Have you had a catalogue, credit card or overdraft where you were given a high credit limit? So high that the monthly repayments were hard to manage so you got into more debt? Many people were originally given sensible limits, but the lender kept increasing them. You may have a good complaint that the lender was irresponsible in allowing you to borrow so much that the debt was … [Read more...]
The articles here look at how affordability complaints can be made for different sorts of borrowing. Most of them have a template letter you can use.
Refunds of interest from large, high cost loans & logbook loans
The repayments on many loans from bad credit lenders are too high to be manageable so people get deeper into debt trying to repay them. If you have an unaffordable loan, you can complain and ask for interest to be removed from your balance. If the loan has been settled, you can ask for a refund of the interest you paid. This article describes how to complain, with templates. It is a … [Read more...]
How the borrower of a guarantor loan can complain
UPDATE: Amigo proposing a Scheme of Arrangement, see Amigo’s Scheme - timetable for approval & how it may work. This is early days - nothing may happen - if it goes forward all customers will be asked to vote to approve it. Guarantor loans are very expensive. Often the lender didn’t check properly that you will be able to manage the loan repayments without having to borrow more. If … [Read more...]
How to complain when you are the guarantor for a loan
UPDATE: Amigo proposing a Scheme of Arrangement, see Amigo’s Scheme - timetable for approval & how it may work. This is early days - nothing may happen - if it goes forward all customers will be asked to vote to approve it. If you are a guarantor for a loan you can ask to be removed as the guarantor: if you couldn't afford to repay the loan without difficulty; or you were … [Read more...]
A template letter to ask for a refund from Provident – how to to use this
If you had doorstep loans from lender such as Provident, you may be able to get a refund of the interest you paid if the lender should have realised the loan was unaffordable for you. Doorstep lending - also called home credit - is where a collector comes to your house to collect the repayments. Doorstep loans are used by over 1.3 million people in Britain. Many people have been borrowing … [Read more...]
How to get a payday loan refund – with template letters that work
Did your payday loans cost so much when you repaid one you had to keep on borrowing? You can get a refund of the interest you paid on unaffordable loans. It's easy to ask for a payday loan refund using the free template letters here. The letters work if your payday loans were repaid or if you still owe money. This article covers everything you need to get started. It's easy, free and many … [Read more...]
Were you sold a car on unaffordable finance?
The FCA has published its long-awaited review of car finance: Our work on motor finance – final findings. This work began back in April 2017. News reporting has seized on the FCA's findings that commission structures give dealers an incentive to charge higher interest rates. For example: Car buyers overcharged £1,000 by dealers for loans, says watchdog. But here I am interested in the FCA's … [Read more...]