Have you taken out a personal loan with Morses Club in the last 10 years? You may be entitled to a refund claim
Many Provident customers may be entitled to compensation if Provident allowed them to take out lots of loans, one after another.
Often when people take out Morses Club loans regularly it is a sign that they are struggling with their debts and Morses Club is under an obligation not to take unfair advantage of this.
To protect consumers, the Government watchdog, the Financial Conduct Authority has rules that lenders should not lend if the loan means the borrower cannot pay day-to-day bills or needs to borrow more to keep up the loan repayments.
Even if you have managed to make the loan repayments over many years, you may still be able to claim.
What can I claim a refund for?
If Provident has let you take out lots of loans without doing proper checks then you may be entitled to have the loan stopped and claim for:
A refund for all the interest you have paid on the loans;
Claim all loan fees and charges;
A refund on any interest paid on the above.
You can also ask for any negative information on your credit records to be removed.
No-win, no-fee solicitors
TLW is financial mis-selling solicitors, who are experts at claiming compensation for those who have taken out unfairly provided personal Morses Club loans.
We act on a ‘no win no fee basis and you pay us nothing if your claim is unsuccessful.
So, you have nothing to lose.
What about arrears, can I still claim?
Sometimes for reasons outside your control, you may be struggling with your repayments and have fallen into arrears. Under FCA rules, where there is an ongoing claim against a lender, then the lender must not keep asking for payment without providing clear justification or evidence as to why the claim is invalid.
Where possible you should always continue to make your contractual payments to the lender to ensure you do not miss any repayments as this could affect your credit rating.