Loans2Go Loan Compensation, How Does it Work?
Unfortunately, borrowers are sometimes mis-sold loans. In such circumstances, when borrowers are given loans that they can’t properly afford, their financial situation can worsen from what it was prior to the loan being taken out. In these circumstances, borrowers should be eligible to make a claim.
If you feel you’ve been mis-sold a loan from Loans2Go, Forces Compare can help you with your claim. Click “Start Your Claim” to complete our online form, which is free to submit and takes a matter of minutes to fill in. Once the form has been sent, enquiries should get a response within the next couple of weeks.
At Forces Compare, we can help you make claims on mis-sold loans from a range of different lenders, including Loans2Go, Car Cash Point, Cash ASAP, Cash 4 U and more. Make a claim against mis-sold loans with the help of Forces Compare.
“According to FOS statistics published in March 2021, Guarantor loans in particular were shown to have been upholding a huge 83% unaffordability complaints.”
Your Claim Is In Good Hands
Since their conception in 2013, Allegiant Financial Services Ltd have clawed back over £5om in financial misselling claims.
Why Would I Be Given a Loans2Go Loan Refund?
If you have taken out a loan with Loans2Go, and one or several of the following statements applies to your circumstances you may be entitled to compensation.
- During your application process, you may not have mentioned all of your debts and if this didn’t match with your credit record, the lender should have ensured to reaffirm this.
- It is possible that you underestimated your monthly expenditure due to guesswork or eagerness to be eligible for your loan, and in such circumstances, if your figures appeared too low, your lender should have explored their reliability further.
- At the time of your application did you have a regular income? If you were self-employed during this period or even had overtime that fluctuated, the lender should have looked at this.
- Did you have evidence of recent applications for credit or previous problems on your credit record? The lender should have been conscious of whether your situation appeared to be worsening.
- Whenever you topped up an existing loan, your lender should have ensured to run another set of checks concerning whether this was affordable. Had you missed any previous loan repayments? Had your finances deteriorated since your first loan? If so, the lender should have addressed the fact that their current loan could be unaffordable and as a result, capped any more lending.
Were You Mis-Sold a Loans2Go Loan?
If you think you were mis-sold a Loans2Go loan, you may be eligible for a refund.
- If the loan puts you in a worse financial state than you were prior to borrowing it, even if you really needed the money at the time, the loan should never have been approved by the lender.
- If you were given extensions or top-ups on an existing loan with Loans2Go, but these additions did not undergo appropriate affordability checks, it might worsen the financial pressure of the loan.
Making a Claim Against Loans2Go, How Does it Work?