untitled

Loan Companies to avoid:

Advantage Loans

Tenant Loans

Yes Loans ltd

Payless Finance

 


 

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Hear I will tell you about some of the Loan places you Should Avoid, at all cost's. Lone place’s that have found a hole in the law and are not afraid to use it for their gain. 

 WARNING:

Do not ever send any money to any loan company, A you will loose it and have a fight on your hands to get it back.

What happend to me.

Some time in every ones life they will run into money trouble, no matter how well you deal with your bills there often comes that time when you need help. I found myself in this position a while ago. Due to illness I ended up out of work. At first we tried to manage things living in hope that something will give and we will be ok, but nothing gave and our debts were getting out of hand.

I had no other option. We needed a loan to pay off all our debts so that we only paid one company and not lots hear and there. Thanks to the pc I surfed the internet, I had some CCJ’s and so needed a loan company that helped people that had bad debt. And so I put in the words “Loans for people with Debts” and loads of sites came up, And so I looked at a few and filled in my details and waited.

After a few day’s we were contacted by one of the companies Advantage Loans after reading the information We filled in our details and sent them away with our £49.50 money we really could not do without but we will be getting a loan so no worries.

After about a week we did not hear from them, so my wife contacted them, and she was told that things were being processed, all well and good. Two weeks went past and so we contacted them again we got a bit of a run around but in the end we was told that things will be ok and that they will fast track things for us. Few what a relief to hear that. More weeks went past and we heard nothing. So yet again we was on the phone, it took us days to get through to someone, but we was only told “we will look into the matter”

That's it I said I got back on to the internet and did a bit of digging around about Advantage Loans, and I found a web site with no end of complaints about Advantage Loans. I felt so ill. I was not getting anywhere with Advantage Loans I wrote letters I rang them I kept on and on until I realized that my money was lost. I was not going to take this sitting down so I wrote A message to everyone on the web site, informing them that I was going to contact Watchdog, and I think they should do the same, Watchdog did a program about Advantage loans, I had to send all my paper work to them so the could investigate. A few days later I got a call from Advantage Loans letting me know I was going to get my money back. And a few days later a cheque came in the post for the full amount, what a relief that was. How can companies get away with that sort of scam, the worst thing was a week after getting my money back I received a letter from Tenant Loans telling me that they could help me, As soon as I read the letter, bell’s were going of in my head. Yes all I had to do was fill in the form and send £49.50

I took a look at the companies address and found that it was the same as Advantage Loans. What a cheek they were only trying the same trick again.

I posted the letter straight in to the bin.


COPY OF ACCEPTANCE.

Post Net Ltd is one of the largest brokers of unsecured loans in the UK. The company, including the four brands of Tenant Loans, Advantage Loans, CGS and Financial Processing UK.

Please do your homework if you are going to use one of these's, better than that go to someone you know or find another way.


 HOW CAN THEY DO THIS.

Just because you have been told that you have been accepted, does not mean that you have been accepted for a loan. What you have been accepted for is to be on the companies books. And they will search loads of loan companies on your behalf. So what wrong with than. If like me when I was told I had been accepted, you instantly think that you have been accepted for a loan, but that’s not true. If you read the small print (something a lot of people don’t do) it will tell you, the terms and conditions.

And that’s how people get fooled. There is no law that tells companies like this that they should state in bold writing that you have not been accepted for a loan as of yet, but what you have been accepted for is to be on the companies books and the £49.50 that you pay is for a finding fee and nothing more.

The law needs to be changed, and close this loop hole, and make companies like these state clearly that they are not giving you a loan, they are trying to find you a loan.


letters from others:

Taken Money from a Priest and told him loads off lies

Dear Whom it May Concern.....

I am the person named above.. This is the 4th letter i have sent to this company.

This will be my final contact unless i have feedback from you.

On the understanding from information given to me on the phone i applyed for a loan. after a while i was sick of all the lies told to me and my partner from Tenant Loans. So on that note i asked for the sum of 50:00 to be paid back to me, as i was not happy with the customer services.

Now for the final time i would like contact on when the money will be paid to me, as i am very close of contacting the law centre and WATCHDOG who are very intrested in my story. ( The Truth )

On this Day i spent 2 hours trying to get through on the phone this is also bad service

I do hope this e-mail finds you well and is acted upon on very soon.. If i have not heard from you within 48 hours i will take this matter further

Revd Fr Mark Paris



 

Advantage loans mislead their customers with false quotes.

