UPDATES:
Do not use the templates on this page for the following lenders, instead see the specific page:
- Amigo has set up a Scheme of Arrangement. The deadline for making a claim has now passed, see Amigo’s Scheme for details.
- Buddy Loans went into administration in September 2021, see Buddy Loans goes into administration.
- George Banco & Trust Two set up Scheme of Arrangement, the deadline to make a claim to this has passed, see Everyday Loan Scheme for details
- TFS Loans went into administration in February 2022, see TFS Loans goes into administration.
Guarantor loans are very expensive. Often the lender didn’t check properly that you will be able to manage the loan repayments without having to borrow more.
If proper checks would have shown that you couldn’t afford the repayments, complain! There is a template letter in this article to help you.
You can get an existing loan reduced so you only repay the amount you borrowed, or get a refund if your loans have been repaid. If your complaint is rejected you can send the case to the Financial Ombudsman (FOS) who is upholding a lot (90%!) of guarantor loan complaints.
If you are the guarantor not the borrower, read Complaining if you are a guarantor which has a different template letter to use.
Contents
What is an affordability complaint?
A loan is not affordable if paying it left you so short of money you had to top up the loan, or borrow more from another lender or get behind with bills.
Does this sound like you? Then make an affordability complaint.
Just making the payments doesn’t prove the loan was affordable! You may have been repaying with difficulty, taking out other loans, because you didn’t want your guarantor to be affected.
You can complain if you are still paying the loan or if you have repaid it all.
If you win your complaint:
- interest is removed from a loan you still owe, so you only repay what you borrowed;
- your guarantor is released from the loan; and
- you can arrange to pay the remaining balance at a reduced rate.
When your loans have been settled, you get a refund of the interest you paid.
What should the lender have checked?
Guarantor lenders should have checked the loan was affordable for you before giving you the money.
The lender should have made sure you were likely to be able to make the repayments for the whole length of the loan.
Guarantor loans are large financial commitments. So I would expect a lender to have asked for evidence of your income, to have checked your credit record, and to have verified your expenses.
Some things a lender may have got wrong:
- It doesn’t matter if your guarantor is well off, the loan has to be affordable for you!
- You may have given said your expenditure was lower than it was, because you were guessing or desperate. The lender should have checked your figures.
- If you were self-employed or had wages that varied, the lender should have looked at how your income went up and down.
- The lender should have checked your credit record to see all your debts. If you had recently taken more loans or missed payments/defaulted, the lender should have been careful as your position was getting worse.
- When you top up a loan, the lender should check the new larger loan is affordable. If the current loan was causing you problems or your finances had got worse you shouldn’t have been given a larger loan.
If you feel there was something else unfair about your case, add that into your complaint as well!
What would a “fair solution” be?
If the lender or the Ombudsman decides the loan wasn’t affordable, this is what happens:
- The loan has been repaid, then any interest you paid should be refunded to you.
- The loan is still outstanding, then interest should be removed from the balance that is owing, so you only repay what you borrowed. Your guarantor should be released from the loan. The lender should accept an affordable monthly payment from you to repay the rest.
- Any payments made by the guarantor are refunded to the guarantor, not to you.
Will a complaint affect your guarantor?
Complaining won’t affect your guarantor if you carry on making the payments. The guarantor shouldn’t be told you have complained unless your complaint is being upheld.
If you stop paying the loan when you make a complaint, the lender may decide to get your guarantor to pay it. If you don’t want this to happen, you have to somehow carry on making the payments even though it’s hard.
If you can’t afford to carry on paying and you don’t want to hurt your guarantor talk to a debt adviser about your options in this difficult situation.
Making an affordability complaint won’t make things worse, and it may help in a few months time, but it isn’t an immediate escape from your problem.
Think about whether your guarantor also had a good reason to complain – see Complaining if you are a guarantor for details. If they win a complaint, they will be removed as a guarantor, which would take a lot of pressure off you.
How to complain to the lender
A template complaint to use
Don’t use this for Amigo of Buddy – see the update at the top of the page.
For all other guarantor lenders, including ones that have stopped lending, send your complaint by email – here is a list of lender’s email addresses.
Use SAR AND COMPLAINT BY BORROWER as the email title.
Here is a template. Change it to describe what happened to you and delete what doesn’t apply.
Only put this in if it applies to you: I took a top up of [£2,500] in [March 2018]
Add a reference number for the loan or give some other details such as your date of birth and your address when you took the loan out.
Please send me a copy of all the personal information that you have about me, including but not limited to all credit record checks, a copy of my loan application(s) and recordings of all phone calls from me. You have 30 days to reply to this Subject Access Request (SAR).
I am making an affordability complaint. This loan was/These loans were unaffordable for me and you would have realised this if you had checked properly before giving me the loan(s).
Delete or change any of the following so they are right for you:
[You would have seen from my credit record that I had recently missed payments/had defaults/was in a DMP/IVA.]
[I was on a low income/My only income was my pension/benefits.]
[You did not ask me for proof of my income or expenses and you did not ask about my expenses in detail.]
[I get ESA/PIP/DLA but you did not ask me if I had any extra expenses because of this.]
[I had a gambling problem which you could have seen from my bank statements.]
If you topped up the original loan: When I topped up the loan you should have seen from my credit record that my financial situation had got worse. [delete if not relevant: You ignored the fact that I had made several payments late to you.]
If you still owe money:[I am asking you to remove the interest from the balance so I only have to repay what I borrowed, release my guarantor and allow me to make lower monthly payments.]
If the loan has been repaid change that to [refund me the interest that I have paid plus 8% statutory interest.]
If you don’t want your guarantor to be told: [I want to carry on making the normal monthly payments because I do not want my guarantor to be affected. Please note I do not want my guarantor to be informed about my complaint unless my complaint is upheld.]
You have 8 weeks to respond to my complaint before I send it to the Financial Ombudsman.
If you would like some help with this, then go to your local Citizens Advice.
Definitely send bank statements!
It’s good if you can attach bank statements to your complaint. Send three months of statements before each loan or top-up and two months afterwards. So if you had a loan in August 2017, send statements for May-September 2017.
These statements will show how unaffordable your loans were. Don’t worry if there is gambling showing on the statements – that helps your case!
Don’t delay starting a complaint if you are trying to get your bank statements – just add them later. But now is a good time to get the statements as they can help your case.
Also get a copy of your credit record if this will show defaults, that your debts were increasing, that you had a large overdraft etc. Download this and keep it.
What to do with your personal information (SAR)
Copies of personal information (SARs) are often sent out by post, so if you have moved, make sure the lender has your new address. You should get the information within 30 days. It is often sent on a CD with a password.
This information is not the lender’s response to your complaint. Most lenders will send that separate from the SAR, usually a few weeks later.
You don’t need to do anything with the SAR, just keep it safe. You have asked for it now so that you have the details in case the lender rejects your complaint or makes a poor offer so your complaint has to go to the Ombudsman.
Taking a complaint to the Ombudsman
If the lender rejects your complaint, go to the Ombudsman
Don’t delay in sending a case to FOS – it has to go within 6 months. And while you have an “open” complaint at FOS, the lender cannot take you to court.
Lenders seem to reject many complaints and hope you give up! So don’t be surprised if a lender says No, the loan was affordable or We based our decision to lend on your application which was inaccurate.
If the lender says No, or you haven’t had a reply 8 weeks after sending your complaint, send your case to the Financial Ombudsman (FOS) the best way to do this is by using the FOS online form.
This is free to do and easy – you don’t have to quote laws or regulations. You can just send FOS the complaint you sent the lender. And if they have replied and said something that’s wrong, mention that as well.
You don’t need to go into details – a short FOS complaint is fine. If you want to add more details, read How Subject Access Request information can help an affordability complaint. But you don’t have to do this.
If only some loans are refunded, is this fair?
Sometimes a lender will say that just a few loans are unaffordable and remove the interest. Which is good, but should it be better?
If the rejected loans caused you difficulties and led to you needing a top-up, send your complaint to FOS and say you think the earlier loans too should be refunded.
Are you likely to win your Ombudsman complaint?
The Financial Ombudsman is agreeing with the customer on 90% of cases!
It is much simpler to win a case at FOS than a court case. If a lender has already started a court case against you, Citizens Advice can help you get the court case “stayed” (that’s legal jargon for put on hold) while you take an affordability complaint to the Ombudsman.
