Claim a refund of large loan interest. You could be due thousands.
No win no fee overdraft interest refund claims.
Did your lender allow you to take out large loans that you couldnt repay?
What types of loans?
- Any personal loans, including high-cost lenders, bank loans, and credit union loans.
- You can complain if you are still paying the loans, or it has already been repaid.
- A consolidation loan may have been cheaper than the credit cards it cleared – but it may still have been unaffordable!
- You can also complain about car finance.
- The complaints here do not apply to mortgages or business loans.
What is “unaffordable”?
The regulator says “affordable” means:
you can make the repayments without hardship or having to borrow elsewhere.
For large loans, a lender should have made adequate checks at the start. The larger your loan, the worse your credit score and the more other debt you had, the closer a lender should look.
If your loan was fine at the beginning and only caused problems later when you lost your job or your mortgage repayments went up, you are unlikely to win an affordability complaint as this could not have been predicted at the start.
Reasons to complain.
- Your bank statements and credit record show that you were unable to afford the loan repayments.
- You were given a large loan, and the lender knew you had a poor credit and may have been in a difficult position so they should have tried to verify your income and expenses. If they had done this, they would have rejected your application.
- During a loan application telephone call, your agent suggested some figures should be lower to get my application accepted.
- If the lender was your bank – they should have seen from your bank account that you were in financial difficulty, if you were using your overdraft a lot, and / or you were only making minimum payments to your credit card from the bank.
How to reclaim large loan interest?
There is no limit as to how far back you can claim; To claim back catalogue interest, we need the name of the loan provider your account was held with. In case your loan claim is successful, you may be entitled to a refund of all the monthly/annual interest you have paid for your account and interest on top at the rate that is recommended by the Financial Services Ombudsman which is currently 8%.
How can we help you with large loan interest refund claims?
We will help you to investigate your claims on a no-win-no-fee basis. You will not have to pay any money up-front until the case is completed. We will cover the legal costs of the claim, you only pay if the claim is successful from your compensation refund.
It means that you have potentially nothing to lose, and if you are awarded the compensation, gain of money.
Our service
No win no fee
You will never be asked to outlay any money upfront. We only get paid if the claim is successful and you receive compensation.
Claim online
You can complete the full claim process online by signing the legal agreement and providing the required documents.
Claim on the phone
You can complete the full claim process over the telephone were a claims manager will complete a fact find and prepopulate all the information onto our legal document for signing.
Regular updates
We will provide you with regular updates whenever we receive any responses from the opponent on your case all the way to completion.
Best outcome
We strive to get you the best possible compensation outcome on your case and will liaise with the opponent on various legal arguments to try and achieve the maximum compensation possible.
Better financial position
Our aim is to put you in a better financial position than before you started the claim by achieving refunds of interest and charges paid as well as achieving a freeze on interest if any balance is left over. We also ask for any adverse credit information to be amended on your credit file.
Join 1000's of customers across the UK. Who have "Received a refund of interest and charges"
Free claim eligibility check
E: info@unaffordablelendingclaim.com
T: 0141 459 0239
Unaffordable lending claim is a trading name of
Park pension recovery service LTD which is regulated by the Financial Conduct Authority, in respect of regulated claims management activities authorisation number 836153.
Important Information
You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.
It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.