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Comments:
I want the whole of the uk to know what an awful company this is! I do not know how anyone working for that company can sleep at night,knowing they are ripping so many people off. I applied for a loan of 9,000 pounds with a repayment of 207 per month,they hounded me every day to actually send the paper work back. When i payed the registration of 59 pounds,i happened to come across this site,and read all the negative comments, So i tried to cancel the fee,what a bloody nightmare that was,they would not let me cancel it,they kept passing me about from one person to the next,when infact they had already taken my money,and where trying to take more using my debit card details,i spoke to my bank,and they said they had recieved so many complaints about this company it was scary! I reported them to trading standerds and i hand to cancel my debit card. I will never see that 59 pounds i just know it.
Yes Loans dont tell you they are a broker.I called them on the phone, asked for a loan, they went away then came and said i had been accepted.
They sent me the agreement forms which I filled out and sent back. About 5 days later I get a call from a loan company saying that yes loans had contacted them and they needed my details.
With all these other complaints I dont see why the trading standards havent looked into this company. Not only that I keep getting calls from loads of loan companies.
Yipeeeee! Ive just received a refund from Yes (should be called 'no' loans) loans.
I actually applied for two loans at the same time over 8 months ago and have been trying to get a refund ever since. Its the usual story of being told Ive been accepted, but nothing ever came of that lie, other than the loss of my £99 (for the two loan applications).
Today I received an apology (I couldnt believe it either) and a cheque for the FULL amount (including the £5 they say would never be refunded?!??).
How did I do it? I simply called (after months of numerous phone calls, recorded letters, emails etc) the Financial Ombudsman Service on 0845 060 1800. They listen to your complaint, give you a reference number and tell you they will write to Yes Loans about your complaint on your behalf. They then write to you confirming the complaint and reiterate the ref number. You then send Yes loans another recorded letter with the FOS ref and hey presto! I (you will too hopefully) got my complete refund!!! Good luck everyone. I soooo hope this company is stopped soon from conning people out of their money.
guys i wish i didnt sign the paperwork to allow to credit check me. I have just looked at my experian report and since I signed 10 days ago they have credit checked me 7 TIMES! No wonder they give such high %APR as they make ur score go rock bottom....trying to get through now to get them to stop - how can the government allow them to continue?
Dear god what was i thinking, this company has been giving me the run around since i foolishly handed over my hard earned money. with promises of loans and an agreed payment set up they led me to never never land and dumped me in mugsville, with excuse after excuse they left me waiting. finally having to phone them on their super loan tracker service i.e. you ring a premium 0871 number and they put you on hold for 20 minutes and they tell you tall tails of lost information or the lenders opening hours are differant. I can't complain about the service though you actually have to have a service for that to apply, for shame this company they lead you down a golden path just to push you in an ally to mug you. And as for the so called ex employees berating the wonderful services, how about them handing you the money which has been ransomed from us.
Terrible company! I only called for a quote and foolishly gave my card details as I had been assured no money would be taken until I returned the signed form (which I was led to believe would contain a breakdown of what I was being offered)after agreeing to the loan and that they only needed my details to prove I had a bank account. Of course the money was taken less than an hour after my conversation! Not amused I called them as soon as I found out only to be told I would have to write to get my money back and they still tried to sell me a loan! This I did giving them a week to return my money after which I would take legal advice. I got my money back within the week! I was shocked too!!!! I'm writing this for anyone who is still owed money by this awful company. Dont phone, it costs a bomb and you won't get anywhere. Send a letter recorded delivery explaining your problem and demand your money back. Included any names of people you've spoken too and when. Also ask for the recordings of your calls to them (if you've made any), as this is proof of what they've told you should you need to take the matter further. Don't give up, thats what they want. Your local C.A.B will be able to help you should all else fail. Good luck to all who've suffered, I hope this helps a bit.
