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    • AriaJane
    • By AriaJane 17th Jul 17, 9:05 AM
    • 13Posts
    • 2Thanks
    Pay Day Loan Comp
    • #1
    • 17th Jul 17, 9:05 AM
    Pay Day Loan Comp 17th Jul 17 at 9:05 AM
    Hi there,

    I heard an advert on radio that if someone has ever had a pay day loan then they could be eligible for some form of compensation. I've googled but can't seem to find a definitive answer to what the compensation is for.

    I had got myself into financial trouble 2011 / 2012 and had pay day loans to help me out of sticky spots, but I wasn't ever not able to pay them back and I never defaulted on them but I do remember that I'd take out a new loan because my wage was spent paying back the last one - if that makes sense?

    My question is, what's the basis of any kind of compensation?

    Many thanks
Page 1
    • zx81
    • By zx81 17th Jul 17, 9:11 AM
    • 16,832 Posts
    • 17,838 Thanks
    • #2
    • 17th Jul 17, 9:11 AM
    • #2
    • 17th Jul 17, 9:11 AM
    The basis would be whatever your complaint is.

    There's no automatic right to compensation from anyone for anything. Nothing you've said suggests any sort of wrong doing.

    Apart from perhaps by the radio ad.
    • AriaJane
    • By AriaJane 17th Jul 17, 9:21 AM
    • 13 Posts
    • 2 Thanks
    • #3
    • 17th Jul 17, 9:21 AM
    • #3
    • 17th Jul 17, 9:21 AM
    Thank you, zx81.

    It's what I suspected as the results I was getting on search engines were really quite vague about any basis for money due back to me.

    The interest rate was high, but I signed on the dotted line knowing what it was and I can't fault them, they helped me out when I most needed them.
    • -taff
    • By -taff 17th Jul 17, 7:54 PM
    • 7,407 Posts
    • 5,486 Thanks
    • #4
    • 17th Jul 17, 7:54 PM
    • #4
    • 17th Jul 17, 7:54 PM
    Have a look on the debt free wannabe board, there's sticky about pay day loans
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