How do you Challenge Irresponsible Lending by TM Advances?
Lending is irresponsible if TM Advances doesn’t take into account your financial situation at the time of granting the loan. Have they asked you the question and more importantly established with evidence that you are able to afford the loan. This is both at the time the loan was granted but also having a realistic understanding through your credit history and income security that these commitments can be met over the period of the loan.
How to Claim for Irresponsible Lending with TM Advances?
First and foremost if TM Advances has leant money irresponsibly to you, we have to assess whether this is the case. We would contact the firm regarding initial concerns that you have and ask for information and review so that we can look at the information obtained from them at the time and questions that they asked and the answers provided.
If there hasn’t been any for of lending which is incorrect we can confirm this to you and as we work on a no win no fee basis no fee is due. Our fee of 24% inclusive only relates to refunds that are made after establishing that the lending was irresponsible.
TM Advances Claims
How can i get Compensation for Irresponsible Lending?
Compensation is addressed if the lending is agreed to be incorrect by looking at what you have paid and the cost of paying this was to you. Most of the refunds we achieve for our clients normally deal with interest charged and a refund of this as well as compensatory interest on any refund agreed. Refunds can, depending on the amount borrowed run into thousands of pounds and can have a huge positive impact.
The reason for the refunds being so potentially large, although this is on a case by case basis and none are ever the same, is that the loans whilst not in themselves large they do carry a lot of interest commitments. If a loan has been repaid the interest charged and paid can easily exceed the amount borrowed in the first place
What is Irresponsible Lending?
Irresponsible lending can have a huge impact on a person and their families finance and in turn wellbeing. If you find yourself committed to a loan which a reasonable lender is unable to justify then how can another which charges a higher amount, say the borrowing is acceptable.
How do I know if the loan from TM Advances was made irresponsibly?
From contacting the firm we work with them to obtain details and information along side their investigation to establish if the correct sales practices and information gathering was employed. If not we would look at TM Advances making a refund to deal with the mis-sale.
There are a number of questions you have to ask yourself and if you say yes to any of them then it is certainly worth checking whether the loan was sold irresponsibly.
- Had you been turned down in the past for a loan by another lender?
- Was your income irregular?
- Have you had previous trouble with money?
- Did TM Advances not ask for evidence of your finances?
- Did you feel forced into the borrowing?
- Was the loan review rushed?
This isn’t a definitive list but basically you have to ask yourself did you think TM Advances did a thorough job or not when lending you the money?
Are TM Advances Going Bust?
Since the failure of a few high-interest loan providers, customers of a whole host of lenders have been concerned about whether or not the company they borrowed money from has gone bust. Fortunately, TM Advances is not one of them, so any claim or potential claim you think you have against the company can be verified.
How Much will I Receive if my TM Advances Claim is a Success?
If you are successful in claiming a refund from TM Advances, you can reclaim the interest and fees on your loans, plus 8% statutory interest.
How long does an Irresponsible Lending Claim Take?
Claims in respect of Irresponsible lending by TM Advances can take 4 to 8 weeks but if it is established that a potential mis-sale due to unaffordability has taken place it can take longer as we would ask the ombudsman to review and adjudicate on the concerns.
Claim a Refund from TM Advances
We can help you claim back any refund you my be entitled to from TM Advances
Please enter your details below to get started.