💡 Concerned About How a Loan Was Sold to You?
🧠 INTRO: Understanding Mis-Selling – Unaffordable Lending.
If you took out a store card, credit card, or payday loan, you may not have been given clear or complete information about the costs, terms, or potential impact on your finances. Sometimes, products are sold without properly considering whether they are suitable for the customer’s needs or circumstances. If you believe you were not fully informed, or the loan was not affordable for your situation, you may be able to raise a complaint and seek redress. This is called loan mis-selling — and you have the right to challenge it.“You might have been told it was affordable or beneficial, but later found the repayments or interest harder to manage than expected.”You can use our Loan Calculator to understand the potential financial impact.
⚠️ How to Check if You Might Have a Claim
You might have grounds to complain if:- You were approved for a loan despite clear signs you might struggle to repay.
- You were not told the interest rate or the full cost of the borrowing.
- Your financial situation was not properly considered before approval.
- You were encouraged to extend or roll over loans repeatedly.
- You felt pressured into accepting the loan or were not informed of alternatives.
📝 How to Make a Complaint
STEP 1: Locate the Complaints Process
Visit your lender’s website and find the “Complaints” section. This will tell you how to contact them — usually by email or post.STEP 2: Clearly Explain Your Concerns
Outline what happened, why you believe the loan was mis-sold, and how it has affected you. Include relevant dates, amounts, and any supporting information. Lenders have up to 8 weeks to respond. If you are unhappy with their reply or do not receive one within 8 weeks, you can escalate your complaint to the Financial Ombudsman Service: www.financial-ombudsman.org.ukSTEP 3: If You Need More Information
You can make a Data Subject Access Request (DSAR) to your lender to obtain details of your loan history. Provide your full name, date of birth, and previous addresses. They must respond within one month. You have rights. If you think a loan was mis-sold, the complaints process is there to help you seek a fair outcome.
Find the potential cost of your finance
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**Note: For exceeding 120 no. of payments, a group of 12 payments will be combined into a single payment number for better chart visibility.
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Calculator Disclaimer
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, claim approval, agreement or advice by Financial Claims Experts. It does not take into account your personal or financial circumstances.