Complicated cases & help with guarantor loan complaints
If you want help with these complaints, Citizens Advice can help. Every Citizens Advice has access to the national Specialist Debt Advice Service if this isn’t something an adviser has come across before.
Leave a comment below this article to discuss what to do or talk to Citizens Advice if:
- your guarantor has made a lot of payments.
- you have been bankrupt, in an IVA or a DRO – read guarantor loans & insolvency .
- you have a CCJ from the guarantor lender – read guarantor loans & CCJs.
- if your debt has been sold to a debt collector.
Do not use a Claims Firm or a solicitor that is acting as a claims firm. There are two good reasons why you should avoid them:
- they will probably do a very poor job. They are not experts. They won’t put time into looking at your personal case.
- if you win a case but still owe a balance, this is usually just reduced. But the claims firm may expect you to pay their high percentage fee immediately even though you have not received any cash refund and still have the rest of the loan to pay.
Can you get an overdraft refund?
Card limit too high? Ask for a refund
Complaints about bank & other large loans
George says
Hi Sara,
Not an affordability question but didn’t know where else to ask it. More a data breach query. UKCredit hadn’t taken my payment and I phoned them at 9:30 this morning to ask why, they said it was showing as paid and will likely show in my account soon, thought this was weird but was going to wait until tomorrow.
Got a call at 7pm from them tonight asking why I had filed an indemnity claim with my bank and requested a refund, explained I hadn’t and that I wasn’t sure what they were talking about. I then asked for clarification of the account number and sort code on the account, turns out, they have put details completely wrong on my account in January, taken payment from someone else and they’ve then asked for this to be refunded – all of which I had no idea about! Even worse, the advisor gave me those details even after clocking they may not even be mine! I phoned the bank immediately and everything is in order their end so UKCredir have screwed up totally somewhere.
Theyre investigating and have told me I’ll hear back soon. This caused me major distress this evening thinking I was a victim of identity fraud – not good!
What can I do? What worries me more is if its a batch upload, I may not be the only account affected! Is there a data breach claim here?!
Weatherman says
Hi George
Not good at all! You could make a complaint and a request for compensation for the distress – and if they refuse, you could go to the Financial Ombudsman Service. There’s no guarantee you’ll get anything though, and if you do it’s unlikely to be more than £50-100. If they don’t resolve your issue you can also go down the same route.
For a serious breach affecting many people, UKCredit should report it to the Information Commissioner’s Office. But if it’s lots of individual cases (rather than one large incident like a spreadsheet getting lost, etc) it might not meet that threshold unfortunately.
NicolaJane says
Hi Sara,
I am awaiting a complaint settlement from amigo loans. The complaint was raised through the FOS and I received an offer on December 29th 2020 in which I accepted.
I am now waiting for contact from amigo loans – however it seems to be me contacting them all the time. It has now been about 9 weeks and still nothing all they keep telling me is that they need to calculate the figure or settlement even though I have already had a figure from the offer which I have accepted. In my eyes I feel like this is an unnecessary delay.
Do you have any advice at all on how I can shimmy Amigo along a little as I am rather in need of this settlement.
Thanks In Advance
Sara (Debt Camel) says
This sounds like one of the small number of cases that has been progressed after Dec 21st because you were treated by FOS as being in a vulnerable category. Do you mind saying why you were given priority and why you need this urgently?
Becqui Lewis says
Good morning, finally I have had a response from amigo they are paying me enough to take away all my loans and leave me with 927.00 there was no statutory interest added is that right. Tbf im happy to accept it anyway and just have it gone and over with but thought that this was part of the payout.
Sara (Debt Camel) says
Is this for loans 2 & 3 or loan 1 as well?
I cannot think of a good reason why they have not added statutory interest.
You could ask them?
If you decide you are just fed up and want to accept, it would be good to tell your adjudicator that you are doing this even though Amigo has not added the statutory interest which you think is wrong.
Becqui Lewis says
In the email it says for all loans so I’m guessing they have done 1,2 and 3. I am justvglad for it to be over. Thank you for all of your help over the last year
Laura says
Hi Sara,
Just a question regarding DSAR. I have a complain in with the FOS regarding Amigo. The FOS came back to me 2 weeks ago upholding the complaints against loans 3 and 4 of my 4 loans and saying loans 1 and 2 were affordable. I had a DSAR back in December and I thought that Amigo had sent me everything. I spoke to the FOS regarding loans 1 and 2 as I had lots of defaults and a CCJ at the time and he said that Amigo had checked my credit file properly and there were no defaults present on it back in 2014 (the dates of loans 1 and 2.) I’m not sure how that’s possible as most of the defaults were from 2011 onwards. Also during an initial call with Amigo I had to sit with them and go through all the defaults and explain the situation. I was at the time considering a DMP and said this to Amigo. I asked for the FOS to send me the reports as they weren’t including in the DSAR for some reason and they said no, I would have to contact Amigo. 2 weeks later Amigo have just replied saying that they can’t access the file from 2014 due to “data laws.” What the heck do I do now? I don’t have access to my 2014 credit reports but I know for sure that I was in serious debt at the time. The DSAR file that Amigo sent me included some phone calls made back in 2014 but the call where the debts were discussed is missing. Are phone calls subject to different “data laws” than credit reports?
Sara (Debt Camel) says
do you have any evidence that there were defaults and a CCJ earlier, not necessarily a credit report but emails or letters?
Phone calls and credit reports are just “personal information” and subject to the same GDPR/data protection rules that all personal data is. Of course Amigo may be choosing to delete some informationsooner than yother information.
The phone calls in the DSAR you were sent – were they all later than the one that is missing?
Laura says
No the phone calls were all at the beginning of May 2014 so around the same time. I should be able to get information from the credit card companies confirming the defaults, they do show on the 2016 credit checks which is why the FOS has agreed with my complaint, I just can’t understand why they wouldn’t be on the 2014 checks unless Amigo didn’t look properly.
Sara (Debt Camel) says
If they show on the 2016 credit checks then they would have shown on the earlier ones.
This is very odd. Go back and argue with your adjudicator. Seriously.
Laura says
I have spoken to him this morning and he’s going to look at it again. Also spoke to Amigo and they confirmed that the reason they can’t provide my credit reports is because they have been deleted. How long should Amigo be keeping this information? Is it normal for a company to delete customer information during an ongoing investigation? That seems crazy!
Sarah heydon says
I sent my complaint to amigo in September, didn’t hear off them until December with my SAR, but had already sent to FOS. I also had a 6 month payment break. The FOS have acknowledged my complaint and I am I a queue for a handler.
My Sister who is my guarantor has also put a complaint into amigo in February.
Today I have received this and obviously my sister is now worried as am i, she owns her own house and her mortgage is due to be paid off this year. Any advice would be great.
Sarah, As there is no resolution in place, soon you may be issued with an LBA (Letter Before Action), this is a legal notice which will allow you to come to a resolution prior to a court claim being considered. In Court, an order for the full balance will be sought. A CCJ may be issued against you and Leann, where it will stay on both of your Credit Files for up to 6 years. If you’re in a position to do so, please arrange payment of the arrears.
Sara (Debt Camel) says
What you have been sent is a threat of court action “you may soon be issued” – it does not say this is actually going to happen.
I think this probably comes under the heading of another Amigo unpleasant attempt to bluff your sister into paying.
I have not known Amigo go to court when they have an open complaint from a borrower or a guarantor that they have not even replied to.
If they do send her (or you) a “Letter Before Action”, then she can wait three weeks and then return it to them saying she is taking debt advice. They have to allow her 30 days to do that. By the end of that time, Amigo will either be going into a Scheme or they are going into administration within a few weeks. There is not going to be time for them to take her to court before that!
For you your rent arrears have to be your top priority.
For your sister, you said she can’t afford to repay this debt.
I know they are being unpleasant but I am not sure you have any better option but carrying on not paying, have you? The chances are one of you (or both!) will win your complaints.
Sarah heydon says
Thank you for your reply, I have just sent it on to my sister.
No payments have been made, if I won my complaint I would only owe £1000 and I will gladly go into a more affordable payment arrangement with my sister removed.
Ricky says
Hi Sara,
I’m new to this and my complaint has been upheld by the FOS for Buddy Loans.
Just to add, I cleared the loan 30 days ago with a settlement figure payment of £3,131.25.
The FOS have said the following, what does this mean?
