If you were granted a loan or credit that you couldn’t afford to repay—due to inadequate affordability checks, misleading terms, or excessive interest rates—you may be entitled to compensation.
(no obligation – no win, no fee)
What are irresponsible lending claims?
Irresponsible lending occurs when lenders provide credit without properly assessing a borrower’s ability to repay. This can include:
- Inadequate affordability checks: Failing to assess whether you could afford the repayments.
- Excessive loan amounts: Offering loans larger than necessary or appropriate.
- Unclear or misleading terms: Providing credit with terms that are not transparent or are difficult to understand.
- High interest rates and fees: Charging excessive interest or fees that make repayment unmanageable.
These practices can lead to financial hardship, debt spirals, and significant distress.
Who could be eligible?
You may have a claim if:
- You were granted a loan or credit without a proper affordability assessment.
- The loan amount was larger than necessary or appropriate for your needs.
- The terms of the credit were unclear or misleading.
- You were charged excessive interest rates or fees.
- You have experienced financial hardship or distress as a result.
Typical compensation outcomes
Compensation can vary depending on the circumstances but may include:
- Refund of interest and charges: Recovering the interest and fees paid on the unaffordable loan .
- Debt cancellation: Having part or all of your debt written off .
- Financial compensation: In cases of significant distress or hardship, additional compensation may be awarded .
How to make a claim
Click the button below to start your free assessment and get matched with a specialist solicitor:
(no obligation – no win, no fee)
Legal process & time limits
- Time limits: Claims must typically be made within six years of the loan being granted .
- Process: The process usually involves gathering evidence, submitting a claim to the lender, and potentially escalating to the Financial Ombudsman Service if the lender does not resolve the complaint .
Why use ConsumerClaims.co?
- Rapid, obligation-free eligibility check
- Match with UK-qualified solicitors, experienced in financial mis-selling, working on a no win, no fee basis
- Full support throughout: from evidence gathering to complaint drafting and legal representation
- We are an independent, non-profit service—designed to maximise your redress, not profit from it
FAQs
Will making a claim affect my credit score?
No. Initiating a complaint does not impact your credit rating.
Can I claim if I no longer have records of the loan?
You can still claim. Solicitors and regulators can often obtain records via subpoenas or data requests.
Can I claim for emotional distress or mental health harm?
Yes. If you can evidence that lender failings contributed to mental health issues, those are compensable losses.