I was actually quoted a loan of £5000 with exact monthly repayments of £111.80, the actual loan I was offered was £3000 with monthly repayments of £115.02. I had actually been contacted by them, I had previously been applying for a loan online, and as many lenders share the information you give them, Advantage Loans got hold of my information and contacted me.

They had told me that I had already been accepted and that they had already gone over the details that I had supplied the other company, with this in mind they told me I "would" be accepted for the £5000 loan, all I had to do was fill in their application and send them a finding fee of £49.95 in order to finalize the loan application.

Now with this said, they do not actually have any legal requirement to refund the finding fee I sent them because they did actually send me out a quote for a loan, and they do state in the small print that the loan quote you receive may not be of the same amount you applied for, when you consider that it was them who quoted the amount of the loan and its them who actually send out the documents on a loan form with the amount they quoted on it ...it is misleading, because you are lead to believe that you will be getting the loan that they quote, when I fully believe they send out those document knowing full well that they are quoting you a false figure.



I Made an application with Advantage Loans, a Loan Finding Company,
a month ago. The amount that I applied for was £15000 - I then made them a payment of £49.50 admin fee. They then sent me a letter to say that the payment had been declined. I then went to the bank and ordered a statement, and it showed on there that the payment had been made. They did not even apoligise to me regarding this. I then called them and spoke to them advising if they have moved my application forward with any Loan Lenders and they sent me a letter saying that they have sent me to a lender who can offer me £5000, which was not aplicable to me as I wanted £15000.

I then asked them if they can cancel the application, as they can't find me a lender who can offer me the £15000. I have now received a letter from them advising that they can't refund my money, because they have found me a lender for £5000, and I am not accepting the loan for £5000. I have explained to them, this is not the amount that I have applied for, and also signed for.

I then spoke to a Mangaer called Liz, who was extremley rude and very unprofessional, and not customer service focused at all, and advise me that I won't get my refund, and I can do what I like. I feel that they have messed me around from the day that I made my application with them ,and I did not even receive an aoplogy from them.

Please, for future reference, don't use this Company as they are not polite to deal with, and I think that they should not be allowed by rights to keep my £49.50 fee, as they have not met up with the loan amount that I was applying for.

Please could you look into this, as it worries me how many people they have done this to, and how many more people will get conned into paying these fees.


wife taken in by xxx xxx loan comp

my wife applied for a loan in 2005 ,but decided against taking said loan .however she was contacted by tenantloans and over a 2 wk period was coerced in to sending them £50 postal order on the promise that she had definatly got confirmation the loan was hers as soon as the po was cashed they sent her a letter confirming she did not have a loan and should get in touch a company that is only 3 miles away from were we live who would give her a £3000 loan at 42.8 percent intrest rate when i found all this out i called them and was given the ty but no ty spiel and fobbed of i have tried the customer fob off no that just rings n rings no surprise there any way please make sure you DO NOT SENDANY MONEY you will not get anything for your hard earned iam so anoyed im thinking of going to the fraud squad because this is a blatant xxxx ANY1 OUT THERE HELP US GET OUR CASH BACK TY


They have taken money from me! Help me.

I am Italian and I came to England 2 years ago to study. Now, to finish my university and get a car, I asked for a loan from TENANT LOANS.

When they asked me to pay a fee, I asked if there was something wrong, can I have my money back? A customer assistant, very friendly, said to me, " of course, if your loan won't be accepted, you can have your refund in 30 days". After 2 months trying get the loan, they said I wasn't accepted. Ok, I said, "I want my money back now". TENANT LOANS sent a letter to ask to let my application open for 6 months.

I rang them, and, after I kept ringing for 1 week and always hearing a message " ALL OUR OPERATERS ARE BUSY AT THE MOMENT, PLEASE TRY AGAIN LATER", today I got through, and the customer service just said " I can't give your refund now, due to the law 1994 - we can keep your money for 6 months".

I just want to know if they are right, or if they are xxxxxxxx my money.

SOMEONE HELP ME, PLEASE!


Poor customer service - taking money from people

I applied to a company for a loan, and they gave me Tenant Loans details. I phoned the company, and they sent out information to me saying that I had been approved for a £5000 loan. I paid their fee of £49.50, and was told that someone would contact me in two days to confirm what payment terms I required.

