Reclaiming a Loan Refund is the process of claiming back the interest paid on a loan, when it is found that the lender of the loan has given the borrower the loan irresponsibly.
For example, before a lender can give an individual a loan, they should conduct comprehensive and thorough affordability checks. If these checks are not extensive enough then this is when irresponsible lending can occur. For example, if the lender gives an individual a loan they cannot afford or pay back, the person may cut back on essential living costs in an attempt to keep up with the repayments. This is irresponsible lending.
Everyone who has taken out a Payday Loan, Gurarantor Loan or Doorstep Loan, can reclaim the interest paid on the loan, if it was lent irresponsibly and/or it was found to be unaffordable.
Here at the Reclaim Experts, we are compensation specialists. We offer an online resource showcasing and spotlighting the service of reclaiming loans and other products. We are also a facility that connects our customers to Claims Management Companies who can directly help you claim against irresponsibly lent loans or mis-sold services (like mortages, PPI and PCP).
Our website offers a comprehensive collection of articles, information and blog posts on various subjects to help customers make informed decisions, in addition to highlighting the irresponsibility and injustice of some services.
Our mission is to spotlight mis-sold loans, mortgages and other products, giving people the chance to correct this unfairness and claim back the compensation they deserve. It’s a common situation for people to be unaware that they can claim for something that was mis-sold to them in the beginning and we want to change that.
We are not a Claims Management Company but we work closely with our partners, who are CMCs, to help our customers receive loan refunds for a variety of mis-sold loans including Guarantor Loans, Payday Loans (short term) and Doorstep Loans, in addition to other services such as PPI and PCP Refunds, Marriage Tax Allowance and Mis-sold Mortgages.
If your lender did not make the necessary checks before they gave you the loan, this could be irresponsible lending. It is a lenders responsibly to ensure that people can afford the loan, and not struggle to make the loan payments. If you have found yourself in this situation, this is where we can help.
Many people qualify for a loan claim but do not realise it. You may be able to make a claim especially if you have taken out a payday loan, guarantor loan or doorstep loan in the past.
The exact amount would vary from individual to individual and would depend on the size, and type, of loan.
However, we do have a clever calculator on our website that will give you an idea of how much compensation you may be able to claim as a refund from the lender. Just visit the page here to get started: Loan compensation calculator.
However, please remember that the amount displayed is NOT a confirmation of a refund and the calculator should only be used as a guide before completing your claim.
We have helped our customers reclaim loan refunds against lenders of Guarantor Loans, Payday Loans (short term) and Doorstep Loans.
We have also helped our customers receive compensation against mis-sold mortgages, as well as other financial services including Marriage Tax Allowance, PPI Refunds, PCP Refunds, Car Finance, Diesel Emissions and Solar Panels.
If you have any questions, queries or concerns, please do not hesitate to contact us via [email protected] or through our social media channels.
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