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 has 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 £2 million 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 that is repayable over 24 months. 23 monthly payments of £148.10 followed by a final payment of £147.97. The 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!
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!
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
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The loan was extended each month without reassessing your situation
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You were struggling to pay essentials (rent, bills, food) because of my repayments
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You had to borrow money from another lender to pay back a loan or cover essentials
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Your income changed between taking out and repaying the loan but the lender didn’t check
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The lender didn’t ask you any questions to confirm that I would be able to repay the loan in a sustainable way
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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.
FAQs
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.
Maximise Your Compensation
We will go through 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.