Have you had a Credit Card,
Store Card or Loan?
Find out if you could claim back compensation!
As advertised on
How the Claiming Process Works
Lead Insight T/A Unaffordable Lending Helpdesk is a Claims Management Company (CMC). You do not have to use a Claims Management Company or Solicitor to pursue a claim. You can claim for free, without using a claims management company, first to the third party responsible or to the Financial Ombudsman Service/Financial Services Compensation Scheme.
If you choose to use a Claims Management Company or Solicitor and your claim is successful you will be charged a success fee.
What Is Unaffordable/Irresponsible Lending?
If you've taken out a loan, credit card or store card, or your credit limit has been increased, or you were encouraged to apply for further borrowing, then you could be owed compensation.
Lenders are required to make appropriate checks, in accordance with industry practice and guidelines, to ensure that any borrowing you take will be affordable and not place you in financial hardship. If you've struggled financially as a result of making your monthly repayments, or have only managed to usually pay the minimum repayment amount, then the credit may have been unaffordable. When you're unable to complete repayments, your credit score suffers. By making a claim for unaffordable lending, a successful claim compensates you for the losses and could remove any negative information linked to the account you have made a successful claim against from your credit history..
How Does Affordability Work?
Before you're given a credit card, store card or loan the lender should look at your income and regular expenses. This information, along with details of other debts you may have, is used to determine if you can afford the new monthly repayment. As a case in point, guarantor loans need the affordability checked for both the main borrower and the guarantor. If the agreement proves to be financially manageable, you can afford the loan. If not, the lender should refuse to lend to you.
How is Unaffordable Lending Helpdesk Paid?
Unaffordable Lending Helpdesk is a brand of Lead Insight Ltd who act as an introducer and help to connect you with trusted Service Providers, who are experienced in pursuing financial claims on behalf of consumers. When you submit an enquiry via our websites, your data will be securely transferred to a named Service Provider (as outlined in our Privacy Policy). We get paid by the Service Providers we work with, but the payment we get will never make any difference to the service you receive.
What Issues Count?
With unaffordable lending, some or all of the following issues make you eligible to make a claim:
No affordability checks took place
You have been unable to pay your bills or mortgage payments
You took out an additional loan to pay the first one back
The lender didn’t clearly explain the risks involved with further borrowing
The fees and charges were not made clear
You were encouraged to borrow more money for a better deal
The lender did not take into account personal circumstances
Debt consolidation was offered by your lender with additional credit
The lender kept increasing your credit limit
Your balance was close to (or exceeded) your credit limit
You are/were in a cycle of debt
What Charges Apply to 'No Win No Fee'?
How a CMC gets paid if a 'No Win No Fee' case is successful
If your CMC is successful in winning your claim, you will be awarded compensation and will then need to pay your CMCs fees as agreed upon. The fees can differ between companies so you should make sure to check the fee structure. At Unaffordable Lending Helpdesk, our panel of CMCs will only take on a case and pursue a claim if it meets criteria.
Unaffordable Lending Helpdesk always assign a CMC you can trust for the complete process and they can guide you the best with your claim. At Unaffordable Lending Helpdesk, our CMC's work on a 'no win, no fee' basis. In UK we have the best expert CMC's aligned with us that helps the claimant make their informed choice.
Termination Fees
If you cancel your claim after 14 days the CMC reserves the right to charge you a termination fee, please see the CMC's terms & conditions for more information.
Fee Table
| Redress Amount | Your Service Charge (+VAT) |
|---|---|
| £1 - £1,499 | 30% up to a max of £420 +VAT |
| £1,500 - £9,999 | 28% up to a max of £2,500 +VAT |
| £1,0000 - £24,999 | 25% up to a max of £5,000 +VAT |
| £25,000 - £49,999 | 20% up to a max of £7,500 +VAT |
| £50,000 + | 15% up to a max of £10,000 +VAT |
Find Out If You Have A Claim
One of our panel will assess your claim. They will evaluate the details and determine the potential for success, providing you with a clear understanding of your options.
Start Your ClaimFrequently Asked Questions
What happens when a claim is successful?
When an unaffordable lending claim is successful, you should receive a refund of interest and charges associated with the borrowing or limit increase.
If a balance is still outstanding your refund will usually be used against this and if there is any remaining refund after this, this will be paid to you.
A lender may choose to close an account following a successful claim.
An account can also be closed by the lender in the event of a complaint being lodged, this is at lenders discretion.
Will a claim affect my credit score?
Your credit score will not be affected by making the complaint initially.
Can I stop repayments when I make a claim?
You shouldn't stop paying towards your account if you've made a claim for unaffordable lending. Stopping payments could cause you to incur charges and missed payments or a default on the account will show on your credit report.
If you cannot afford to make your payments you need to speak to your lender.
If you are struggling with your finances, you can obtain free and impartial advice from MoneyHelper.
What happens to my account whilst it is being investigated?
If your account is still open the lender may suspend it's use whilst they investigate your claim. The lender may also review your credit limit and discuss with you a more appropriate borrowing level.