I applied for a loan with YES loans who do not tell you at the time that they are brokers, but they arrange loans for all purposes for all types of credit history.
On application they charge you 69.50 for administration fees. Once they have charged you this (takes 2 seconds to disappear from your account) they send you through all their documentation. After 1 month and hearing nothing, I called them to get an update. They told me they needed a more detailed credit history and wanted specific amounts owing on any current loans/finance. As I didn't have any documents with me I couldn't provide this, so I was cut off.
I rang again, the advisor takes your initial details and tells you that they are putting you on hold. Once they put you on hold, you end up back in the first queue having to explain to another advisor you were previously speaking to someone, giving your details again and being put on hold again to be put back in the queue AGAIN. This happened 5 times, to which I then told them I was cancelling my application and wanted a refund. They told me to put it in writing.
I sent my letter dated 23rd March and recieved a letter on 27th March stating my account would be refunded in 10 working days.
On the 28th April, I still hadn't recieved refund so I called them - only to be told it was a printing error and it should say refund in 28 days! So where is the letter or email explaining that a mistake had been made??? I called them again later and spoke to a different advisor who then told me it was 30 days!! Changes everytime you phone. I told them I was taking all documentation plus their letter to trading standards as it is misleading, untrue and no effort had been made to rectify this.
After being put throught o a so called manager, she apologised for the "printing error" and said it would be a further 7-10 days before I recieved my refund!! Unreal. I stated that although the first letter was a blatant lie (10 working days) even 28 days had lapsed between 23rd March and 28th April. She said that they didn't recieve my letter until 2nd April - so how did I recieve their letter on the 27th March?
I later went on to their website that states "If You wish to cancel your application, You must write to Yes Loans Ltd notifying us. In this event We will refund your fee within 30 days of the date on which You write to Us to cancel your application. Any such requests should be made to: Customer Service Department, Yes Loans Ltd, Tintern House, William Brown Close, Llantarnam Industrial Park, Cwmbran, NP44 3AB."
This reads to me as 30 days from the date which my letter was written (23rd March), so is this another printing error or are they going againdt their own terms and conditions and making it up as they go along? Will I ever recieve my refund??
I am not the only person who has been stung after reading a report by The Mirror, there are a lot of people who haven't recieved refunds, funds from agreed loans or have been fobbed off.
Unfortunately you are charged the fee before recieving the documents so you can't opt not to pay until you've read everything through.
BE CAREFUL OF YES LOANS, WHO ARE ACTUALLY OWNED BY A PERSON WHO WAS BANNED 10 YEARS FROM BEING A COMPANY DIRECTOR!!!
Sian, prestatyn
Prestatyn
United Kingdom
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