MyJar Refund Claims

MyJar Refund Claims

MyJar are a flexible direct lender providing short-term loans of from £100 to £2000, for 3, 6 and 12 months. MyJar started out in 2008 offering straightforward, high-interest payday loans. It has issued more than 2 million short term loans online, totalling £405 million. MyJar also offers instalment loans, borrowers make a repayment each month, which pays off part of the capital (the original amount borrowed) as well as the interest accrued so far.

Unlike many other lenders, MyJar have not been fined by either the Financial Conduct Authority of the Financial Services Authority, however, in 2014 a Which? Investigation found that many payday lenders were charging unfair fees, including MyJar.

MyJar’s website offers an interesting insight into it’s complaints report, with 57 credit-related complaints per 1,000 accounts. In 2019, there were 6825 complaints opened, with 19% of these complaints being upheld, meaning that there was validity in those complaints.

Have you been in the same position, in you took out a loan with MyJar but then this put you into more financial difficulties?

What type of loans do MyJar offer?
– Short-term Loans
– Payday Loans

MyJar Eligibility Requirements:
Minimum age of 18, with a “regular source of income”.

MyJar Loan Example: Borrow £300 for 3 months. Annual interest rate 274% (fixed). 3 equal installments of £148.02.
Total amount to repay £444.06. Representative 1081% APR.

MyJar is registered at the following address: MyJar, Unit 22426, Po Box 7169, Poole, Dorset, BH15 9EL
Telephone Number: 0203 006 2000

Why could I receive a MyJar Loan Refund?

• When you applied for the loan, you may have not stated your correct regular income, due to be self-employed or your job history changing during this time. MyJar should have looked at this and ensured you had a regular, consistent income before giving you a loan.
• During your application process, you may have not mentioned all of your debts. If this didn’t match with your credit record, MYJAR should have ensured to double check this.
• You may have underestimated your monthly outgoings when you took out the loan, due to estimations or eagerness to be eligible for your loan due to the circumstances you were in, causing you not to be able to afford the monthly repayments. If your monthly outgoings were too low, MYJAR should have explored whether these were correct or not.

Did you take out a loan from MyJar but found that you were unable to pay the loan? You could be eligible to claim compensation if the correct due diligence checks were not made. Start your claim, by just clicking on the button below, or get in touch with the experienced Reclaim Experts team who will guide you through the process. We are here to help.