So, I think Buddy Loans should refund all of the interest and charges
To settle Mr XXX’s complaint Buddy Loans should do the following:
– To add up the total amount of money Mr XXX received as a result of having been
given this loan. The repayments Mr XXX made should be deducted from this
amount.
a) If this results in Mr XXXX having paid more than he received, then any overpayments
should be refunded along with 8% simple interest (calculated from the date the
overpayments were made until the date of settlement). †
I calculated that I only paid £80 more including the lumpsum payment this year and around 10 monthly payments. The loan amount was £5,000. Does this mean I will only get £80 back?
Or will they refund all the interest they charged me during the loan? I’m so confused.
Sara (Debt Camel) says
I calculated that I only paid £80 more including the lumpsum payment this year and around 10 monthly payments. The loan amount was £5,000. Does this mean I will only get £80 back?
Yes.
But sounds unlikely to be correct.
How much did you borrow? You got all that amount in cash?
How large were your monthly payments – you made 10?
Ricky says
I got £5,000 from them.
Term 60 months
Monthly payment £197.62
Interest 49.9%
Total repayable £11,781.90
The payments I made were (sometimes I was late so I paid extra)
£298.45
£209.62
£250.00
£150.00
£250.00
£197.62
£200.00
£197.62
£197.62
£3,131.25 (Settlement figure)
Interest they charged me was
£259.36
£171.47
£170.54
£250.71
£166.95
£166.95
£166.95
£166.95
£166.95
Sara (Debt Camel) says
so yiou did only pay about £80 in interest.
Odd, but unless you missed a number out (you said 10 monthly payments and only listed 9) that that is what you paid. The amounts they calaulated agasint each payment as “interest” were only if the loan ran to maturity, by settling early you saved a lot of interest.
Were any of your late payments marked on your credit record? because they should also be removed.
Ricky says
Yeah I missed payments in the last 12 months, so these will be removed?
So in a nutshell the interest acquired was nothing then basically? I won’t get any of those interest figures back? I did ring Buddy loans and they told me I paid £843.74 in interest during my time as a customer, how and where would they have got that figure?
Sara (Debt Camel) says
Missed payment markers on your credit record should be removed.
If BL said you paid £834 then it is hard to know what to say. because the numbers you gave are very strange so there may have been some mistake in them.
I suggest you have to wait and see what BL say!
Laura says
Hi,
This is for anyone seeing this who might be able to give some feedback on how their redress went?
The ombudsman have upheld my affordability complaint for TFS today. I’m in need of this payment for medical help, and just wondered if anyone else who had it upheld, if they paid out at a responsible speed of it they might try and elongate it.
Would really appreciate any answers.
Thank you.
Sara (Debt Camel) says
was this an adjudicator decision or an Ombudsman decision?
Laura says
Ombudsman. So they said it’s legally binding (I think). They said to get back to FOS if I haven’t heard from TFS in four weeks. I’m so hoping it’s before then because things are really hard right now.
Sara (Debt Camel) says
do you still owe TFS any money? if you do, cancel your next payment!
Laura says
No, thank god. This was paid off six years ago. I imagine they’ll take as long as they possibly can, although, hope they miraculously pay out quickly. Hope my case can be resolved speedily, and then I can give others hope!
Crin says
Has Amigo actualy paid out any redress this year do we no? It appears a number of us have accepted offers from amigo without them paying it.
I rang up as fed up of waiting and was told firstly they need to see if guarantors want redress ( we all filled in the redress questionaire in Nov), next they need to work out figures…I’ve accepted a offer already so they no the figures.
It feels like slightly further along the line but they are still delaying….experience tells us with amigo of they are stalling ot wony be good news for customers
Joseph says
Yesterday I was contacted by amifo and had to call them to confirm bank details and they said the redress should be in my bank within 15 days. I hear many other people are in the same situation so I’m not so confident in them paying me.
Sara, can anybody waiting to be paid by amigo after accepting an offer complain to the FOS further? Surely a company cannot make an offer and then keep customer waiting months?
Sara (Debt Camel) says
yes in theory. But it takes a long while for FOS to pick up complaints, so it may not be much help.
Crin says
Hi Joseph,
How long before Amigo made their offer and them ringing you up?
Thanks
Joseph says
Hi Crin,
Surprisingly the FOS contacted me on 22nd February to say that amigo had come back to them with an offer.. I was then sent an email on 1st March asking to call a number to confirm details.. So about a week from when FOS contacted me to when amigo made contact. I just hope they pay me because I’m very concerned I am going to be waiting and waiting!
Laura says
Hi, was this a partial offer they made? I got one of these from amigo through FOS but I didn’t take it because they were only making the offer on loan 3 out of four, and I worried that they would then add “unpaid interest” and I would end up owing them. I don’t know if I should have turned it down, but it was about 10k less than what they would have to pay. The FOS upheld all loans. My main concern was them swindling it somehow so that I ended up worse off because they only made the offer on one loan. Hope they pay you. I have no hope they will get back to the FOS about their decision now.
Joseph says
Hi Sarah
It shouldn’t have been a partial offer no, FOS said I accepted and that did would now shut my claim and its left to amigo to sort out. They said again in an email today that it can take up to 15 days for the money to reach my account. Let’s just hope it does and I hope that everybody else in the same situation will get paid too.
sam says
Submitted claims against Amigo and TFS Loans back in October 2019. Both initially rejected by the company. Referred to Ombudsman.
Amigo loan picked up by Ombudsman September 2020 and Adjudicator found in my favor December 2020 – was pretty sure I was getting put on the scheme as I didnt hear anything back from Amigo after the Adjudicator had emailed saying they had accepted his decision but then out of the blue they emailed last week and are paying all redress on 2 loans.
TFS Loan was picked up by an Adjudicator in October 2020 – TFS argument was that I was 2 days over the 6 year point when I submitted my complaint. Adjudicator went in my favor but TFS still refused so waiting on an Ombudsman picking the case up which I was told to expect 6 months. Really hopeful for the decision on the TFS loan as this was in between the 2 Amigo loans that were ruled in my favor – All 3 loans were taken out in the space of a year.
Regardless of the outcome of the TFS loan, the redress from Amigo will clear the last outstanding debts on my credit file. In the last 6 years I have gone from being fully dependent on payday loans and being evicted from my rented house to being debt free and actually thinking I might be able to buy my own house in the not too distant future. Couldn’t have done it without this site.
Thank you so much
Mel says
Hi, I just wanted to share my experience with UK credit and bamboo loans.
UK credit upheld my complaint, I waited about 5 weeks for final response but they communicated well with me throughout, they waivered my remaining balance as I had paid back what I borrowed and gave me a refund of £300 (paid into my bank account within 7 days).
Bamboo have taken a bit longer, they did not uphold my complaint and offered me a goodwill gesture of reducing my balance by £600. I then emailed back and stated I was going to go to FOS. They then immediately emailed back saying they are going to reinvestigate my case and get back to me within 7 days. The next day someone rings me and basically asks what I want to happen, I knew I had paid the amount borrowed (£3,500) I wasn’t looking for any form of refund I was just happy for the loan to be closed and remaining balance of £2000 to be waivered. They then called me back the next day and have accepted this, I know if I took them to FOS I prob would have got a small refund but just happy to be done with them really. Sorry for the long message but I just wanted to share my story, hope it helps other people who are going through similar problems. Many thanks for what you do Sara.
Michelle says
Sorry to be nosy but can I ask did you have more then one loan or top ups with U.K. credit ?
Mel says
I had just one loan with them for £3,500. I sent them bank statements which they asked for and they could see that I had multiple other loans at the time and I was gambling at the time. So pleased with the outcome.
Michelle says
Thank you for the reply ,
Iv have one loan with them that I took out on September 2018 I took out a £10k with amigo the month before which I won my case against I also had 6 payday loans around the same time , but iv had awful trouble with U.K. over the years I am a bit nervous to complain against them as my mum is guarantor and don’t want any hassle for her , iv been trying to sort out a payment plan with them due to off work and Covid but they are making it so stressful
X
Sara (Debt Camel) says
I suggest making a complaint and at the same time asking for a repayment plan. These are not alternatives where you can only do one! The more awful a lender is, the better to make a complaint, otherwise you will be stick with dealing with them for a very long time.
