Yes Loans

Robmac_2

Hi everyone. Just like to say that I suffered the same experience with YES Loans and thought - after reading some threads - that I would have a fight on my hands to get my money back. I started with a letter expecting not to get a reply and was preparing to send my next when AMAZINGLY I received a cheque for £64.50 (£69.50 less £5.00 broker fee).

I have copied the letter below should anyone like to use it. It worked for me!

I am now claiming my £5.00 back as I feel I was miss - sold their services and should be paying nothing. Don't let these criminals get away with it.

Letter
Dear Sir’s

Re: Application .NameYour ref: Loan ref

I wish to cancel my loan application with Yes Loans (referenced above) under section 12 of your terms and conditions as sited below.

Extract Yes Loans Terms and Conditions
12. Under Financial Services (Distance Marketing) Regulations 2004 you have a right to cancel your application within 14 days of receiving these terms and conditions and receive a refund. If You wish to cancel your application, You must write to Yes Loans Ltd notifying us. In this event We will refund your fee within 30 days of the date on which We receive your written request to cancel your application. Any such requests should be made to: Customer Service Department, Yes Loans Ltd, Tintern House, William Brown Close, Llantarnam Industrial Park, Cwmbran, NP44 3AB.

Although I am not obliged to give a reason for this I would like it to be known that I feel your application process is extremely misleading in that up and until the point that you debited my credit card, I had been clearly given the impression that a)Yes loans was lending me the money and b)That my application for a loan of £XXXX. had been accepted. That is to say you had agreed to lend me the money and NOT - as is the case - that you had agreed to accept my application. (I would be interested to know what percentage of people who call you DON’T have Yes loans agree to accept their applications?)

Only AFTER I had given consent for my credit card to be debited was I informed that I had in fact yet to apply for a loan and that you are merely a broker.

I feel conned and after reading many complaints about Yes Loans on the internet am worried that I do not receive a refund within the 30 day’s if at all.

Should this be the case please be assured I will not hesitate to take legal action against your company.

I will expect a FULL refund within 30 days of your receipt of this (registered post) letter.

Regards


Hope this helps and good luck. I am now going to have a beer to celebrate my minor victory.
:beer:

rushy1967

just had the same problem with yes sharks have taken 69.50 out of my account after i phoned them to cancel it I HAVNT SIGNED ANY DOCUMENTS AS WELL
but they took it out of my account yesterday

triticale

Why is everyone dishing out their card details to these people?!?!

R0bert_Sterling

triticale wrote: »

Why is everyone dishing out their card details to these people?!?!

Because they have ZERO financial intelligence....Simples !!!

rushy1967

:beer:

R0bert_Sterling wrote: »

Because they have ZERO financial intelligence....Simples !!!

pmsl:T

rushy1967

anyone ever heard of city fiancial they are based in stockport

jobaby1

I have just got a refund cheque (minus the £5 fee) from Yes too after a 2 month battle. I will also be going for the £5 fee. I suggest reporting them to OFT & FOS so hopefully if enough compain they may actually do something about this crappy company !

babyboysmum

I CALLED YES LOANS TODAY FOR A LOAN AND THEY TOLD ME I HAD BEEN APPROVED ALL I NEEDED TO DO WAS GIVE THEM £62.49 (ADMIN FEE) I SAID NO AND THE REP ON THE PHONE WAS FUMING :mad: STARTED BULLYING ME AND HAD ME IN TEARS CALLING ME ALL TYPES TRIED TO LOG COMPLAINT BUT GETTING PASSED ABOUT THE ONE THING I HAVE IN MY FAVE I HAVE RECORDED THE CALL LOL
STAY AWAY FROM YES LOANS
:mad:

Bob_Jones_2

I am amazed that people are still handing over fees to brokers.

There are so many alternatives out there. If you need a broker to assist you then dont go to one who charges a fee. Especially a broker whos "managers" have allegedly been banned from being directors in the UK.....

varunrdas

Stay away folks.. had my 67.50 taken a month ago with regards to a loan of 3000.. now they are nowhere to be heard.. just informed with the OFT.. hope something should happen!