Every year £millions of payday loans are issued – many of them leading on to further borrowing and financial problems. If any of the following sounds familiar to you then you may be entitled to claim.
1. Fees or charges not clear?
When you took out your payday loans were the charges and associated fees made absolutely clear to you?
2. Unable to pay bills?
Your payments for the payday loan were so large that you struggled to pay for your monthly essentials e.g bills, mortgage.
3. Rolling over loans?
You had to take out a further payday loan to pay the initial one back, supporting unaffordability.
4. Lenders taking automatic payments?
Automatic payments being taken from your account put you in difficulty to pay other essentials.
5. Encouraged to borrow further?
Lender’s ‘good customer’ offers promoted regular use and the ability to get better deals the more you borrow.
6. Unfair lending
Despite clearly not being able to pay the first loan back, your lender continued to offer more through consolidation.