Martin Lewis, the money saving expert, weighed in on a number of concerns brought to him by members of the public. The expert offers help with questions, which has helped Brits save money, live more efficiently and solve problems. And for the thousands of clients who have signed up for payday loans, Martin’s final advice will be especially important.

“If you’re having trouble repaying your loan, you should contact Sunny’s customer service team.

Those with repayment issues due to the containment crisis may be able to arrange a payment holiday.

The UK’s watchdog, the Financial Conduct Authority, recently announced it will extend payment holidays for credit cards and personal loans by three months.

This is to provide the additional financial assistance that many households often need during this particularly difficult time.

However, the FCA has warned that those who can afford to make reduced payments should investigate to do so.

Acting Managing Director Chris Woolard said: “Where consumers can afford to make payments, it is in their long-term best interests to do so, but for those who need help it will be. the.”

The Money Saving Expert website also pointed out that there might be cause for concern for those who believe they’ve been mis-sold for a loan.

But luckily, Sunny’s admins can help, as people can always file a complaint.

The Money Saving Expert website states, “KPMG says it will also invite customers to make a claim in the future once it calculates whether there is enough money to pay customers.

“If you had already filed a complaint before Sunny’s collapse, it will go to the administrators. “

Those who have already complained will not have to take further action until they are contacted.

Unfortunately, however, past payday loan company closures have shown that many people do not get their full claim back as a repayment.

This is because there are a lot of clients and a limited amount of money to share between them.

A number of payday loan companies have collapsed in recent years, including QuickQuid, Peachy, Wonga, and PiggyBank.

A Moneywise study found that more than 5.4 million payday loans were taken out in the year through June 2018.


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