Yes loans fees

edited 20 October 2011 at 10:00AM in Stoozing: free cash from credit cards
4 replies 1.4K views
IneedadollarIneedadollar Forumite
2 Posts
I recently applied for a loan through YES loans. They took £69 from me as an admin charge but on the basis that I was successful in taking a loan. They stated that if you DID NOT take a loan they would refund the money.

They conveniently operate a 30 day return policy on your £69 and you have to write in or fax stating that you do not want the loan and can you have a refund. I faxed and sent a letter via recorded delivery.

30 days was up a week ago so then I called and was told that 'Oh we haven't actioned your refund although we did receive your letter'. They have now supposedly handed it over for investigation!!! I was told that no one will contact me and that I will have to call back in 5days time!

This seems to be A BAD DEAL FOR THE CUSTOMER. If yes loans are doing this to lots of customers and not returning the money for 30 days plus, how much are they making on interest???
has anyone else had this with YES loans?

They are not the most helpful company and I would warn any one thinking of applying for a loan to take caution with yes loans.

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