Michelle says
Hi Sara , thank you for such a great page have found it so helpful and won many case , I won my case against amigo in November 2020 , 2 out of 3 loans were upheld loan 3 was for 10k at £342 month repayments which Was upheld as irresponsibility lent , loan 1 was won but loan 2 was not upheld there is remaining balance of unpaid interest from loan 2 ( I’m not sure what that means ) I called them and agreed a payment plan to clear the remaining balance , they were adamant I had to continue paying the £342 which was the original payment for loan 3 which they have agreed was unaffordable and lent to me irresponsibility ( can they do that ? ), I offered them £70 a month to clear the remaining balance , which they finally agreed to for a SHORT term solution during Covid , but since November they have put 4 late payments on my credit file and it says I’m in arrears ?
I have raised a complaint with my credit file transunion I have tried to contact amigo about this ( calls , emails , texts ) no response are they allowed to demand payments at the original amount even thought I won my case against that loan and can they report my loan as in arrears when I should never have been given it in the first place and have a plan in place ?
Thank you
Sara (Debt Camel) says
This may sound irrelevant, but do you have other problem debts?
Michelle says
Yes I have multiple credit cards, guarantor loans and pay day loans , iv been out of work due to Covid as self employment not entitled to any benefit, they said if I can’t pay more they will look at my husbands income and outgoings to see if he can pay it , but he isn’t guarantor and had nothing to do with the loan
Thanks for the reply
Jacqui says
Has anyone won there claim from buddy loans , they’ve told me there having to look into mine further and will tell me the last day that I’m due the outcome
Sara (Debt Camel) says
Have you sent them bank statements?
Jacqui says
No I haven’t should I send them
Sara (Debt Camel) says
yes! They support your statement that the loan was unaffordable.
jacqui says
thankyou i will send, has anyone won there case first time round or have they had to take it further with the FOS?
Sara (Debt Camel) says
You should expect them to reject your complaint or, if you have more than one loan, to make a poor offer I am afraid.
Emma says
I won on loan 2 but not loan 1.
Went all the way to the ombudsman as buddy disagreed with aducator.
I’m just waiting for them to pay now.
N goss says
How long did process take and did they pay all due?
Mark says
I’ve just had an offer from TrustTwo less than 2 weeks after submitting the complaint. They’ve offered £400 plus 8% on loan one but nothing on loan 2.
Sounds good but they neglected to include the £1700+ taken from of the reloan amount to pay off loan 1 and misquoted information about loan 2 in their final response. So I’ve responded giving them a chance to rectify the mistake themselves and take another look at loan 2, it’s a good start, a lowball offer in the hope I’d snap it up but I should be entitled to about 5 times the amount they’ve offered on one loan, plus I’m hoping I win on loan 2 as well so I can buy a new car without ridiculous finance.
Simon says
Hi Sara
Just wondered if you know of many cases where an Ombudsman has overturned an adjudicators decision in favour of the customer?
I’ve been dealing with a particularly stubborn adjudicator who I believe has missed several key points that the FOS state on their website they will look into during an investigation.
I’ve bought this to her attention and made several other good points but she’s basically ignored all this and is just saying my income made the loan affordable and all I can do is wait for an Ombudsman to make a final decision now.
Obviously I will do this but realistically am I wasting my time? I’ve read that 90% of the time the Ombudsman just agrees with the adjudicator, which makes the whole system pretty pointless if that’s correct. Do you know if this is still usually the case?
Sara (Debt Camel) says
The 90% figure is correct across all FOS cases. But in a lot of these cases it is the lender who took it to the Ombudsman, so that isn’t 90% “against the customer”.
People here have won in this situation.
You are a long way through this process, why give up now?
Simon says
OK, well that’s good to know. I won’t give up. Fingers crossed I can get the case looked into more thoroughly by an Ombudsman.
Thanks Sara
C says
Does anybody know how long UK Credit take to pay out redress please?
Elly says
Hi Sara, thanks for this helpful page , iv made a complaint to U.K. credit , the next day the email to say can I send bank statements for 2 months before and 1 month after loans was paid out , iv since had 3 more emails pushing for these statements, I’m concern to send them in as I have loads of gambling transactions on them from around that time as I had a problem ( which is sorted now ) will this effect my complaint ?
Thank you
Sara (Debt Camel) says
Send those statements! They support your claim that the loans were unaffordable.
If you don’t your complaint is MUCH more likely to be rejected.
of course it may be rejected anyway and you will have to send it to the ombudsman, but give the complaint to UK Credit the best shot by sending the statements.
Elly says
Thank you for the reply ,
I may have also told a few porkies about my expenditures and other credit commitments when I first applied as I was desperate at the time , they will see all this from my statements I send as well as the gambling , I’m worried they will report me for being fraudulent?
X
Sara (Debt Camel) says
Sometimes lenders threaten this but no one has ever done this.
It’s up to you – I am just saying you are more likely to have UK Credit uphold your complaint if they see the bank statements.
And you will have to send the statements to FOS.
Alex says
Hi, i too sent UK credit an affordability complaint and I did lie about my expenditures, but if they would’ve asked me for bank statements before they gave me the loan, they would’ve seen that I wasn’t being truthful. I had a big gambling problem and I would’ve said anything to get the loan. I sent them the bank statements when I put in the complaint. They upheld my complaint and signed off the remaining of my loan plus sent me what I paid extra. Just thought I’ll tell you my experience.
Elly says
Thank you so much for sharing your experience Alex , I feel much more relaxed about it now , and have now sent over the statements so fingers crossed
Elly says
How long after you send bank statements did you have to wait for a decision Alex ?
Alex says
I sent my bank statements when I sent the complaint and it took less than 5 weeks for their final answer. I thought UK credit are very quick and fair in their offers and answers. I thought they’ve been very good at keeping me updated too. Hope this helps
Laura says
Hi Elly,
Could you assist me with how you worded that to your creditor please? I am in the process of the same thing?
Sarah says
Hi. I have just received a decision from the FOS investigator who has upheld my complaint against TFS loans. However the business has disagreed and asked for a final decision from an Ombudsman. Does you know how long this usually takes?
Andrea says
Mine got sent from the adjudicator to the Ombusman mid October on a TFS decision as of yet not heard a thing!
njw says
For me adjudicator found in my favour July 2020, TFS disagreed but kept failing to respond. So in September 2020 was finally put in the Ombudsman queue and I received the outcome in my favour last week. and mine was a priority case
M says
I had a complaint against TFS which was upheld by the adjudicator in January 2020. TFS rejected their decision so it went to the Ombudsman for a final decision. It took 12 months to get a final decision – which upheld my complaint. TFS took the full 30 days to pay the redress to my account which I now have repaid and was the final complaint I had outstanding.
Hopefully your decisions will be much quicker.
Steffy says
Hi Sarah, did TFS meet the deadline to respond that the adjudicator set or did they delay this?
Sarah says
Hi, TFS met the deadline. They responded early in fact.
njw says
Hi, I have just won against TFS Loans. I contacted them and they said their policy is to make payment to me on the 28th day. I can’t really understand the rationale for this. However, FOS told me they have 28 days from when I accept the ombudsmans decision. TFS didn’t receive a copy of this until 4 days after I had accepted and are calculating the 28 days on this (which takes them over 28 days from my acceptance) I’m now confused as to who is right? Any ideas, Many thanks
njw says
UPDATE – TFS have told me that this is their policy as they draw down the redress from their funders so it takes 28 day to get to them. The only issue with this is that they received my complaint response on 04/03 so said they would pay me 01/04 (28 days later)… This would be fine except today (11/03) they have only just calculated the redress, so how on gods green earth did they draw the money on 4/03 in order to pay me on 01/04…. Unsuprisingly, they haven’t answered this question when I asked!!
Nick says
Surprise surprise
Jemma says
Can I ask how long the process has taken? My complaint was July 22nd the rejected 23rd July. It went to the FO that day and has just been picked up yesterday.
Sara (Debt Camel) says
who is the lender?
Jemma says
TFS loans. I was a few weeks past the 6 year mark so they wouldn’t look at it. I have confirmed to FO that I was unaware that I could complain.
Sara (Debt Camel) says
OK, then I am afraid this could take a while as it has to go through a separate “over 6 year” check before anyone actually looks at your case at FOS.
Njw says
I had a separate case that failed on rule of 6 at FOS. I challenged it under rule of 3 and felt my case was quite strong, I was unaware of the circumstances due to a learning difficulty, I provided documentary evidence to fos which the average person would have deduced highlighted i only reasonably become aware of it within the last 3 years but fos still threw it out. So I think any challenge you have to the rule of 6/3 needs to be very compelling.
