Have you had a Credit Card or Loan?
You could claim back £1,000's in compensation due to Irresponsible Lending
As featured on:
What is Irresponsible Lending?
If you had a credit card or loan from certain lenders, you could qualify.
If you've taken out a loan or credit card whereby your credit limit has been raised, or if you've been encouraged to seek additional borrowing, you may be eligible for compensation.
Lenders are obligated to conduct proper checks, following industry practices and guidelines, to ensure that any borrowed amount is manageable for you and doesn't lead to financial strain.
If you've faced financial difficulties due to meeting your monthly repayments or have consistently paid only the minimum amount, the credit may have been beyond your means. Failure to meet repayments adversely impacts your credit score. A successful claim compensates you for losses and has the potential to erase negative entries from your credit history.
Start your Irresponsible Lending Claim
Do I qualify for an Irresponsible Lending Claim?
Just some of the reasons you could make an irresponsible lending claim include:
Did the lender make affordability checks when you opened the account and if you increased your credit limit?
You had to take out further credit to pay the initial one back.
When you took out the credit were the charges and associated fees made absolutely clear to you?
Did the lender take into consideration your situation and personal circumstances.
Did the lender give you offers that encouraged spending, cash advances or better deals the more you borrowed?
If you frequently went over your limit or came close to exceeding your limit.
Did the lender automatically increase your credit limit, without you asking? Encouraging further borrowing.
You are/were unable to make repayments but were offered credit.
You are/were struggling with paying regular payments to your monthly bills because of the lending.
You were offered incentives in return for increasing your credit limit.
Lenders should be conducting the required checks
Prior to receiving a credit card or loan, the lender must assess your income and essential expenditures. This data, coupled with information about any existing debts, is utilised to evaluate whether you can comfortably meet the new monthly repayment obligations.
Start your Irresponsible Lending Claim
How do I claim?
We do all the hard work for you
Step 1:
Submit Your Details
We've made it incredibly easy for you to apply. All we need is some basic details to get your claim started.
Step 2:
We Check Your Claim
We'll gather all the necessary information directly from your lenders and then process your claim to get back the money you could be owed.
Step 3:
You Get Paid
It's as simple as that, we do all the heavy lifting, and to get you back the money you could be owed.
Frequently Asked Questions
Are irresponsible lending claims No Win, No Fee?
They are. You only have to pay if your claim is successful.What happens when a claim is successful?
When an irresponsible lending claim is successful, you should either:- Receive a refund of interest and charges associated with the borrowing or limit increase.
- If a balance is still outstanding, or the account is in arrears, your refund will usually be used against this and any remaining amount will be paid to you.
- Any adverse data from the account could be removed from your credit report.
A lender may choose to close an account following a successful claim.
Can I stop repayments when I make a claim?
It's advisable not to cease payments on your account after filing a claim for irresponsible lending. Halting payments may lead to additional charges, missed payments, or a default notice appearing on your credit report. If you find it challenging to meet your payment obligations, it is crucial to communicate with your lender.What happens to my account whilst it is being investigated?
If your account remains active, the lender may temporarily halt its use during the investigation of your claim. Additionally, they might reassess your credit limit and engage in a discussion with you about a more suitable borrowing level.Why choose Direct Redress?
We've been successfully helping clients to get back what they are owed for 14 years.
We put you first
We put you at the centre of everything we do and strive to deliver a great experience for you. All of our customers receive our first class service.
We do the right thing
We're fair, honest and upfront, and do our best for you every time. All lenders have a responsibility to act fairly, and it's our job to hold them to account.
We go the extra mile
We take the time to carefully understand where a lender has acted unfairly and continue to fight your corner to recover the money they owe.
Our dedicated team of claims experts will use their specialist understanding to carefully construct and present your case to lenders, keeping you updated every step of the way. We believe all lenders have a duty to operate ethically, and we are unrelenting in our pursuit to get you back the money you could be owed.
How we help
We've been helping customers with claims for over 14 years.
We're well known throughout the industry for our huge success in reclaiming over £100 Million for our customers, across various types of claims.
We take great pride in our customer service and always seek to deliver the highest standards of customer care. We strive for consistent, positive customer satisfaction.
£100 Million+
Reclaimed for our thousands
of happy customers
14 Years
Experience working in the
claims industry
250,000+ Clients
We've helped thousands
reclaim compensation
No Win, No Fee
You only pay a fee if your
claim is successful
Our Fees
We work on a No Win, No Fee basis and our fees are charged only in the event of a successful claim on the win amount awarded.
Our fees are in accordance with the guidance from the Financial Conduct Authority and are detailed in the table opposite.
Our fee is calculated as a percentage of the win awarded, if there's no win there's no fee.
Start your Free Assessment| Refund Amount | % Fee Rate |
|---|---|
| £1 - £1,499 | 30%+VAT |
| £1,500 - £9,999 | 28%+VAT |
| £10,000 - £24,999 | 25%+VAT |
| £25,000 - £49,999 | 20%+VAT |
| £50,000+ | 15%+VAT |
Our No Win, No Fee service is simple and easy.
All of our irresponsible lending mis-selling claims are covered by our No Win, No Fee service.