Join me in the fight to stop yesloansuk.com

trouser

Has anyone suffered similar. YesloansUk.com taking money from their account to the sum of £69 for brokers fees then being passed to and fro and having a further £375 taken out on some no win no fee swindle over PPI. And when you cancel well within the 14 day limit you receive no refund after 30 days taking a complaint to the financial ombudsman to sort things out.

Well so have many others, but I dont think anything real is being done about it, I feel its quite criminal especially since the customer service line can ring for over 30 mins at 10p a minute yet the sales team are instant and any complaint is made with either a hang up or passed onto the same 10p line.

Please join me in a joint effort to put forth a complaint to the financial ombudsman, and the office of fair trading for the direct violation against the consumer credit act

Please only genuine cases that have gone unheard of and cases where money has been refunded only after a formal complaint to the ombusman and we'll take it to the next stage. Lets stop them trading in the way they do, this also goes for the barrage of cold calling they persist in doing please. I'll post my email to send stuff to when i get some real support.

cheers everyone

kimbo1234

Email this guy [EMAIL="auxr4dar@hotmail.com"]auxr4dar@hotmail.com[/EMAIL] we are putting together a case for trading standards.

Enfieldian

I will join you in the fight to "stop people from giving out their bank or card details unnecessarily", if that helps......

Apples2

Whilst not trying to Defend Yes Loans, people really should start READING the T&C's.

Why oh WHY are people moaning about being kept on hold whilst they rant about getting their refund when the T&C CLEARLY state it must be done in writing???

Whilst I disagree with the whole Yes Loan business model, it all seems pretty clear if you have a look at what you are signing up to.

That's the biggest issue, people simply believe someone else should be looking out for them and go about their way blissfully ignorant to taking the most basic of precautions.

I have absolutely no connection, nor have had ANY dealings with Yes Loans but even I can go 5 minutes out of my way to have a look at the T&C's..... how come people who feel cheated cannot spend this 5 minutes looking???

http://www.yesloansuk.com/terms/terms.php

We provide a variety of services by phone, internet, mail and other means. These may include acting as a loan and finance broker; insurance introducer*; introducer to debt and property possession adjusters/advisers, utility switching agents, compensation advisers, prepayment card and bank account providers, equity release arrangers and credit reference advisers.

When acting as a loan or finance broker we seek to get a lender or financier to offer You a loan or finance. We act as your broker for 3 months in order to maximise your chances of getting a lender or financier to make You a loan or finance offer.

We do not offer loans or finance. The lenders or financiers decide whether to approve loan or finance applications, how much to lend or finance, at what interest rate, on which terms and on what evidence of ability to repay. Where We give examples they are only illustrations. We do not warrant that examples are the actual rates and amounts because the lenders or financiers decide whether to give approval for any loan or finance and on what terms according to your specific circumstances.

Unless You inform Us differently, You agree to Us using telephone, email, SMS, fax and/or post to contact You to discuss products and services without having first been expressly invited to do so. This will override any registrations You may have with any preference services.

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 3 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. If a lender or financier makes You a loan or finance offer, in addition to the fee We may also receive a variable commission from the lender or financier (more detail is available on request) and You agree that We may retain it.

2. Under 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 Yes Loans Ltd notifying 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: Customer Service Department, Yes Loans Ltd, Tintern House, William Brown Close, Llantarnam Industrial Park, Cwmbran, NP44 3AB.

iolanthe07

Excellent post Apples2. People come on here all the time whining about being conned by Yes Loans and others, but have clearly parted with their money or bank account details without even reading the terms and conditions, which you would think wouild be a pretty basic precaution to take before entering into any kind of financial commitment.

Enfieldian

kimbo1234 wrote: »

Email this guy [EMAIL="auxr4dar@hotmail.com"]auxr4dar@hotmail.com[/EMAIL] we are putting together a case for trading standards.

Alas, I doubt even Trading Standards can make a case due to applicants stupidity.

david39

Apples2 - that's very interesting.

