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How can we help you claim short term loan compensation?

Payday/Short Term Loan claims have emerged as a critical avenue for consumers seeking recourse against unfair lending practices in the financial industry. These claims stem from allegations of mis-selling, irresponsible lending, and failure to adhere to regulatory standards by payday and short-term loan providers. With the rise of these types of loans in recent years, concerns have grown over their affordability, transparency, and the potential exploitation of vulnerable borrowers.

On this page, we’ll explore the landscape of Payday/Short Term Loan claims, shedding light on the common issues faced by borrowers, the regulatory framework governing such lending practices, and the steps involved in pursuing a claim. From understanding the signs of mis-selling to navigating the claims process effectively, this information aims to empower consumers to assert their rights and seek redress for any harm caused by unfair lending practices.

Let us take the complexity out of making your claim

Payday/Short Term Loan claims can often be complex for a consumer, and we intend to simplify this as much as possible for you throughout your time with us. That’s why we’ve included some commonly asked questions which our team receive daily. These should cover the majority of your questions, but if you have any queries at all, you’re welcome to contact our team on 020 3002 0644, who will gladly cover any gaps in your knowledge. 

Payday/Short Term Loans are small, short-term loans typically intended to cover unexpected expenses or emergencies. They often come with high-interest rates and are designed to be repaid within a short period, usually on the borrower’s next payday.

A Payday/Short Term Loan claim is a legal action taken by a borrower against a payday or short-term loan provider for alleged mis-selling, irresponsible lending, or other breaches of regulatory requirements.

Common reasons include allegations of mis-selling, where the loan was not suitable for the borrower’s needs, irresponsible lending practices, such as lending to individuals who cannot afford to repay the loan, and failure to provide adequate information about the loan terms and costs.

You may have been mis-sold a loan if you were not provided with clear information about the loan terms and costs, if the loan was unaffordable for you, or if you were encouraged to borrow more than you could reasonably repay.

Signs include lending to individuals with poor credit histories without assessing their ability to repay, repeatedly refinancing loans without considering the borrower’s financial situation, and failing to provide adequate information about the risks and costs of the loan.

Yes, struggling to repay a loan may be a sign of irresponsible lending, and you may be eligible to make a claim.

You’ll need any documents related to the loan, such as loan agreements, statements, and correspondence with the lender.

Generally, you can claim for loans taken out within the last six years, although this may vary depending on the circumstances.

Compensation may include a refund of interest, fees, and charges paid, as well as additional compensation for any financial losses or distress caused by the loan.

There is no specific deadline, but it’s advisable to make a claim as soon as possible once you become aware of the mis-selling.

Making a claim should not affect your credit score, as it is a separate issue from your credit history.

Yes, you can still make a claim even if the lender has gone out of business.

You can make a claim yourself, but some people choose to seek legal assistance, especially if the case is complex or if the lender rejects the claim initially.

The duration varies depending on the complexity of the case and the responsiveness of the lender. It can take several weeks to several months.

If your claim is rejected by the lender, you can escalate your complaint to the Financial Ombudsman Service for an independent review.

Payday/Short Term Loan claims involve legal actions taken by borrowers against lenders for alleged mis-selling, irresponsible lending, or other breaches of regulatory requirements. Common reasons for claims include loans being unsuitable for the borrower’s needs, irresponsible lending practices, and failure to provide clear information about loan terms and costs. Borrowers may be eligible for compensation, including refunds of interest, fees, and charges, as well as additional compensation for financial losses or distress.

The claims process typically involves gathering documentation related to the loan and may require legal assistance for complex cases. It’s important to be aware of the signs of mis-selling and to take action promptly if you believe you’ve been treated unfairly by a payday or short-term loan provider.

Rest assured, your payday/short term loan claim will be in good hands...

Our strong reputation is founded on our consistent delivery of results, allowing us to establish close collaborations with experts across the UK. This ensures that we can offer our clients the finest possible service. To initiate the process, we kindly request an initial time investment from you to provide our team with the necessary documentation.


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