Please find below a list of frequently asked questions, if you can't find what you're looking for, simply email us at customerservices@moneyambulance.com
When lenders agree to loan you money, they first need to carry out reasonable and proportionate checks to ensure the you can afford the repayments. Providing loans and credit without adequately assessing if you are able to afford it is referred to as irresponsible lending.
Overdrafts are meant to help in the short term, not become a long-term debt.
If your bank allowed you to stay in your overdraft for long periods, increased your limit, or kept charging fees when there were signs you were struggling financially, they may not have managed your account fairly.
In some cases, this could mean you're owed money back.
No. Making a complaint about your lender won’t hurt your credit score. Complaints and their outcomes aren’t shared with credit reference agencies. The only time your credit report could be affected is if you miss or delay payments while your complaint is being looked into.
You could be eligible to make an irresponsible lending complaint if you have ever had a loan, credit card or overdraft and any of the following apply:
Your lender didn't adequately check your financial situation
You had to borrow more to keep up with your debt repayments
You missed payments because you couldn’t afford them
You struggled with day to day living costs because of your debt repayments
The online banking assessment is very quick to identify potential lending/ overdraft claims, you'll be notified via email should we feel you have a potential claim.
Not at all, you can complain directly to your lender for free.
It doesn't cost you anything just to find out if you have a potential claim.
Any money due will be calculated on an individual basis.
We work on a no win, no fee basis through a Damages-Based Agreement (DBA).
That means if we don’t help you recover money, you pay nothing.
You only pay if we successfully recover compensation or redress for you.
Our fee will be:
Up to 30% plus VAT of any compensation or redress recovered where your matter settles before court proceedings are issued; or
Up to 35% plus VAT of any compensation or redress recovered where your matter settles after court proceedings have been issued. Click here to find out more about our Fee's
If your complaint is successful, your bank may decide to reduce, remove, or close your overdraft facility or banking account as part of the outcome of the complaint..
This depends on the banks policies and your individual circumstances.