I have complained about Yes Loans on this, and other boards, because I believe, in fact, I know, that the telephone calls that I have received from all sorts of shyster companies have been generated from my request to YL for a loan. They started a week after I applied and have continued for two years.

Luckily, I never parted with any money to YL because I was really contacting them on behalf of someone else - just to later guide them through the process.

The 4th quote, regarding agreeing to be contacted by other "associated" companies for financial services, I would have thought was not legal - I thought, these days, you had to specifically opt-in to that, not opt-out (Unless you inform us differently ...... should be (on the application form) Tick this box if you would like us, and associated companies to contact you with offers that we think may interest you).

I would be interested to hear if other people have also been contacted by IVA pedlars, people who can clear your credit card debts, people who can get insurance premiums refunded etc. immediately after contacting YL. The calls are persistent, sometimes twice a day.

I finally got rid of them by just putting the phone down on them without speaking. If you have CLI, not answering them doesn't work - they start calling at night.

fozmcfc

Whilst I have never ever used such a company, in general I agree that many people don't read the T&C's properly even with financial agreements. It's just like many people don't read the instructions properly before using phones etc. It is usually only when something goes wrong or when they need an answer people start to bother with them. I have very little sympathy, with those people.

BUT many people who come on the board, accept that the fee is taken, but claim to be told that they definately have a loan at a certain APR, then find that the loan is for less and/or the APR is much higher. Now are all these people lying or have they simply misunderstood what is being said to them by the Yes call centre person.

As for the refund, yes it clearly says you must write, so again no sympathy for thoses who don't. BUT do people get their fee back minus the £5 if they do write to them as well, or do they get the run around.

Finally, I wonder if someone with an excellent credit rating contacted them, whether they could/would be able to source out a loan at a decent APR.

1/ So perfect situation, would be.

Caller "I would like a loan for xx please".

Yes "ok let me take details and I need your card details for out fee to try to find you a loan".

Caller "ok card details blah, blah".

Yes then pass on information and person receives loan quote, maybe higher. Caller accepts and is happy.

If not.

Caller, rejects all offers for 3 months.

Caller, writes to Yes wanting fee minus £5 back, fee return.

Yes refund fee minus £5.

2/ What many people are saying.

Caller "I'd like a loan for xx please"

Yes "let me take details"

Yes "congratulations, your application is successful and we have found you the loan", "to process it we need to charge a fee".

Caller "ok here's details".

Caller then receives completely different loan offer, or no offer.

Caller disastisfied, after numerous calls, emails, writes to them.

Yes do not refund money, despite letter, more letters, calls, emails and Yes finally refund or worse still caller has to write to FSA or whoever to take up case to get money back.

So what is it 1 or 2, many people are saying 2. Be good to actually hear from someone that 1 actually does occur even 1 in a millon times.

mabski

Apples2 wrote: »

Whilst not trying to Defend Yes Loans, people really should start READING the T&C's.

Why oh WHY are people moaning about being kept on hold whilst they rant about getting their refund when the T&C CLEARLY state it must be done in writing???

Whilst I disagree with the whole Yes Loan business model, it all seems pretty clear if you have a look at what you are signing up to.

That's the biggest issue, people simply believe someone else should be looking out for them and go about their way blissfully ignorant to taking the most basic of precautions.

I have absolutely no connection, nor have had ANY dealings with Yes Loans but even I can go 5 minutes out of my way to have a look at the T&C's..... how come people who feel cheated cannot spend this 5 minutes looking???

http://www.yesloansuk.com/terms/terms.php

I think its the part where they tell you they already have a loan ready for you payable within 48hrs that needs stopping as its just blatantly a lie and its only said to get you to pay them and it is fraud

Bob_the_Saver

Look, without Yes loans and Ryanair these forums would not exist so back off... OK

Enfieldian

Bob_the_Saver wrote: »

Look, without Yes loans and Ryanair these forums would not exist so back off... OK

Don't forget Gary Cooper, the Daily Mail and private parking tickets.....