Sunflower Loans Compensation
Sunflower Loans is a new personal loans product offered by Provdient Financial, one of the oldest companies of short term and doorstep loans. Provident Financial have already had to close their Consumer Credit division due to widespread mis-selling by their brands Provident and Satsuma.
In 2018 Provident also had to pay “almost £169m in compensation to customers’ after mis-selling a particular loan product to customers whilst paying a fine of £2million to the FCA. Sunflower Loans also have the same management as their closed Consumer Credit division. The Financial Ombudsman previously upheld 75% of complaints against them.
Sunflower Loans, which Provident Financial claim is mid-cost, still charge 84.5% APR for loans of £1,000-£4,000. As an example a £2,000 loan repayable over 24 months. 23 monthly payments of £148.10 followed by a final payment of £147.97. Total amount payable is £3,554.27.
If you believe you have had a mis-sold or unaffordable loan from Sunflower Loans then 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 a Sunflower Loans 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. Sunflower 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 a Sunflower loan, you could be eligible to claim compensation. Start your claim below for professionals to guide you through the process.