Need Help with Yes Loans ***WON***

[autumnlady]

On Friday 13th June I received an unsolicited call from this company offering me a loan. I have NEVER applied for a loan from them and told the man that, he admitted later that he hadn’t phoned it was an automatic dialer that had called me!

 

 

He told me that I had been approved for a loan and I said that I doubted that as I had a CCJ. I put the phone down on this man TWICE and twice he rang me back. I have been very ill of late and was feeling pretty grotty when he rang. He kept asking if I needed some money and I thought it wouldn't hurt to apply and I said that ok I would more to get him off my back than anything else and knowing I would never get a loan because of the CCJ .

 

 

He asked for my bank details and I questioned why he wanted those, he said it was to put the money into my bank 'within 3-4 days'. Twice I asked him if I had actually got a loan and he told me yes the money was there and that I would be repaying the loan of £1500 over two years at the rate of £78.00 per month. He then asked me for my credit card details, I asked why and he said that he was sending me out some forms and that NO money would be taken from my account until I had returned those forms signed to him and that the money was an ‘admin charge, to fasttrack my application’. I wasn't quick enough to realise that if I had a loan as he already stated that he would not need money to fastrack anything!

 

 

Within an hour £59.50 was taken by YES loans from my account. I did not receive the forms until the next day and I have not signed them.

 

I have tried to complain but cannot get through as I have been put on hold for over half an hour and this is to a 0871 number which costs lots of money. If I phone the number for the application line I get straight through but they won’t put me through to customer care.

 

 

This man lied to me, in that he said the money would not be taken from my account until I had returned the form. I feel that his selling was hard pressure (he phoned me three times in total) and that I feel I should be able to get my money back.

 

 

 

I feel very stupid now and not a little angry at myself for ignoring the alarm bells that were going off in my head.

 

 

 

Any advice?

 

 

 

Thanks

[BankChargeSlave]

Since you did give him all your details it seems that he can take money out without your consent whether it is legal or not. Do you have anything written or recorded that you guys agreed on not taking money out of the account before you signed the papers? That could help getting the initial charge back. However for the whole agreement if you already signed I don't see it being possible for you to get back out of it sorry to say. They are very pushy.

[autumnlady]

No I havent signed anything the forms did not come until the day after and he stressed he would not take the money until I had returned the signed form. The form remains unsigned.

[IdaInFife]

Report the transaction as unauthorized. If it was through your bank account them cancel any direct debit. If it was through your card, I would be asking for a new one as only they can stop them selves from taking payment.

 

Return the agreement (take copies if you can) with a letter stating that you do not want their services.

 

idax

[slick132]

Hi AL,

 

Report the transaction as Ida says and make sure the bank knows this money was taken fraudulently and without your authority. Tell them you want the transaction reversed immediately. If the bank or card co need this in writing, confirm with a letter to them.

 

As you have not signed any agreement, there is nothing for you to cancel. Write to YesLoans and confirm you will not be taking any loan from them, quoting their account or reference number. Tell them they have taken money from you without authority and it has been reported to the bank concerned.

 

Do it in writing and keep copies of all letters. Send the ltr to YesLoans by Rec'd Del'y.

 

Keep the forms they have sent you.

 

Print your name on any letters to them and DON'T sign with your normal signature.

 

Don't waste another penny trying to phone them on their 0870 no.

[BankFodder]

The new Consumer Protection from Unfair Trading Regs 2008 specifiy exactly the kind of behaviour which you are complaining of as an unfair commercial practice.

Read our guide - http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/146460-consumer-protection-unfair-trading.html and then go and complain to the OFT as they have a duty to investigate.

Tell Yes loans that you have done this.

 

Make sure that you write a full note of the phone calls and everything which was said and include this with your complaint.

 

Also begin a complaint to the FOS. You will have firstly to send a complaint to Yes Loans but make it clear that you want their final decision as you will be going on to the Ombudsman whatever they say. If they don't cooperate then go to the Ombudsman directly.

 

I suggest also that you inform the police. You will probably find that they have received a lot of complaints about this company.

 

Follow the other advice given in this thread.

 

Do all of these things straightaway.

[autumnlady]

Thank you all for your replies.

 

I have spoken with my bank (Halifax) who were less than helpful as I gave this man my details they say theres nothing they can do.

 

I have spoken with someone at OFT who has passed on my complaint to Trading Standards who advised me that i have been mislead under the

 

Misrepresentation act of 1967

 

 

I have written recorded delivery to 'Yes Loans' as advised by the man at OFT telling them I have contacted these departments and that I want my money back within 7 days, I now await the outcome.

 

 

I hope no-one else gets misled by these people

[slick132]

Hi AL,

 

Try calling Halifax again - I think they should be able to "Charge Back" the transaction if you confirm it was taken without authority. They are just being lazy and have fobbed you off.

[autumnlady]

Good News

 

3 calls today from Yes Loans

 

All apologising for the 'misunderstanding' and to tell me that my money will be back in my account by Monday.:D:D

 

I think the reason they have done this is that I told them I had drawn up papers with the County Court and would be claiming the money back. As soon as I told them that and rang off they rang me within 5 minutes and then another two calls from them.

 

It seems this company do not like threats of legal action against them.

 

Thank you all for your advice, and to anyone else who has been scammed by these individuals write to them complaining as I did , send recorded delivery and threaten court action. It worked for me.

Edited July 5, 2008 by autumnlady

[slick132]

Hi AL,

 

This sounds good but don't let up until you get your money back. Let us know when it comes.

 

And I hope others will see this and have the confidence to just put the phone down on someone offering loans like this. Never let yourself be pressured by these callers.

[autumnlady]

Pleased to say the money has been put back into my account in full.

 

Many thanks to everyone for your help and advice!

[Prolix]

Did you report this to trading standards? If this company solicited a personal loan off trade premises then this is a criminal offence under the Consumer Credit Act 1974. Trading Standards would certainly want to hear about this and may well take action.

[slick132]

Hi AL,

 

Great result !!

 

I agree with Prolix - write a brief summary of the main events and send it to TS asking for their comments.

 

It may help stop these people taking advantage of their next victim.

 

Title changed to reflect your victory.