Yes Loans

[callum84]

Hi new to the forum, hope ive put this in the correct place if not appologies.

 

My problem if anyone can help is i applied online for what i thought was a loan from yes loans, everything seemed normal and i received a txt on my mobile saying i had been accepted, shortly after i received a call from them to finalise details, in this call i was quoted my loan amount and chose repayments. I was asked for and paid a 49.50 admin fee which i thought ok considering i would have my loan in a few days.

 

Yesterday i received the paperwork and discovered they are actually credit brokers and would try find me a loan within 6 months, ive never really heard of this before and assumed when they told me i had been approved for my loan and chose my repayments the loan was definate or would never have paid them the fee.

 

I feel cheated as their site and phonecalls lead people to belive they are the lender.

 

Ive not signed the agreement and would like my money back, i phoned them several times but was fobbed off.

 

Whats my rights? considering ive not signed any paperwork and they took the fee off me before i received it

 

Thanks in advance

callum

[make them aktiv runners]

As you have found out they are a credit broker who charge a fee for unguaranteed results.

 

The major problem is the phone call, as they may well claim that you were told the above. Unfortunately without the actual recording it is simply a case of your word against theirs.

 

You will certainly not be the only person to be misled so it certainly worth complaining to Trading Standards (all complaints add up).

 

Hopefully, some-one with more knowledge will be able to add further information.

[davethorp]

Unfortunately you have found out too late about them

 

A quick google before sending the money would have told you all you need to know.

[callum84]

thanks, i really wish i had done a google search now, surely by law i have some kind of cooling off period, the paperwork has not be signed so they have basically took my money with no formal contract.

 

giving me a headache lol

[Dont trust the banks]

Hi, cant be of any piratical help, but you have my sympafee....... They are all pond life!, But getting on to T/S is a good move and maybe a letter to the FSA as well?????

 

Regards Banks.

[Guest nez69]

plenty of the same out there, never send money for anything offering a loan, if they're going to lend you, say £5000 why do you need to pay £50??????????????????????

[callum84]

think this has been resolved, everytime i phoned up, they answer straight away but as soon as you mention the word "refund" you are put on endless hold.

Called their collections department, read the law out to them, demanded an immediate refund and that i do not wish to be put on hold, 2 mins later they were arranging to refund my card.

 

Well hopefully thats the end of that, know not to be so gullible next time.

 

thanks for the help

[gemspan]

hi callum

 

 

exactly the same thing happened to me and the same tactics have been used. what number did u call 4 collections? i have been holding on all day on my mobile 4 them and my bank wont help. they cant even tell me who the money is going to. had to go without food yesterday as they took my last £50 even although i told them on 3 occasions i didnt want 2 go ahead as they were merely brokers. any help would be appreciated.

 

thanks

gemspan

[callum84]

call 0871 282 4444, enter your ref number, dob etc, i think its option 2, then choose the option to pay your admin fee.

Im not sure wether you have signed any paper work yet, if not explain this, and that your in no formal contract with them.

 

It might help to mention you have been in contact with trading standards.

 

Hope all goes well.

 

 

 

Does anyone know if this is covered by the distance selling regulations, i know it dosent cover financial but they are merely providing a service and not finance as such,

 

The key features of the regulations are:

• you must give consumers clear information including details of the goods or services offered, delivery arrangements and payment, the supplier's details and the consumer's cancellation right before they buy (known as prior information)
  
• you must also provide this information in writing
  
• the consumer has a cooling-off period of seven working days.

I also mentioned this to them

[gemspan]

Well Callum, phoned that number and got my money back. Got the runaround last night but spoke to somebody who was really helpful today.

 

Thanks for giving me that number. I would have been lost otherwise.

 

Thanks again

Gemspan

[callum84]

glad that worked for you aswell.

 

well thats the money back in my account today as promised.

 

Will take this as a learning experience