Everyday Loans Compensation
Everyday Loans is the market leader in unsecured branch-based lending to non-standard customers with 73 branches open on 30 June 2020.
They lend between £1,000 to £15,000 their representative APR is 99.9%. As an example: Borrowing £3,000 over 24 months at an interest rate of 71.3% p.a. (fixed), you will repay 24 monthly payments of £237.75 per month. Interest Payable £2,706. Total Repayable £5,706. Representative 99.9% APR.
Like 118 money and Likely Loans, Everyday Loans is a high-cost commercial lender. People often use these to try to consolidate payday loans, but at 99.9% interest rates, these large loans over years trap borrowers into long-term unaffordable debt.
In their latest numbers, The Financial Ombudsman upheld 48% of complaints against Everyday Lending Limited, who own Everyday Loans and Trust Two.
If you believe you have had a mis-sold or unaffordable loan then we can help you get compensation. Start your claim today!
For Hassle-Free Refunds
A claims specialist
can do all the hard work so you don't need to!
Making a claim is simple. With just a few details you can start your application.
No Win, No Fee
You are only charged after the claim has been won and you have your refund!
You do not need to use a claims management company to make your complaint to your lender. If your complaint is not successful you can refer it to the Financial Ombudsman Service yourself for free.
Why could I receive an Everyday Loans Loan Refund?
There are various reasons why you may be due a refund from a lender. The main reason for a claim is that the loan was unaffordable. These are general signs that the lender did not perform sufficient affordability checks:
The amount borrowed increased loan by loan without reassessing your situation
The loan was extended each month without reassessing your situation
You were struggling to pay essentials (rent, bills, food) because of my repayments
You had to borrow money from another lender to pay back a loan or cover essentials
Your income changed between taking out and repaying the loan but the lender didn’t check
The lender didn’t ask you any questions to confirm that I would be able to repay the loan in a sustainable way
You rolled over your loans
Even if during your application process, you did not mentioned all of your debts or stated your correct regular income. Everyday Loans should have checked your credit record and ensured you had a regular, consistent income before giving you a loan.
If any of the above statements describe your experience with Everyday Loans, you could be eligible to claim compensation. Start your claim below for professionals to guide you through the process.