Sara (Debt Camel) says
sorry to hear that – most of these over 6 years cases are being won easily, it’s rare to lose one, the only problem is they take some time going through,
nick says
Hi Sara
I have sent the template to Buddy loans, they have replied saying they have recieved request for the information which can take 30 days,
would this mean that the complaint they will investigate from those 30 days or they will investigate my complaint while they get me the information requested?
Thanks
nick
Sara (Debt Camel) says
If you sent the template from the article above, then your complaint has already started and they have to reply to that within 8 weeks.
Nick g says
Thanks should I send them bank statements now?
Sara (Debt Camel) says
yes, good idea.
Nick says
We have up to 8 weeks in order to investigate complaints, and 30 days in which to send information requested under a Subject Access Request.
Please send any documentation you want to provide to us to this email address which is.,,..
They sent me this so nice to get recognition
Peter says
Has anyone had any luck with complains against George banco without needing Fos ?
Thanks
C says
I’ve had an adjudicator rule in my favour against TFS. He had to use my evidence as TFS didn’t even bother to send the business file. I’ll join the queue for an Ombudsman!!
X says
I’m in similar position as you, TFS seem to disagree with all adjudicator decisions. They have until next week to reply to my adjudicator but I’m not hopeful they will as they have delayed at every stage possible, and then when they do I already know I’m going to have to wait on an ombudsman to look at my case lol, been going on now since 2019 as TFS keep stalling.
njw says
Tfs don’t seem to accept at adjudicator, In fact they don’t respond. They delayed mine for 12 weeks at adjudicator then didn’t even send a final response. I won at ombudsman and am now trying to get my money from them (see my earlier post about their redress payments policy) They’re a very small outfit and it’s very apparent from talking to one of their directors that they don’t have a great deal of knowledge as to how these things work. Mine was sent to ombudsman Sept 19, Adjudicator found in my favour July 20, Sent to ombudsman Oct 20 Ombudsman decision Feb 21… Mine was a priority case
Ive taken to emailing the directors and even phoning them daily
Peter says
Hi Sara ,
I was hoping you could help me with my situation,
So In the year 2019 I was struggling in a payday circle , so I took out a amigo , George banco and a buddy loan ( all in the same year 2019) I cleared all my payday loan with these but the payment to all 3 came to more £600 a month so ended up back in the circle , I now have 10 defaults, 23 missed payments and a CCJ 18 months later , I’m now with debt collectors with all of my credit accept for these guarantor loans , the first missed payment is on my credit file one month after taking out the buddy loan , I played down my expenses when applying for these loans and never sent any pay slips or bank statements to any of them , do I have a chance of winning any complaints against them ?
Thanks for you time
Sara (Debt Camel) says
It sounds as thought the loans are unaffordable so it is worth making complaints. Send your bank statements with the complaints.
It may be you are more likely to win the complaint about 2nd and 3rd guarantor loan rather than the first one, but there is no reason second guess this, you know the loans were unaffordable so start off all the complaints and send them to the ombudsman at 8 weeks if you have not had a reply of they are rejected.
This applies to Amigo even though they are likely to ignore your complaint as they are trying to enter a Scheme. You can still get your balance reduced in a Scheme or in administration if they go bust.
are you struggling to make repayments?
are your finances currently affected by covid-19? if they are, have you had covid-19 payment breaks with the lenders?
Michaela Morgan says
I complained to uk credit in August 2018. They refused my claim. I just accepted this at the time as theyd asked lots of questions about finances so i felt i wouldnt stand a chance in winning. Im now kicking myself for not taking it further i probably paid £15k in interest. Is there ANY hope at all of me fighting this now or should i just accept I messed up?
Sara (Debt Camel) says
no chance. (Unless their response to you did not tell you you had to go to the ombudsman within 6 months? That would be very unusual.)
Michaela says
No problem I thought that might be the case. So frustrating though. Thank you for taking the time to answer
Njw says
Hi,
As I documented before, I won against TFS and they said they would pay me on 01/04 in line with FOS direction. I asked them to expedite it citing financial difficulties ( reduced income due to COVID and vehicle finance arrears)
It was a priority case at FOS. TFS had delayed at adjudicator. So I thought this was a reasonable request
They point blank refused. Is there any point in highlighting this to FCA or is it acceptable for them not to try and support my financial difficulty?
Thanks
Sara (Debt Camel) says
You can tell FOS but realistically it isn’t going to get you your money any sooner. Horrible firm.
njw says
Sorry, I meant the FCA. The principles of FCA cite company should work with integrity and priciple 6 refers to working to customer interests. I think my situation shows TFS’s actions are to the contrary
Sara (Debt Camel) says
Yes, you could certainly email the FCA at consumer.queries@fca.org.uk and say you want to tell them about TFS loans (FCA number 724439) and its poor complaint handling of a vulnerable customer. Also copy in louisa.sutton@tfsloans.co.uk.
It won’t get you your money any quicker but it may help others in future.
Laura says
Hi NJW,
Please could I ask, did they give you a figure quickly? It’s been weeks and I haven’t even received my figure yet. I, too, am priority and have highlighted I need this payment for treatment and scans delayed by covid, and they’ve still not given me a figure. I also asked for a timeframe of when they might pay out and have not received a reply, despite repeated requests.
Thank you.
Njw says
Hi Laura
They have given me the figure today having received notification from FOS on 4th March. They will not pay out until 28th day though. They told me this was because they have to draw the money from their finders which takes 28 days. When I pointed out that they can’t do that as they haven’t calculated the figure yet they said they draw down money for all sorts of things and my redress would be included
I pointed out that was complete rubbish for obvious reasons and they won’t discuss it any further. Email Paul.Auger@tfsloans.co.uk he’s the director, he won’t help you but if enough of us start putting pressure on it might make him think
Laura says
Thank you for that. It is bad. They got notification from FOS for mine on 2nd March. First I got told I would get a figure on Monday, and then on Monday got told it would be by this Friday. You’ve got further than me, despite repeated requests, they wouldn’t even give me a timeframe.
I’ve just emailed them and said I will be making a complaint to FCA (thank you, Sara). For me, this is quite urgent now, and I’ve been nothing but polite.
It doesn’t make sense that I was two days ahead of you, and still haven’t received a figure.
Thank you for your help.
Njw says
It doesn’t, in fairness I’ve made a complete nuisance of myself. I’ve contacted all the directors by phone and email and challenged them on everything. They will probably be glad to see the back of me
In fairness, their calculations were spot on first time so that’s something!
Jo says
NJW did they actually pay you on the 28th day in the end?
IainHL says
Hello Sara,
You say:
If The loan is still outstanding, then interest should be removed from the balance that is owing, so you only repay what you borrowed. Your guarantor should be released from the loan. The lender should accept an affordable monthly payment from you to repay the rest.
This is my situation with a guarantor loan from UK Credit. They have found in my favour, and removed the interest, etc.
However my question is what constitutes “an affordable monthly repayment”? I offered to pay the outstanding balance over the remaining term of the loan, however using an I&E I completed for a recent payment holiday they are pushing for an amount about four times that, which would get them their money back a lot sooner (under a year, rather than about three). What they are asking for is technically affordable, but I don’t feel it is fair?
Thanks
Sara (Debt Camel) says
Is it really technically affordable? Not just for a month or two but for a whole year? You could talk to National Debtline on 0808 808 4000 and ask them to help you draw up an I&E that covers realistic expenses and then show that to UK Credit.
But also, wouldn’t it be nice to see the back of them?
IainHL says
Hello Sara, thanks for the reply.
Whilst I agree it would be nice to see the back of them, and yes, I could afford it for the whole year, it is just I feel that it is unreasonable of them to expect a repayment amount greater than outstanding balance divided by remaining term on the loan. I suppose I was just wondering if there were any guidelines (FCA or otherwise) about what the company should expect the monthly repayments to be after redress has been applied to a loan that is still outstanding?
Also, apart from them harassing me, what is there to stop me paying them what I decide is fair? It’s not like they are going to report anything to the CRAs!
Sara (Debt Camel) says
There are no guidelines in this situation.
