Yes loans

[zappeh]

In October 2007 I applied for a personal loan for £500 through a company called "Yes Loans". I do have a bad credit rating and was expecting a high APR and I was happy with that. After contacting them they accepted me for a loan and wanted me to pay a £50 admin fee (which I paid via debit card) and they sent me the paperwork.

 

I returned the completed paperwork and waited for them. I eventually received a call saying that they actually could not provide me with a £500 loan, and could only arrange a loan of £1000 with a guarantor. It turns out that they do not actually give you the loan, they are a broker. They lied to me by saying I had been accepted for the £500 loan and they now have my £50 admin fee.

 

After weeks and weeks of trying to get hold of them on the phone (endless hold music and being redirected to people who don't exist) I was told to either send an email or write a letter. I sent an email on 5th December which was ignored. I also sent a letter 3 weeks ago which was also ignored (sent recorded so I know they have received it).

 

My question is this: Is this breach of contract? The terms of the agreement upon signing (£500 loan) has been changed by them (£1000). If so, what can I do about it? Can I get my money back through the small claim courts? What are my chances of winning? Does anyone have any other advice?

 

Many thanks.

[JenniBee8]

There have been a lot of posts on here about Yes Loans. If I remember correctly a few people have managed to get the admin fee back but I forget what they did.

 

Hopefully someone will be able to advise you.