Claim Assessment Report for Testy McTestface
- Agreement ID:
- Johnson1
- Lending institution:
- Testy Lenders
- Loan amount:
- £100.00
- Total Commission:
- £100.00
- APR:
- 5.0%
- Total cost of credit:
- £2.73
- Monthly payment:
- £8.56
- Agreement Start:
- 2016-01-01
- Agreement End:
- 2017-01-11
- Early End:
- No
- Predicted Redress:
- £131.83
This agreement aligns closely with the Johnson v FirstRand Bank Limited case. This is because the agreement contained an undisclosed contractual tie and/or DCA, and a very high commission (>50% of total cost of credit and 22.5% of the loan).
This should entitle you to redress of all commission, plus interest.
In light of the above evidence, we estimate that this agreement can expect a redress payment of at least £131.83.