(I didn't take the loan by the way)
It is imperative that everyone who has these terrible experience with this awful company, writes to the likes of watchdog, as they WILL take action and investigate. Also the company is governed by the FSA so complain to them and the Financial ombusdsman. They will adivse you how to get your money back. This you will find if you mention to the management of yes loans will make them pay you back immediatly what is owed, just make sure you take full names and times of who you speak to. A search on this company on the internet ownership will give you a bit more information on this company and may raise a few eyebrows.
hi im another idiot i paid yes loans £49 27 sep 07. after this long i still have no loan. im in the process of trying to get my money back and they keep saying the havent recieved my emails. so yes i will be emailing watchdog too. i could have paid a adifferent bill with that 50 quid
What a mug I am, I fell for the Fast talking sales man on the phone who said i had got the loan for £1500, I even asked again to confirm that i had been accepted, He said yes, And I gave him my card details and they took £49.50 from me for "admin",My paper work would be with me soon and the money would be into my account in 4-5 working days, Then he pasted me on to someone else who tried selling health insurance,
No forms have arrived yet and no money been recived,Not sure how much the 0871 number was costing me BUT I've found a uk landline number for yes loans 01633 712712 ask for yes group and its cheaper.I've e-mail bbc watchdog and if everyone else e-mails watchdog they may investagate.
BE WISE & STAY AWAY FROM THIS COMPANY!
They charge you around £50 to then basically tell loan companies about you who will then most likely (if you have bad credit) turn you down. There is one guy below who says that he was given a loan which may of course be true if his credit was not that bad. He also points out that the terms & conditions are not that small which is also true and this would be fine if the company did not press you into paying over the phone before you even recieve them.
However for those of us is serious financial difficulty trying to get our heads above water, these people are using a fast talking sales technique and wording which "sounds" as though you have been excepted for a loan, to simply set you up to be let down repeatedly just as we were by our own banks.
I have also been informed that each time you are turned down by for a loan it goes against your credit rating, so they may actually be crippling your chances. The sales people who work on the phone lines have no excuses and should feel ashamed of their actions.
If I find the right contacts to report this company to so they can be fully & fairly investigated then I will let you all know. I would suggest everyone write a letter reflecting their own issues with the business. Thank goodness for sites like these as I have now thrown my application away. I wish those of you looking for financial assistance all the best. Good Luck!
I think I've got the worse part of Yes Loans yet to be honest.
So a few weeks ago, I was looking for a loan to look to consolidate all my debts into one monthly payment, but my credit rating isn't so grand at the moment.
I contacted yes Loans, and the chap on the other end spoke so fast it was hard to keep up with him, but he said that I had been accepted as a client and that everything should be fine.
The next day I received the paper work and it mentioned that I had to pay a fee, I phoned up quierying this and they informed me that if I decided not to take out a loan, they would refund the fee. I was able to get a friend to sub the fee for me, and shortly afterwards I lost my job.
Guess where I found a new job? That's right.. Yes Loans... wow! I sat through a week of training that teaches you how to blag customers, and tells you all about how the company works.. so if you've paid your fee and you ask for a refund, they can take up to 6 months to refund your money. SIX MONTHS!
Alarm bells startted ringing, becuase obviously I was a client of this company and an employee and already I was starting to dread the place.
I was put on the phones on the outbound section of Yes Loans, contacted people who have made some form of financial query within 6 months, to try and talk them into taking out a loan.
I have been taken aside several times and been told that I am too nice to the people I talk to, becuase I don't push them into anything or make them pay a fee up front.
I plan on leaving the firm tomorrow becuase everything they do goes against my ethics, and the fact that they even swindled me makes me even more annoyed.
Yes Loans is not only a terrible company to deal with as a client, it's also a terrible company to deal with as an employee, they will treat you terribly and make your life rubbish.
I'd like to say a big thanks to everyone who has mentined this company. I had just applied for a small loan from them, they said Once they had recieved my fee it would take 4-5 working days for the money to be in my account. They were not to take any money out of my account until Monday ad after getting suspicious about this "fee" I decided to look it up and found this site. I have now cancelled my application and no money will be taken out. Thanks to all.
BEWARE!!
I just want to say PLEASE be very wary of this company. I have had bad dealings with them.Everything i wanted to write was libellous!! So just dont end up like the majority of people on here.
i have just rung to cancel my application with yes loans after reading so many bad reviews online. i am really worried about getting my admin fee returned now. when i was called by yes loans and offered a loan after they got my details from somwewhere, i was very much under the impression that i would be recieving the loan within 3-4 days. i was listening really carefully to what i was being told on the phone, as i used to work for a sub prime credit card company and know how they can get you with all the babble u dont quite hear. i asked if this meant i had been accepted for a £2000 loan which i was told would be paid back £78 a month over 3 years. i was told this was guaranteed, i was also guaranteed i would recieve a refund of my fee if i did not obtain a loan from them. i checked this for a purpose and have now realised that it wasn't the truth anyway! i made the mistake of paying over the phone as they said it would make it go through more quickly. they debited this from my account instantly so now im stuck! i cant believe companies like these are legally allowed to operate! as for the small minded employees who have made comments, im sure if the tables were turned and they had £50 taken off them their opinions may not be the same! i have my fingers crossed now to get my fee back!
