being ripped off by Yes Loans. However, I feel compelled to warn as many people as possible and offer my support to those who have already fallen for their scam in good faith.
I have always had an excellent credit score and fortunately have a regular income but the recession has finally hit and I have recently fallen into difficulties and become effectively trapped in a downward spiral. Having been declined a loan to consolidate debts by a High Street bank in a state of panic I wanted to immediately take out a consolidation loan - and as such didn't give it full consideration. I take full responsibility for my current financial situation, my ignorance of this 'market' and for falling for this scam thus fully appreciate how this company is making a fortune from those vulnerable and trying to rectify their situation. For many households in severe difficulty/living in poverty the consequenses of losing that money is a further disaster and could have severe consequences.
Not only is the practice of Yes Loans immoral, it surely cannot be legal - and even fraudulent? I have read the thread on how this could be deemed as fraud but how do you proceed with action to get this practice stopped as a civilian - I understand they have had their license renewed by the regulators.
If anyone reads this and has legal/fraud/consumer advice on how to get this company stopped immediately please reply to this thread, I am also keen to get a campaign group together. This must be stopped.
Thanks for reading.
Best, Badger1975

BlueAngelCV

It might help if you explain what their immoral, possibly illegal & fraudulent conduct has been.

referee20010

I was recently asked by YES LOANS to give my card details as a security check, is this legal for them to ask for this?
I stupidly gave the details and they took £69.50 from my bank account without my authorisation. I have contacted my bank who put the money back into my account but they told me they could not cancel any more payments to YES LOANS as i had willing given them my details. I explained why I had given them and was told i needed to cancel my card and get another.
Just seems strange that money comes out without authorisation and the bank still cannot stop any future money coming out from them.

My bank say they are not allowed to ask for card details as security,
can anyone confirm this.

I would also like to send £10 for my legal right to get the recorded conversation that took place anyone know an address I can get this from as they are not very helpful at giving me an address, customer service say not there department..

They have a free phone TEL number so don't waste money on there call rates 0800 141141

DarkConvict

This address? - http://www.ico.gov.uk/ESDWebPages/DoSearch.asp?reg=4498607

If you gave Yes Loans your card details, there would have been a point to it. Was £69.50 there admin fee for processing the loan? Have you checked your T&Cs or even rung Yes loans to ask why they took the money?

Other complaints - http://www.reviewcentre.com/reviews95640.html

If you have a problem talk to the FSA/FOS.

DEVONLIFE_2

Referee20010
Found this
Yes Loans Ltd is registered in England and Wales. Registration number 04553449. Registered Office: Cradoc House, Heol-Y-Llyfrau, Aberkenfig, Bridgend CF329PL Hope this is of use.DL.

jason_jones_2

hi there im writing on behalf of a freind who has unfortunitly been drawn in by yes loans. my freind isnt computer litrate so did not know about forums or what info was out there.

I've read through alot of your comments and would like to know if anyone has actually tried to get a refund and received it back? if so how?

dont worry before anyone asks my freind has stopped calling "NO LOANS" you woldnt like to see the phone bill. OUCH!

if anyone can help please do!

P.S
it has to be said they really need to change that update the music colection! HA

Thanks

Workie_Ticket

I was tasken in by this scam. I eventually managed to get my full £69.50 back, but not without a bit of a fight over the phone (ever tried phoning them - has to be the longest time ever on hold), a letter (as they can take the money off you over the phone, but all refunds have to be requested in writing) and further phone calls when they only refunded £64.50.

I also managed to find a normal phone number to their switchboard which was free to call from my landline (have since deleted all details of them from my phone so can't put it on here).

DGJsaver

This particular sub-forum has gone so far downhill last couple of weeks , i dont personally think it will recover...

louno13

I am currently trying to recover my money through my bank as YES LOANS are either not talking to me and just hanging up or leaving me on hold for a very long time! This is terrible as they rang me and i said yes to a quote but refused the loan when i found out how much their interest rate would be, I had no idea they would take money out without my consent or my business. THEY ARE THIEVES!!!!!

referee20010

I am now taking this company yes loans to court.
I have sent a small claims court summons and yES LOANS have sent an acknowledgement of sevice bask to the court stating they are to defend all of this claim
Great now i can have my time in court with them.
I am putting together a file to present in court along with my claim.
If everyone who has the misfortune of been misled by this company can send me an email just stating what has happened with them It will be a very large file.
Please email me at

ref2403@live.com