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My Finance Club Loan Refund Claims

If you ever had a loan from My Finance Club, you may be able to claim compensation if the the lender increased your credit limit without checking you could afford the repayments.

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My Finance Club loan claims

With more people borrowing money external link icon light blue than ever before, many loan providers are performing predatory tactics to mis-sell loans. My Finance Club offers a variety of financial products to customers – so if you believe you were sold an unaffordable loan by them, then you could make a claim against My Finance Club.

What are My Finance Club loan claims?

Many financial lending companies, including My Finance Club, have been offering a variety of financial products such as loans to clients that may have caused financial hardship. As a result of practices such as not performing affordability checks external link icon light blue or presenting misleading information, customers have taken out unaffordable loans that have resulted in a spiral of debt. For those who have been affected by this, there is a way to seek compensation by making an unaffordable loan claim against My Finance Club.

How to check your eligibility for an unaffordable loan claim

If you believe that you’ve been mis-sold a loan, or if the loan proved to be unaffordable, then you may be eligible to make a claim against the loan provider. To find out if you’re eligible to make a claim, consider the following factors:

  • Poor Affordability Assessment: Did My Finance Club perform any form of affordability assessment for your loan?
  • High Interest Rates: Did your loan include high interest rates that were either hidden or hard to understand?
  • Early Repayment Fees: Were you charged for any type of early repayment to the loan?
  • Rolling Loans: Did they suggest that you take out another loan to help you pay off your existing one?
  • Loan Terms: Were the loan terms poorly explained to you or deliberately unclear?

How to make a My Finance Club unaffordable loan claim

Making an unaffordable loan claim against My Finance Club doesn’t have to be stressful. At Claims Bible, we’ve broken down the steps to make the claims process as simple and stress-free as possible. Here’s how it works:

  • Gathering Information: We’ll help you gather all of the right documents and details to support your claim. This includes things like bank statements and terms of the loan.
  • Filing the Complaint: With all of the evidence ready, we can move on to making the complaint against My Finance Club.
  • Reaching Out to My Finance Club: We’ll submit your claim directly to My Finance Club to give them a change to offer a settlement.
  • Advancing to the Financial Ombudsman Service (FOS): If the offer from My Finance Club isn’t sufficient, we may opt to take your complaint to the FOS, external link icon light blue who will impartially review the case.

The deadline to submit your My Finance Club loan claim

It’s important to act quickly with your claim against My Finance Club, as there is a deadline in place for these cases. You have six years from when you were first made aware that the loan was mis-sold to you. There’s also a six-month deadline for claims made to FOS from when you received a final response from My Finance Club about your claim.

How much is a My Finance Club unaffordable loan claim worth?

How much you receive from your claim against My Finance Club will depend on your circumstances. The claim will take into account things like how much interest you paid, the total amount of the loan and the financial hardship that you experienced due to taking out the loan. If your claim is successful, you might receive a refund on the loan principal on top of interest and potential compensation for financial burdens brought about due to the loan.

How to start your claim against My Finance Club

To start your claim against My Finance Club, it really helps to speak with an expert to help guide you through the process. At Claims Bible, we aim to make this process as easy as possible for you. Using our tried-and-tested framework for making a claim, we strive to push your claim through quickly and effectively.

Let Claims Bible help you settle a My Finance Club unaffordable loan claim

Our experts at Claims Bible are here to help you seek compensation for your unaffordable loan from My Finance Club. From supporting you through the legal complexities of your case to partnering you up with the right legal professionals, we take the stress and worry out of making your claim against My Finance Club.

Why choose Claims Bible?

100% Confidentiality

Being discreet is part of our business, our legal representatives will never discuss your case without your permission.

Proven Track Record

So far we’ve handled over 10,000 cases and claimed back over £2,000,000 for our clients so you are in safe hands.

Claim Professionals

We partner with specialist firms so your claim is handled by an expert who is familiar with your type of claim.

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Don’t Delay. Check Now.

Don’t miss out on £100’s or even £1,000’s in compensation you could be entitled to. Checking only takes 5 minutes, so why not do it now?