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Comments:
i have applied for a loan with yes loans and was told i need to pay a £69.50 fee to 'process'the loan to which i refused as i havent ever had to pay a fee to process a loan i was told by their customer care line that all loan companies charge a fee even the high street banks when i said they dont the person got very argumentative to which i explained i work for barclays and have worked for hbos in the loans department and have applied for loans elswhere like welcome finance they dont charge for this to which he said yes they do i have seen the documents and thats why welcome finance have gone bust this is false dont take their word for it dont give them the money no loan company charges a fee to apply with them dont accept it as they cant take the money from your account if u have refused point blank as it states when u ring that all call are recorded so if u do have the money takin from ur account and you have refused they need to put it back asap. u can get the call and all notes they have on you as data protection says all companies that hold information on you must send it out by law although u may need to pay a small fee this should be refunded once the complaint has been sorted. i know this to be true as i was told by the complaints manager where i work . i hope this helps alot. i have also copied this from their website Fees
10. We charge a fee for providing the service of acting as a finance broker. We specify the fee as part of our communications with You. If You do not enter into a loan offered by a lender or financier within the 3 months We act for You, We will refund the fee less the £5 brokerage fee provided for by the Consumer Credit Act 1974. Refunds must be requested in writing to avoid repayments being sent to a wrong address. To facilitate Us processing payments and repayments You authorise Us to retain your charge, credit and debit card details. If a lender or financier makes You a loan or finance offer, in addition to the fee We may also receive a variable commission from the lender or financier (more detail is available on request) and You agree that We may retain it.
11. If We provide services other than acting as a loan or finance broker, We shall be entitled to charge a fee for those services.
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.
so u should get ur money back within 30 days.the money hasnt been taken from my account yet but i will let u all know if it does as i havent agreed for it to be taken.
Here's what I've been doing after being sent a text by Yes Loans suggesting that I had made an application for a loan, which I had not, and that I could get a call back. So, I texted back 'yes', not long after I received a call, I asked the caller when precisely I had made my loan application, to which, there was no reply, I then asked for my number and anything else to be wiped from thier system, I was put on hold, for 15 minutes, clearly no one was going to deal with me so I hung up. So I texted back for a call back, this happened within 10 minutes at which point I asked them to hang on, and left the phone on the side while I got some wood in, it seemed they were still there after 10 minutes at which point I cut them off. This is extremely good sport and took a couple of days for the penny to drop. if they want to conjure up a fictitious loan application and waste my time then my god I'm going to waste thiers!
I have some valid info on this company that I found on the internet. I too was contacted by Yes Loans but smelt a rat and decided not to go ahead. If you would like the details please email me at michael@michaelrossfilmandtv.co.uk
I have just wasted more time on the phone to Yes Loans. About 6 weeks ago they phoned me as I had ticked some box online while shopping around for a new car, normally I would just out the phone down but as I had just seen a car I liked I thought I would find out what the repayments would be on the amount needed. The chap went though a few details him asked my bank and acount number which I give him so he could continue and get me the info I wanted. At no time did I give him my debit card number as I didnt have it on me. After about ten mins he said congrates the loan had been accepted so I just needed to give him payment of £69.50 and the monies could be transfered into my account. At which point I said No hold on I was just checking how much monthly repyments would be and I would have to think about it. After asking me for the £69.50 many more times I told him to put the details in the post so I could have a good look at them before agreeing to anything. These arrived afew days later. I had a quick look at them, noticed that there was many errors one being my name spelt completely wrong, and put it to one side as I had decided againest the loan for the time being. Then when checking my account I saw the the £69.50 had been taken out so like all of you I phoned, put on hold, cut off, phoned been rude to,(one girl so rude I couldnt believe my ears, when I asked to speck to someone else she just said NO!!) put on hold, cut off. Again they have just promised to sort this matter out within 72 hours. They said I could only listen to the call if I paid £10!! is this legal!! but I will pay it as I know that I never at any point agreed to going ahead with the loan and I want to hear that. Can they take payment when they just had the bank account number?
