PPI - Mind Blowing Decisions

20vision

Hi all,

I have been trying obtain a car loan for the past week now and I have been giving an offer which I would like to run by you guys - as I am a little green when it comes to things like these.....

I wanted a 5k loan and Yesloans provisionally agreed to my application - although whilst I was speaking with them, they put me through to their senior finance reps who informed me of reclaiming PPI, (which I stated that I am not interested - merely because I saw the link here for doing it yourself) and they said that I have money due back to me in the region of 20k and they would offer me a cheque of 5k to buy the reclaims from me....

So my question to you all is how real is this offer???

If this question has been raised before, please can you redirect me to the correct post.

Thanks for reading

robbedofmymoney

sounds like a con to me,

do any miss-sold claims yourself, it's easy enough.

what they will probably do is ask you for an initial fee to look into your individual case, then you will hear nothing.

this is only my opinion, but based on what i have seen on these threads, this is what is likely to happen.

marshallka

I would say to steer clear of them. If you look on here for threads of "Yes loans" and their "Other" firms you will see where I am coming from and you will see that these type firms making claims like that are actually scam artists taking money from people upfront and then doing nothing with their claims.

Also how do they know you were missold on ANY loans? They need reporting to MOJ and closing down in my eyes.

dunstonh

Its a con. It is also likely that they are doing this without the knowledge of their employer or compliance department.

marshallka

dunstonh wrote: »

Its a con. It is also likely that they are doing this without the knowledge of their employer or compliance department.

Why would you say "without the knowledge" dunstonh? From what we can see from posts on here the people working for most of these firms have to have a degree in lies and deceit to get their positions in the first place.

dunstonh

marshallka wrote: »

Why would you say "without the knowledge" dunstonh? From what we can see from posts on here the people working for most of these firms have to have a degree in lies and deceit to get their positions in the first place.

The OP says it was actually staff working for the loan provider that told him this.

"I wanted a 5k loan and Yesloans provisionally agreed to my application - although whilst I was speaking with them, they put me through to their senior finance reps who informed me of reclaiming PPI"

I cannot for one minute believe that a loan company would encourage people to put in claims.

di3004

Hi 20Vision

I agree with them all on here, steer clear from them and have a go yourself with free help from this site.

Lots have had no end of hassle using claims companies and its simple enough to do yourself, and if you need any help just ask.

Good luck.

marshallka

dunstonh wrote: »

The OP says it was actually staff working for the loan provider that told him this.

"I wanted a 5k loan and Yesloans provisionally agreed to my application - although whilst I was speaking with them, they put me through to their senior finance reps who informed me of reclaiming PPI"

I cannot for one minute believe that a loan company would encourage people to put in claims.

But aren't Yes Loans attached to some PPI reclaiming company?

https://forums.moneysavingexpert.com/discussion/comment/36768472#Comment_36768472

https://forums.moneysavingexpert.com/discussion/1786103

And all over Canyoutrustthem ....... !!!!

Oh and here too

http://blogs.mirror.co.uk/investigations/2010/08/too-little-too-late-from-benef.html

dunstonh

marshallka wrote: »

But aren't Yes Loans attached to some PPI reclaiming company?

https://forums.moneysavingexpert.com/discussion/comment/36768472#Comment_36768472

I wasnt aware they are.

Either way, it is either dodgy if they arent or extremely unprofessional if they are.

note James comment above as FSA rules prevent a company from charging a client to investigate a complaint about themselves.

marshallka

dunstonh wrote: »

I wasnt aware they are.

Either way, it is either dodgy if they arent or extremely unprofessional if they are.

note James comment above as FSA rules prevent a company from charging a client to investigate a complaint about themselves.

Just added another link you may find interesting and proof of the same people running both the Loan company and the claims companies I would say.

jamesd

I deleted the comment that dunstonh referred to as it seemed redundant when I saw comment made between starting and finishing writing. The only actual knowledge that Yes Loans would have would be about Yes Loans themselves. If they know of a mis-sale that they have made, they are obliged to correct it, not try to get more money from you. And their compliance department is hardly likely to appreciate encouraging you to make complaints that would lead to them having to pay out more money to you than any charge that they make.

What loans have you had in the past where you've had a lump sum added to the loan amount to buy PPI?