Yes Loans

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I also fell foul to this scam.

I applied for a 15k car loan over the phone. Was advised that a loan would be available if I paid the £69. Paid using my debit card. Put through to a loans advisor who "advised" me that a company had "come forward" to offer me 3k - not 15k?!?

Tried to call their "customer services" number - constant hold music.

Wrote a letter to Yes Loans requesting a refund (sent using Royal Mail Signed For to prove delivery). Sent various Emails to various Yes Loans Email addresses which I found on by googling around which also included the two directors. No reponse to Emails or letter. There is a good letter template available on some other site or blog regarding the Yes Loans scam.

Emailed Financial Ombudsman who sent me a complaints form. Filled out the form and returned with a copy of my original Yes Loans complaint letter.

Received a cheque about 1 month later from Yes Loans with a letter saying some bull about "not being the usual standard".

Whole process took about 2 month before I got my money back.

Hope this helps.

fozmcfc

Do you have a bad credit history?

If you're going through Yes loan, then it would suggest you obviously believe you cannot get credit from a standard lender such as a bank and have a bad credit history.

15k for a car loan is a huge amount, can you justify it, or is it more of a whim/fancy then an essential.

MikeR71

I have also fallen for the Yes Loan scam.
To cut a long story short, I called them up and enquired about a small loan and the guy took my details. He also asked for my bank details but clearly stated that they would not take any money until I return the forms to them with my signature. In the meantime I changed my mind about the loan and never returned the signed form. A month later I noticed £69 taken from my bank account the day after my original call. So I called them up and after avoiding me for weeks I was told to write in to request a refund. Funny that, I thought, as they never required a written permission to take my money!!!

Anyhow, after writing in I was told to wait 6 weeks for a reply. So I thought this was too much and complained to the financial ombudsman services. With two weeks I received a cheque and an apology with a full refund.

For me the issue is not whether they are a brokerage service or not or what. For me the issue is that they take a fee without your consent and never let you know again. If I hadn't noticed on my bank statement they'd never have contacted me again. It's theft, pure and simple.

I am just amazed that the regulatory bodies allow them to continue to exist when they are clearly thieves.

MikeR71

Portmanteau wrote: »

Can anyone please help me with this please my partner has also fallen foul of this scam.

Contact the government Financial Ombudsman service. They act on your behalf and you will get your money back.

jadeyfamous

Yes Loans, more like No Loans.
I wish i had looked into this company before processing an application with them.First of all, THEY contacted me, i did not contact them. I believe they got my details from a loan comparison site in which at the time i was looking for a loan to buy a car. When i got the call they said they could give me a quote, so i thought why not. They did a very lengthy application over the phone and said i would be accepted for the loan amount i wanted, which i thought was great seen as because ive never had to apply for credit before i was finding it difficult to be accepted for a loan, so i proceeded to ask them what the APR rate would be, the man told me that he couldn't tell me this at this time...?! so i said i would no way be interested if they couldn't tell me the APR rate, then he said he would put me through to someone who could sort this for me, so he did. Again i got told that the only way i could find out what the APR would me is if i handed over a 'admin fee' of £69.50 and that they could 'release the papers' for me to sign. Just LOL. what a load of crap, so i said do not call me again im not interested.
A few days later these 'papers' turned up, said that i needed to sign them and send a cheque for this 'admin fee' so they would find me a loan. At this point you've probs guessed that Yes Loans are a broker, they do not advertise that they are a broker though.
I ignored these 'papers' and then about a week later i noticed that exactly £69.50 had been debited from my account. I called Yes Loans to see if it was them, where i was put through to a extremely rude man who sounded like he was a chav that couldn't talk correctly and had no manners what so ever, his answer to everything i asked and said was 'i dunno'. I did not consent to anything to be processed or any money to be taken what so ever.
as their terms and conditions state, if you want to cancel a application you have to give them written notice within 14 days, so i did so. 3 weeks after i sent my recorded notice i still had not heard anything, so i sent another recorded letter, after 2 weeks i had STILL no heard anything. my 3rd and final letter i sent i told them that i would now be taking this up legally. after 4 weeks i had STILL not had any contact from them! 3 days later i had a cheque arrive in the post from them. I'm going to be cashing it into my account tomorrow so we shall see if it clears.
PLEASE do not bother with this company, not even if your desperate for a loan! The people on the other end are hopeless and its shocking how they talk to you, shout at you and even had them swear at me. I cant believe that they still actually have a broker license after all this evidence that they are just scamming people. Someone needs to shut this company down.



