What is irresponsible lending?
Irresponsible lending is when loans or credit are given to someone without checking what they can afford. The loan could be bigger than needed or too big to pay back, causing the loanee to financial hardship and to fall behind on payments.
If you have had financial credit with MBNA, Shop Direct, Very, JD Williams, Aqua, Vanquis, Ocean or New Day and you believe they failed to check your affordability causing you to fall into financial hardship, you may be due compensation.
How to claim
Pacific Legal make it so simple!
Here are the 4 steps to your compensation.
1. Contact our expert team
2. We’ll send you our paperwork
3. Your dedicated claims expert will keep you informed and up-to-date
4. Payment made directly in to your bank account
Frequently Asked Questions
Only in a positive way. If your claim is successful the lender can be asked to remove all details of the agreement from your credit file. In most cases they co-operate with the request and contact the credit reference agencies directly.
If you cannot remember doing an income or expenditure form or even being asked about your personal circumstances when credit was given or increased then the chances are you could be affected. If you don’t have any correspondence from the lender, all we need is a few details to request your information and we can look further into this for you.
No problem, each claim is separate so our expert advisers will certainly be able to help with more than one claim.
Absolutely not! All our claims are confidential and we’ll only share the information you provide with your lender(s),the Financial Ombudsman Service (FOS) if required and Credit Reference Agencies.
We operate on a [No Win, No Fee] basis for most claims, meaning you won’t pay any upfront legal fees. However, once successful our fees are broken down as below:
| Compensation Amount | Our fee 40% plus Vat – total 48% | You would be left with |
|---|---|---|
| £1000 | £480 | £520 |
| £3000 | £1440 | £1560 |
| £10000 | £4800 | £5200 |
The above fee illustration is not to be taken as an estimate of the amount likely to be recovered for you.
No fees will be charged to you if your claim is unsuccessful.
Yes you can. You’ll need to write to the lender and request a refund and even if they reject your claim you can still write to the FOS. To get started you can get free impartial advice from a consumer organisation.
Get in touch
If you think you may qualify for a claim, we’d love to help you get back what you may have lost. Our expert team are ready to hear from you!
01412 806 227
enquiries@pacificlegal.co.uk