A week later, I emailed them and had no reply and I have still heard nothing from them, so contacted them by phone again, but they were quite rude and unhelpful. I tried two days later, and managed to get another contact number and they told that they will send the loan information through. I recieved that this morning. I am not happy with them, as the loan they have found for me has to have a guarantor, only for £3000 and over 36 months and an APR of 42.8%.

I contacted them and was told basically, tough, I was not to get my money back, and then had the phone put down on me. I called back and asked to speak to a manager, and, she only gave me her first name Liz, refused to give a second name and she also told me that I cannot get my money back.

I'm a little fustrated that they haven't helped me, been really rude, and now left me £49.50 out of pocket, which I need at the moment to feed my 2 year old son.

Please can you help me in getting my money back, and help other people to stay away form this company as they rob people blind and take advantage of vulnerable people.


yes loans

yep we fell for it as well £49.50 out of pocket at no time were we told they were a broker nor were we told this would be passed on to welcome finance fsa here we come don,t go near them


Yes loans

I usually pride my self on being able to see a xxxx but I admit I fell for the bait. It is a complete xxxx and like some people have mentioned you are simply xxxxxx out of £50. I don't know how these people can get away with it. Please, Please spread the word these people are a xxx. They are not interested in getting you money they simply take it. It is so curel considering the people who often apply are hard up. I don't know how these people sleep at night


Yes Loans! Beware!

like all the other reports I also fell victim to Yes Loans Scam. To start with I spoke to there applications department where got through almost instantly with no waiting - during my conversation I applied for the 2500 loan at 97 per month. Lady over the phone said Yes this was fine, she run a check on me (don't know what type) and then come back to me saying 'we have run a check and you have been accepted for this loan' I was optimistic at this point as I have had a few credit problems in the past. Few days later I got a letter saying I have been approved and had my details checked against there approval system and I was now a client of Yes loans. Further down the letter the wanted £49.50 whic hwas news to me as I was never told this, so being me I sent them the money. 1 week past no confirmation, 2 weeks past no confirmation so i called them and asked them when do I get my money. They said that they were having a problem with there system and would call me back. 1 week passes no call back so i called them back to be told that my application was declined by Welcome Finance. I was like! errr Why would they reject they loan I applied to Yes Loans not them. He then replied 'Well we are a broker' again this was never explained to me if it was I would of never paid them the £49 I would of applied to welcome myself. So at this point Iwas fuming I spoke to a senior member of the team who told me no managers we in, only a supervisor who is to busy to listen to my complaint. I demanded my £49.50 back and he said I had t owait 6 months, and that it was £44 i would get back as they were taking £5 from it to cover there costs.!!!!!!!!!!!!!!!!!!!!!!!! What costs, they never did anything for me. Am just about to contact my local newspaper as this has gotta stop, its a disgrace.

!!!!BEWARE!!! DO NOT USE YES LOANS!!!!!!!


ripped off

I had tried to get a loan but had been refused when I saw the ad for yesloans. So I rang the number given and was quite happy with the service I received. I spoke to a lady who told me my criteria was ok for a loan from the company and she said she would send out the necessary paperwork for me to sign. I had been accepted for the loan. A few days later I got the proposal and signed it, they need a £49.00 admin fee, which I though was fine.

They also sent my agreement along with the form to sign and all the details of payments for the loan and interest charges, there was nothing else stating that I would not get the loan. I sent off my admin fee and waited for a letter telling me when I would recieve the loan amount, I waited two weeks and heard nothing so I rang the company a guy answered the phone told me I had been declined. I was totally shocked and didnt argue just hung up the phone, how can a company that states you have been accepted for a personal loan take your admin fee send out all documents then not fulfill their commitment. I am not going to let this drop and will be seeking some sort of explanation and my administration fee back, I am sure there will be many more people who have encountered the same thing and this company must be making a fortune from all the admin fees they are accumulating.


Yes loans

I too fell victim to yes loans - you can have £2500.00 and repay at £97.00 a month and again as you wrote i was never told if you dont have computerised wage slips you cant get the loan. Only after I paid the fee £49.50 and was blagged by Welcome Finance I contacted yes loans and couldnt get through. You are put on hold and forgottern about.