i got a call from yes loans claiming that they had been given my details from a credit card application i had made a couple of weeks earlier, they offered me a £4000 loan over a period of four years for just over 100 pounds per month, i have a really bad credit history so was overly suprised by the offer, i then gave them my bank details and personal details, but they didnt know he APR when i asked, he simply said "oh, i dont have that info in front of me ay the mo" which made me a little sceptical, and after researching the company i found sites such as Blagger, yes need to be closed permanently to prevent them taking this "handling fee" of £49.00 off anyone else, how are people supposed to stay out of debt when companies like Yes alledgedly throw money at you, !!
I'm so glad sites like this exsist, I don't have bad credit but have a few credit cards I want to consolidate but at 22 regardless of how good your credit history its hard to get a loan for £12k after being rejected by the AA they put me through to Central Capital who clearly stated they were a brokers & got their fee form the lenders rather than me, sadly they were unable to help so back to paying 3-4 bills rather than 1! However I receive 3 missed calls from 0845 300 5044, they finally got hold of me this evening. Yes loans went through my details although I was hesitant to give them my bank details not having even heard of them but she said it was my right to hold this info back for now, so I did. She then told me I had been ACCEPTED at monthly repayments of £394 a month for 3 years so not a bad APR either, I then asked if that rate was definite and she said yes as long as the information I'd provided was correct I'd been accepted at those monthly repayments I was thinking wow thats great, then in a very fast spoken sentence she mentioned the word lenders (which then indicated to me they were a broker!)and the fact I had to pay £49.50.. then I started to think con! I asked for that in writing before I was willing to hand over my card details, upon putting the phone down the first thing I thought i'd do is check the net and found this site almost straight away, thank god I did, sod off am I going to use a broker that seems to have had a slow response rate in regards to refunds and charges £50 to reject you or accept you at a much higher APR than quoted! If you don't mind going down the broker route a decent broker will get their fee from the lender rather than the customer anyway.. so i'd say stay well clear and I'll be putting the paper work straight in the bin when it arrives.
Yes Loans are NOT a loan company, they are a loan broker, and they will pass your details on to dozens of sub-prime lenders who will all conduct searches on your credit record. If you are lucky you may get offered a loan with an APR below 55%, but that’s unlikely.
2. However, if you have already parted with your hard earned £49.50 and now realise that Yes Loans are con merchants and are having the usual trouble getting them to refund the money please read on.
A family member contacted Yes Loans. They called her back and got her to send them £49.50. No paperwork was ever sent. Offers of loans started arriving, including one for an impressive 68% APR. At this point she and I worked out there was a much better way to sort out her finances than a sub-prime loan. She called Yes Loans (15 – 20 minutes on hold on a premium rate number) and told them that their services were no longer required and asked how to get her money back. They said that all she had to do was write and ask.
She wrote and asked, sending the letter by recorded delivery�. No response.
I followed the letter up with an email� No response.
Yes Loans then called her to ask about the progress on the loan that, “she wanted”. After a while she managed to get the Yes Loans agent off of her script and tell her that the loan was no longer required and that she wanted a refund. “You need to write to us and ask”, when told that a letter was already written Yes Loans claimed to have not received the letterâÂ?¦ this changed to, “Oh yes we have the letter” once it was pointed out that the letter was sent recorded we had proof of receipt. The agent then transferred her to the department that issued refundsâÂ?¦ 25 minutes on hold followed before the call was terminated.
I called Which Legal Services (as I am a member). They told me this was a case of breach of contract and advised that a final letter be written giving Yes Loans a set amount of time to refund the money (using the phrase, “Time is of the essence”) after which legal action using the small claims process of the County Court would begin without further notice. This letter was sent recorded deliveryâÂ?¦. No response.
This is not surprising. After all, how many times must Yes Loans hear this threat every week?
Log onto https://www.moneyclaim.gov.uk/csmco/index.jsp Follow the instructions write up your case and for a cost of £25, have court papers served against Yes Loans. Be sure to look up Yes Loans Ltd registered address in the FSA Register http://www.fsa.gov.uk/register/home.do we did this and have now received back from Yes Loans the original £49.50 admin fee and the £25 court fees. The case didn’t go to court, Yes Loans caved in before they ended up with a County Court judgement against them.
