Yes Loans

Loan Yes

Closes down watching dogog. Yes Loans, one of the largest UK retail credit intermediaries, was closed down by the Office of Fair Trading (OFT) because of its breakaway practice. OFT has been targeting the company for some considerable amount of considerable progress, compelling it to start improving its practice almost three years ago. In addition, two related companies were closed, Blue Sky Personnel Finance and Money Worries.

Deceptive practice checklists involved lies about individuals being tricked into providing debt or charge cards and collecting charges without informing them. At the same time, it put some buyers in short-term, high-interest agreements - such as payment day loans - rather than more accessible loans. Well, the principals of Yes Loans said:

Headquartered in Cwmbran, South Wales, Yes Loans is run by three principals, among them 31-year-old Simon Chorlton, the son of Keith Chorlton, the former chief of the company, who passed away from the cancer last year. In 2010 it made a profit of 2.2m and simultaneously paid 1m in cash out to its Managing Director. Last year, the managing directors had made £15 million in cash outpayments.

"Whilst the choice to withdraw the license is the right one, it seems long overdue," she said.

Yeah, credit's a no no.

£49.50 is charged to put you in contact with other companies who may or may not give you a credit. Chorlton, 56, had emptied 460,000 from his bankrupt rating and left believers unsettled. Mr Chorlton is not an "a" stockholder - he is the only stockholder of Yes Loans. Penman greeted the three managers at the Yes Loans offices in Cwmbran, Gwent, and even before the meet began, Joy resolved to call the Cops.

There are three director. Viktor Young, from Peacehaven, Sussex, wanted 5,000 pounds and said he was said to have been accepted...but then he only got a 2,000 pound credit quote. FOLLOWING the application for a debt in August, Bryn and Lesley Morgan, from Pontypridd, Mid Glamorgan, same: "We' re said the cash will be with us within ten working nights.

It'?s a forth dissatisfied client who tells: "At the end, I was informed that I had been approved for a mortgage. "and then I was informed that my request had been rejected. "It added that 80 per cent of clients get loans and the others get rebates - less than 5 - after six month.

"It'?s a big buck," the officers said, "if you don't have it.

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