Dont go with with unless you have £50 to throw away.


responses to the other reports

I was shoked to hear of the situation that most of these people experienced.

I myself have just applied for a loan of this company, and have had no reply, so became increasingly concerned about what was happening.

I felt sickened to learn that when other people tried to contact them they were either closed, or no one could help them.

I felt sick because this has happened right down to the exact situation as me today.

I did not want to really believe that this was the case as i work for a bank myself, and felt i knew.

this just shows that i dont know as much about fraudsters out there like i thought i should have.

I have just passed my test and was so looking forward to getting a car at what i thought a lower apr.

what my only qeustion is, is why do people like this have such fun getting off on other peoples misfortunes?????


got a letter i got approved a loan and then sent 49.50 got told no

I went on 'yes loans ' website, applied for A loan online. Got 2 letters, which said, congratulations, you been sucsessfull with becoming a 'yes loan' client, and your application will be delt with at earlist possible oppornity - 4 to 5 days - please send an administration fee of 49.50.

I did this, and when I rang to see when money was going in bank, I was told I could not have a loan. When I said I have 2 letters saying I have been successful, she said yes, to become a 'yes loan' client. I asked about my money, and she said that's admin fees. They then kept trying to change the subject, saying I could use my car against a loan.

I will never use them again, and just don,t want other people to be conned by them.


No Subject

I applied to Yes Loans two weeks ago and was agreed a loan with them over the phone.

I then received my agreement, signed it and had to send £49.50 admin fee, that has cleared, but no cheque has arrived in time they stated, and I today had a company contact me informing me Yes Loans have passed my details to them as Yes Loans are a broker only.

The comapny that contacted me would not agree my loan so I am out of pocket by £49.50.

I am really angry about this and advise others not to go near Yes Loans.


No Subject

I filled an application form in 1 week prior to 24.02.05, regarding a loan for £4000.

I was asked to send an administration fee of £49.50, to have the loan arranged, once it had been approved. I then recieved some days later,a letter showing the revised amount of the loan, and what the repayments would be, and stating that it had been approved. I would have to wait a further 7 - 10 days for the cheque to be released. Aafter March the 4th, I decided to give yesloans a call to see just how and when excactly I would receive my money, and if there were any problems.

I could not get any response from the customer care team!! I then called everyday twice a day, right up until today's date of this letter, and still twice a day, when I finally got through today, I asked the young man,f irstly why things were taking so long, and what was going on, and he then said that I would have to speak to someone else, but I started to get very concerned, and found myself asking if that was this all really a scam, and did yesloans really exist!!!

Before I could go any further, he simply hang up on me, and his last words to me were "I'm going to transfer you to you another customer service member".

This is the last I have heard from them!!!
Yours sincerly,
Mr T Thorpe.


Krisha Therley

My initial contact with this "company" was under the name "Tennant Loans", I wont go into what they offered because every single person has been offered the same, surfisive to say I paid the £49.50. As commented before, I was matched with FLM who wanted a Guarantor which was not possible. I then contacted Tennant Loans to request a refund and was told "no, we will find u a different lender instead", i declined and said I would write in.

During this time, I was written to by Advantage Loans, identical letter to Tennant Loans, identical offer. A 3rd letter was received from First Stop Loans. Following this, I have had 3 letters from CGS offering me their "credit card scheme". It is clear that their interest is the £49.50 and after this they throw you in the bin and move onto the next "sucker".

I've contacted watchdog tonight and suggest anybody else seeing this does also, if enough of us report it to watchdog on 0208 535 1000 we may get featured and have our money back.


 


Please read all comments on this site, do not use this company.I called and wanted advantage loans to help me with a loan back in April 2007, i was approved over the phone and was told i could recieve documentation with a £49.50 set up fee, I arranged for this payment to come out on the 27th April when i got paid Advantage Loans did this for me, However during this time another company offered me a better deal with no set up fee an lower monthly repayments with low APR, I phoned advantage loans to cancell the payment that had been set up in advance and i was advised that this had been done.Needles to say on the 27th April i checked my bank and advantage loands had taken out £49.50 from my account, I called the call centre immediatley and asked them to refund the money straigt away, i was told that a cheque would be sent on that day, by tuesday I still had not recieved a cheque, I called again and was told that they would not refund the money as a cheque had already been sent out! I was then asked by a very rude gil in customer services to provide a STAMPED bank statement to prove i had not cashed the cheque (even though i hadnt recieved one!) I got a statement and faxed it over, I then had a phone call to say it may take another 7-10 days to process, after a very heated discussion i was then told that my money would be refunded to my card that i set up the payment with in the first place, that was on the 8/5/7. I will have to wait until Thursday to see if this money has gone through or not.


