Moneybarn Claims & Refunds
If you have been mis-sold a car finance loan from Moneybarn, we can help you claim the compensation you are owed. Our largest Moneybarn refund to date is £12,000. Find out how much you may be owed!
Free Assessment | Thousands Have Been Refunded | Highly Reviewed Experts
Our Moneybarn claims handler has a 4.6* Trustpilot score
"They have done it again. After fees paid to them £3200 in the bank, money that was long gone 10 years ago. Thank you very much . Laura was extremely helpful this morning Very much appreciated." - RY, Trustpilot
"You helped me a lot, saved me from bankruptcy. Very professional. I want to thank you all for your effort. You save me and my kids." - SH, Trustpilot
"Very good service . I received great results with little effort" - LC, Trustpilot
"Excellent support and service. I received back approx £3,500. Highly recommended and easy to deal with." - KW, Trustpilot
You need to act quickly as there are statutory deadlines, known as limitation periods, that apply to mis-selling claims. Start your claim today for professionals to guide you through the process.
For Hassle-Free Refunds
A claims specialist
can do all the hard work so you don't need to!
Simple Process
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!
We are a claims management company that can help establish and process claims on behalf of consumers to recover compensation against various types of lenders. You do not need to use a claims management company to make your complaint to your lender or the Financial Ombudsman for free.
Moneybarn Claims
In February 2020, Moneybarn was in the headlines after being fined £33 million as a result of the Financial Conduct Authority's findings that Money had not treated customers fairly when they fell behind on repayments.
Over 6,000 customers were given car finance refunds after the FCA found that the “lender didn’t sufficiently communicate what would happen if they defaulted on payments before taking out an agreement”.
The exact figure that each customer received is unknown, but an equal share of the pay-out is around £5,000 for each individual.
Moneybarn’s representative APR is 31.9%. This makes it one of the most expensive PCP finance available. As an example of this APR in action: If you borrowed £10,000 over 60 months, with monthly payments of £313.86, you would repay a total of £18,517.74, of which £8,517.74 would be interest.
In their latest numbers, The Financial Ombudsman upheld 29% of complaints against Moneybarn No.1 Limited.
Due to their high-interest rates, Moneybarn has collected hundreds of millions in interest payments. However, many of these loans may have been unaffordable. In these cases the customer will be due a refund.
If you believe you have had a mis-sold or unaffordable loan from Moneybarn then we can help you get compensation. Start your claim today!
Maximise Your Compensation
After obtaining a credit report, we will review your previous borrowing and can help you claim from an extensive list of lenders.
Your complaint is handled by professionals
Your claim will be handled by an experienced team, who will complain to your lender on your behalf.
Reclaimed funds to be Transferred
After a claim is successful, the redress money is transferred straight to you.
Was My Moneybarn Loan Mis-sold?
Your Moneybarn loan was mis-sold if the loan was unaffordable or the lender did not perform proper affordable ability checks. Signs that your loan(s) may have been unaffordable include:
You frequently consolidated loans or borrowed shortly after repaying a loan
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Your loans from a single lender were regularly increasing in size
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You missed some repayments
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You made some repayments late
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The loan repayment was a substantial part of your disposable income
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You were using one form of debt to fund another.
Don’t worry if you can’t find the agreement or remember who the dealership was. You just need the name of the company you made the payments to. You should be able to find this information on your old bank statements.
If you think you have a claim, you need to act quickly as there are statutory deadlines, known as limitation periods, that apply to mis-selling claims. If your car finance product was taken out over six years ago, you can still claim if you only became aware of the potential claim within the last 3 years.
If any of the above statements describe your experience with Moneybarn, you could be eligible to claim compensation. Start your claim below for professionals to guide you through the process.
No Win, No Fee
You are only charged after the claim has been won and you have your refund! The success fee is calculated as a percentage of the total compensation you receive. If we are not able to obtain an offer you will not be charged. You can read more about fees here.
If you cancel your agreement with us or break your agreement with us before the end of the process we will charge you a cancellation fee.
FAQs
Can I get a refund from Moneybarn and how much?
You will be entitled to a refund from Moneybarn if the loan is deemed as unaffordable. We make a case to the company, and then the Financial Ombudsman, to get this agreed upon. You receive a refund on charges and interest on your loans, plus you will get 8% interest on any refund.
Why Use The Claims Guide For My Claim?
Help Maximising Claims - We will go through your previous borrowing and help you claim from an extensive list of lenders. Other claims companies will more likely turn you away if you are not claiming against one of their few approved lenders
We Make It Easy - Claiming a refund can be a daunting task. We make it easy and ensure everything you need is included so you don't have to spend much time on it.
Professional - Each claim is different and specific circumstances that are relevant to the claim should be explained by a professional. The Financial Ombudsman has previously been unable to progress some complaints that involved a “template” or “standard letter”.
How Much Will I Receive If My Claim Is Successful?
If you successfully claim a refund from a lender, you can claim back the interest and charges on your loans, plus, typically, 8% statutory interest. To find out how much you can click here.
What Information Do I Need to Provide?
You just need to provide the name of your lender and your personal details including the address that you lived at when registering with them. Once you have given these we can obtain details of any loans where a refund may be due.
How much will I be charged?
Claiming through us always works on a no win no fee basis, meaning you won't pay a thing unless you win compensation. You will have the right to cancel the agreement within 14 days with no penalty. If you cancel after 14 days you may be charged for work done up until the time of cancellation. We use multiple partners to ensure we are able to offer claims against all lenders, from whom we receive payments. The exact fee structure will depend on which lender you are claiming against, as this decides which of our partners is most suitable for your claim. A breakdown of our fee structure can be seen here. The fees for Diesel Emissions Claims are calculated differently due to it being a group action lawsuit.
How Do I Submit My Claim?
Simply complete our online application form by clicking on the "Get Started" button. This is the first stage of your complaint to the payday lender where you could receive compensation. For more information on the process please click here.