Another sucker joins the club!! Me , that is.Why oh why did I not find this site before I applied to these bunch of cowboys. I applied for a loan onky to be told that I was accepted. They took my money and guess what? Nothing, Zero. I telephoned them after two weeks and they asked me to hold on for a Manager who never materialised. I have asked them at least ten times to re-imburse me . They then said that they were only a brokerage acting on behalf of loan companies and that the fee of £59.50 was non refundable. I love these kind of people and I wont let go until I get a result so WATCH this space and as Arnie says " I'll be back "
I phoned up yes loans today after finding them on google, cut a long story short I was looking for a way to get an unsecured loan to cover debts I have, yadda yadda same old story. During my conversation with them I also googled them and lo and behold I found this site, I was on hold for something at that point and it only took a few seconds for me to decide to hang up on them. Now heres the thing, firstly I used to work for a charity fundraising company, and because of that I know that if you only provide the 8 digit account number and sort code (wich is actually like an adress of the holding branch for yr account) that technically speaking you should only be able to have money paid in to your account with those details, and secondly I'm so far overdrawn I doubt my bank will let anyone take any money (for the time being) as I've had several direct debits returned recently (hence my needing a loan). I got as far as the whole asking for a fee part but told them I couldnt pay that and I would ask my girlfriend, they said they would like to speak to whoever it was I was going to borrow the fee from and would call me back today to confirm it. Basically im going to the bank now to look at my statements and will eagerly await their call just for the fun of giving some verbal to one of their lackeys (regardless of weather or not any money has been taken) Im just glad I found this site during the phonecall not afterwards. If your thinking of using this company read down, Of all the negative comments posted about them, the majority are well worded, with good spelling and grammar and concise information about what went on, the small number of positive comments are either poorly spelled, lacking in grammar or are from people who work for the company, and theres even one negative comment from an ex employee (about 3 pages in) wich is very enlightening, that details some of their working practices. If you have already called, signed or had any contact whatsoever, good luck. Im considering shifting my account to another bank now pureley to avoid any costs when I do return to the black (Ive already told my bank if they dont stop sending me angry letters ill take my debt elsewhere) and even buying a new sim card as they have my mobile number. Thankyou blagger.com, keep up the good work. Oh and when I know more I'll post another coment about the bank details and weather or not I have actually had any money stolen.
i sent yes loans a letter recorded on 02/09/09 i have not heard a thing from them i have phoned several times and am always held in a queue i believe they are ripping us off, i was told by a guy in applications to go through office of fair trading
I have had several text messages from Yes Loans saying they have received my applioation and to call them back.
Only problem. I haven't asked them for a loan, nor ever will as I am a pensioner. In marketing terms this practice is called 'fishing' for custom and is not allowed under MRSA rules.
I too were fooled into paying £69.99 for the service of finding and securing me a loan, instead they put me in touch with a financial adviser who could sort out debt consolidation. I DID NOT pay the fee for this service.
i have been contacted by a number of people reguarding yes loans i am at the moment preparing county court orders for this company if they wont pay back the fee people then court action is needed to get this sorted. legal1
I wish I had read this site before I responded to a Yes loan email. I was hounded by phone calls and emails after looking into a loan on the Yes loans web site. They talked me into paying a £69.50 arrangement fee over the telephone saying they would find a suitable loan. The next day I felt that I had been bullied into the arrangement and followed the instructions on their paperwork to get the arrangement fee refunded under the Financial Services Regs 2004. Six weeks have now passed and I like so many others have not received the refund. Anyone thinking of taking a loan out with them please go somewhere else!!
I am absolutely appalled by this company I am a single mum with a sick child who I have to stay home and care for 24hrs. I called yes loans as my credit rating is nowvery poor since I gave up my job with the royal mail to become a carer. I needed £1000 to replace my car which has just died and needed it to get my daughter around. I called yes loans and they sounded very sympathetic on the phone and said I could have the money after paying them a fee. I paid the 59.50 and then they said I couldn't have one after all. I was in tears. Good news is I was told about my people loans and received £800 on good terms which I can afford. They did take 2 days to pay out though and I did have to pay their document fee of £35 which they say is standard for arranging it and guess they need to make some money. Anway be careful.
I have been chasing this company for some time as a
legal executive i will not give up if you would like to contact me i will try and help i dont think
i have ever come acccross a company as bad as this for a while my client has tried to contact more times than i have but we will continue as i have said i will not give up these companys are degrading and should be stopped i will do what i can
I only wish I'd have looked on here before responding to Yes Loans email. After struggling to find a loan which I really needed in March of this yaer I called Yes Loans. They convinced me that they could help me & within minutes they'd had £69.50 which I really couldn't afford from me. It soon became apparent that they couldn't help me and despite being promised the return of my arrangement fee several times I still do not have it; nor do I have a loan! Not only that as with others on here I have spent money I cannot afford hanging onto their premium rate so called customer service team. I have been cut off twice and spoken to in a very abrupt and surly manner. Meanwhile Yes Loans profit very nicely from their mistreatment of us turning over £22m per annum in their latest decalred accounts. Hopefully now a few less of us will be caught out as this morning on the BBC news who were featured for dodgy practices but good old Yes Loans. Simply go to the BBC Homepage & type Yes Loans. They were also the subject of Radio 4's Money Box programme today which you can listen to on the BBC i Player.
