Before your lender approves you for a loan, they should conduct a proper affordability check to assess whether you can safely afford to make the repayments. The lender should also take into consideration your: 

• Income 
• Credit scores 
• Existing loans 
• Current debt level

At Sandstone Legal, we have handled numerous cases where people have been incorrectly approved for a loan or financial product they couldn’t afford. Which is why we offer a free health check service to identify where you may have fallen victim to a consumer credit breach.  

If you’ve had any of the following in the last 10 years, we’ll check it! 

• A credit or store card 
• A secured loan or car finance agreement 
• A mortgage 
• An unsecured loan or payday loan 
• A Bank Overdraft
    

A lender should never approve you for a loan if they know it could lead to financial complications in the future. And while most will act fairly and never offer you a financial product you can’t afford, others have been known to act irresponsible, or predatory, if it meant they could profit from the higher fees or interest rates. We take court action against these lenders to mitigate the financial difficulties they’ve caused and help you get back the money you’re owed.   

If you think you could be a victim of irresponsible lending, fill in our free consumer credit breach health check today. Once you’ve completed the short form, we will investigate whether any credit breaches, such as irresponsible lending, apply to you. If so, we can act on your behalf and help you get back what you’re entitled to.