You do not need to use a Claims Management Company. You can make the claim directly to the lender and if they reject your complaint you can take it to the Financial Ombudsman Service free of charge, but you must do this within 6 months of the lenders Final Decision Letter.
1+1 Loans has a very bright and cheerful website. They proudly display an “as seen on TV” picture, so I guess they do advertising on TV.
They seem to only offer Guarantor Loans and they charge an industry average 47.8% APR fixed. You can borrow up to £10,000 if you have a guarantor. They have a nice little calculator so you can work out how much a loan is going to cost you.
When I tried out the calculator, I said I wanted to borrow £5,000 over 60 months (5 years). It told me that my monthly payments would be £190.63 and that means that I would pay £6,437.80 in interest and fees. So in total, I would repay £11,437.80 over 5 years.
It is a very high-interest rate considering they have the loan guaranteed by someone other than the borrower.
They use a company called FeeFo for its reviews and on this site, they have a feedback rating of 4.8/5. Having read the reviews I have to say that the only review they have that is a 1 out of 5 was an unfair review. The borrower was being questioned by a 1 plus 1 agent who was just doing their job. That review should be ignored.