Yes loans - no thanks!!!!

Uibhist

I made an enquiry to yes loans yesterday. They asked me to pay money upfront which I told them I didn't have and didn't want to proceed. I was then passed through to someone else who asked me to open my email account and click on links etc. When I opened my email I noticed that it said something about approval for a £300 loan. I told the guy that I did not want a loan but he said just to ignore that as it was just people trying to sell add on's - we were only enquiring to see whether I would be able to get a loan. Once I done what he asked the line went dead as it was 6 o'clock (the first person I spoke to said they shut at 6). I received another phone call this morning asking if I wished to continue with the loan and I said no.

I have just checked my email to find an email informing me that £300 had been deposited into my account from Payday loans! I did not want this money, maybe I have been stupid by following the guys directions but I don't know what to do now. I'm in the process of applying for car finance through a dealer and I think might just ruin my chances.

Can anyone advise me what to do as the company wants me to pay back an extra £75, which I cannot afford to do!!

PLEASE HELP ME!

Boris_Allen

Well it's not really your problem if they've handed you £300 you didn't request is it? :P
Why would this cause issues with the car finance application? Whatever you do, do not pay back any more than the £300 you have been given. It will be far more hassle to reclaim money stolen from you unfairly than it will be to ignore demands for payment

Uibhist

I've sent an email saying that as I didn't realise I was being entered into an agreement, I'll happily pay back the £300 but no interest on top. I get the feeling that won't be the end of it though

masterlumps

you're having a laugh right?

CHR15

Not sure what to make of the first and second posters.

No two posters in a row can be so daft surely!!

Uibhist

I am aware that I made an error so if you're not going to say anything productive to advise me, masterlumps & chr15, how about you just don't say anything!

Apples2

Uibhist wrote: »

I am aware that I made an error so if you're not going to say anything productive to advise me, masterlumps & chr15, how about you just don't say anything!

Exactly what you should have said when this clown was leading you toward financial misery..... nothing.

For all which is holy, WHY did you carry on giving out ALL your most confidential information to some stranger on the phone??

Instead of ranting, have you tried reading the threads you are posting on?

All the info is already there, or would you feel better if we went back and copied it out again?

https://forums.moneysavingexpert.com/discussion/388793

poppasmurf_bewdley

Are you sure the £300 has been paid into YOUR account, and not just into 'an account for you' waiting for you to claim it? It's highly unlikely they've given you a loan without you paying the requested fee up front first. Did you give them your account details?

ponbeam

If they have signed you up without you knowing then you should be entitled to giving the money back interest free. But you also have under the Consumer Credit act 1974 a 14 days cooling off period on any credit agreement done via the internet,post or telephone.
You should therefore be able to give back the money with no interest added on top.
hope this helps.
Dan

Clive_Woody

Uibhist wrote: »

I made an enquiry to yes loans yesterday. They asked me to pay money upfront which I told them I didn't have and didn't want to proceed. I was then passed through to someone else who asked me to open my email account and click on links etc. When I opened my email I noticed that it said something about approval for a £300 loan. I told the guy that I did not want a loan but he said just to ignore that as it was just people trying to sell add on's - we were only enquiring to see whether I would be able to get a loan. Once I done what he asked the line went dead as it was 6 o'clock (the first person I spoke to said they shut at 6). I received another phone call this morning asking if I wished to continue with the loan and I said no.

I have just checked my email to find an email informing me that £300 had been deposited into my account from Payday loans! I did not want this money, maybe I have been stupid by following the guys directions but I don't know what to do now. I'm in the process of applying for car finance through a dealer and I think might just ruin my chances.

Can anyone advise me what to do as the company wants me to pay back an extra £75, which I cannot afford to do!!

PLEASE HELP ME!

Did you give them your bank details?

katkerr76

ponbeam wrote: »

If they have signed you up without you knowing then you should be entitled to giving the money back interest free. But you also have under the Consumer Credit act 1974 a 14 days cooling off period on any credit agreement done via the internet,post or telephone.
You should therefore be able to give back the money with no interest added on top.
hope this helps.
Dan

ok to get your money back from yes loans you have to send a letter back stating why you would like the refund, this needs to have on it your signature, the loan application no... you will get your money back but it can take upto 30 days to get a refund.

Getting a loan from yes loans, is for subprime customers, those who have difficulty getting a loan else where.

The Fee that they charge is an up front fee , you are made aware of it at the time of the application, and there are no hidden charges like if you went to your bank.

if you are unsure of the terms and conditions, look on their website under terms and conditions section 10.