Good to know: We are a Claims Management Company (CMC). You do not need to use a CMC to make your complaint to your lender. If your complaint is not successful you can refer it to the Financial Ombudsman Service yourself for free.
Good to know: We are a Claims Management Company (CMC). You do not need to use a CMC to make your complaint to your lender. If your complaint is not successful you can refer it to the Financial Ombudsman Service yourself for free.
The Financial Ombudsman Service (FOS) has upheld multiple complaints against 118 118 Money for irresponsible lending. If you were given a loan or credit that you couldn’t afford, you may have a strong case for a refund.
Key reasons why the FOS has upheld 118 118 refund claims include:
The FOS found that 118 118 Money often failed to carry out proper checks to make sure customers could afford their loans. In many cases, they didn’t look carefully enough at a customer’s income, expenses, and other debts. This meant people were approved for credit they couldn’t sustainably repay. (FOS Decision)
The FOS has ruled that 118 118 Money provided loans that were unfair. In a nutshell, this means they offered credit to customers who weren’t in a position to manage the repayments. If this happened to you, it may have left you struggling financially and trapped in a cycle of debt. (FOS Decision)
118 118 Money is required to show forbearance. This means they should treat you fairly if you were in financial difficulty. If they failed to help or kept charging fees and interest when you couldn’t afford to pay, you may be able to claim a refund for that too.
The FOS has also awarded compensation for the distress and inconvenience caused by 118 118 irresponsible lending. If you’ve suffered stress or financial hardship because of 118 118’s lending practices, you could be entitled to a refund and compensation for the trouble caused.
If you borrowed from 118 118 Money and weren’t treated fairly, Allegiant can help. We handle 118 118 claims on a no win, no fee basis—meaning there’s nothing to pay upfront, and you only pay if we succeed in your claim.
Citations:
[1] https://www.financial-ombudsman.org.uk/decision/DRN9252392.pdf
[2] https://www.financial-ombudsman.org.uk/decision/DRN-3467997.pdf
We realise that claiming against your 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 unaffordable lending complaint made
Lender responds with a Final Response Letter
If appropriate resolution cannot be reached with the lender, referral to Financial Ombudsman Service.
Our success fee is due only if your lender makes a compensation payout, and is calculated on the amount of the compensation payout. We do not charge you for any part of a settlement that results in the lender reducing your outstanding balance – that is on the house!
The success fee amount is calculated using a band charging system. There are five charging bands. Each band has a maximum amount that we will charge.
Success Fee Charging Table
| Band | Compensation Payout | Percentage rate the Success Fee is calculated on (including VAT) | Maximum Success Fee in band (including VAT) |
| 1 | £1 to £1,499 | 36% | £504 |
| 2 | £1,500 to £9,999 | 33.60% | £3,000 |
| 3 | £10,000 to £24,999 | 30% | £6,000 |
| 4 | £25,000 to £49,999 | 24% | £,9000 |
| 5 | £50,000 or more | 18% | £12,000 |
Below are examples of how this would work in practice.
| Lower example | Higher example | |||
| Band | Compensation Payout | Success Fee | Compensation Payout | Success Fee |
| 1 | £100 | £36 | £1,499 | £504 |
| 2 | £1,600 | £537.60 | £9,999 | £3,000 |
| 3 | £12,000 | £3,600 | £24,999 | £6,000 |
| 4 | £30,350 | £7,284 | £49,999 | £9,000 |
| 5 | £55,000 | £9,900 | £100,000 | £12,000 |
If you want to see how much we would charge for a specific amount, please visit our online fee calculator at https://allegiant.co.uk/unaffordable-lending-claim-fees.
Please note that the examples in the tables are for illustration purposes only. They are not an estimate of the likely outcome or success fee.
You can cancel for free at any time within 14-days without giving any reason and without incurring any liability. You can communicate your cancellation by telephone, post, email or online.
You can cancel this agreement at any time after the 14-day cancellation period. However, if a complaint submitted by us is successful, the Success Fee will apply in the usual way.
You can cancel by post: Allegiant Finance Services Limited, Freepost RTYU–XUTZ–YKJC, 400 Chadwick House, Warrington Road, Birchwood Park, Warrington, WA3 6AE; (b) by email: helpdesk@allegiant-finance.co.uk; (c) by telephone: 0345 544 1563; or (d) online at https://allegiant.co.uk/compliance/cancellation.
Allegiant Finance Services is widely regarded as a pioneer in the high cost loan claims management market.
Contactable by email, phone, or post, whichever you prefer
We will only correspond with you and keep your details secure. We’ll never sell your data.
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
We are proud to have recovered over £67m for unaffordable lending claims since 2013
We’ve been claiming high cost loan refunds since 2013
Good to know: We are a Claims Management Company (CMC). You do not need to use a CMC to make your complaint to your lender. If your complaint is not successful you can refer it to the Financial Ombudsman Service yourself for free.