Don’t bluff with these people, it doesn’t work. Threaten legal action but then carry through with the threat if needs be. It’s easy and straight forward and for us at least, it worked. If you need more details or the email addresses for Yes Loans' General Manager just ask.
Yes loans totally done me too. I was told over the phone that my loan had been accepted. They gave me a repayment amount, APR and loan period. They said NOTHING about being a loan broker. I was told that the £50 charge was to speed out them paying the loan. These people think they are covered because they claim they slip in a phrase somewhere in the conversation about being a loan broker. (Not that I remember their representative saying this) I'm sure if any reasonable person listened to their conversations with customers, it would be clear that they try to imply that there are offering you a loan. This is blatent mis-selling.
Anyway, I wrote them a harsh letter saying I was going to proceed with a small claim against them for my £50 interest and costs, and that a copy of my letter was sent to the Financial Ombudsman. Got my £50 back within 2 weeks. ;-)
I was looking for a loan and saw yes online so i aplied and was told i was accepted could i pay a processing fee of £50.00 it wasnt until the paperwork arrived that i discovered in fact they were a broker not a loan company as they claim .Since then i have had 20 text messages from them im getting about 5 phonecalls a day which in my opinion is harresment .It is one of the worst companys i have ever had to deal with dont use these people.
Ok! i've seen a few message's on this forum with some former employee's defending yes loans, in there business, and trying to point out to the consumers (you guys) that your stupid and don't listen properly. Now yes im going to defend them in a way but not to the point in telling you lot, that your stupid etc. Now i want to justify before anything else, that ok yes loans do employ some t**t's (excuses my language) but there are a few of us good people out there who just try to make a living even if it is working for yes loans. ( As i'm sure some of you college leavers who do a course for 3 year's only to find when you go into the working world none of which the course you studied will employ you because you have no experience in the working environment only the qualifications, Anyway back to the point)When first being in contact with yesloans your greeted by an application agent who if you proceed to go on with the application will ask you a few questions. some of which are are you a homeowner and do you have any contact numbers. After answering them questions they do quote a small paragraph which in states "we will be acting as your credit broker to find the loan for you and your information will be passed on to thrid parties ok?" not the exact context it's in but that pretty much sums it up. Now i know alot of you me myself as when you get some random phonecall from somone and they start reading from a script your sorta turn off and mind focuses on other things while this person is reading away, which is sometimes the cause of people being mislead because they dont listen to the agent speaking, im guilty for it myself. once going through the application they do state you've been approved in principle as a client of yesloans and the example they have in front of them shows if you where to take out X amount monthly repayments would be x amount, as they've said example that doesn't mean that's what they will be.They also state as most financial instutions( excuse my spelling on that one) that they charge a one off fee of 49.50. This is all scripted so they have to inform you of that and give you the choice to either pay today to start the process of your application immediately in which they aim to complete the process in 4-5 working days. It's not int he script to which they say the money will be in your account in 4-5 working days. It Also states in the terms and conditions that they are a credit broker and they act on your behalf to find a loan for you. and also for all these people complaining about getting a refund back, just mention this http://www.bbc.co.uk/wales/x-ray/sites/allarticles/updates/6p20_yesloans.shtml
Thats for the welsh company you mention that to them the customer service may not know but the supervisors do, so if for any reason they state that you have to write in trust me be adamant demand a supervisor and quote what the managing director has said and a immediate refund can be issued. Also to add they dont do credit checks on you and the lender does grant final approval on weather your accepted or not.
i Know ive left it unfinished but i'm quite tired at the moment if you have any queries leave a message on here and ill get back to it asap.
I dont know who these people are saying they dont state the money will be with you within 5 working days?
I have recieved txts off yes loans several times, last thursday to be exact i thaught "why not give it ago and ring them" I phoned and got threw to some girl. She never at any point said nothing about being a credit brokers, she actually answered the phone and said "yes loans" The word "loan" being the key in that sentence.
She adviced me that they dealt with people with bad credit and guaranteed that i would be accepted for a loan.
She took my name, DOB, address, work details etc. She then told me she was going to check my details to see if i could be accepted. She told me after a few mins of a pause id been accepted for the amount £2000 which i need.
She then went threw rates etc i was told a good rate would be 24 months at £138 or something. I then asked if id defo been accepted and she told me yes. I dont have no money till i get payed this friday so she then set up a charge to leave my account this friday. She then told me once id completed the paper work and admin charge i "WOULD" recieve my loan at the agreed rate within 3-5 working days.
