That loan broker found to possess carried out “deceitful and oppressive” methods has do not attract up against the loss in its credit licence.
Yes Loans, situated in Cwmbran, Torfaen, ended up being stopped from offering loans in March after a workplace of Fair Trading (OFT) investigation into consumer complaints.
Directors got 28 times to charm contrary to the choice to withdraw credit licences for three associated companies.
They say they shall just attract to retain the licence of Money Worries.
As a credit broker, Yes Loans was expected to introduce individuals who were hoping to find that loan to organizations prepared to offer unsecured credit.
The OFT, which was indeed investigating Yes Loans, discovered that the company misled some customers into believing that it was a loan company in the place of a credit broker.
The human body stated Yes Loans had deducted fees from individuals cards, without rendering it clear that a charge had been payable, and did not offer refunds in fun time. Continue reading