Michelle says
Good morning Sarah ,
I just wanted to say with all your help I made my complaint to U.K. credit last week and on your advice sent bank statements, I’m over the moon to tell you today I had my final response ( only 8 days later ) and they upheld my complaint, bye bye U.K. credit , massive thank you to you for all you help , I’m one happy lady xx
JR says
Hi,
I sent an irresponsible lending complaint to TrustTwo/EDL a number of weeks back on a loan and subsequent top-up loan 2/3 years back. They got back to me this morning saying “As a responsible lender, we are obliged to carry out a number of suitability and affordability checks on all loan applicaons. These include credit, employment, affordability and identy checks. I have found evidence that all the necessary checks were carried out when this loan was given to you…. This was verified using Call Credit, meaning no bank statement or payslips were required…. I have also carried out an affordability calculaon, in which we used ONS data (office for naonal stascs) to work out your living expense as approximately £510. Including the financial commitments from your credit file it shows you would have had approximately £170 of disposable income remaining.”
I replied directly to their final response saying they didn’t check my bank statements and had they done that, I doubt I would have been approved for the loans – and attached bank statements from 3 months prior to the first loan being taken.
Just looking for advice on whether I should escalate to FOS, or am I just flogging a dead horse here? What would you do in this case?
Many thanks!
Sara (Debt Camel) says
You could email them to say your case goes to FOS in a week if they haven’t reconsidered their decision?
Lottie says
Hey, has anyone had any redress from Buddy loans? I got my FOS decision from the adjudicator who said they were wrong and they need to put it right. Just wondered if anyone was successful or if they passed to ombudsman regardless of FOS decision!
Andrew says
Mine was passed to ombudsmen as buddy did not agreed with the decision. Waiting for review since August 2020.
pol says
Hi lottie, my complaint with Buddy has been ongoing for 2 years now. Adjudicator ruled in my favour in July last year, Buddy rejected it so has gone to ombudsman for final decision. Just hope it gets looked at before they end up in a scheme
Lottie says
Hey Pol, thank you. Yes that’s what I think will happen. The same with one I have on going with loans 2 go. Bet they take at least a year with the ombudsman, by which time they will be either in administration or in a scheme. It’s so wrong and not fair at all. The ombudsman are so behind which completely works in favour to the company in question. Thank you , and I hope you get your claim before this happens. But I don’t think I will get mine in time!
Wayne says
Has your loan finished or still live
Laura says
Hi Sara,
I’ve finally got a figure from TFS. It was quite a chore. Because my guarantor paid off the loan for me, TFS have gone to them and offered them the full redress. I know with other companies, they ask the guarantor if they want to accept. TFS haven’t given this option, however, my guarantor has written back and said this has been paid back to them and therefore, the full redress should come to me.
Is this going to be a problem? This whole thing has caused me so much stress, and I really need this money for apts ASAP.
Thank you!
Sara (Debt Camel) says
I think TFS should listen to your guarantor and refund you. But if they don’t, can your guarantor not just send you the money?
Laura says
Yes, they would have no problem doing that, but I get all confused and worried that if they do that, they’ll open up my loan again? Or am I getting confused? It got paid off six years ago. But I’ve seen people, where their guarantor has been refunded, their loan has been opened up again?
I might be getting confused here.
I’m hoping they do listen to her, because it would be odd not to.
Thank you.
Sara (Debt Camel) says
If they open up the loan, you just repay them from the money your guarantor gets.
This can seem confusing but think of a loan where you borrowed 5000, the principal, and 3000 interest was added by the time it was settled.
If you get the refund, you get the interest back – 3000.
If your guarantor gets the refund, they get back all the money they paid – interest and principal – 8000.
Then the lender reopens your loan and says you owe them the principal 5000.
If the guarantor gives you the 8000, you pay off this 5000 and are left with 3000. So it’s the same as if you get the refund.
(There are some complications around the 8% interest but they are pretty minor.)
This only goes wrong where the guarantor refuses to give you the money back.
Laura says
Okay, thanks for that.
So, they’re not offering the guarantor the principle loan and the interest, only the interest paid plus 8% – which is the same that would come back to me. So, therefore, because the loan was paid off and they’re not offering the principle and interest, I guess there would be no chance of opening up the loan again?
It’s so complicated, isn’t it. Hopefully, they’ll just listen to my guarantor and pay me.
It is odd, because they’ve offered less than my guarantor paid to settle the loan outright, so I guess they’re not doing what other companies are doing in refunding everything the guarantor paid.
Thank you!
Sara (Debt Camel) says
they’re not offering the guarantor the principle loan and the interest, only the interest paid plus 8%
That is absolutely wrong. Are you sure?
In that case it’s best to get the refund paid to you otherwise there could be a lot of arguments ahead.
Laura says
Yes, it’s strange, but I’m absolutely sure.
The amount I paid in interest, with 8% comes to just over 5k, and my guarantor paid £5500 to settle the loan. So all together, if they were offering everything paid and interest, they would be offering her over 10k. Instead, they’re only offering the interest and 8%. Which is why I think it imperative to come back to me.
If there is any problem, I’ll have to point this out to them.
Thanks for your advice!
Daniel says
Morning , anyone know how long bamboo normally take to investigate? Do they take the full 8 weeks , sent bank statements with complaints had confirmation email to say they don’t need anything else from me .
Sara (Debt Camel) says
expect them to come back with a poor offer – but they can often be persuaded to increase it.
Daniel says
Are they normally quite quick at getting back to customers ? Or the ones that just ignore abs end up with fos ?
Jax says
They responded within 5 days of my complaint agreeing it was unaffordable. Sent my bank statements on day 4 as they requested them and got their final response the next day. Removed all interest and default.
Jacqui says
Hi Sara
So I complained to buddy loans 8 weeks ago I was supposed to get a final response yesterday and didn’t so they’ve gone over the 8 weeks what should I do as that’s a breach in there t and c
Sara (Debt Camel) says
Have you asked them when they will reply?
Jacqui says
Yeah I emailed they told me would be yesterday emailed them yesterday and today and have been ifnored
Sara (Debt Camel) says
phone them! Really this is worth trying to sort out, going to FOS is a slow process. If there is even a 10% chance of a phone call getting them to give you a good offer, it’s worth a try.
Ricky Dewitt says
Hi Jacquo, just to let you know the FOS upheld my complaint against Buddy loans.
They are not the greatest in communication, I am now waiting for my redress email from them.
Good Luck
Jacqui says
Did they take 8 weeks to reject you at first ?
How long did fos take as well.
Ricky Dewitt says
They come back within 5 weeks, rejected it, I then took it to the FOS who took another 3 weeks.
FOS since contacting me have been very quick
Wayne says
Have you had a response yet
Sara (Debt Camel) says
You could tell them it goes to the Ombudsman on Friday morning if you haven’t had a satisfactory offer by then?
Jacqui says
Hi all
So my buddy loans was accepted didn’t have to go to FOS and they paid out same day refund
Ricky says
That’s great news
Same day refund too. That’s brilliant
Waiting for them to reply to mine now
Michelle says
Good morning ,
So I had a final response from bamboo , they haven’t upheld my compliant but are offering me £150 as a good will , the loan is all paid off last year , the loan was for £3000 over 36 months i paid £3515 in interest , why would they offer £150 if they don’t believe they did anything wrong ?
Yanks
Sara (Debt Camel) says
they are trying to buy you off cheap and hope you really need £150 right now?
You can offer to compromise, say you would be prepared to accept say £2000 now to settle the case speedily? It’s up to you what you think is reasonable here. It is likely these cases may go through FOS rather faster now.
Michelle says
We are however disappointed to hear that you are unhappy with Bamboo agreeing to lend to you and whilst we are happy that we acted appropriately, there is considerable cost to administering complaints such as this.
We are therefore prepared to offer you £150.00 in full and final settlement of this complaint.
This was their offer , so in other words they don’t want to pay them fos ??
Sara (Debt Camel) says
yes. £150 is obviously a very poor offer if you feel the loan was unaffordable.
So you can either go to FOS now. Or go back to Bamboo and try to negotiate a much larger settlement amount. Some people have had luck with doing this with Bamaboo, but it is a compromise so if you want the full refund you will have to go to FOS.
Paul says
Hi Michelle, what did you end up doing in this situation? I have just had the same response from them I have paid the £1,000 borrowed and still have another £1,300 interest to pay and they have offered £128 as a full and final settlement. The reasoning for this is that they checked and I did not have a CCJ and that I have not missed a payment yet. any advise on what I can respond to this would be helpful.
