Relevant facts about Payday Loan and Compensation

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Relevant facts about Payday Loan and Compensation
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• Have you been stuck in a trap trying to make
  repayment for a payday loan for a while now? 
• Well, you can get the long deserved justice for
  the unfairness of it all. And it all starts here
  with us.

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• For many years, payday loan companies had free
  rein, and their operations were not under any
  strict regulations. They could afford to lend
  money to whom they choose, and at outrageous
  rates too. The excesses of payday loan companies
  made people who take up their offer to bear the
  financial pain.

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• Initially, before 2nd January 2015, payday loans
  were charging exorbitant interest rates with some
  companies hiking their interest to the tune of
  7000 rate. However, many of these payday loan
  companies were forced to close down due to the
  new stipulation to cap the interest they can
  charge at 0.8 per day for the total amount
  borrowed.

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• For obvious reasons, some lenders urge customers
  to roll over a debt owed or to extend repayment,
  which invariably increases the amount of interest
  accruable to the loan. They merely want you to
  continue paying the interest rates. 

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But help is here!A payday loan is borrowing for
a short period which attracts high costs in the
form of interest rates. For instance, if you had
an urgent need for 1000 during an emergency,
then you have to fix a date to make repayment in
full amount including the interests all within 38
days.
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From the foregoing, it follows that payday loans
are meant to be solely on a short-term basis
because they were designed to cover for any
sudden or unanticipated expenses which are beyond
your normal income. If you were not properly
advised and guided on the essence of payday loans
with the intent of avoiding long-term borrowing,
then you could claim compensation.
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• Payday loan companies must uphold a sense of care
  for anyone applying by educating them
  sufficiently, to avoid issues with repayment.

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• They must conduct effective checks to confirm if
  the loan is affordable and the person requesting
  a loan can conveniently payback with the interest
  rates attached.

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• There are several procedures which ought to be in
  place before you take up a payday loan. So, when
  deviations occur, it figures that the necessary
  checks were not conducted before the credit was
  issued.

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Criteria to qualify for Payday compensation claims

• Now the question is "do you qualify to receive
  compensation for a Payday loan?"

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Its appropriate to apply for compensation claims
if any of the following assertions are relevant
to you    Your Payday lender didnt clarify
the implication of the charges and fees
structure.    You borrow funds from another
Payday lender to pay off the previous loan.   
You couldnt afford to borrow the previous loan
as repayment was rolled-over continually each
month.    Repayment of the loan cuts a huge
chunk off your income, and it grossly affects
your livelihood.
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So before you go for the next payday loan, please
get your facts right. And what is more? We could
assist you to get a complete refund of the
interest and charges applicable to the loan you
borrowed, as well as ensuring unaffordable loans
are taken off your credit records.
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We are transparent in our services with no hidden
fees or high charges. We have successfully
assisted several clients to claim compensation
for payday loans. However, we may need relevant
details and information from you regarding the
loan to make a strong case. As a reputable claims
management company in the UK, it beholds on us to
maintain a good relationship with our clients,
and our record sets us apart from the crowd.
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Thanks!

• Any questions?
• You can find me at
• https//www.redbridgefinance.co.uk/