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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