Please Please Please use this compnay with extreem caution! I am still recieving post saying my application has been processed, text messages to my phone and phone calls - they do not seem to have any communication skills, even when i call to querie my refund they say "congratulations you loan has been approved" the have absolutley no idea at all.


Sarah

I too had a letter from a company called Tenant Loans who like everybody else offered a fast track fee of £24.95. They said that you pay this to get the best offers around. I had been accepted for £7000 over 5 years at £167 per months at 16.2% APR which a thought was reasonable considering my circumstances. I had been reassured that my loan has been accepted so I paid the fee. I received my agreement from FLM and I was outraged to see what they offered. £3000 at 42.5% apr!!!!! and I needed a guarantor. I was never told this at the application stage. I was never told that the fianance package I wanted would't be the one I would get either. This finance broker totally miss sold me the finance. If all the details were told to me I would never of paid the fee (but this is how they get their money by not digressing the truth!!) TO EVERYONE OUT THERE, IF YOU HAVE BEEN MISS SOLD YOUR FINANCE PACKAGE...GET YOUR MONEY BACK...YOU HAVE RIGHTS...IF THEY SAY NO...TAKE IT UP WITH EITHER TRADING STANDARDS, THE FISA OR EVEN WATCHDOG...JUST KEEP AT IT...THESE TYPES OF COMPANIES PREY ON PEOPLE WHO ARE NOT FINANCIALLY IN THE POSITION TO PAY OUT THESE TYPES OF FEES TO FINALLY FIND OUT IT WASN'T THE AGREEMENT THEY WERE HOPING FOR AND LOSE THE MONEY


YES LOANS

i have also like many people been conned out of my hard earned £49.50 which i could do with right now but cannot get it back because some rich director of yes loans is currently spending it in the costel del crime smoking a big fat cigar and laughing his socks off. i like you have tried to ring them on numerous occasions and have heard the same music track 1000 times over but cannot get through. they are so tight they only have one track . well i am sick of it now and i am going to take them to the small claims court to get my money back and i don't care if i have to pay a fee because i will not wait six months. they will listen to the courts and if they do not respond i will have every right to get the bailiffs in. i am going to do everything in my power to wipe the grin off mr fat directors face conning people out of their hard earned money.
thanks for reading this by the way, i am glad i am not the only dumb person to fall for this scam.
keep you posted if anything materialises.


Debt Management
My husband and I paid in total £500.00 (£54.00 per week) to these people and then found out about 6 to 8 months down the line that they never did pay any of our creditors. I have tried contacting them and sending a recorded delivery letter but to no avail. I cancelled my direct debit thank god! I could have still been paying them. DO NOT USE THEM!!!!!

No Subject

I started with payless finance in Febuary, and up to now I've paid them 12 weeks of 183.00 a week to pay my bills, but nothing as been paid.

For a fortnight I've been trying to get in touch with them but still no luck. Ive sent them two letters one by normal post and one by record delivery to say that if they not paid my bills could I have my money back and all my documents.

I have been on their web site too, filled out their form to get them to reply to me, but still no joy.

I wonder if you could help me.


Am in the early stages of trying to get my £49.50 back off this company , been onto various financial regluators here in NI and yes loans seem to have alot of of complaints against them , no point phoning the company - as soon as a i say "refund" they switch me to somewere else were no one actually talks , so have e-mailed them about my solicitor taking my case to the small claims court , and have also sent them the link i found on the internet were the managing director of yes loans states that the £49.50 fee is refundable str8 away , so time will only tell... my details are below if any1 wants 2 contact me with a similar story and how they got their cash back..if they infact did... it not about the money now its about the revenge lol... contact me via the e-mail below....put "yes loans" in the title field....cheers...

