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Yes Loans LTD / unfair trading/ fraud

Cwmbran, Wales, Gwent, GB Review updated:

I approached Yes Loans looking for a loan of £1500, ad was told that yes i was accepted for a loan and that i would need to pay them a fee of 69.50. I signed the forms, I paid the fee and was told my loan would take 4 days to come through. I waited the four days and then rang them only to be told they couldn't help me. I asked for my fee to be refunded, they said yes thats fine butwould you just talk to these guys first, and then put me through to a debt management agency called Moneyworries (who i later find out are in the same building and are owned by the same people). I agree to use Moneyworries and think nothing of it, thinking i would still get my refund of the 69.50.
That was 2 months ago, today i have spoken to Yes loans who tell me i'm not entitled to my £69.50 as i took one of their services i.e Moneyworries and that my moneyworries fee would've been discounted to the value of the yes loans fee. Moneyworries insist it has not been discounted and they have received no money from Yes loans.
Yes Loans tell me i'm not entitled to the money and it is too late to get the discount with moneyworries. Basically Yes Loans have taken my 69.50 as payment for transferring my phone call to someone else probably in the same room, to a company who i could have contacted myself, for the fee of NOTHING. To me this is disgusting behaviour and i believe that take on customers who have no chance of a loan so they can pocket the 'brokerage fee'.
Yes loans are preying on the financially weak.

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Comments

  • Su
      Jan 19, 2009
    Yes Loans LTD - Removing money from my bank without consent
    yes loans
    United Kingdom

    I called yes loans before xmas to get a loan to consilidate, i was told that i could have the loan but needed to pay 59.00 fees which i did, as i have just read i am not the only one and feel cheated and would like my money back

    0 Votes
  • De
      Feb 26, 2009
    Yes Loans LTD - £59.50
    Denzel
    Glasgow
    Scotland, Strathclyde
    United Kingdom

    Does anyone have any advise on getting this £59.50 charge refunded from Yes Loans?

    I have been conned as well, after not going through with there loan offer, and not signed anything, they still took £59.50 out of my account without my authorisation!!!

    They say it'll take 3 months for the refund, but raeding all these forums, doesnt sound like anyone has had a refund, dont know how they are getting away with it...shocking!!!

    0 Votes
  • Sk
      Mar 09, 2009

    Its been 7 months since i sent a letter to them requesting my money back, this is what i was told to do by a refund advisor i got a letter back saying it could take up to 6 months but 7 months later and no money has been payed back into my credit card.

    I dont get why it takes them 2 mins to take the money from you but 6 months + to pay it back.

    Im sure the music they play while you are on hold is delibratly horrible so you`ll hang up after waiting a few mins.

    0 Votes
  • St
      Mar 19, 2009

    i paid the deposit for a yes loan for my wife but they failed to find a loan and offered me debt managment even though the loan was in my wifes name, its now 3 months and i am now considering contacting the police as i believe what they are doing is theft

    0 Votes
  • Cl
      Oct 13, 2010
    Yes Loans LTD - false promises
    yes loans
    United Kingdom
    Phone: [protected]

    i applied to yes loans for help with a loan they accepted me for a 1500 pound loan over 5 years at approx 43 pound per month .They told me i had to pay 69.50 up front which was set up to come out of my account on 30/09/10 subject to me signing a form they were sending me.I never got any paperwork from them and forgot about it untill they took the 69.50 from my account .I rang them up and they said they were sending it out again with 2 loan offers.this was 2 weeks ago and i have still not had anything. i cannot find a direct number for them and i do not have a referance number all i have is a bank statement showing this money going out .

    0 Votes
  • Ni
      Dec 09, 2010
    Yes Loans LTD - False Information & Promises
    Yes Loans Ltd
    United Kingdom

    This is possibly the most appalling service I have ever experienced. When demanding a refund for my set up fee of £69.50, as I cancelled a loan application, I was informed to send a fax and assured that my refund would be in my bank account within 24 hours. After 60 hours the refund was not there and so I called the customer service team (a name that should be 'customer aggravating team'. Having waited yet another 30 minutes to get through I was told that my refund could take up to 30 days. I then asked for an email address to contact them which, reluctantly I was given. It was false! I then asked for a senior member of staff and was told there were none available. I was only offered a customer complaints procedure which meant I had to write in. Do not be fooled by these people. They take money and keep it in their accounts for as long as possible. Quick to take your fee but useless and complete liars when you ask for it back. Write to the Directors which can be found on Companies House. If you have no luck after 8 weeks of complaining go to the Ombudsman.

    0 Votes
  • Da
      Dec 14, 2010
    Yes Loans LTD - Removing money from my bank without consent
    yes Loans Ltd
    tintern house William Brown np443ab
    london
    England, East Anglia
    United Kingdom
    Phone: [protected]

    i applied for loans last few weeks ago and they accept me they said sent me agreement to signed after that they give me money this thinks not happened and they charge me with 69.79 ponds after that they stop to call me . i call them back and i told them i want my money back they don't give me any answer so just i want my money back please thank you

    0 Votes
  • Da
      Dec 14, 2010

    i would like to no what happen with my money

    0 Votes
  • Fr
      Feb 22, 2011

    yes the same thing happened to me

    +1 Votes
  • Bl
      Jul 04, 2011
    Yes Loans LTD - Removing money from my bank without consent
    Yes Loans Ltd
    Tintern house ,Llantarnam Park
    Cwmbran
    Wales, Clwyd
    United Kingdom
    yesloansuk.com

    Following an enquiry about a no credit check loan I was interviewed on the phone where I was told all I need to qualify was to be in full time employment with a current bank account proof of which I had to provide, at no point was I told they were in fact a brokers and they required a broker fee .I was sent agreement forms to sign along with a terms of business sheet .To my horror when a direct debit was returned for my counsil tax on checking my bank details I found £69-50 had been taken from my account.
    I contacted Yesloans and after time I got to talk to a lady who informed me I would have to put a request in writing I told her this was done when I returned my agreement forms unsigned in a pre-paid envelope she insisted no reply had been received and I would have to reapply this I have done twice.I asked for this to be done using the same bank details they used to take it out she informed me details are not retained contravening what it says in the terms of buisness
    "To facilitate us processing payments AND repayments you authorise us to retain your charge credit and debit details"
    I have still not had any joy and as I have had dealings with two other companies who share the same address i.e.MONEYWORRIES and Beneficial Claims I feel I must persue my complaint through the Ombudsman

    0 Votes
  • Bl
      Nov 07, 2011

    Delighted to read in the press Yes loans and their associated rip off merchants are being investigated though this week Ive received a tex from Yes loans asking if I still want a loan and they "NO LONGER CHARGE A FEE" bloody cheek .Im pleased to say I ditched Monneyworries debt management, who were charging me £25/mth, for CCCS who are a charity and dont make a charge Beneficial claims got me into the mess but I didnt get the £800 fee back or the £1500 of charges and intrest my credit card went up while they took 12mths to get nowhere in trying to have it declared unenforcable they assured me I would not be out of pocket .Hope they get whats coming to them

    0 Votes

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