Doorstep Loan Claims Specialists | Fighting Your Corner.
Doorstep loan – Misery mis-sold on the doorstep loan claims.
You have likely heard about the scandal surrounding doorstep loan mis-selling. Now it seems highly likely that doorstep loans will be next to be exposed as an industry defined by unscrupulous, reckless practices.
It is estimated that more than 1.6 million people in the UK have borrowed from lenders who tout their services from door to door. The biggest names in this market include Morses Club (includes Shopacheck), Provident (includes Greenwoods), and Mutual and Loans At Home.
The bottom line – if you can prove your lender provided an unaffordable loan, you have a case for compensation.
Why Door Step Loans Were Missold
First, there was PPI, then payday loans, and now a new financial product scandal has begun to emerge – the mis-selling of doorstep loans. While both PPI and payday loans have been put under the spotlight by the Financial Conduct Authority (the body that regulates the financial industry), doorstep loans have so far escaped a regulatory overhaul. Something that could be soon set to change. In this blog, we look at how doorstep loans have been mis-sold to the masses – and what you can do about it if you believe you’ve been a victim.
The UK doorstep loan market
In the UK there are more than 1.6 million people who use loans that are sold on the doorstep. These financial products, also known as ‘home credit’, account for one of the most sizeable markets of all in the high-cost credit industry.
“There’s no questioning the evidence, the FCA’s cap on payday lending has been a success. But it’s time now to address the problems consumers are facing in the home credit market. Home credit customers are susceptible to the high cost of these loans because of easy refinancing, and there is currently no total limit on what they repay”. Gillian Guy, Chief Executive of Citizens Advice
A doorstep loan can be proven to be unaffordable if your lender failed:
- To act responsibly in ensuring every loan was suitable for your income
- Offered you doorstep loan top-ups after repaying each loan
- Didn’t allow you to read a pre-completed application form
- Returned your application and told you to amend it, falsifying information
- Allowed you new lending following missed payments
- Allowed you to continue borrowing, despite you informing them of a fall in income
Our experience in high-cost lending claims is practically unmatched. Allegiant Finance Services was the UK’s first payday loan claims firm and pioneered the market. The very principles that payday loan lenders breached when wrongly lending to financially distressed customers equally apply to doorstep loan lenders.
Your doorstep loan claims
Making a claim for compensation against a doorstep loan company shouldn’t feel overwhelming.
✓ Our claims process is streamlined and managed completely online and by phone. You won’t need to attend court, nor sit across from your lender or their legal team.
✓ We adhere to all industry regulation and are regulated by the Claims Management Regulator.
✓ We operate on a transparent no win, no fee basis and our fees are incredibly competitive.
✓ We carefully choose our cases and deeply understand unaffordable lending.
Our Mis-Sold Payday Loan Claims Procedure
Pre complaint investigation and analysis
Formal mis-selling complaint made
Response analysis & negotiation
Referral to Financial Ombudsman Services
Widely Regarded as Leaders in Payday Loan Claims
A Trusted Name Allegiant Finance Services Ltd is widely regarded as an original pioneer in the doorstep loan claims management market.
Friendly & Experienced Advisors Contactable by email or phone, whichever you prefer.
Confidential & Discreet We will only correspond with you and keep your details secure. We’ll never sell your data.
Proven Track Record We've been claiming doorsteploan refunds since 2013
Online Application Full online application process. Receive an automated decision on whether we can take on your claim
Better Value No Win No Fee Service Better value than our major competitors & a true No Win No Fee service (cancellation fees may apply)