How Do I Get a Payday Loan Refund?
There are a few questions you’ll have to ask yourself before the “How do i get a payday loan refund?” question can be answered.
Did taking out a payday loan make your financial situation worse?
If you found that when you got into difficulties with your first payday loan and you informed your lender did they do anything to help? Or did they just suggest that you take out another loan to cover the payment on the first one and not to worry about it for another month? If the answer is yes, you should have a good chance of getting a payday loan refund.
Did the lender you used know you were in difficulties during or at the start of your loan?
If you took out a payday loan and found that you couldn’t pay it back on time, did your lender help you? Did they allow you to pay the loan back in a more affordable manner without adding default charges and additional interest, even though you informed them of your problems? If the answer is no, then you should have a good chance of getting some sort of refund on your payday loan.
Payday Refund Advice
There are a number of sites out there offering you the opportunity to get some sort of refund on your payday loans if you were treated badly but be careful of the ones that will charge you for doing it. www.debtcamel.co.uk is a good place to start, they offer free impartial advice and the site is full of posts from people who have successfully managed to get a loan refund themselves.
Don’t tar all lenders with the same brush
Not all lenders are created equal, some lenders will not take into account the number of existing loans you have outstanding or how much of your income is being spent on normal life items like, food, rent, transport, utilities, tv/broadband, clothes, etc. and how much you spend on outstanding loans and credit cards each month, all they are interested in is lending you money to make themselves money, no matter what.
LoanPig are different, if we feel that you cannot afford the loan repayments, we won’t lend. If we feel that lending to you will put you in a worse financial position, we won’t lend, If we feel that you are borrowing from us this month to cover a loan you cannot pay from last month, we won’t lend.
At the end of the day LoanPig is a business and like all businesses we need to make a profit to survive. We lend out our own money to people who need it, and if managed properly, our service is invaluable. LoanPig provide a valuable direct lending and broker service and in return they charge a fixed rate interest charge. We won’t lend to anyone we think is struggling or someone who is taking from Peter to pay Paul.
So when you are considering the options please choose your lender very carefully as not all have your interests at heart.