yesloans please help me out?

After a lot of bad press recently they have changed their policy on this admin fee, and it can be reclaimed at any point if you are not happy. By all accounts it takes a lot of effort to get through to them - but they will repay.

Avoid this company like the plague. I too needed a loan but had a poor credit rating from a couple of years ago when I had to move house twice in a year and it cost me dearly. I applied online to a broker that advertised loans for people in such circumstances. Next minute I'm being bombarded with phone calls saying I've been approved, but ring this number to give a few more details. The number is always a premium rate one and they keep you talking for 30 minutes which of course means £30. It turns out theyre not a lender either but just another broker and then they say, ring another number for a decision and yes, its premium rate again and still the broker but then they say yes three lenders interested who will be contacting you. Then, you guess it, the so called lenders contact you but they're not lenders, they're just more brokers wanting anything from £49.50 to £100 fee for the privilege of forwarding your details to lenders who might possibly be interested. This is how Yes loans got hold of me. When I said I was not interested at all in paying anything like 50APR they said it would be nothing like that. OK, it was actually 52 APR which works out at an interest rate of 36% still way too high and they still want £100 on top as their fee. Any reputable broker does not ask a fee from the borrower, they get their commission direct from the lender. If you haven't signed an application form, although you appear to have given them your account details, although they shouldn't be able to take money out of your account, I would write to your bank instructing them that on no account should they take out any money if requested by Yes Loans.

by law, by giving them your account number and sort code, you are authorising them to take money out of your account.

i had a similar issue with an insurance company.

phone up yesloans and tell them what has happened, and that you beleive you have been misled, and do not wisht to continue.

if they say they will still charge you the £50.00 then argue it, get as much information about the company as possible, write everything they say to you down.

if they persist in saying theyre going to charge, as to speak to a manager or whoever is in charge, take it higher. dont let these companies bully you.

do whatever you have to, just dont let them win

good luck :)

They can claim that the £50 covers their costs in having someone to phone you and sort out the loan. If you feel you have been unfairly treated, write to them and say so heading your letter COMPLAINT. If they ignore you, or you're not happy with the reply, you can go to the Financial Ombudsman Service. Since it will cost them £300 if you do, they are more likely to give you your £50 back.

No, they wont. I did this with them. Just rip it up and they'll send you a couple reminders but you dont have to do it. They just took your info on the fone and sent you a printed out form for you to check and sign and send back with the money. Theyre cow boys. You dont get the loan and you have to wait 6 months til you can get ur 50 quid back! x

not unless you gave them your card details then they can take money as a card transaction.

just make sure they do not apply for the 50 quid as a direct debt that is how they can get it.

i would ring them and say sorry i have been made a better offer that does not require me to pay them i want to cancel my loan request and ensure you do not take funds from my account

Do not use Yes Loans, they are still under investigation it is a scam they say £50 to find you a loan company if they cant find one they say they refund you the money, but they pick any company, job done £50 please on to the nxt gullable customer

Hi.

No, they can't take your money as far as i am aware.

Never pay a fee for a loan.

Here is a well recommended site for bad credit/no credit check loans with no fees whatsover :

http://ukbestloans.co.nr/

No they can not take your money , I doubt they will because you whould still have to sign an agreement , for the loan

Ring your bank now and tell them not to pay anything to the credit company.