Sara (Debt Camel) says
I did not have a CCJ and that I have not missed a payment yet.
That is NOT a good reason to reject an affordability complaint. Don’t take from that that you have a weak case.
Bamboo will often negotiate higfher. If you have already repaid the £1000 you borrowed and still have a balance of £1300, you could get all that balance written off at FOS. And it would cost Bamboo over £600 in a FOS fee. So would you be happy to settle for reducing your balance to say £1000? or £750? Don’t offer too low, as they will probably come back and suggest less.
Ann says
Hi Sarah I had a phone call from the adjudicater saying he didn’t think my loans were unaffordable I had ccj and other loans and have been struggling since taking them it has now been passed to the ombudsman in dec 20 and still waiting do you think I have a chance off winning I am still on reduced pay due to covid I’ve had 6mths break but still can’t pay my loan getting desperate.
Sara (Debt Camel) says
The decision on affordability is your situation when the loans were taken. You won’t win an affordability complaint because your situation has got worse since.
Who is the lender here? how large were your loans?
what is the situation of your guarantor like?
Handsome be wonderful says
My bamboo loan has been sold to debt collocter, what happens now?
it’s a guarantor loan
i paid one back of £5000 with £3765.18 interest at £243per month, then i top up with £5847.72 with £4403.54 interest, paid £1140 but due to domestic abuse from ex i was not allowed in house or make any payments after the 4 months of £285. default Oct 2020.
ive complained and had final response already
we therefore agree to waive all of the £4,403.54 interest due under your current agreement, together with the interest paid on your first agreement of £1,341.66 and we will also remove any negative information from your credit record. Overall, we will arrange for dca to reduce your outstanding balance by a total of £5,745.20.
Sara (Debt Camel) says
OK so you now owe the debt collector some balance. You can make a payment arrangement o repay it an affordable rate.
Do you have a lot of other debts?
Handsome be wonderful says
there was no mention of the first loan of £5000 with £3765.18 interest (paid), all my other debts have been write offs or defaults with no court action.
i will decline offer
Sara (Debt Camel) says
But they said “ together with the interest paid on your first agreement of £1,341.66”, are you sure you paid 3765 interest on the first loan? Or was that the interest at the start, but you settled this early with a top up?
Handsome be wonderful says
laons of 8765.18 and 10251.26
Sara (Debt Camel) says
But the first loan was settled early when you took the second loan, so the interest you paid would have been massively reduced..
The Bamboo numbers may be correct. BUT they could be wrong…
Do you know how many payments of £243 you made to the first loan.
The second top up loan., how large was the loan not including the interest they added?
And how much in cash did you get when you took the top up loan,
How much have you paid to it so far?
Handsome be wonderful says
8 payments
£5847.72
£1350
4 months
the loans were taking out in april 2019, in jan 2020 i was taken out of my property due to domestic violence against me and i became homeless. i did not receive any paper work that the debt was defaulted or assigned to a dca. i have now sar bamboo, the dca are chasing me for £9000ish under a Contingent Liability, i cant afford to repay the outstanding balance of £4506 to dca. surely they have to serve me noa they have a legal right under statute or equity , that said they cant claim due to contraventions of section 136 and 196 of the law of property act 1925 and section 82(a) of the cca 1974 (just saying)
Sara (Debt Camel) says
ok, so there are a lot of number there, to check I have understood…
Loan 1 you borrowed 5000, made 8 payments of £243
Loan 2 you borrowed 5847, received 1350 in cash, the rest settled the top up. You then have made 4 payments of £285.
Is everything there correct (ignoring the pennies)?
If it is, on my calculation you should still owe a balance of £3266
But Bamboo say you now owe the debt collector £4506? That does sound wrong.
If I have understood all the numbers right, then I suggest you go back to Bamboo and ask for an explanation about how they calculated the redress as it doesn’t look right. Say the case will go to the ombudsman if they don’t explain in detail.
Handsome be wonderful says
ive settled with bamboo but why are dca still chasing for a debt which was sold for £9,681 under a Contingency Liability. u cant change amounts owed has bamboo accepted under a deed of assignment
Sara (Debt Camel) says
“under a Contingency Liability”
“u cant change amounts owed”
“under a deed of assignment”
this sounds like you have been reading some stuff on the internet which isn’t helpful.
Instead concentrate on the facts – what did Bamboo say would happen to the debt with the debt collector?
Mr f says
Hi Sara
Quick question, do you know how these type of redress payments effect benefits, would they count as capital (I’m assuming they will but any find anything anywhere)
Sara (Debt Camel) says
Yes it’s capital, not income.
For most benefits unless you are retired the limits are under 6k no effect, over 16k no benefit, between 6 and 16k benefit reduced on a sliding scale.
You are allowed to reduce capital by using it to clear debts, bills arrears, make essential purchases (keep receipts!) and of course for everyday living expenses.
Your local Citizens Advice can help advise.
Peter says
Hi Sara ,
I need your advice once again , iv made a complain to George Banco and had my final response this morning , they am not upholding my complaint due to having plenty of disposable income at the time , there response states I had no rent to pay as I was living with parents !! I am 64 years old so that would be unusual lol , I am a private tenant and have been for 15 years at the same address , I checked my SAR they sent me and it clearly states I put down in my application I am a private tenant and how much I pay in rent and how long iv been renting that property for , so don’t know where they for living with parents and paying not rent from , what should I do ?
Thanks
Sara (Debt Camel) says
haha.
I suggest they may have mixed you up with another customer. I normally tell people to go straight to FOS as George Banco doesn’t negotiate, but in this case as they have clearly made an error, I suggest you try to phone them up and explain and say your case goes to FOS in a week if they haven’t sent you a new decision.
Peter says
Thank you Sara I will do that ,
Just quickly they done some figures in my response to justify there findings
They claim
Wages £1300
Debts and expenses £546
Their payment over 3 years £187.51 per month
= £566 disposable income
Do I sent them a email correcting their figures by added in my rent £550 so in fact my disposable in was £16 a month or let them figure it out on their own ? Ha ha
Sara (Debt Camel) says
are the 1300 and 546 figures correct?
Peter says
The application was 2.5 years ago and they stated that a advisors on their side has verified theses figures so I’m assuming yes they are correct , I haven’t looked at That part of the SAR yet but sounds about right
Sara (Debt Camel) says
Then I think your suggestion to ” correcting their figures by added in my rent £550 so in fact my disposable in was £16 a month” is a good idea.
Sounds like a good case to go to the ombudsman if they wont refund you.
Lamar says
Hi, I recently (1 week ago) used your template to file a affordability complaint with Bamboo loans (Guarantor).
I applied for a £7000.00 Loan in 2016 which I settled in 2020. I based my complaint on Low income at the time of application, Gambling addiction and not having to provide proof of expenses.
I received a reply today from Bamboo loans stating that they believe to have made a fair lending decision but are disappointed to have received my complaint and therefore are prepared to offer me £300 in full and final settlement for the complaint.
I am happy to take the settlement because I wasn’t expecting anything initially. However, this seems all to quick and easy for me. I may just be in shock that I received a response so quick with a settlement amount. But of me feels like I could get more.
What do you think????
Sara (Debt Camel) says
Bamboo will often negotiate, this is just their first offer. So how much would the max you could get be? and how much should you offer to compromise for?
How much did you pay in total to the debt – the monthly payments plus the settlement?
Was it difficult to repay the loan? Did it mean you took out more debts?
Lamar says
I paid back £14,338.66 for the loan over 48months – monthly instalments of £298.72.
Interest was £7338.66 so I would like to get at least half back. Id ask for £4000 and willing to compromise £1500-3000
I paid on time but the repayments were hard to live with which resulted in taking out extra credit and getting into more debt which lead me to DMP’s
Do you have any advise on how much and how I should counter offer in a email?
Thanks
Sara (Debt Camel) says
I don’t see why you should accept less than 3000! Your suggestion of asking for 4000 seems an ok starting point. In your reply, point out the repayments led to you taking more debt and a DMP.
of course you may well get the lot back if the case goes to the Ombudsman. And I am hoping Ombudsman cases will go through faster with staff being taken off Amigo cases… But it’s your decision what is acceptable for a fast settlement.
Lamar says
Thank you for your quick response.
I will reply with a counter offer of £4000.00 and keep you updated with the response.
kind regards
Lottie says
Hi Sara,
Or anyone else.
