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Hello Everybody
My name is Melody and I'm writing to you from a documentary production company called Screenchannel TV. We're currently making a series for BBC1 about debt and loans. One of the areas that I'm looking into is "advance fee loans," where a company charges a fee for a potential loan, but the loan does not materialise. It would be really useful if I could speak to you about your experience with Yes Loans. It would be great to hear from you. Thank you very much. Melody
This so called company has just took money out of a bank account on the premise of giving a loan ( loan never went into bank).how on earth can they keep getting away with this
hi,i was also sucked in by thees sweet talking robots. some 4mths back this year its cost me £75 so far off my 3phone net work to try and get in touch they put u on hold for 30min a time then cut u off i have been chasing the £69.50 admin fee in which no response from yes loans.i'm on benefits and in debt by £75 it is now taken its strain on my relationship is in tatters.yes loans should be looked into by of/com and trading standers.please call anybody out there can help me get my money back.thanks,
hi i too have been blagged by this company, and im fighting for my money back good way to save phone bills tho, go on to website and right hand side write in as if your applying for a new loan and they will ring u back in 10sec flat :) that way they can put u thro to the right department and ur not paying for call!!! itsannoying being on hold but atleast theyre paying for your call :)
Same story here - spoke to someone about getting a loan, was given a breakdown of my monthly repayments and given the impression that they were providing the loan and was told my fee had been taken out of my account. They didnt even ask! After sending a letter requesting my fee back as instructed I received NOTHING. It has now been about 4 months. I have sent 2 letters, several emails, made several calls (each telling me different things ie."it'll be in the post tomorrow") then I was told it had already been posted out weeks ago and I needed to fax customer services which I did that day. That was 3 weeks ago and still nothing. Dont think I'll be seeing my £69.50 again!
I too have fallen for the broker fee and get a loan con from this company, I also paid out to two other companies one of which did refund the fee. My details were passed to two companies FLM Loans who require a guarantor. and a company who called themselves guaranteed finance company. They wanted me to make my first month repayment of 120.00 via a western union money transfer,to an address in New Delhi India. I was assured that once this payment had been made I would receive my loan amount the same day. Glad to say I am not that naive!!! I could not find any record of this company, and as you can guess cant get through to yes loans. Has anyone heard of this guaranteed finance company?? Has anyone managed to get a loan from a reputable company?? if so please let me know, I am losing patience!!!
they took this 69.99 off me never ever got my £5000 pound loan i have phoned them 23 times sent 2 letter never ever got my money i got told on the phone that i was stupid because i could not read the small print this company should not be allowed to trade
I feel a fool but I too have been mislead and I am down £69.
I filled in the on-line form which stated I had been approve in principle and was contacted shortly after,the guy I spoke to was pleasant and friendly, he went through a few more details and after a few minutes informed me that all was OK to go ahead and that my loan would be over 2 years and the monthly payments would be £64:50 he then stated that there was a one off fee of £69, at this point I was (stupidly) under the impression that a loan had been agreed so I paid the fee. I was then passed on to 2 different people, the last of who started talking about a pay day loan of £300, at this point I got confused, I asked him why they were offering me a payday loan when I had already been approved his reply was "a payday loan would improve my credit rating" I refused this loan and was then informed that I actually had no loan.
I asked for my money back, he transferred me through to another department, I was waiting on the phone for 2 hours, I eventfully gave up. Since then I have have not been successful in contacting Yes Loans. I contacted trading standards and they have advised the best way to try and recover my money.
I just wish I had done some research on yes loans before proceeding, I advise anyone looking for a loan to steer well clear of Yes Loans.
hi applied for a loan on 18/08/2010 was not told they were a broker cancelled by return of post and thought no more about it then on the 28th of august £69 went missing from my bank so i cintacted them and it was yes loans they had stored my card details (which i thought was ileagal) i then phoned them and they said you will have to cancel in wrighting so i did on 2nd of september iv just came off the phone to them they said because iv sent the letter recorded delivery they have a further month ie 2nd of october to refund me so heres hoping seems to me there up to there old tricks again!!!!!!!