Today i recieved the paperwork and 1stly its all wrong, They have the wrong company name for whome i work. The wrong amount of time at my current address etc and then in the agreed tearms box its blank. I realised then that this company are upto something.
I phoned them on the different number in my agreement form. Confirmed details etc. Then i said "i was told id been accepted and would have the loan within 5 days of signing the paper work" the guy confirmed this and said "it usually takes 3-5 working days on recipt of payment and paper work" So then i asked "why in the small print does it say i am paying the £49 souly for admin and credit is still refusable depending after an in debt credit check from your clients"
He then went onto say that they where credit brokers etc. But told me if my details where correct there would be no problem recieving credit within the same time space. This makes no sence, i know i have bad credit thats why i went to them. So i pay £49 to be refused? i mite as well go and burn my money. My details as he put it are all correct and its obvious this company dont check credit levels, also lie by stating they guarantee loans to people with bad credit. Which i have written in black and white. He then told me that yesloans have a 92% success rate with getting credit issued.
Yet it looks more like a 100% bad press. (I did have some comment here but was told to change as it could be liable, amazing a comment can be taken as illegal yet there service cant) Im glad i found this forum before i signed and sent the paperwork back off.
One other thing they need to change there name from "yes loans" to "yes credit brokers"
I have just come across this site and am gutted I didn't find it 3 weeks ago.
I contacted Yes Loans and was told I had been accepted as a customer of them and that if I paid the £49.50 fee they would guarantee a loan of £1500 would be paid into my bank account within 5 working days. I checked and double checked with them that my loan was guaranteed and I would definteley receive the money. I was assured that I would. I was also assured my fee would be fully refundbale should anything go wrong. I then received dozens of calls from companies I have never heard of thanking me for my application but saying they could not provide me with a loan. 3 weeks after my initial enquiry with Yes Loans and after paying the fee, I received a letter from them stating a company called FLM hadaccepted my loan, if I had a guarantor. As I do not have a guarantor, I immediately tried ringing Yes Loans for a refund. It has taken me 5 days to get through and I have just spoken to a girl who advised they have not yet received my letter requesting a refund (was only sent yesterday so will give the benefit of the doubt) but when it is received, someone will contact me to sort out the refund. I asked how long this would take and was fobbed off by being told a different department deals with the refunds. When I asked to speak to this department, I was told there was no direct phone number and I couldn't be passed through!!!
This company is a sham. I cannot afford to be throwing around £50 fees to receive nothing in return. If anyone knows how I can get my money back easily, please let me know!!!!
In the meantime, I would advise anyone to steer clear of this company and the hundreds out there asking for an upfront fee.
I always thought I was quite sensible and not gullible, clearly I was wrong. For your sakes, please do not get caught out like me. Losing this £50 has put me in an even worse position than I was when I was struggling 3 weeks ago.
Hmmm, who thinks that "ehd" works for this excuse for a company :
ppl learn how 2 read and listen i got a loan off them from welcome finance and i cant faul it yeah the apr is high but it got me outa trouble and if u ppl read the contract u will understand it more so look closer 2 home 4 blame coz its U who r at fault read all the small print people dont b daft its small so u wont read it lol
ehd at 16th Oct 2007, 11:08AM
This person is either illiterate or simple, just the qualities needed for an employee to work for these people.
I applied for a loan with them in 2005 at the tender age of 18, and having only a basic credit rating, it was difficult to get a loan from anyone.
So, i gave my trust to this compnay. it was all happy happy while they were recruiting me, getting my money and such like. gave them the money over the phone and expected to get the £2000 they offered me within 5 days (hmmm, deva vu).
Two weeks passed and I must have had no less that 30 calls off loan compnays, each one doing a credit check on me and then refusing. At this time I didnt know that a credit search would lower your credit even more.
So, i'd been 18 for just over a month and already my credit rating was shot completely (im still unable to get a thing, not even a bank account with an overdraft, it will take me god knows how long to build it back up ), and still without a loan. What nice people they are.
Two years on, I have STILL not a loan! Luckily, I have a mum who bailed me out and I managed to aquire the funds I needed for the purpose, so I wasnt as up the creek as some of you were.
If you are an employee for this compnay, I would like to know how it is you sleep at night. You can't get paid enough to ruin peoples lives, but you lot manage quite well. As if at the time its not bad enough, I now have you lot to thank for an abysmal credit rating and an inablility to obtain any kind of credit.