janty76@hotmail.com


I applied to yesloans ,for a loan for home inprovements ie decorating etc .Irecieved a letter from them stating they were pleased to confirm that i had successfully accepted as a client and with regards to my telephone conversation with Talah,they had enclosed 2 copies of the Proposal Agreement for my requested amount ,stating how much i had asked for ,and total repayment back .The conversation with this so called csa was that the monies would be in my account ,usually within 4 or 5 working days .They requested an admin fee of £49.50 and i gave my account details for them to take it .Then i was inondated with text messages to get in touch with them to process my application further .After trying for 3 days to get in touch with them (to no avail ),i got a letter from another company WELCOME FIANCE stating that yesloans had passed my details to them ,for them to let me apply for a loan !I PHONED YESLOANS ,TOOK ME ABOUT 30MINS TO GET THROUGH ,and they said they are only brokers ,thats why they had PASSED THE BUCK so to speak to this company .Ihave been conned by yesloans ,how many others have they done this to ?


YES LOANS

i have also like many people been conned out of my hard earned £49.50 which i could do with right now but cannot get it back because some rich director of yes loans is currently spending it in the costel del crime smoking a big fat cigar and laughing his socks off. i like you have tried to ring them on numerous occasions and have heard the same music track 1000 times over but cannot get through. they are so tight they only have one track . well i am sick of it now and i am going to take them to the small claims court to get my money back and i don't care if i have to pay a fee because i will not wait six months. they will listen to the courts and if they do not respond i will have every right to get the bailiffs in. i am going to do everything in my power to wipe the grin off mr fat directors face conning people out of their hard earned money.
thanks for reading this by the way, i am glad i am not the only dumb person to fall for this scam.
keep you posted if anything materialises.


Crap Crap Crap!!!!

I feel such a fool.. Im a single parent struggling on benefit and low income, I was looking for a loan to improve my standard of living.. I researched the net for suitable loans and YES LOANS seemed perfect. My application was accepted for £1000. A credit plan was drawn up for me to pay it back at £40 per month with a total interest of £446 added. I had to pay a fee of £49.63 which l did. I thought it was abit strange but they assured me it was a one off fee as l was of a low income.. The up shot is my loan was declined!!! They didnt even tell me by letter or phone. I feel so enraged,l was just trying to do right by my little boy. Not only have l lost £50 but they have my bank details..
DONT USE YES LOANS!!!!!!!!!! What do l do now? Orlagh


having recived a leaflet from yes loands through my door on reading it ,it sounded good & easy to get aloan from them you can apply on line so i applyed on line with all my details & loan amount with in 30 seconds of submiting it my telephone rang it was yes loans thanking me for applying to yes loands she then told me she would send me a application form which i recived with in two days filled in all the required infomation including my bank details also £49.50 cheque the said thay required for admin, fee with in the next five days i recived a letter from them saying congratulations on being successfully accepted as a client of yes loans it says that it should take 7 to 15 working days to be processed having waited 4 weeks with no reply i decided to give them a ring on ther customer care number but all i got was a recorded messages telling me all the lines were busy and to ring back at a nonpeak time which i did on several times on different days with same result so i rang the application number he took all my details and said he would pass it on to his supervisor as yet had no joy i can not make any contact with them to sort the matter out. i am now taking the matter to the office of fair trading according to yes loands they are licensed with the office of fair trading. if u are in the same boat give the office of fair trading a ring


yep we fell for it as well £49.50 out of pocket at no time were we told they were a broker nor were we told this would be passed on to welcome finance fsa here we come don,t go near them


I usually pride my self on being able to see a xxxx but I admit I fell for the bait. It is a complete xxxx and like some people have mentioned you are simply xxxxxx out of £50. I don't know how these people can get away with it. Please, Please spread the word these people are a xxx. They are not interested in getting you money they simply take it. It is so curel considering the people who often apply are hard up. I don't know how these people sleep at night


