Progressive Money Loans Compensation

Have you ever had a Progressive Money Loan?
You could be eligible to make a claim.
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Claim on Mis-Sold Loans From Progressive Money

Have you been mis-sold a loan from Progressive Money? You could be eligible to make a claim. When borrowers are sold loans they can’t afford, it can put them in a worse financial position to what they were in prior to getting the loan.

Forces Compare can help you to make a claim on mis-sold loans from Progressive Money, as well as a number of other lenders, such as:

Start Your Claim today with Forces Compare. Our online form is fast, easy and free to submit. Once submitted, you should hear back about your enquiry in just a couple of weeks. Fight back against mis-sold loans with 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.”

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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 Would I Be Given a Progressive Money Loan Refund?

If you have taken out a loan with Progressive Money, 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.
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Mis-Sold a Loan From Progressive Money?

If you’ve been sold a loan you couldn’t afford, you could be eligible for a refund.

If the borrower finds themselves in a worse financial position as a result of the loan, it should have never been granted at all. Additionally, top-ups and extensions on pre-existing loans should also never be granted without proper affordability checks, as without this, they could end up adding a greater, unmanageable financial pressure.

How Does it Work?

allegiant procedure

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