Yes Loans.. OMG!!
I have paid my £69.50 and am still waiting for contact from them. I have been trying over a 5 day period to call them and this rate will have to take a loan just to pay my phone bill. They charge 10p a minute and the most time I have waited is 20mins and a message comes on saying that there are over 20 people waiting. I read a comment on here that someone had waited 3 and half hours! and got got cut off.. No hope for me then.
I did however get through to the new applications dept, straight away and asked them if they had an email address and they said not, abit strange in the year 2010 that big company does not have an email address.
I was then put back in the queue and waited for a further 10 mins, before being cut off.
Would advise anyone to stay well clear offf these people..
They preying on people who are in a desparate situation. I wish I read some of the comment on here before giving them my card details..
It's been two months of trying to get my refund of 69.50. I have contacted Yes Loans 6 times by letter & fax. I have tried speaking to Customer Service, but when they hear i am calling about my refund- they either hang up or put me on hold for hours (actually no one ever picks up a call). I contacted my bank and filed a dispute. I contacted Office for Fair Trade and Customer Direct offices. They are all looking into it, but so far no money. I do not loose hope and continue fighting with them!
Yes Loans not only treats customers in a unprofessional, disgraceful manner, breaches their own Terms & Conditions and most of all - Consumer Credit Act - Section 155 according to which we are entitled to a full refund.
What i can only recommend you to do- please file a complaint against them with Consumer Direct (www.consumerdirect.gov.uk). The more people do it, then there is a chance that they will loose their license and will be closed forever.
Thank you and good luck!
A
ASTONISHED THAT THEY ARE STILL TRADING, 1 hr 44mins on hold to talk to customer services. I am taking this further, never in all my life of 47 years have I endured such bully boy tacktics. They promise the earth, take your money and supply you with nothing then deny that they have forced you into anything. Now I have my solicitor looking into the company, I feel they need a severe shot accross the bows and will be contacting the FSA first thing Monday. Can everyone please head this warning, it is a CON.... DONT LISTEN TO ANYTHING THEY SAY YOU WILL END UP OUT OF POCKET BELIEVE ME. LASTLY HAVE ADDED THEM TO THE WATCHDOG SIGHT TO SEE IF THEY WILL INVESTIGATE THE COMPANY FURTHER, ALSO ASKED A REPORTER TO APPLY WITH THEM FOR AN UNSECURED LOAN, LETS SEE IF WE CANT GET THE PROOF REQUIRED TO FLUSH THE BOUNDERS OUT
OMG I wish I had read all of your comments below, still I needed a loan and dont have the best credit rating in the world, the guy said to me congratulations your repayment will be £116.53 per month over 60 months but I need to take an initial admin payment of £69.50, I dont really have this but agreed to pay cause I though hey I have the loan, then I got put through to someone else who tried to get me to claim misold PPI on a previous loan I had in 2005, he then said I will take a payment of £245 to begin your application at this point I though OH NO, I told him I didnt want to proceed with the claim, I then phoned back to be told my loan hadnt been approved and that the payment had already been processed he then put the phone down on me. I have been on the phone on hold this time for 37 mins and really dont know what to do I really need this money back I have already left myself short any help? Thanks
Please please do not take a loan with this company. They initally accept you and take £69.50 full of promise that you will get your £69.50 back if they can't help. They could not help me so I wrote to them, quoting their terms and conditions - sent recordered delivery. On the 31st Day I rang - waited 40 minutes for Customer Services, got through then phone went down. Don't want to bore you, but have been doing this since 2/4/2010 and still cannot get any answers. The staff thinks it a right laugh when you ring back again and again, knowing it costing you a fortune. Don't know where to go from here, but this company has to be stopped preying on vulnerable people, taking their money and receiving no service whatsoever, please don't make the same mistake as me. Looking at all these comments - its happening to a lot of people!!!!
