What are the signs of being mis-sold credit in the UK?

• Mis-selling can affect loans, credit cards, overdrafts, car finance and other credit.
• Key signs include poor explanation, missing information or sales pressure.
• Lending that leaves you unable to cover essential bills may have been unsuitable.
• You can complain and ask the firm to put things right if you think you were mis-sold.
• If the firm doesn't resolve it, you can usually go to the Financial Ombudsman Service.

"Mis-sold" credit doesn't just mean you regret taking it out. It means you weren't given the right information, the product wasn't suitable for you, or the lender didn't follow the rules when they agreed the credit.

Common warning signs include:

• You didn't understand the interest rate, fees or how long it would take to repay.
• Important risks (for example, losing your car or home if you fell behind) weren't explained.
• You felt pressured or rushed into signing up, or were told you had to decide immediately.
• The lender or broker didn't ask about your income, regular bills or existing debts.
• Repayments quickly became unmanageable and you had to borrow again to keep up.
• Your credit limit was increased without a proper check to see if it was affordable.

If you think you've been mis-sold:

• Collect statements, agreements and any messages or emails about the sale.
• Complain to the lender or provider, explaining clearly what went wrong.
• If you're unhappy with their final response, contact the Financial Ombudsman Service, which is free and independent.

Sanderson Drake focus on mis-sold and irresponsible lending claims and can review your credit history to see whether you may have grounds to claim compensation.