Payday Loans and PPI

Payday Loans

Have you ever taken out a payday loan? This type of borrowing can be beneficial in the short term as it enables access to cash quickly and easily however payday loans taken before the 2nd January 2015 had extortionate interest rates. After the 2nd January 2015 Payday Loan companies have had the interest they can charge capped meaning many payday loan companies have had to close.

Payday loan companies must complete sufficient checks to confirm any loan is affordable and must also check the financial background of any applicants. Also any fees or charges must be clearly explained.

If you feel the charges and fees were not made clear to you, you had to continually take out payday loans to make repayments or you could not afford basic living costs because of the repayments, your payday loan may have been mis-sold. We can help you reclaim a full refund of interest and charges plus statutory interest of 8%.

PPI

More and more people are also still reclaiming money from mis-sold Payment protection insurance (PPI).

PPI can be a useful insurance, however many PPI policies have been mis-sold alongside loans, credit cards and mortgages. Many lenders were responsible for mis-selling this policy. Bank of Scotland, Lloyds TSB, Barclays, MBNA, HSBC, Capital One, RBS, NatWest, Nationwide, Santander were listed as the top 10 firms for having PPI complaints raised against them.

It is possible to re-claim this money if you have been mis-sold the policy. If you had a loan, mortgage, credit card or any other sort of credit and believe you may have paid PPI on it then we can reclaim this for you. Even if you are unsure we can find out for you and pursue a claim. With payouts reaching up to £80,000, why let the creditors keep money which is rightfully yours?

To contact our Payday Loans and PPI team, please call 01744 454433, or email howard.nulty@sthelenslaw.co.uk or nicola.case@sthelenslaw.co.uk >