THE first thing you need to know about Yes Loans is that it's not actually a loan company. It charges £49.50 to put you in touch with other firms, which may or may not give you a loan. (They also only inform customers on rates etc if they ask.) And if you don't get one, receiving a refund proves a nightmare, according to victims who've contacted us. The second thing you need to know is that Yes Loans is owned by Keith Chorlton, who is currently serving a 10-year ban on acting as a company director. (why no action on this by the authorities?) Chorlton, 56, had siphoned £460,000 from his insolvent dating agency, leaving creditors unpaid. The consumer affairs minister at the time, Kim Howells, said: "There was serious misconduct which warranted a stiff penalty." A Yes Loans spokesman insisted that Keith Chorlton is just "a shareholder and provides consultancy services". Which is disingenuous. Chorlton is not "a" shareholder - he is the sole shareholder of Yes Loans. So who is running this firm? There's Keith's wife, Joy, plus fellow directors Gabby Cocchiara and Alan Spedding. We first encountered Spedding last month when we politely suggested that he might want to refund a customer who never got a loan. Spedding, in his words, "very graciously" agreed. Yes, he's that pompous. Penman met the three directors at the Yes Loans office in Cwmbran, Gwent, and even before the meeting got under way, Joy decided to call the police. Three directors. And between them they haven't filed the Yes Loans accounts that should have been sent to Companies House in August. (again why no action on this by the authorities?) During our visit, we handed over the latest batch of Yes Loans complaints that we have received. Victor Young, of Peacehaven, Sussex, wanted £5,000 and says that he was told he'd been accepted... but then got only a £2,000 loan offer. "So I asked for my £49.50 back from Yes Loans and was told that the firm couldn't do that," he said. AFTER applying for a loan in August, Bryn and Lesley Morgan, of Pontypridd, Mid Glamorgan,, said: "We were told that the money would be with us within 10 days. "Despite complying with everything asked of us -and paying a fee of £49.50 -no money has appeared." Only after stumping up the fee and not getting a loan did Maureen Blake, of Haverhill, Suffolk, discover the truth... "It turns out that Yes Loans only acts as an agent, which gives your details to other companies," says Maureen. A fourth unhappy customer reveals: "We went through my full credit history and, at the end, was told that I had been accepted for a loan. "So I sent the payment and then I was told that my application had been turned down." According to the company, one of the readers who complained to us had already had their problem solved and the others were "aware of the nature of their agreement". The statement continued: "In the context of 30,000 applications a month, we receive very few complaints but pride ourselves on our customer service." It added that 80 per cent of customers get loans and the others receive refunds - less £5 - after six months. We'll leave the final word to the police officer ho arrived at our meeting. But forwarding complaints to a company is not a criminal offence and the officer left to find better things to do. Penman had explained how, according to what Mirror readers have told us, victims received nothing in return for their £49.50, adding that, to some people, this might not sound like a lot of money. "It's a lot of money," the officer replied, "if you haven't got it." Exactly. The bit on Chorlton getting banned from The Guardian: http://business.guardian.co.uk/story/0,,235408,00.html
It would appear that Yes Loans and its leader the disqualified director Keith Chorlton are in a spot of bother. The Mirror newspaper has recieved a lot of complaints about them.
Now I covered Mr Chorlton here: http://newportcity.blogspot.com/2006/10/keith-chorlton-post-2.html
and here:
http://newportcity.blogspot.com/2006/10/someone-i-used-to-work-for-keith.html
and also here:
http://newportcity.blogspot.com/2006/11/cpw-carphone-warehouse-strong-arm.html
The Mirror have run a wonderfull story on this sleazy little man and the people who go along with his dubous way of conducting business: http://www.mirror.co.uk/archive/tm_method=full%26objectid=18183777%26siteid=89520-name_page.html
The Mirror had this to say about them:
If anyone out there has problems with Yes Loans, they can speak directly to Alan Spedding at alan.spedding@yesloans.tv or alternatively they can call 01633 712937, oh here is some assorted reading on the sorry saga of Keith Chorlton:
http://www.companieshouse.gov.uk/ddir/
http://www.blagger.com/db4/company_id/574/companyname/Yes-Loans.html
http://forum.moneysupermarket.com/forums/2/3914/ShowThread.aspx#3914
Yes Loans
Gordon Bon
Mel Roberts
Gaby Cocchiria
Talk Talk
Alan Spedding
Tintern House, William Brown Close
Llantarnam Park
Cwmbran NP44 3AB
Tel: 01633 712712 Fax 01633 712743
Keith "Don't call me" Wilmot Chorlton can be found at: Primrose Cottage, Henllys Cwmbran, NP44 7AZ
1 people have spoken:
Chorlton can also be found on 07836 77 77 77. Sallly Hill the new managing director 07931 3788 34. You could ring Molly and let him know tht Sally is also a thief who stole money from Loopy Mobiles customers when she put the company in to liquidation. I was also having a beer with a mate in The Blackbird and he said he had seen Chorlton and Hill parked up in the woods in the back of Chorltons Range Rover and they were not disussing business as she could not talk because she had her mouth full.
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