Morses Club Loan Compensation, What’s It All About?
Borrowers might end up worse off than they were before they took out the loan if it is mis-sold. You might be entitled to a refund if a lender sold you a loan due to irresponsible lending. Using Reclaims Online, you may begin the process of filing an insurance claim for a mis-sold financial product. We can assist you in making claims for mis-sold loans from various lenders. Morses Club mis-sold loan claims are the subject of this page.
To begin your claim, click the “Start Your Claim” button. For free and in just a few minutes of your time, you may submit this form. Once your submission is complete, you should expect a response within a few weeks. Guarantor loans, in particular, were found to be supporting 83 percent of unaffordability allegations according to FOS figures issued in March 2021.
Why Would I Be Given a Morses Club Loan Refund?
If one or more of the following statements apply to your situation, you may be eligible for compensation from Morses Club.
- For example, throughout the application procedure, you may not have revealed all of your obligations. If your credit rating does not match, the lender should have ensured to confirm this.
- You may have overestimated your monthly expenses owing to a desire to be qualified for a loan. If your figures were too low, your lender should have delved further into your financial situation to verify your credibility.
- Did you have a steady source of income at the time of your initial application? The lender should have taken a look at your work history, whether you were self-employed or even had variable overtime throughout this period.
- Is there a record of any recent credit applications or past debt issues? The lender should have known if your financial condition was deteriorating. Proper affordability checks are a must.
- It would help if your lender did another round of affordability checks whenever you added more money to an existing loan. Is there a chance that you’ve already defaulted on a loan? Your finances may have worsened since you initially borrowed money. Is it possible that their present loan is unaffordable? If so, the lender should have addressed this issue and capped any further lending.
Mis-Sold a Loan From Morses Club?
- Loans that leave you worse off than you were before you took them out should never have been approved. Even if you genuinely needed to borrow the money, this is still the situation.
- If you were awarded additional loans or extensions on an existing loan that the lender had not thoroughly checked for affordability, you might have exacerbated this financial strain.
Making a Claim Against Morses Club? We Can Help
When you use our assistance to file a claim for a mis-sold loan, you may make use of the following features:
- There is no cost if there is no cash.
- 30% success fee (incl. VAT) (of the cash you receive).
- You may cancel for free.
- Offers were obtained before cancellation are subject to a success fee.