yes loans

lalachip

i recently went onto a website for yes loans. out of curiosity i applied for a loan of £6000. within two minutes of submitting my application i recieved a phone call from yes loans asking me more questions to support my application. i was then told that i had been accepted for a loan from them.

i have applied to different loan companies and been refused in the past so was very suprised to be accepted i was told that i needed to fill in the forms that are on their way to me and send them back with £49.50 admin fee.

i have seen on this site and others that this has happened to a number of people who hadn't recieved any money and no refund. (all in 2005)

just wondering if there is anyone that has heard of the company and actually got through with their loan

AMILLIONDOLLARS

Don't do it, Yes are not the company giving you a loan, they are only acting as a middleman/broker, there is no guarantee that you will get loan using them. Save yourself time and money and go elsewhere!!

mrcow

lalachip wrote:

i was then told that i had been accepted for a loan from them.

What are the terms? Length of loan/APR. If they haven't written to you stating clearly that you've been accepted for the loan and state exactly what your terms are, don't touch them. And for goodness sake don't pay them any money upfront :rolleyes:

What's the £6k for?

lalachip

thanks for you words of advice. i thought they were dodgy as soon as they asked for money upfront.

the 6k is to pay off some debts and treat me and my family to a well deserved holiday.

any suggestions on decent loan companies that are not likely to rip you off?

mrcow

lalachip wrote:

the 6k is to pay off some debts and treat me and my family to a well deserved holiday.

any suggestions on decent loan companies that are not likely to rip you off?

Do you think it's your credit rating?

If you've been refused loans in the past, please note that you are in all probability NOT going to get a decent loan (and you shouldn't be borrowing money to go on holiday anyway :eek: it's going to last two weeks and take the next five years to pay back!). The fact that you have been refused lending before should be ringing some alarm bells straight away. You could well find that the only people who will be prepared to lend you money will rip you off royally (and if you don't see them coming you could end up owing thousands more than you do now!).

What actual debts do you have? It's worth getting yourself over the debt free wannabe board on this site and posting up what they are for some advice on how to get yourself DEBT FREE.

Then.....save your money and take your family on a well deserved holiday.

Don't be chucking your money down the toilet on a two week vacation to somewhere that you can't afford. It's bad economy.

If it's any help, the papers are doing the £9.50 holidays again over the next week, would you still need a rip off loan if you perhaps chose to go on one of those instead?

file_wizzard

In short, they are a broker, and a rip off ( allegedly ), I have yet to hear of any one actually receiving a sensible loan offer from one of their providers, if they don’t place your application then you will have to wait 6 months to reclaim your "fee" and even then it is nigh on impossible to extract the money back out of them.

lalachip

i know i shouldnt be thinking of loans to go on holiday but when you are in my position working all the hours god sends and not seeing anything at the end of it you start to think that you might as well get a loan. i dont really want one as i start to think of the bigger debt i am going to be in but when companies keep pestering you saying that you could have a loan you start to think what the hell!

I will take your advice and look at 'debt free wannabes' and see if they are any help.

thanks for bringing me back down to earth!

i was looking at the papers today at the £9.50 holidays but they are all for this year which is too soon as i have work committments

Locana

They are so bad, they said I was accepted, then gave me the phone number of citi financial. I could have done that myself!!!! Even then, Citi would only offer £1000 and the interest was extortionate. Don't do it.