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Salary Finance Loan Refund Claims

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

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Salary Finance loan claims

Salary Finance is a financial provider that offers customers a number of different financial products such as loans. However, many of these providers are failing their customers by offering unaffordable loans that prove to be too difficult to pay back. Whether this is due to poor practices like attaching very high interest rates to loans or poor affordability checks, external link icon light blue the end result is many customers experiencing a spiral of debt. Thankfully, there is a way to seek compensation by making an unaffordable loan claim against Salary Finance. At Claims Bible, we can help you understand how this process works and guide you to a successful claim.

What are Salary Finance loan claims?

Salary Finance has been providing customers with a number of different loan products to provide funds for a variety of purposes. However, many people who take out these types of loans have experienced significant financial difficulties after taking them out. By using dubious tactics to convince customers to take out unaffordable loans, some providers have placed many people in dire financial situations. So, if you feel that this is relevant to your circumstances, you might be eligible to make an unaffordable loan claim.

How to check your eligibility for an unaffordable loan claim

It’s important to check your eligibility for making an unaffordable loan claim against Salary Finance before embarking on this process. To help, our specialists at Claims Bible will look into your case to determine whether or not you’re eligible to claim. We look at several aspects of your loan, including:
  • Insufficient Affordability Assessments: If Salary Finance didn’t carry out a comprehensive affordability assessment before offering you a loan, then you might be eligible to make a claim.
  • Excessive Interest Rates: If the interest rates associated with your loan were excessively high, then it could be viewed as an unaffordable loan.
  • Early Repayment Charges: If Salary Finance penalised you with early repayment charges on your loan, then you could make a claim.
  • Rolling Loans: If Salary Finance offered you a second loan to pay off your first loan, then this could be grounds to make a claim.
  • Vague Loan Terms: If the loan terms were vague, confusing or ambiguous, then you might have a case to make a claim against Salary Finance.

How to make a Salary Finance unaffordable loan claim

If you want to seek compensation for an unaffordable loan provided by Salary Finance, then our team at Claims Bible is here to help. We have a useful framework to make the process of making your claim easy, stress-free and as effective as possible. Here’s how we do it:
  • Finding Evidence: We’ll need some evidence to back up your claim against Salary Finance. This might incorporate things like bank statements, loan terms and other communications between you and Salary Finance.
  • Making Your Complaint: We’ll then move onto creating a complaint that brings together the evidence we have for your case. This will help create a compelling case when it comes to potential settlements.
  • Complaining to Salary Finance: When we have your complaint ready, we’ll then send it to Salary Finance directly. This will give them a chance to respond with a settlement.
  • Complaining to the Financial Ombudsman Service (FOS): If we can’t reach an agreement with Salary Finance, then we’ll move our claim over to the FOS. This impartial body can provide an impartial ruling via a tribunal external link icon light blue that can provide you with the compensation you seek.

The deadline to submit your Salary Finance loan claim

All unaffordable loan claims have certain deadlines external link icon light blue attached to them, so it’s important to make sure your claim is still within these time limits. There is a six year limit on making claims against Salary Finance which starts from the time you realised the loan was unaffordable. Another possible deadline to consider is how long you have to escalate the case to the FOS. This deadline is six months from when you received a final response from Salary Finance regarding your initial claim.

How much is a Salary Finance unaffordable loan claim worth?

Unaffordable loan claim settlements and compensation is based on several factors that are specific to your case. So, there isn’t a definitive amount of money that you should expect to receive. Things like the initial loan amount, the level of interest you paid and the significance of the financial hardships you endured will all be factored into the final outcome. You could receive the full amount of the loan back, as well as any interest paid and further compensation for the financial difficulties brought about from the loan.

How to start your claim against Salary Finance

If you’re ready to start your claim against Salary Finance, it’s important to speak with an expert on this matter. At Claims Bible, we’re here to help you understand how your claim is likely to go, as well as helping you create and file your claim. Our role is to give you the best chance of success in this type of claim against Salary Finance. We help you from start-to-finish to make the process as easy and stress-free as possible.

Let Claims Bible help you settle a Salary Finance unaffordable loan claim

Our experts at Claims Bible have extensive experience in helping clients make Salary Finance unaffordable loan claims. From helping you create a compelling case to teaming you up with a competent legal professional, we’re on your side every step of the way.

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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