Since January 2015 the total cost of a payday loan is capped: interest and fees cannot exceed 0.8% per day, default fees are capped at £15, and the total amount you repay can never be more than double what you borrowed.
If you were lent money you couldn't sustainably afford — signs include repeat borrowing, rollovers, or new loans taken to repay old ones — you may have a valid affordability complaint. Complaints go first to the lender, then to the Financial Ombudsman if rejected.
Successful complaints typically result in refunds of interest and fees, and removal of the loans from your credit file. You do not need to pay a claims management company: free complaint templates are widely available from organisations like Citizens Advice.
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