We are probably the most experienced Payday Loan Claim Specialists in the UK. We are 100% dedicated to Payday Loan refunds. We do nothing else but fight payday lenders to get a refund for our customers.
We will aim to get back:
All Interest Paid
All charges and Fees
PLUS 8% Interest per Year
Start your claim
The application is simple, we just need a few personal details and the names of the lenders who you had the loans with and away we go. We move quickly and you will never be waiting days for us to respond.
We offer a genuine No Win No Fee service. If you don’t win, you don’t pay us anything. Our fee when we win is simply 25% plus vat of the amount the lender offers. You can cancel right up to the point of an offer being made - no questions asked.
We do get asked quite often if making a claim is fair to the lender and after all the applicant knew what they were doing when they applied. This is, on the face of it, a really fair comment and it is true. No one was forced to take out a payday loan, they normally searched for a lender and completed a lengthy application form in order to get the money. But where is argument runs out of steam is when you consider how easy it is to get stuck in a repetitive cycle of borrowing.
Even though lenders were, and to an extent, charging massive interest rates, sometimes up to 30% per month, the needed to be charging that much, and also they needed to get the borrower to roll the loan over each month. They could not make money if someone borrowed for a month and repaid, they needed a couple of months of 30% interest to make the figures work and stay in business.
So, if a payday lender needed a borrower to roll over (extend) the loan in order to make money, then they would have, typically, encouraged the borrower to not repay the loan, just pay the interest. This is where the lender was wrong and it is right that consumers make payday loan claims.
Not all lenders were treating borrowers badly. Some lenders had lower interest rates and some did not allow borrowers to roll over and these companies should not be punished.
As a company Redbridge Finance will only make refund claims against certain lenders. For the lenders we will make a claim against we only will submit a claim once we have fully reviewed the borrowing record of the lender and convinced ourselves that there is a case to be answered.
Sometimes customers get cross with us when we will not put a claim forward to a lender, but we have a duty of care to ensure that we have properly reviewed the case before we make a payday loan refund claim.
If you have EVER had a payday loan and could not afford to make the full payment due, did you roll it over? Or did you take out another loan immediately after paying off a loan? Just having to pay the interest may have seemed like a lifesaver at the time, but you still owed the capital and next month you had the same problem. After several months the actual cost of the loan would have grown and grown.
Lenders should have assessed whether the rollover was affordable to you, not simply allowed you to do it time after time. In fact, many lenders actually encouraged people to roll over as it was more profitable for them if you did not pay back the capital. Sound familiar? You may be entitled to a full refund of all interest paid, all fees and compensation.