Bugger, I should have checked this out before I paid the £50 admin fee.
They told me I had definitely been accepted at a rate of 13% which I though was ok, and when I called the next day if there was anything to do to speed it up, they said I could pay the fee to start the process straight away before the details came in the post.
I like the way they ask you for all your details etc, and then pause for a few seconds to make you think they are doing a credit search on you. Then you get a 'you have been accepted'. They obviously don't check anything. This is blatent mis-selling.
I won't even bother with a call to get the fee back, just going to send a harsh letter to them copied to the trading standards
Add a comment about this blagger
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Comments:
They sent me the agreement forms which I filled out and sent back. About 5 days later I get a call from a loan company saying that yes loans had contacted them and they needed my details.
With all these other complaints I dont see why the trading standards havent looked into this company. Not only that I keep getting calls from loads of loan companies.
I actually applied for two loans at the same time over 8 months ago and have been trying to get a refund ever since. Its the usual story of being told Ive been accepted, but nothing ever came of that lie, other than the loss of my £99 (for the two loan applications).
Today I received an apology (I couldnt believe it either) and a cheque for the FULL amount (including the £5 they say would never be refunded?!??).
How did I do it? I simply called (after months of numerous phone calls, recorded letters, emails etc) the Financial Ombudsman Service on 0845 060 1800. They listen to your complaint, give you a reference number and tell you they will write to Yes Loans about your complaint on your behalf. They then write to you confirming the complaint and reiterate the ref number. You then send Yes loans another recorded letter with the FOS ref and hey presto! I (you will too hopefully) got my complete refund!!! Good luck everyone. I soooo hope this company is stopped soon from conning people out of their money.
for anyone like me who is sick and tied with these guys this is a email addy for them
regards john
(I didn't take the loan by the way)
No forms have arrived yet and no money been recived,Not sure how much the 0871 number was costing me BUT I've found a uk landline number for yes loans 01633 712712 ask for yes group and its cheaper.I've e-mail bbc watchdog and if everyone else e-mails watchdog they may investagate.
They charge you around £50 to then basically tell loan companies about you who will then most likely (if you have bad credit) turn you down. There is one guy below who says that he was given a loan which may of course be true if his credit was not that bad. He also points out that the terms & conditions are not that small which is also true and this would be fine if the company did not press you into paying over the phone before you even recieve them.
However for those of us is serious financial difficulty trying to get our heads above water, these people are using a fast talking sales technique and wording which "sounds" as though you have been excepted for a loan, to simply set you up to be let down repeatedly just as we were by our own banks.
I have also been informed that each time you are turned down by for a loan it goes against your credit rating, so they may actually be crippling your chances. The sales people who work on the phone lines have no excuses and should feel ashamed of their actions.
If I find the right contacts to report this company to so they can be fully & fairly investigated then I will let you all know. I would suggest everyone write a letter reflecting their own issues with the business. Thank goodness for sites like these as I have now thrown my application away. I wish those of you looking for financial assistance all the best. Good Luck!
So a few weeks ago, I was looking for a loan to look to consolidate all my debts into one monthly payment, but my credit rating isn't so grand at the moment.
I contacted yes Loans, and the chap on the other end spoke so fast it was hard to keep up with him, but he said that I had been accepted as a client and that everything should be fine.
The next day I received the paper work and it mentioned that I had to pay a fee, I phoned up quierying this and they informed me that if I decided not to take out a loan, they would refund the fee. I was able to get a friend to sub the fee for me, and shortly afterwards I lost my job.
Guess where I found a new job? That's right.. Yes Loans... wow! I sat through a week of training that teaches you how to blag customers, and tells you all about how the company works.. so if you've paid your fee and you ask for a refund, they can take up to 6 months to refund your money. SIX MONTHS!
Alarm bells startted ringing, becuase obviously I was a client of this company and an employee and already I was starting to dread the place.
I was put on the phones on the outbound section of Yes Loans, contacted people who have made some form of financial query within 6 months, to try and talk them into taking out a loan.
I have been taken aside several times and been told that I am too nice to the people I talk to, becuase I don't push them into anything or make them pay a fee up front.
I plan on leaving the firm tomorrow becuase everything they do goes against my ethics, and the fact that they even swindled me makes me even more annoyed.
Yes Loans is not only a terrible company to deal with as a client, it's also a terrible company to deal with as an employee, they will treat you terribly and make your life rubbish.
