What Is The Situation With Morses Club Loan Refunds?
If a loan is mis-sold, borrowers may end up worse off than they were before they took it out. If a lender sold you a loan owing to reckless lending, you may be entitled to a refund. You can start the process of filing an insurance claim for a mis-sold financial product by going to Reclaims Online. We can help you file a claim for mis-sold loans from a variety of lenders. This page is dedicated to Morses Club mis-sold loan allegations.
Click the “Start Your Claim” button to get started on your claim. This form can be filled out for free and takes only a few minutes of your time. You should receive a response within a few weeks after submitting your application. According to FOS numbers released in March 2021, guarantor loans were found to be supporting 83 percent of unaffordability allegations.
What Is the Purpose of a Morses Club Loan Refund?
If you can relate to one or more of the following assertions, you may be eligible for compensation from Morses Club.
For example, you may not have disclosed all of your responsibilities during the application process. The lender should have double-checked your credit rating if it didn’t match.
Due to a desire to qualify for a loan, you may have overstated your monthly expenses. If your numbers were too low, your lender should have looked into your financial status further to ensure your legitimacy.
At the time of your initial application, did you have a consistent source of income? During this time, the lender should have looked at your job history, whether you were self-employed or had variable overtime.
Is there any history of recent credit applications or debt problems? If your financial situation was deteriorating, the lender should have been aware of it. Affordability checks are required.
When you add more money to an existing loan, it would be helpful if your lender ran another set of affordability tests. Is it possible that you’ve already missed a payment on a loan? Your financial situation may have deteriorated since you took out the loan. Is it feasible that their current loan is too expensive for them? If such was the case, the lender should have addressed it and put a stop to any further loans.
Morses Club mis-sold you a loan?
It’s possible that the Morses Club loan was mis-sold to you. If a lender sold you a Morses Club loan that you couldn’t afford, you may be entitled to compensation.
Loans that leave you in a worse financial situation than before they were taken out should never have been approved. Even if you truly needed the money, you are still in this scenario.
You may have aggravated this financial hardship if you were given additional loans or extensions on an existing loan that the lender did not thoroughly assess for affordability.
Is it Possible to File a Lawsuit Against Morses Club? We Can Assist
You can use the following features when you use our aid to file a claim for a mis-sold loan:
When there is no money, there is no cost.
Success fee of 30% (incl. VAT) (of the cash you receive).
You have the option to cancel for no cost.
A success charge applies to offers that were secured prior to cancellation.