Something Fishy?

tonyapanda

I was called out of the blue the other day by a company called Y3S, they basically offered me a guaranteed loan, stupidly I paid an upfront fee, they told me this was non refundable, predictably with hindsight there was no loan and they offered me a debt management plan, I do have some debt and need help but am I right to think twice about trusting them or is this commonplace?

The_Swerve

tonyapanda wrote: »

I was called out of the blue the other day by a company called Y3S, they basically offered me a guaranteed loan, stupidly I paid an upfront fee, they told me this was non refundable, predictably with hindsight there was no loan and they offered me a debt management plan, I do have some debt and need help but am I right to think twice about trusting them or is this commonplace?

erm....it is commonplace and yes you would be right about thinking twice about trusting them. You been scammed

tonyapanda

Quote:
Originally Posted by tonyapanda
I was called out of the blue the other day by a company called Y3S, they basically offered me a guaranteed loan, stupidly I paid an upfront fee, they told me this was non refundable, predictably with hindsight there was no loan and they offered me a debt management plan, I do have some debt and need help but am I right to think twice about trusting them or is this commonplace?

erm....it is commonplace and yes you would be right about thinking twice about trusting them. You been scammed

How can I get my money back and what do I do now? This is awful!

The_Swerve

tonyapanda wrote: »

Quote:

How can I get my money back and what do I do now? This is awful!

I would take a guess you have paid £50????

There has been a lot going on about these types of loan providers. It is a rip off. I would be surprised if they willingly give you the money back.

The trick with them is that people who would be willing to pay for such a loan are probably in a tricky financial situation anyway, and may well be easy targets for signing up for debt management. Whatever you do, do not pay any more to them, and do not enter into debt management with them.

If you do want to look into some sort of debt management, try CCCS, or Payplan, or at the very least one of the DEMSA/DRF affiliated debt management companies (most of whom will charge a fee, but these days are pretty tightly run)

The_Swerve

and remember, we all make mistakes, just learn from it and dont trust anyone with financial matters who just cold calls you.

GAH

How much did you pay?

Your first step would be contacting them in writing, but normally in cases like this they won't refund the money. This is were most of the companies make their money off the admin fees, and normally in their term it states that even if you don't go ahead with plan/loan, you will agree to forefit the moeny.

geoffky

y3s Group Ltd
Unit 9 - 10
Neptune Court
Vanguard Way
Cardiff
CF24 5PJ


write to them giving them 28days ..they will give you your money back minus £5

poppasmurf_bewdley

Did they offer you a loan and a Debt Management Plan in the same phone call?

Did it not occur to you that someone who knew you needed a DMP would hardly offer to lend you some money?

tonyapanda

thanks for all your advice, I have called and written in I did some research and found an article on them on MortgageStrategy.co.uk


the comments seem to shed a lot of light on what kind of characters they are, fingers crossed.

To answer your question poppasmurf, it wasn't the same call, they called and offered a guaranteed loan took a fee, then said they couldn't do the loan on the next call and pushed me to a chap I think his name was Phil to try and get me on Debt Management.

AndyPanned

http://y3sfinancialservicesfacts.wordpress.com/

This blog seems to reflect some very very poor practices, I was a victim of one of their scams so really have my claws out, I emailed this site with my experiences and they published it duly. I would suggest doing the same, if enough attention is drawn to them the authroities will surely have little choice other than to act.