Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Customer charter 'should make payday loan charges clearer'

People who make payday loan claims will have their standards of service improved, following the unveiling of a new set of commitments from four trade associations.

These organisations represent more than 90 per cent of the total short-term finance market and will ensure people are told clear information about the loan charges involved in the credit option and how the funding model works.

Furthermore, companies have committed that they will not pressurise people into rolling over an existing credit agreement or taking out a loan, while credit vetting and affordability assessments will be implemented to ensure consumers can afford to use payday lenders.

Loan charges and interest will be frozen when clients enter financial difficulty and set up repayment plans or when people do not pay off the loan claim within a maximum of 60 days.

"Payday loans should only ever be used as a short-term financial stop-gap, not as a long-term solution to financial difficulties," business minister Norman Lamb said.

Amir Hussain
Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801414759-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide