MARTIN Lewis’ MoneySavingExpert has revealed how thousands of borrowers could see their debts cleared after this Christmas. Those that took out payday loans and borrowed money through doorste…
Since then it has not taken on new customers, but anyone with anBut now Martin Lewis's expert team has reminded Provident and Satsuma customers with outstanding loans, that they won't have to pay back any money they owe.It also means the loan will show up as partially settled by that date too.The MoneySavingExpert team advised it's best to cancel direct debits set to go out after this date though, in case of any issues.
The MoneySavingExpert team said it's best to get your complaint in ASAP in case any problems arise when you're submitting your claim.How much you get back will depend on how much you borrowed in the first place, and how long you had the loan for.Provident received most complaints due to a lack of proper affordability checks, so for many this will be the case..
A loan is only affordable if you could make the repayments whilst also being able to pay all your usual bills and living expenses. But if paying back your loans meant you went further into debt, then that could be classed as unaffordable too.Martin Lewis reveals how households will pay 40% more for steeper energy bills next year
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