I have taken out several short-term "payday" loans over the last 12 months. Due to financial difficulties, there were times when I was unable to pay back the loans on my next pay day so I deferred paying back the loan until the following pay day.
In other words, I just paid the charges associated with the loan on the first pay day (e.g. £100 for a £400 loan) and then paid the full amount on the following pay day (e.g. £500 for a £400 loan).
Consequently I had to pay the charges twice. Is it possible to claim back the deferral charges for these short-term loans?
In other words, I just paid the charges associated with the loan on the first pay day (e.g. £100 for a £400 loan) and then paid the full amount on the following pay day (e.g. £500 for a £400 loan).
Consequently I had to pay the charges twice. Is it possible to claim back the deferral charges for these short-term loans?