Payday Loans became very popular in people who were looking for a quick short term fix. They made it easy to access a small amount of money and fast. Payday Loans were great for emergency situations, however if not sold correctly, they could also cause a lot of problems and distress.
Payday Lender(s) are required to have a duty of care and good level of consideration towards their customers. They are required to take out thorough checks on each application to confirm the loan is affordable, and the customer can repay the loan in full.
Read the mis-selling reasons below and if you feel you fit into one or more of these, you may be able to submit a claim.
No more having to check our opening times to get started... Take advantage of our online service and start your claim online!
Select all of the Lenders you believe you have.
Tell us a few details about yourself.
Submit the information and we'll get started.
Our fees for Payday Loan claims are 25% + VAT, which totals 30% of the full redress offered by the Third Party/Lender, for any successful mis-selling enquiry or claim. If the claim is unsuccessful you will not be charged.
The claim can be cancelled within 14 days of MMT receiving the signed documentation at no charge, if you wish to cancel outside of this date and an offer has been made our fees will apply.
For our claims terms please click here.
We may pay a referral fee to our Partners who introduce clients to us.
Here at Money Management Team, we’ll keep you up to date as your Payday Loan claim progresses.
All of the below timescales are averages of our claims process. These timescales are subject to change and are case specific dependant on the lender and information they may require, these should only be used as a guideline.
Completing your application online shouldn't take long at all. We recommend you take 24 hours to review any documentation before signing. However with our online application and signature process, we make it easy to do this from the comfort of your own home!
If you agreed to the Credit Search, we will check your loan history. (Don't worry, we perform a soft check only so that won't affect you or your credit score). We will update you with the results and send you an online questionnaire. Only complete this questionnaire if you feel these have been mis-sold. We will review your complaint(s) before sending to the Lender(s). (Lender Check is Optional)
Once we have sent the complaint to the lender, they have 4 weeks to acknowledge the complaint in writing and then a further 8 weeks to investigate the complaint in full. We will advise you of any updates as we receive them for each claim.
Once the investigation is complete, you will receive a decision within 6 weeks. If the complaint is upheld and you are to receive compensation, the lender should make payment within 4 weeks of receiving your acceptance of this offer. If the lender rejects the complaint, we may be able to appeal their decision through the
Financial Ombudsman Service with your consent.
All of the above timescales are averages of our claims process. Please be aware that these timescales are subject to change and are case specific dependant on the lender and information they may require. These should only be used as a guideline.
Money Management Team is a regulated Claims Management Company
Start and Track your claim online by using your phone, tablet or desktop computer.
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