Yes loans are awful, I rec'd a call as had been shopping around looking for a loan and they GUARUNTEED me one I was assured that all I had to do was pay a processing fee of 69.50 and the money would be deposited into my bank account within 5 days, when the money didn't arrive I tried to call them first time I got through i was advised that they were a broker not a loan company which is what I was told by them origianlly and they couldn't actually process a loan at all, it has been over 5 months and I still do not have my money back I have been calling and calling but always end up in a hold queue for over 45min and have to give up because calling them cost a fortune!!!
i was told by yes loans ive been granted a loan off £2000 and id be pying £70 a month back but i would have to pay £69.50 in fees so i said ok not thinking anything off it once id paid the fees they told me that they would then have to find someone that could give me the loan so i was passed here there and everywhere but still no loan yes have ripped me off and its fraud obtaining money by deseption cause they dont do nothing they are con artists
Please please do not use this company they will charge you £69.50 in order to get you a loan and they do not have the licence to do so. It was revoked in June 2008.
If you have been stung as I have there is a freephone number so you dont have to add insult to injury 0800 141 141. Good luck
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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:
My name is Melody and I'm writing to you from a documentary production company called Screenchannel TV. We're currently making a series for BBC1 about debt and loans. One of the areas that I'm looking into is "advance fee loans," where a company charges a fee for a potential loan, but the loan does not materialise. It would be really useful if I could speak to you about your experience with Yes Loans. It would be great to hear from you. Thank you very much. Melody
debtprogramme at 23rd Sep 2011, 09:40AM
hi i too have been blagged by this company, and im fighting for my money back good way to save phone bills tho, go on to website and right hand side write in as if your applying for a new loan and they will ring u back in 10sec flat :) that way they can put u thro to the right department and ur not paying for call!!! itsannoying being on hold but atleast theyre paying for your call :)
I filled in the on-line form which stated I had been approve in principle and was contacted shortly after,the guy I spoke to was pleasant and friendly, he went through a few more details and after a few minutes informed me that all was OK to go ahead and that my loan would be over 2 years and the monthly payments would be £64:50 he then stated that there was a one off fee of £69, at this point I was (stupidly) under the impression that a loan had been agreed so I paid the fee. I was then passed on to 2 different people, the last of who started talking about a pay day loan of £300, at this point I got confused, I asked him why they were offering me a payday loan when I had already been approved his reply was "a payday loan would improve my credit rating" I refused this loan and was then informed that I actually had no loan.
I asked for my money back, he transferred me through to another department, I was waiting on the phone for 2 hours, I eventfully gave up. Since then I have have not been successful in contacting Yes Loans. I contacted trading standards and they have advised the best way to try and recover my money.
I just wish I had done some research on yes loans before proceeding, I advise anyone looking for a loan to steer well clear of Yes Loans.
I have paid my £69.50 and am still waiting for contact from them. I have been trying over a 5 day period to call them and this rate will have to take a loan just to pay my phone bill. They charge 10p a minute and the most time I have waited is 20mins and a message comes on saying that there are over 20 people waiting. I read a comment on here that someone had waited 3 and half hours! and got got cut off.. No hope for me then.
I did however get through to the new applications dept, straight away and asked them if they had an email address and they said not, abit strange in the year 2010 that big company does not have an email address.
I was then put back in the queue and waited for a further 10 mins, before being cut off.
Would advise anyone to stay well clear offf these people..
They preying on people who are in a desparate situation. I wish I read some of the comment on here before giving them my card details..
Yes Loans not only treats customers in a unprofessional, disgraceful manner, breaches their own Terms & Conditions and most of all - Consumer Credit Act - Section 155 according to which we are entitled to a full refund.
What i can only recommend you to do- please file a complaint against them with Consumer Direct (www.consumerdirect.gov.uk). The more people do it, then there is a chance that they will loose their license and will be closed forever.
Thank you and good luck!
A
If you have been stung as I have there is a freephone number so you dont have to add insult to injury 0800 141 141. Good luck
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