What is a payday loan claim or a short term loan claim?
Payday loans and more recently high cost, short term “flexible” loans have increased in popularity over recent years. A payday loan is usually lent for a month at a time, with a promise by the borrower to repay the lender on their next payday. Short term loans are very similar. However, these loans are usually repayable over a longer period such as 3 or 6 months.
Both payday and short term loans are typically offered online and advertised as quick and easy to apply for. Some UK retailers also sell these products on the high street.
It is a sad reality that many hardworking people struggle to find ways to meet their day to day living expenditure and have difficulty obtaining more conventional forms of credit. Many turn to payday loan or short term loans to bridge the gap.
However, when the time to pay the loan repayment comes around (and the additional interest), many borrowers find themselves needing to extend their loan, re-borrow or increase borrowing. This creates a vicious repeat borrowing trap. Before the borrower knows it, the payday or short term loan cycle becomes a long term way of surviving. Where this happens, there is a good chance the loans have become unaffordable, and the lender should be aware.
Fight back – like thousands of customers already have.
If this all sounds too familiar, we can help claim for compensation. We’ve reclaimed millions of pounds for UK consumers mis-sold payday / short term loans.
Our Unaffordable Lending Claims Process
We realise that claiming against a high cost loan lender can seem daunting. We aim to make the claiming process as simple as possible. We specialise in affordability claims. Our experienced team will communicate with the lender (and where required, the Ombudsman service) on your behalf. We use bespoke technology to ensure efficient claims handling. Throughout the process, we inform you of claim progress using a “stage process”, so you can track your progress easily. Please remember though, that you do not need to use a claims management company to make your complaint to your lender, and if your complaint is not successful you can refer it to the Financial Ombudsman Service yourself for free.
Pre complaint investigation and analysis
Formal mis-selling complaint made
Lender responds with a Final Response Letter
If appropriate resolution cannot be reached with the lender, referral to Financial Ombudsman Service.
We are one of the few claims management companies that offers a “No Cash, No Fee” service. This means our success fee is only charged on the actual cash you receive – not on debt deductions applied by your lender. To put it simply, you’ll never be left with less cash in your pocket than you began with if you use us.
Our standard success fee is 30% inclusive of VAT calculated on the cash-in-hand that you receive. It couldn’t be more simple.
Please enter a numeric value.
Please enter a numeric value.
- Our fee £. This fee includes VAT.
- £ Cash in hand after you pay our fee.
To be clear, we do not charge the success fee for tax deductions or debt deductions of any kind.
Working fee examples:
- If you are awarded £0 in redress/compensation, there is no charge
- If you are awarded £1,000 in redress our success fee would be £300 (inc. VAT)
- If you are awarded £3,000 in redress our success fee would be £900 (inc. VAT)
- If you awarded £10,000 in redress our success fee would be £3,000 (inc. VAT)
- If you have an active loan or arrears, the lender will likely reduce or wholly offset any cash in hand you receive. In this scenario, the success fee will be calculated on the cash in hand you receive, for example:
If you are awarded £1,000 in redress but your lender also deducts £500 for outstanding liabilities, our success fee is calculated on £500 cash in hand. Our success fee would be = £150 (inc. VAT).
But don’t just take our word for it – why not try our calculator to see how our fees work on a hypothetical award:-
The Smart Choice For Unaffordable Lending Claim Representation
A trusted name
Allegiant Finance Services is widely regarded as a pioneer in the high cost loan claims management market.
Friendly and experienced advisors
Contactable by email, phone, live chat or post, whichever you prefer
Confidential & Discreet
We will only correspond with you and keep your details secure. We’ll never sell your data.
True Online Application System
Much more than a contact form. With our full online application process you will receive an instant automated decision on whether we can take on your claim
Over £50+ million recovered
We are proud to have recovered £millions on behalf of our customers
Proven Track Record
We’ve been claiming high cost loan refunds since 2013