Also yes loans themselves dont look for a loan for you, they just give out your information to companies to contact you directly with, for weeks i had 'car finnance' companies calling me none stop every day, harassing me over and over calling back every day after i told them to disguard my information. each time i asked where they had had my information from and every single one said 'from yes loans'...

referee20010

I have sent Yes Loans a Court claim for the £69.50 they took of me plus the 3 hours time i was on the phone to them and the fee for 2 x recorded delivery letter.
The Court have received an Acknowledgement of service from them, stating they intend to defend all of the claim.( GREAT, I can have my day in court with them, unless they decide to pay up before we get to court)
I therefore would like anyone who has had the misfortune of these conmen to send me an email to the email address below stating how they have been misled or conned.
I will create a folder to present to the court along with my Claim...
I cannot wait for my day in court with them, and with your help (by emailing me) we can stop these people from scamming other innocent folk

email me at

ref2403@live.com

issytm

hi i went to the Financail obudsmand and lo and behold a cheque fo £69 landed on my mat a feww days later

referee20010

Hi all
I have sent a small claims court letter to Yes loans and the court has informed that they has received an acknowledgement of service that Yes loans intend to defend the claim (Great I can have my day in court with them now, unless they pay before the court date)
I now need every ones help who has had the misfortune of dealing with this company.
If you have been conned and/or misled please email me a brief description on what happened. I am putting together a folder to present to the court as along with my claim, I hope to put an end to this company ripping innocent people off. With every ones help I will get the chance to do this

email me at

ref2403@live.com

lookbeforeyouleap.

i contacted them today and fell for it like everyone else, they took my bank details and my card details , once they had said i could have a loan i then smelled a rat after being put through to various people firstly payday loans which i absolutley didnt want and told them so.... so checked online and found out how bad they were.

now while on phone i intially gave my credit card details but its up to the max and was declined, i then gave my debit card details. anyway as the call went on i asked more and more questions and in the end told i definately had an offer from a company for a loan and the paperwork would be in the post and the guy said bye and hung up.

after reading all the negative feedback strightaway i phone my bank and explained what had happend, the put me through to the fraud department, on checking they said that yesloans had not yet tried to take the 69.50 fee so he cancelled my card and put a block on the account and has ordered me a new card, i was amazed they had not tried to take it as when they tried to take from my credit card it was declined stright away. the bank advised me to also cancel my credit card in case they tried to take again when more funds avilable.

i then realised they had my account number and sort code so phone the bank back and they told me that they could only get money that way by setting up a direct debit which i would have to sign and agree to , however i will keep an eye on my account just in case but going by what the bank have told me i look like i have been lucky and acted quicky enough to not have the money taken. fingers crossed!

Icantbelieveit

I can't believe that they are still getting away with this. Yes, I too have been suckered in and am £69.50 lighter. I have been waiting for 3 weeks for paperwork from 3 lenders that they told me would be willing to give me a loan. I knew they were only a brokerage service not an actual loan company.

In the meantime whilst waiting for said paperwork I had a call from another loan company that they had shared my details with but I can't remember what company they said it was, anyway whilst talking to the lovely and informative Wendy (and no I am not being sarcastic) I asked her if she was with Yes Loan, she then proceeded to tell me a few home truths about Yes Loan and they were the following:

1. "When you call them you will be told that there are over 20 callers waiting ahead of you and to call back later"

- this is most certainly true as per my experiences. The only way to get through is to be on your phone at 08:58 am call the customer service number, it will tell you the office is closed then tell you the opening times. At that point you should put the phone down, pick it up again and hit the redial button, (I know this sounds crazy but I have done this and it works) keep doing this until the message changes and stay on the line you then hear a message to say that you are number 3 in the queue and you get through and you can actually talk to someone. But then you are wasting your time as they give you the scripted speech that there a 3 loan companies willing to give you a loan and the paperwork will be with you in 3 working days.

I advise you not to waste your money making the calls.

2. "They take your £69.50 and give your details out to other loan companies, we do all of the leg work and they keep the money"

- which is also true in my experience, i was inundated with phone calls and emails

If Wendy would only call me back as I would like to thank her for the information she gave me. I called my bank today to ask the question if a company has taken the money from your account and they haven't provided the service could the bank help in getting the money back Natwest said that they couldn't as it was done on my debit card and I would have to contact Yes Loans. I did laugh out loud and told her that Hell would freeze over before I got through to the Yes Loans complaints department, so I told her I was going to the OFT and the financial ombudsman (that is a word I can't pronounce out loud :-) LOL) and she told me it is the best way to go.

So I am not going to get mad, I am going to get even and will go through the official channels to get my £69.50 back and I am going to put in a claim for my telephone charges to be refunded and I might even be cheeky and ask for personal compensation for the upset and anguish this whole sorry episode has caused me.

We have got to stand up to these scammers because they think just because we have a bad credit rating we will say YES to anything they say. OMG the penny has just dropped. They aren't the ones saying Yes, it is us. Just wait until Anne Robinson and the Watchdog team come back from they hols. We all need to get in touch with her and the team and get this company shut down for good. Martin, this is a fantastic website and you ROCK

So the plan of action is: contact the OFT, the Financial Ombudsman, Anne Robinson and anyone else with any clout - Are you with me guys and gals?