If you’ve ever borrowed a payday loan, you can get money back!

Payday loan Complains

Sound familiar? Don’t be misled by false promises

Many claim management companies are out to get your money! But even worse, they may eliminate your chances of ever getting approved for credit again. These companies promise unrealistically large refunds and charge ridiculously high fees for something that you can do yourself for FREE!

We expose the CMC’s lies and explain how to successfully complain against a payday lender if you have been mistreated. But before we start, you need to understand one essential element: The maximum refund you can get is the interest you paid on the loan. So, if you took a loan of £500 for 30 days and you paid interest of £120, the maximum you can claim is £120. You will always need to pay back the £500, as complaining about a payday lender is not a way to avoid repaying the capital you borrowed. Rather, it is a tool to help consumers get a refund for illegal charges. Taking money from someone without paying it back is stealing – this could be a crime that will be legally pursued.

You can only claim for the interest you paid on a payday loan

Four Lies Claim Management Companies Are Telling You

Lie #1: You can make a complaint about any payday loan you’ve ever had and expect a refund!

The truth: The only payday loan complaints with high success rates were those from before 2015 when payday lenders had irresponsible lending practices. Back then, companies would deliberately give people money they could not afford, forcing customers to roll over their loans again and again so that they would pay more interest. The lenders were handed huge fines and had to issue millions in refunds, causing big lenders like Wonga and Wage Day Advance to collapse!

However, if you borrowed a payday loan recently, chances are the payday loan company is operating under the new FCA rules. This means they must have responsible lending practices and airtight credit and affordability systems in place. As such, it’s far more unlikely to get a refund for a payday loan borrowed post-2015 (except for extreme cases).

Loans companies would lend people money they could not afford

Lie #2: When you make a complaint with us, you’ll instantly have hundreds of pounds back in your bank!

The truth: Firstly, you can only claim the interest of the loan, not on the capital you borrowed. Going through a claims management company won’t get you a penny more.

Secondly, the claims process takes time. Getting a refund typically takes between 8 weeks (if it goes directly to the lender) and up to 9 months (if it goes via the Financial Ombudsman Service).

A payday loan refund can take up to 9 months

Lie #3: Trust us – we are professionals who know best how to make a complaint to a lender.

The truth: The people who run claim management companies know as much about filing a complaint as you do! They just take free template letters off the web (see below) and send them to your lenders without any particular details that would support your claim.

Lie #4: If you file a complaint, you don’t have to repay your loan!

The truth: Intentionally avoiding paying back a loan is a serious matter. If you are struggling to repay, that’s okay – lenders will work out a personalised repayment plan together with you. But filing a complaint as an excuse to get out of paying your loan won’t get you anywhere. Even if the lender you borrowed from did not conduct thorough affordability checks, you still need to pay them back! If you don’t, you could be prosecuted in court. Whether you are entitled to a refund for the money you paid them already is something to be debated via the lender’s complaints procedure.

You must repay your payday loan

The RIGHT way to make a payday loan complaint

So now you know to avoid claim management companies who won’t deliver on their promises. But how do you go about lodging a successful complaint on your own? Follow these simple steps:

Step 1: Prepare And Write Your Claim

Choose a free online template like this one this one and fill in your information in the provided boxes. You can also use Money Saving Expert’s free tool to file your complaint. You’ll need to include your:

  • Full Name
  • Current Address
  • Current Email
  • Loan Reference Number
  • Relevant Details About Your loan
  • The Nature Of Your Complaint

If your personal information has changed, make sure to also include your address and email from when you applied for the loan. Be honest, clear, and straightforward when making your claim, and provide as many details as possible. Remember that raising a specific, genuine concern is far more effective than generally badmouthing a lender.

Step 2: Submit your Claim

Submit your claim directly to your lender’s complaints department via email or post. Legally, the lender must give you a final response within eight weeks. If you are satisfied with their response or compensation, then that’s it! You’ve successfully filed a payday loan complaint on your own!

Learn how a payday loan complaint should be made

Step 3: Not Satisfied? Lodge your Complaint with the FOS

If you are unhappy with your lender’s reply, you can escalate the complaint to the FOS (Financial Ombudsman Service) who will contact the lender on your behalf. They will hear both sides and then make a final decision. It can take up to nine months for the FOS to resolve a payday loan complaint.

We hope you find this guide helpful in successfully making your own payday loan complaint. Best of luck!

How to make a payday loan complaint

About the author

Pat Harding

Pat is a former UK high street bank employee of 25 years who writes amazing and helpful articles for

Some of Pat's areas of expertise include household finance, travel and insurance, savings and loans, pensions and day to day money management.

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