Say 'NO' to 'YES' Loans.
I just want to say PLEASE be very wary of this company. I have had bad dealings with them.Everything i wanted to write was libellous!! So just dont end up like the majority of people on here.
Yes Loans are NOT a loan company, they are a loan broker, and they will pass your details on to dozens of sub-prime lenders who will all conduct searches on your credit record. If you are lucky you may get offered a loan with an APR below 55%, but that’s unlikely.
2. However, if you have already parted with your hard earned £49.50 and now realise that Yes Loans are con merchants and are having the usual trouble getting them to refund the money please read on.
A family member contacted Yes Loans. They called her back and got her to send them £49.50. No paperwork was ever sent. Offers of loans started arriving, including one for an impressive 68% APR. At this point she and I worked out there was a much better way to sort out her finances than a sub-prime loan. She called Yes Loans (15 – 20 minutes on hold on a premium rate number) and told them that their services were no longer required and asked how to get her money back. They said that all she had to do was write and ask.
She wrote and asked, sending the letter by recorded delivery�. No response.
I followed the letter up with an email� No response.
Yes Loans then called her to ask about the progress on the loan that, “she wanted”. After a while she managed to get the Yes Loans agent off of her script and tell her that the loan was no longer required and that she wanted a refund. “You need to write to us and ask”, when told that a letter was already written Yes Loans claimed to have not received the letterâÂ?¦ this changed to, “Oh yes we have the letter” once it was pointed out that the letter was sent recorded we had proof of receipt. The agent then transferred her to the department that issued refundsâÂ?¦ 25 minutes on hold followed before the call was terminated.
I called Which Legal Services (as I am a member). They told me this was a case of breach of contract and advised that a final letter be written giving Yes Loans a set amount of time to refund the money (using the phrase, “Time is of the essence”) after which legal action using the small claims process of the County Court would begin without further notice. This letter was sent recorded deliveryâÂ?¦. No response.
This is not surprising. After all, how many times must Yes Loans hear this threat every week?
Log onto https://www.moneyclaim.gov.uk/csmco/index.jsp Follow the instructions write up your case and for a cost of £25, have court papers served against Yes Loans. Be sure to look up Yes Loans Ltd registered address in the FSA Register http://www.fsa.gov.uk/register/home.do we did this and have now received back from Yes Loans the original £49.50 admin fee and the £25 court fees. The case didn’t go to court, Yes Loans caved in before they ended up with a County Court judgement against them.
Don’t bluff with these people, it doesn’t work. Threaten legal action but then carry through with the threat if needs be. It’s easy and straight forward and for us at least, it worked. If you need more details or the email addresses for Yes Loans' General Manager just ask.
Anyway, I wrote them a harsh letter saying I was going to proceed with a small claim against them for my £50 interest and costs, and that a copy of my letter was sent to the Financial Ombudsman. Got my £50 back within 2 weeks. ;-)
Thats for the welsh company you mention that to them the customer service may not know but the supervisors do, so if for any reason they state that you have to write in trust me be adamant demand a supervisor and quote what the managing director has said and a immediate refund can be issued. Also to add they dont do credit checks on you and the lender does grant final approval on weather your accepted or not.
i Know ive left it unfinished but i'm quite tired at the moment if you have any queries leave a message on here and ill get back to it asap.
I have recieved txts off yes loans several times, last thursday to be exact i thaught "why not give it ago and ring them" I phoned and got threw to some girl. She never at any point said nothing about being a credit brokers, she actually answered the phone and said "yes loans" The word "loan" being the key in that sentence.
She adviced me that they dealt with people with bad credit and guaranteed that i would be accepted for a loan.
She took my name, DOB, address, work details etc. She then told me she was going to check my details to see if i could be accepted. She told me after a few mins of a pause id been accepted for the amount £2000 which i need.
She then went threw rates etc i was told a good rate would be 24 months at £138 or something. I then asked if id defo been accepted and she told me yes. I dont have no money till i get payed this friday so she then set up a charge to leave my account this friday. She then told me once id completed the paper work and admin charge i "WOULD" recieve my loan at the agreed rate within 3-5 working days.
Today i recieved the paperwork and 1stly its all wrong, They have the wrong company name for whome i work. The wrong amount of time at my current address etc and then in the agreed tearms box its blank. I realised then that this company are upto something.