Also turns out their licence to operate under the Consumer Credit Act of 1974 expired in 4th June 2008 and better still there sole owner Keith Chorlton is still serving a 10 year ban preventing him from being able to operate as a company director of any business for gross misconduct after he was found to be diverting cash from a insolvent company into his personal bank account and falsifying documents. Better still the Office of Fair Trading know all about this and have allowed Yes Loans Ltd to carry on trading and they are a consumer watchdog supposed to be looking after our interests! A PETITION SHOULD NOW BE STARTED TO HAVE YES LOANS SUSPENDED FROM TRADING UNTIL THEY RETURN ALL MONEY THEY OWE TO THEIR CUSTOMERS. IF PEOPLE THINK THIS IS A GOOD IDEA THEN POST HERE.I WOULD BE HAPPY TO TAKE THIS FORWARD WITH THE FINANCIAL SERVICES OMBUDSMAN. At the end of the day it may not get any of us our money back but if it stops some other poor unsuspecting sould fall into the same trap and stops these unscruipious fruadsters from getting their hands on anyone else's cash then we will at least have some consolation!
what a complete waste of space this company is, applied for a loan and made a payment of £69.50 which i was told would be refunded if loan didnt go through, i then decided not to go through with the loan myself due to the research on this site and many others, i have made call after call to no avail all be it on a free phone number (0800141141) or so i thought to be then told when you are put on hold you are being put through to a premium rate number for 30 mins to be then cut off. We all apply for these loans due to financial circumstances not to be able to afford these rediculous charges and premium rate numbers. I think this company needs to be named and shamed in every media way possible it is disgusting how they can treat people like this and possibly get away with it....please please please dont bother phoning this company im sure there are more reputable companys out there
they only say yes to you giving them money which they can cash in on the interest...i do hope by me writing this i save a least one unfortunate person the pains and pressures me and my partner are going through at the moment just to get back £69.50 which i am sure we can all agree is not a hefty sum but it is MY sum that can be of very valuble use to me at this very difficult time.
i too applyed for loan with Yes Loans...i wished i had read your comments 1st....I paid £69.99 and said they would find me a loan, even if my credit history was bad. They have come up with nothing. they took my money and i had to get in touch with them today, they never got in touch with me. please, please do not go with them. they havent sorted anything out for me.
last december,i applied to yes loans for a loan of £2000.within ten days i had the money paid into my accounted by a lender theyhad found for me.obviously,the interest was quite high but i went for it.they had charged me £59.00.
Then in march i went to them again for same amount as i got myself in a mess that needed sorting out immediately.again,i paid £69.99 this time and till this minute,nothing from yes loans.in a given day,over 5 people call me from this company,yet nothing to offer.i have asked them to pay back my fee and they have totally ignored me.i find them quite rude and unprofessional after they have taken your money from your account.been ripped off my companies like mywh loan,loanshoppers,too.people have to be very very careful.loads of illegal things going on out there today.
My boyfriend and i thought about a loan with yes loans and he called up. They asked for his bank details and said they would send out info through the post. When we received the info we decided against the loan because we have a baby and wouldnt be able to make the repayments. We did not sign and return any paper work but weeks later they took £59.50 out of my partners account. Ive tried to call yes loans on many occasions to be put on hold for anything upto 35 mins to be told i cant speak to them even after my partner has given consent. One member of staff even put the phone down on me for asking if they would refund the £59.50. Ive left many emails asking someone to contact us but weve heard nothing despite their aim to reply to emails within 48 hours ive waited 3 weeks with nothing from them. Does anyone have any ides what i can do next?
I have had many problems getting my £54.50 refund owed to me. Their customer service is extremely poor, they cut you off the phone, hang up on you, lie to you and have excuses all the time. Do not ring their premium rate number, call them on: FREEPHONE 0800141141. They will not give you your refund for months, they keep you waiting so that you constantly call them using premium rate number so they make more money from you. They keep your £59.00 fee so they make interest on it! Best thing to do is write to them demanding a refund for the fee, include letter of complaint. If they dont refund/respond to you within 8weeks then contact the financial ombudsman, information is available online. They will then take over your complaint and hopefully get the money you are owed! good luck!
oh and DONT sign any paperwork! return it unsigned
It is not always bad news, as some people here claim, I don’t want to upset things but the truth is Yes Loans or any other company for that matter could not get us a loan , It is our fault and our credit was totally screwed up. We decided on the debt management programme that yes loans offered us Now we have now just got a Mortgage and saved £1000s of pounds something that would have been impossible only a few months ago. We believe patients is needed and speak to them see what they can do to help you.
