The Financial Conduct Authority (FCA) has a certain set of criteria rules that govern lenders like Morses Club. The Government Watchdog are there to protect vulnerable borrowers and to ensure lenders are acting responsibly.
Lenders should not lend money if the loan means the borrower will struggle to pay day-to-day bills or needs to borrow more money to keep up with the repayments.
- Was the loan Provident granted to you unaffordable?
- Did the loan have excessive charges like high interest and charges?
- Did Provident suggest that the loan was unaffordable but still went ahead?
- Did Provident fail to ask about all your other existing debts?
If you answer yes to any of the above, you may have a Morses Club Loan Claim.
Morses Club may not have carried out all of the appropriate affordability checks. They also should have checked your credit record and come to a decision based on all of the facts.
If they did not, you may have been sold a loan that was unsuitable. If this is the case, you can potentially claim compensation with the help of Reclaims Online.