I phoned them on the different number in my agreement form. Confirmed details etc. Then i said "i was told id been accepted and would have the loan within 5 days of signing the paper work" the guy confirmed this and said "it usually takes 3-5 working days on recipt of payment and paper work" So then i asked "why in the small print does it say i am paying the £49 souly for admin and credit is still refusable depending after an in debt credit check from your clients"
He then went onto say that they where credit brokers etc. But told me if my details where correct there would be no problem recieving credit within the same time space. This makes no sence, i know i have bad credit thats why i went to them. So i pay £49 to be refused? i mite as well go and burn my money. My details as he put it are all correct and its obvious this company dont check credit levels, also lie by stating they guarantee loans to people with bad credit. Which i have written in black and white. He then told me that yesloans have a 92% success rate with getting credit issued.
Yet it looks more like a 100% bad press. (I did have some comment here but was told to change as it could be liable, amazing a comment can be taken as illegal yet there service cant) Im glad i found this forum before i signed and sent the paperwork back off.
One other thing they need to change there name from "yes loans" to "yes credit brokers"
I contacted Yes Loans and was told I had been accepted as a customer of them and that if I paid the £49.50 fee they would guarantee a loan of £1500 would be paid into my bank account within 5 working days. I checked and double checked with them that my loan was guaranteed and I would definteley receive the money. I was assured that I would. I was also assured my fee would be fully refundbale should anything go wrong. I then received dozens of calls from companies I have never heard of thanking me for my application but saying they could not provide me with a loan. 3 weeks after my initial enquiry with Yes Loans and after paying the fee, I received a letter from them stating a company called FLM hadaccepted my loan, if I had a guarantor. As I do not have a guarantor, I immediately tried ringing Yes Loans for a refund. It has taken me 5 days to get through and I have just spoken to a girl who advised they have not yet received my letter requesting a refund (was only sent yesterday so will give the benefit of the doubt) but when it is received, someone will contact me to sort out the refund. I asked how long this would take and was fobbed off by being told a different department deals with the refunds. When I asked to speak to this department, I was told there was no direct phone number and I couldn't be passed through!!!
This company is a sham. I cannot afford to be throwing around £50 fees to receive nothing in return. If anyone knows how I can get my money back easily, please let me know!!!!
In the meantime, I would advise anyone to steer clear of this company and the hundreds out there asking for an upfront fee.
I always thought I was quite sensible and not gullible, clearly I was wrong. For your sakes, please do not get caught out like me. Losing this £50 has put me in an even worse position than I was when I was struggling 3 weeks ago.
ppl learn how 2 read and listen i got a loan off them from welcome finance and i cant faul it yeah the apr is high but it got me outa trouble and if u ppl read the contract u will understand it more so look closer 2 home 4 blame coz its U who r at fault read all the small print people dont b daft its small so u wont read it lol
ehd at 16th Oct 2007, 11:08AM
This person is either illiterate or simple, just the qualities needed for an employee to work for these people.
I applied for a loan with them in 2005 at the tender age of 18, and having only a basic credit rating, it was difficult to get a loan from anyone.
So, i gave my trust to this compnay. it was all happy happy while they were recruiting me, getting my money and such like. gave them the money over the phone and expected to get the £2000 they offered me within 5 days (hmmm, deva vu).
Two weeks passed and I must have had no less that 30 calls off loan compnays, each one doing a credit check on me and then refusing. At this time I didnt know that a credit search would lower your credit even more.
So, i'd been 18 for just over a month and already my credit rating was shot completely (im still unable to get a thing, not even a bank account with an overdraft, it will take me god knows how long to build it back up ), and still without a loan. What nice people they are.
Two years on, I have STILL not a loan! Luckily, I have a mum who bailed me out and I managed to aquire the funds I needed for the purpose, so I wasnt as up the creek as some of you were.
If you are an employee for this compnay, I would like to know how it is you sleep at night. You can't get paid enough to ruin peoples lives, but you lot manage quite well. As if at the time its not bad enough, I now have you lot to thank for an abysmal credit rating and an inablility to obtain any kind of credit.
SWEET DREAMS.
They told me I had definitely been accepted at a rate of 13% which I though was ok, and when I called the next day if there was anything to do to speed it up, they said I could pay the fee to start the process straight away before the details came in the post.
I like the way they ask you for all your details etc, and then pause for a few seconds to make you think they are doing a credit search on you. Then you get a 'you have been accepted'. They obviously don't check anything. This is blatent mis-selling.
I won't even bother with a call to get the fee back, just going to send a harsh letter to them copied to the trading standards
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