Payday Loan Refunds

If you took out a Payday loan, you could be owed thousands of pounds in compensation.

No Win, No Fee* Tick

Free Payday Lender Check Tick

Over £1 Million Claimed Back For Our Clients Tick

Why a payday lender claim is possible

In January 2015 the FCA brought in new rules that capped the amount payday lenders are able to charge.

  • Cost cap of 0.8% interest a day
  • Default fees capped at £15
  • Total cost cap of 100%
    (Meaning borrowers never have to pay back more in fees and interest than the amount borrowed)

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.

Some of the lenders we can claim from

Payday lender Compensation

The Money Shop

Payday lender Compensation

PaydayUK

Payday lender Compensation

QuickQuid

Payday lender Compensation

Sunny Loans

Payday lender Compensation

Wage Day Advance

Payday lender Compensation

Lending Stream

Payday lender Compensation

Swift Money

Payday lender Compensation

247 Moneybox

Am I able to claim?

  • Tick Was the payday loan used to pay off other debt?
  • Tick Was the lender unclear about exactly how much the full loan would cost?
  • Tick Were the monthly repayments too high and left you short each month for other bills and needs?
  • Tick Did the lender not make the proper affordability checks to make sure you could afford to clear this loan without going into arrears?
  • Tick Did your loan roll from month to month?
  • Tick Did you have to borrow from another lender to pay off the initial payday loan?
  • Tick Did the lender take out automatic payments?
  • Tick Did the lender encourage you to borrow more?

If you answered Yes to any of the above questions, you could be owed £1000's in compensation.

What could I be due?

  • A full refund of the initial loan amount Tick
  • A refund of the interest paid on on the loan Tick
  • An additional 8% interest for every year that has passed since you were mis-sold the policy Tick

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.