In January 2015 the FCA brought in new rules that capped the amount payday lenders are able to charge.
Before 2015, lenders were charging many thousands of percent APR, charging borrowers huge amounts for defaulting on a payment and subsequently charging many times more than the initial amount lent.
Start your free check now to see if you can claim compensation on a payday loan.
The Money Shop
Wage Day Advance
If you answered Yes to any of the above questions, you could be owed £1000's in compensation.
You do not need to use a CMC to make a complaint to a lender or other compensation scheme, such as the Financial Services Compensation Scheme (FSCS). If your complaint is not successful you can refer it to the Financial Ombudsman Service (FOS) yourself fee free.