We are probably the most experienced Payday Loan Claim Specialists in the UK. We are 100% dedicated to Payday Loan refunds. We do nothing else but fight payday lenders to get a refund for our customers. https://www.redbridgefinance.co.uk

1. RELEVANT FACTS
ABOUT PAYDAY LOAN
AND COMPENSATION
Ever wondered at the exorbitant interest rates on Payday loans?

2. • 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.
• 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.

3. • 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.
• 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.

4. • 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.
• 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.

5. • Payday loan companies must uphold a sense of care for anyone applying by
educating them sufficiently, to avoid issues with repayment.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.
• 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.

6. • Criteria to qualify for Payday compensation claims
• Now the question is "do you qualify to receive compensation for a Payday loan?"
• It’s appropriate to apply for compensation claims if any of the following assertions
are relevant to you:
• • Your Payday lender didn’t clarify the implication of the charges and fees
structure.
• • You borrow funds from another Payday lender to pay off the previous loan.

7. • • You borrow funds from another Payday lender to pay off the previous loan.
• • You couldn’t 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.
• So before you go for the next payday loan, please get your facts right.

8. • 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.
• 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.

9. • Redbridge Finance Limited is Registered in England &Wales with Company
Number 10625599. Registered Office: 1 Forbes Business Centre, Kempson Way,
Bury St Edmunds, IP32 7AR. Regulated by the Claims Management Regulator in
respect of regulated claims management activities – CRM43144.VAT Number 270
5830 08. ICO Registration Number ZA244805

10. Redbridge Finance Limited
• https://www.redbridgefinance.co.uk