Morses Club Compensation
As one of the largest UK doorstep loans providers, Morses Club (previously Shopacheck) provides small, short-term loans of £100- £1,500, over a loan period of 35 weeks to 52 weeks with an APR of up to 498.34%.
Doorstep Loans, also known as home credit loans, are used by 1.3 million people in Britain and it’s the practice where a collector comes to your house to collect the repayments, rather than paying them through a bank or standard repayment scheme.
Like Guarantor loans, doorstep loans have come into the spotlight recently, with the Financial Conduct Authority instructing Provident, also a doorstep loan provider, to pay “almost £169m in compensation to customers" after mis-selling a particular loan product to customers.
Other complaints about doorstep loans include people being sold a home credit loan by an agent when they could not afford it. A loan could be unaffordable if you cannot make the repayments without borrowing again.
In their latest numbers, The Financial Ombudsman upheld 67% of complaints against Morses Club PLC. They were also the most complained about subprime lender. In Morses Clubs accounts, millions of pounds has been set aside as a provision for future complaints.
Your Morses Club loan could be unfair if they let you take out multiple loans without doing proper financial checks. We have had success claiming refunds for many Morses Club customers. If you believe you have had a mis-sold or unaffordable loan then start your claim today!
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!
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 Claim a Morses Club 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. In this case you may be refunded your all interest and charges. 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. Morses Club 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 a Morses Club loan, you could be eligible to claim compensation. Start your claim below for professionals to guide you through the process.
Is Morses Club Going bankrupt?
Morses Club has given various indications that they may be in trouble. They have announced that claims against them have been rising. The ex-Morses CEO, Paul Smith, abruptly quit after selling his shares. They have also delayed their financial results, likely due to auditors looking into their potential complaints costs. If a lender becomes insolvent it usually means that claimants don't receive their full refund. As a result, if you want to claim against Morses Club, we recommend doing so as soon as possible.
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.
Low Fees - Our rates are also competitive and lower than many other claims management companies. You pay nothing upfront and we work on a no win no fee basis. A breakdown of our fee structure can be seen here.
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. For more information on how this is calculated 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.
Our Systems Maximises Compensation
After a quick form, our technology identifies if you have claims with other lenders so you get the maximum compensation
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.