Claim your SafetyNet payday loan refund
This lender offers a flexible credit line with a direct link to your bank account allowing smart-top ups if you approach your overdraft and auto repayments if your bank balance increases. If you’ve borrowed from SafeyNet in the past you could have a claim.
Who are SafetyNet?
SafeyNet are a trading style of Indigo Michael Ltd established in 2011. Unlike other loan companies SafetyNet offer a flexible line of credit of up to £500 to new customers and £1000 to repeat customers at 0.8% interest per day. Their USP is that they use Open Banking to link to your bank account allowing them to monitor your account and either top up or repay as required.
What’s the current situation?
SafetyNet have a 48.9m loan book (Year End 2020 – Companies House ) and are showing growth from the previous year, 2019. Their profit after tax saw a 555% jump from 2019 to 2020, which suggests they are in good financial standing. If you’ve had a loan from them in the past, you should check your claim now.
What is the deadline?
SafetyNet are lending in Jan 2022 and have shown growth in recent years. They have a defendable USP which could protect them against competition in the market. This means there’s no immediate deadline and you can start your claim immediately.
The FOS are upholding claims against SafetyNet as reported in this case in 2016. The FOS ruled that the information they had suggested the claimant was living beyond his means and therefore further borrowing should not have been granted, suggesting that SafetyNet may have been lending irresponsibly. If you’ve had a loan with SafetyNet in the past, you should check now.
Based on our own data, the average claim is £1,604.06*
*Data from cash refund offers received by Clear Legal Marketing Limited’s clients between 1st May 2021 and 30th April 2022.
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