like all the other reports I also fell victim to Yes Loans Scam. To start with I spoke to there applications department where got through almost instantly with no waiting - during my conversation I applied for the 2500 loan at 97 per month. Lady over the phone said Yes this was fine, she run a check on me (don't know what type) and then come back to me saying 'we have run a check and you have been accepted for this loan' I was optimistic at this point as I have had a few credit problems in the past. Few days later I got a letter saying I have been approved and had my details checked against there approval system and I was now a client of Yes loans. Further down the letter the wanted £49.50 whic hwas news to me as I was never told this, so being me I sent them the money. 1 week past no confirmation, 2 weeks past no confirmation so i called them and asked them when do I get my money. They said that they were having a problem with there system and would call me back. 1 week passes no call back so i called them back to be told that my application was declined by Welcome Finance. I was like! errr Why would they reject they loan I applied to Yes Loans not them. He then replied 'Well we are a broker' again this was never explained to me if it was I would of never paid them the £49 I would of applied to welcome myself. So at this point Iwas fuming I spoke to a senior member of the team who told me no managers we in, only a supervisor who is to busy to listen to my complaint. I demanded my £49.50 back and he said I had t owait 6 months, and that it was £44 i would get back as they were taking £5 from it to cover there costs.!!!!!!!!!!!!!!!!!!!!!!!! What costs, they never did anything for me. Am just about to contact my local newspaper as this has gotta stop, its a disgrace.

!!!!BEWARE!!! DO NOT USE YES LOANS!!!!!!!


i got a loan paid the £49.50 they took the money still no loan every time i phone them i get told a different thing still no loan they r xxxx merchants so much for yes loans dont use them


I had tried to get a loan but had been refused when I saw the ad for yesloans. So I rang the number given and was quite happy with the service I received. I spoke to a lady who told me my criteria was ok for a loan from the company and she said she would send out the necessary paperwork for me to sign. I had been accepted for the loan. A few days later I got the proposal and signed it, they need a £49.00 admin fee, which I though was fine.

They also sent my agreement along with the form to sign and all the details of payments for the loan and interest charges, there was nothing else stating that I would not get the loan. I sent off my admin fee and waited for a letter telling me when I would recieve the loan amount, I waited two weeks and heard nothing so I rang the company a guy answered the phone told me I had been declined. I was totally shocked and didnt argue just hung up the phone, how can a company that states you have been accepted for a personal loan take your admin fee send out all documents then not fulfill their commitment. I am not going to let this drop and will be seeking some sort of explanation and my administration fee back, I am sure there will be many more people who have encountered the same thing and this company must be making a fortune from all the admin fees they are accumulating.


I initially was sent through a leaflet by Yes Loans, who stated on their leaflet that they can help people with poor credit rating to apply for a loan. I am aware that I have poor credit rating as whilst I was studying I came into financial problems and therefore this resulted in my credit rating hitting rock bottom.
Initially I thought yes this could help me and then thought I would go on the website to seek more information. I finally thought that the company seemed like an honest company that would help me therefore I applied. The team were very friendly and positive and told me they can help me but that was a complete lie.

When I received the paperwork at home, it stated on the form that I had to pay an administration Fee for £49.50, to get the application started. This made me concerned so I called them to get more information; I then spoke to a lady who told me that this was an initial fee which is refundable if the application is denied. After speaking to the lady I was convinced to go for the loan as at this stage they still seemed like a genuine company. I therefore gave my debit card detail with the administration fee.

Later that week I received a letter congratulating me on being a client of Yes loans and I was told I would be contacted by either a vendor or yes loans with 4-5 working days. I waited and got no response from anyone, I therefore called up after 7 days, and I was then told that I had been declined due to poor credit rating. Okay I found this fair enough but then was told I would not get my administration fee back for 6 MONTHS! The company didn’t even call me to tell me the application had been denied by their independent vendors.
They then offered me solutions such as loans on my vehicle, which did not seem sensible to me and then asked me if a cheque guarantee card that I could get loans on. They seemed to be offering me loans that would get me in a worse situation, not one loan that could help me resolve my situation.

I was very upset at this stage and asked for everything to be cancelled, even after this I was told nothing would get refunded for 6 months. I then asked to speak to a manager, I was then told there was no manager there and that someone would contact me. I asked when they told me when someone is available, they obviously did not care about my concerns and offered me such a poor service and had no means on customer care.

After this I felt that I had been taken of complete advantage and lied to from the beginning. Yes, I may have poor credit scoring due to difficulties in the past but why offer things to customers that can’t really happen. It seems to me that the company cheats customers and offer a loan that they know the customer will never really get and on top of this they take nearly £50.00 for you for 6 months and don’t do anything for the customer apart from hold their money and make interest on it.

