MyKredit Loan Compensation, What's it All About?
Borrowers can often fall into a worse financial situation to what they were in prior to borrowing if the loan in question was mis-sold to them. If you were given a loan you couldn’t properly afford, it should never have been granted in the first place, and you could be eligible to make a claim.
Forces Compare can help you make a claim on mis-sold loans from MyKredit, as well as a number of other lenders, including:
Click the “Start Your Claim” button to be taken to our online form. Here you can fill in your details in a matter of minutes, and submit your enquiry for free. After submitting our online form, you should hear back in just a couple weeks. Claim against MyKredit mis-sold loans with the help of Forces Compare.
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 MyKredit Loan Refund?
If you have taken out a loan with MyKredit, 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 Loan From MyKredit?
Unfortunately, those who are mis-sold loans can often find themselves in a worse-off financial position to what they were in prior to borrowing the loan. Additionally, if you’ve had any top-ups or extensions on a loan that didn’t undergo proper affordability checks, this could exacerbate the financial pressure you feel on the loan.
If you’ve been given a loan from MyKredit that you could not afford, this loan should never have been approved in the first place, and you may be eligible for a refund.