Mis-sold Financial
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Mis-sold Financial Claims

Have you ever borrowed money at your mis-sold financial claims, maybe from lenders ? Did you face money troubles because the loans ended up being too expensive? If the lender didn't act responsibly when lending to you, you could be eligible to seek a reimbursement for the interest and fees you paid.

Exploring mis-sold Financial Claims

Mis-sold financial claims lending, also known as home loans or home credit, involves a representative, including those associated with mis-sold financial club, visiting your residence to present a loan offer. This type of lending is favored by individuals seeking the convenience of managing the loan process and repayments right from the comfort of their homes.

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The Requirements for a Mis-sold Financial Claims

If you're considering a doorstep loan, the loan company's representative will ask for proof of identification, your address, and details of your income. The amount you receive typically depends on your income and what you can afford to repay weekly. However, it's essential to note that some companies, like Morses Club, have faced criticism for not conducting thorough affordability checks.

How pricey is a Mis-sold Financial Claims?

The interest rate, or APR, for Mis-sold Financial Claims can soar to 200% or even higher, with weekly repayments spread over six to nine months. While the APR might look tempting compared to standard payday loans, the extended repayment period can make the overall cost comparable. As a rule of thumb, you could end up repaying £300 to £360 for every £200 borrowed.

Irresponsible Lending

Citizens Advice, a prominent charity, has raised concerns about careless lending practices, highlighting instances where individuals were not subjected to thorough checks to ensure their ability to afford Mis-sold Financial Claims.

Pushy Sales Strategies

Concerns about High-Pressure Sales Tactics by lenders have been raised by Citizens Advice. Some agents are known to make unplanned visits, especially during peak spending times like back-to-school or holidays, pressuring individuals dealing with repayment difficulties to take on more debt.

Intimidation

In extreme situations, Citizens Advice has highlighted instances of severe debt collection tactics, including intimidating actions by doorstep lenders who make money by collecting repayments. Shockingly, there have been cases where individuals faced harassment during incredibly challenging times.

Wondering about mis-sold financial claims refunds?

Making a claim is easy! Give us a call for free advice, or apply online. Our team at Pearson Locke Solicitors is here to help with Mis-sold Financial Claims. We specialize in guiding you through the process, ensuring it's hassle-free and straightforward.