This may be of some help to you danuta, http://www.oft.gov.uk/shared_oft/reports/consumer_credit/oft301.pdf
now if at this point yes loans are still holding on to your fee, inform the financial ombudsman and the OFT. Hope this helps.
One month ago i apply for loan from yes loans, £25.000 but after they send documents to sign and they no was apr% how much to pay monthly and was £20.000 not £25.000 i call to yes loans for refund because i didin't know about any charge they wanted bank details to pay the £25.000 so i say ok great, after i check my account the was £59.50 payment for yes loans i call and i say why you charge me without my permission and they say we will send you new documents and sign them and return back to us and we will refund you £59.50, i send documents to yes loans for refund 3 weeks and no respond no emails no letters nothing,police should do something about this, how i can get my £59.50?
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Visitors to the site are reminded that the details contained within user comments are uncorroborated and as such should not be read as fact but as the opinion of the person who left the comment.
Comments:
10. We charge a fee for providing the service of acting as a finance broker. We specify the fee as part of our communications with You. If You do not enter into a loan offered by a lender or financier within the 3 months We act for You, We will refund the fee less the £5 brokerage fee provided for by the Consumer Credit Act 1974. Refunds must be requested in writing to avoid repayments being sent to a wrong address. To facilitate Us processing payments and repayments You authorise Us to retain your charge, credit and debit card details. If a lender or financier makes You a loan or finance offer, in addition to the fee We may also receive a variable commission from the lender or financier (more detail is available on request) and You agree that We may retain it.
11. If We provide services other than acting as a loan or finance broker, We shall be entitled to charge a fee for those services.
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.
so u should get ur money back within 30 days.the money hasnt been taken from my account yet but i will let u all know if it does as i havent agreed for it to be taken.
mthoms at 1st Oct 2009, 12:06PM
Only problem. I haven't asked them for a loan, nor ever will as I am a pensioner. In marketing terms this practice is called 'fishing' for custom and is not allowed under MRSA rules.
legal executive i will not give up if you would like to contact me i will try and help i dont think
i have ever come acccross a company as bad as this for a while my client has tried to contact more times than i have but we will continue as i have said i will not give up these companys are degrading and should be stopped i will do what i can
Also turns out their licence to operate under the Consumer Credit Act of 1974 expired in 4th June 2008 and better still there sole owner Keith Chorlton is still serving a 10 year ban preventing him from being able to operate as a company director of any business for gross misconduct after he was found to be diverting cash from a insolvent company into his personal bank account and falsifying documents. Better still the Office of Fair Trading know all about this and have allowed Yes Loans Ltd to carry on trading and they are a consumer watchdog supposed to be looking after our interests! A PETITION SHOULD NOW BE STARTED TO HAVE YES LOANS SUSPENDED FROM TRADING UNTIL THEY RETURN ALL MONEY THEY OWE TO THEIR CUSTOMERS. IF PEOPLE THINK THIS IS A GOOD IDEA THEN POST HERE.I WOULD BE HAPPY TO TAKE THIS FORWARD WITH THE FINANCIAL SERVICES OMBUDSMAN. At the end of the day it may not get any of us our money back but if it stops some other poor unsuspecting sould fall into the same trap and stops these unscruipious fruadsters from getting their hands on anyone else's cash then we will at least have some consolation!
they only say yes to you giving them money which they can cash in on the interest...i do hope by me writing this i save a least one unfortunate person the pains and pressures me and my partner are going through at the moment just to get back £69.50 which i am sure we can all agree is not a hefty sum but it is MY sum that can be of very valuble use to me at this very difficult time.
Then in march i went to them again for same amount as i got myself in a mess that needed sorting out immediately.again,i paid £69.99 this time and till this minute,nothing from yes loans.in a given day,over 5 people call me from this company,yet nothing to offer.i have asked them to pay back my fee and they have totally ignored me.i find them quite rude and unprofessional after they have taken your money from your account.been ripped off my companies like mywh loan,loanshoppers,too.people have to be very very careful.loads of illegal things going on out there today.
oh and DONT sign any paperwork! return it unsigned
or
www.p-e2.com
for free help with this blagger
now if at this point yes loans are still holding on to your fee, inform the financial ombudsman and the OFT. Hope this helps.
Bondy at 14th Jan 2009, 05:43PM
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