Payday loan refund success
It has become evident that payday lenders thrive on the desperation and ignorance of people who contact them for a loan. Although, they've served the interests of many urgently in need of some financial aid for unexpected situations, nevertheless, many of their business engagements do not follow the due process for short-term loans.
Could you likely receive a payday loan refund?
Some people have secured payday loan refund successfully by going through the right channel, and that’s why we're here.
You'll get all the help necessary to ensure the interests on your payday loans are refunded. We have a team of professionals dedicated to seeing the process through from start to finish.
Now, you may wonder if a payday loan refund is possible. That is a line of thought for many who are trapped in repaying the debts owed, and they continually reflect on the possibility with the intention to solve the problem.
One way to address the issue is by assessing the essence of payday loans, which involves lending money on a short-term basis with high-interest rates. However, due to the greed of payday companies to maximize profits at the detriments of borrowers, they encourage people to extend payments to a long-term plan which contravenes the original intent of the scheme.
Nevertheless, awareness is being created now about some of the harmful activities of the lender companies. Payday loans are given immediately after an application is made, and most times without the necessary checks being conducted to ascertain the eligibility of the borrower.
Many people are victims of the exorbitant interest rates these loans attract, and some have to secure a loan from another lender to pay up the previous amount borrowed in their name. It becomes a vicious circle with no end in sight as the borrower is unable to clear up the loan which is apparently above their income level.
But help is here now!
Procedure for payday refund
With the recent law in 2015 concerning payday operations, people with debts from these lenders are seeking compensation claims. More often than not, you are sure of a successful appeal especially when the amount borrowed becomes a long-term loan with recurrent repayments.
It’s possible to successfully get a payday loan refund which is usually based on the interests accrued on loan over the given period. Hence, you will be free of the high-interest rates.
To guarantee the success of your payday loan refund, we make an appeal to the lenders and even take the case up to the Ombudsman when a lender proves difficult. Most times, the Ombudsman supports the complaints of customers in 70% of payday loan cases brought in for arbitration.
Most of the outstanding debts could be written off with the right approach to these lenders as the principal amount obtained as loan may have been paid already in the course of repayments.
The Ombudsman investigates into the case and instructs the lenders to give a refund of all interests with 8% simple once these lenders are found guilty of irresponsible lending operations. Hence, you only get to pay up the principal amount initially borrowed and be free of excessive charges.
We would relentlessly work on the case with complete confidentiality and professionalism to receive a favourable outcome.
So if you have taken multiple payday loans with several companies and currently struggling to settle the debt, then you have a good case. We'd love to hear from you!
It's worth contacting us as we have a track record of success for payday loan refund.