When someone in my situation applies for a loan, it is hard enough to start with no wonder get messed around and then keep money which I shouldn’t have spent in the beginning. It seems instead of getting a loan; they have taken money form me that really I couldn’t afford to give at this stage.


I too fell victim to yes loans - you can have £2500.00 and repay at £97.00 a month and again as you wrote i was never told if you dont have computerised wage slips you cant get the loan. Only after I paid the fee £49.50 and was blagged by Welcome Finance I contacted yes loans and couldnt get through. You are put on hold and forgottern about.

Dont go with with unless you have £50 to throw away.


I was shoked to hear of the situation that most of these people experienced.

I myself have just applied for a loan of this company, and have had no reply, so became increasingly concerned about what was happening.

I felt sickened to learn that when other people tried to contact them they were either closed, or no one could help them.

I felt sick because this has happened right down to the exact situation as me today.

I did not want to really believe that this was the case as i work for a bank myself, and felt i knew.

this just shows that i dont know as much about fraudsters out there like i thought i should have.

I have just passed my test and was so looking forward to getting a car at what i thought a lower apr.

what my only qeustion is, is why do people like this have such fun getting off on other peoples misfortunes?????


I went on 'yes loans ' website, applied for A loan online. Got 2 letters, which said, congratulations, you been sucsessfull with becoming a 'yes loan' client, and your application will be delt with at earlist possible oppornity - 4 to 5 days - please send an administration fee of 49.50.

I did this, and when I rang to see when money was going in bank, I was told I could not have a loan. When I said I have 2 letters saying I have been successful, she said yes, to become a 'yes loan' client. I asked about my money, and she said that's admin fees. They then kept trying to change the subject, saying I could use my car against a loan.

I will never use them again, and just don,t want other people to be conned by them.


My husband and I applied for a loan with this company, we were accepted and paid an administration fee of £49.50.

Shortly afterwards we had not heard anything about our loan so we called them up and ask them what the hold up was, they then explained that we had been declined for the loan. I then asked why we was not contacted and they explained that they were an incoming company and could not contact us because they have so many calls to make.

I then asked if we was actually going to get our admin fee back and was disappointed to learn that we will not get it back for a further six months.


I applied to Yes Loans two weeks ago and was agreed a loan with them over the phone.

I then received my agreement, signed it and had to send £49.50 admin fee, that has cleared, but no cheque has arrived in time they stated, and I today had a company contact me informing me Yes Loans have passed my details to them as Yes Loans are a broker only.

The comapny that contacted me would not agree my loan so I am out of pocket by £49.50.

I am really angry about this and advise others not to go near Yes Loans.


I filled an application form in 1 week prior to 24.02.05, regarding a loan for £4000.

I was asked to send an administration fee of £49.50, to have the loan arranged, once it had been approved. I then recieved some days later,a letter showing the revised amount of the loan, and what the repayments would be, and stating that it had been approved. I would have to wait a further 7 - 10 days for the cheque to be released. Aafter March the 4th, I decided to give yesloans a call to see just how and when excactly I would receive my money, and if there were any problems.

I could not get any response from the customer care team!! I then called everyday twice a day, right up until today's date of this letter, and still twice a day, when I finally got through today, I asked the young man,f irstly why things were taking so long, and what was going on, and he then said that I would have to speak to someone else, but I started to get very concerned, and found myself asking if that was this all really a scam, and did yesloans really exist!!!

Before I could go any further, he simply hang up on me, and his last words to me were "I'm going to transfer you to you another customer service member".

This is the last I have heard from them!!!
Yours sincerly,
Mr T Thorpe.


I contacted Tenant loans to get a loan for my daughter i was quoted a good price and paid £49.50 to speed things up, when we got the paperwork the quote was much higher so she couldnt accept it. I contacted them to tell them what had happened and they refused to give me back my money and also said that this is what was quoted and the lady i spoke to would not believe me.
I asked them what was the procedure to make a complaint and she said i had to fax my letter to them in Bournmouth but unfortunately it will take a long time so to be very patient, this I did in July 2007 and have still not had a reply, not even a reply to say that they have received the fax. This company must be doing this kind of thing all the time, how much money have Tenant loans made off people by doing absolutely nothing.


Do you know:

Do you know about a company that has done this to you, or someone you know, why not get in touch and let us know.

The only way of stopping companies from doing this is by letting others know, and maybe we could spare others from this misery 


 

 

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