MoneyBoat Loan Compensation, How Does it Work?
Some borrowers unfortunately get mis-sold loans, putting them in a worse financial position than they were in before borrowing, by providing them with loans they can’t properly afford. If you feel that you’ve been mis-sold a loan from MoneyBoat, you could be eligible to make a claim, and Forces Compare can help you make this.
Simply click on “Start Your Claim”, fill in our online form, and someone will get back to you regarding your enquiry in the next couple of weeks. Our online form only takes a few minutes to complete, and is free to submit.
Forces Compare can also help you to make claims against a range of other providers, including Car Cash Point, Cash ASAP, Cash 4 U, Loans2Go and more. Make a claim with the help of Forces Compare today!
“According to FOS statistics published in March 2021, Guarantor loans in particular were shown to have been upholding a huge 83% unaffordability complaints.”
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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 Could I Be Given a MoneyBoat Loan Refund?
If you have taken out a loan with MoneyBoat, 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 MoneyBoat Loan?
If you’ve been mis-sold a MoneyBoat loan, you should consider making a claim, as you might be eligible for a refund.
- While you might’ve needed to borrow money, if you end up in a worse financial position than you were in before borrowing, and as a result of the loan, this loan should never have been approved in the first place.
- Did you receive any extensions or top-ups on your loan? Did these undergo proper affordability checks? If you feel any add-ons to an existing loan didn’t go through adequate affordability checks, and this has worsened the financial pressure on the loan, these should not have been provided by the lender.
Making a Claim Against MoneyBoat, How it Works:
