Martin Lewis says you could get over £ 4,000 back if you took out a loan


Money saving guru Martin Lewis has given some important advice to anyone who has taken out a payday loan in the past.

The 47-year-old gave the Martin Lewis Money show’s advice on Monday, and if viewer commentary is anything to go by, it has the potential to save thousands.

During a segment, the expert explained how people who have taken out payday loans can often claim repayment.

He said: “When you get a payday loan, they have to make sure that you have the capacity to pay it back, you know it’s a short term loan and you know the terms.”

Martin then advised people to consider paying off payday loans.

The reporter told viewers, “Don’t pay anyone to do it for you. There are free tools and guides that will do it for you, and I want you to go take a look and claim a payday loan. payday loans you have had.

“You might be able to get a good chunk of the money back, which can help along the way. Ultimately it might end up going to the creditors, but that’s good.”

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Later in the episode, Martin was asked by co-star Angelica Ball about the extent of payday loan clawback.

He told her, “This is absolutely huge, you have to keep going. It’s about recovering the interest – but it can be huge.”

Martin also explained how one viewer made more than £ 4,000 using his advice.

The viewer, called Natalie, said: “Thank you, I saw your payday loan repayment information and a company is paying me back £ 4,172 and a dime.”

Speaking of Natalie’s victory, Martin explained, “The problem with that is that so many people are claiming, the payday loan companies go bankrupt. And, if they go bankrupt, you are unlikely to get anything back. whatever, so keep going. Do it sooner. “

Martin concluded: “There are so many people in horribly debt. I always push these nonprofit agencies because they can sit there, go over the details, talk to creditors for you and make sure that it is. is better and it works. “

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