Buddy have agreed with FOS findings and said they will put things right to what FOS suggested.
Anyone got any experience with Buddy and how look this stage took ? They only came back to me today FOS to say Buddy will be in touch with me. Typical my DD for my payment into went out today too.
Many thanks
Lottie
Lottie says
Hi Sara, Buddy have confirmed my guarantor will be released and have said I will get the interest over what I have paid over the original capital which is £5839.00 plus 8% interest. Do you know roughly how much the 8% will work out at? Loan was over 60 payments – starting July 2017 – @ £296.44 a month, and made 45 payments so far. Up to and including 1St April 2021. Not sure how I would work out the 8% on top of the £5839 – do you ? Many thanks Lottie
Lottie says
Hi Sara
The 8% doesn’t seem right, do you think it is ?
Sara (Debt Camel) says
What have they said?
Lottie says
They said the 8% is £334.26 – against a interest refund of £5581.64.
The loan details are as follows;
17July 2017 -£7500 @£296.44 over 60 months. No payments missed. So I have paid £5581 over the capital borrowed. The interest seems really low. Do you know if it’s correct?
Regards Lottie
Sara (Debt Camel) says
My back of an envelope rough method makes it about £334.
So it isn’t far out and if that figure is net of tax it is fine.
Lamar says
Hi Sara,
I sent a counter offer of £4,000.00 to bamboo loans on 01/04/2021 and they replied today offering me £2095.00 out of good will to settle the complaint today. I accepted the offer which is a massive jump from their original £300 good will offer and is more than I could have imagined to receive from a hopeful complaint.
Thank you for everything you do on this site. Your advice has really blessed me.
Laura says
Hi Lamar,
Would you be willing to share with my your response when you declined their initial offer. I am currently in the same position with Bamboo?
Lamar says
Hi Laura,
No problem at all.
My response,
“Good Afternoon Bamboo,
Thank you for your offer. However, I am not satisfied with this offer.
Although I made payments on time, the loan repayments were very hard to maintain which led me to taking out more debt and entering into a DMP.
I paid over £7,000.00 worth of interest on the loan and would like to counter your original offer for a settlement amount of £4,000.00.
Kind regards”
They got back to me after 3 working days.
I hope this helps. Let us know how you get on.
Laura says
That’s great thank you, will let you know how I get on.
Lottie says
Hi Sara, I just wanted to give you an update along with anyone else whom may be looking at a claim against Buddy Loans – FOS upheld my complaint and Buddy agreed with their findings, which was to refund any interest paid over the capital borrowed plus 8% interest. Buddy would owe me around £13k which would be amazing. However …….
buddy have now come back and said: they will pay me, but the guarantor is now liable for any money outstanding, which is the interest over the capital and all remaining payments. They claim FOS didn’t mention the guarantor in their findings, so whilst they have agreed with FOS upheld complaint against myself, there was no evidence it wasn’t affordable to the guarantor therefore they will refund me but pursue the guarantor for all the refund and remaining loan.
The problems is my guarantor will not be involved in making an unaffordable claim as it would of be affordable to them, it will also cause a breakdown in a relationship.
Therefore I just wanted to give you the heads up incase anyone else has this problem, and also ask if you have had this situation happen before?
Any help will be appreciated
Many thanks
Lottie
Sara (Debt Camel) says
I have seen Buddy refuse to release the guarantor.
But I had only seen it when there was a balance remaining. Not when the balance was cleared.
Tell your guarantor to immediately put in a complaint saying that the loan was unaffordable for you, the loan should never have been made so they should be released as guarantor. And also say that as your loan has been settled they no longer have any obligation to pay anything anyway.
Also tell Buddy you want your refund now. Don’t let them tie all this up in knots for months and risk them going under and you not getting your money.
And tell your adjudicator what is heppening.
Lottie says
Hey Sara,
That’s great advice , thank you so much. Adjudicator has been informed and she said it’s not right and will look into it too.
Thanks for the tip about my refund now, that’s great advice yes you’re right before they go under or in a scheme.
The stress this has caused the guarantor is unreal over the last 5 days and has caused relationship problems – so hopefully once I start doing these steps they may come back with a positive.
I have one of the claims which is £5833 interest and 605 days to claim the 8% at do you know roughly what would be owed? I have worked out the others as I had a breakdown but not on this one I can’t work it out do you know? The 605 days is the days since the capital was paid. Many thanks
Lottie says
Hi Sara,
So Buddy loans have confirmed my refund amount at £5581.64 for the interest over the loan amount borrowed, plus clear the remaining 16 payments @ £296.44 that would have been due.
They have confirmed that because there isn’t a balance left to pay the guarantor will not be liable for any of the remaining payments or the interest they are refunding like they said they were going to do last week.
The 8% interest is very low though, is this correct – £334.26 ? The loan was taken out on the 17th July 2017 no missed payments @£296.44 over 60 payments. Original loan amount was £7500- I had paid so far £13.081.64. So I assume interest will be from when the £7500 is paid back? Is this correct? It seems really low. Many thanks
Peter says
Hi Sara ,
I wrote to you last week about George banco not upholding my complaint but they had made a mistake saying I lived with parents and paid no rent , when on my SAR it clearer states I private rent , you advised to call them but they apparently they don’t have a direct line to a compliant team has to be email , on your advise I sent a email giving them 1 week to review their decision with the correct information , well the week was up yesterday and had no further communication from them , should I send another email and give it a few more days coz of the bank holidays or sent to fos ? Thanks
Sara (Debt Camel) says
I see no reason to waste any more time – send it straight to FOS.
Charlie H says
Hi Sara,
Could you give me your opinion please. I have a complaint sitting with FOS (UK Credit) still waiting for the Ombudsman to make a decision about the 6 year time limit. Its been with FOS for 1 year 4 months and with the Ombudsman for almost a year. So my question would be at what point would you expect the Ombudsman to look at my case? I’m worried that if it takes this long just to make a decision on the 6 year rule, if they say “yes it can be looked at” and the adjudicator finds in my favour but UK Credit disagree, does that then mean i might have to wait another 1 and a half for it to be considered by the Ombudsman again. It just seems such an unreasonable amount of time to wait and although not currently likely, UK Credit may cease trading and it will have all been in vain. Thank you as always
Sara (Debt Camel) says
I think that is an unreasonable amount of time to wait. I suggest you phone up and say you want to make a complaint about it.
Peter says
Morning Sara ,
After your amazing advice I send George banco a email to get them to relook at my compliant after them doing their own figure of my expenses incorrectly, they upheld my complaint and are refunding me £2034 , they said they would send this by bacs once they have received my bank details , I sent this to them Friday , do you know how long they tend to take to pay out ?
Thanks
Sara (Debt Camel) says
Excellent!
Sorry no info on timings. Someone else here may have some recent experience
NAG says
Complained to TFS in Feb 2020 which was rejected for being over 6 years old. Went to FOS.
Adjudicator said they could investigate in Oct 2020 which TFS rejected. Ombudsman said they could investigate in Feb 2021. TFS were actually quite quick in rejecting my complaint after investigation and took only a week. I sent it to FOS again and the adjudicator upheld the actual complaint in early March and TFS have until the end of this week (April 2021) to Agree or Disagree. I suspect they’ll disagree as such is how they have been.
It’s a slam dunk as far as I’m concerned if it goes to Ombudsman. TFS just keep me hanging on (for well over a year). Now I read on here that they don’t pay you redress for 28 days. Despicable company.
Has anyone had any experience of actually getting paid by TFS after successful complaints? Grateful for anyone sharing their experiences, thank you.
AR says
I finally got my redress from TFS a couple of weeks ago. They are a nightmare – throughout the whole process – late / no reply to adjudicator etc (I originally complained to the FOS about them in April 2020) Once it had gone to Ombudsman for final decision they were good at responding, but took the full 28 days as they say that is when they work out interest to. Stay positive & fingers crossed for you
C says
I’ve had my complaint upheld by an Ombudsman against TFS as well but heard nothing yet. Do they take 28 days to send redress amount and then another 28 days to pay out? Thanks
AR says
Assume this is common knowledge for any one complaining against LendFair – but it appears they are in the process of closure.
I have had an Ombudsman’s final decision in my favour – with the 28 days ending next week to pay a redress of £1600+.. unfortunately when chasing – I received an email from the company who are in charge of overseeing the liquidation of the company, so obviously won’t be receiving my redress, which is a shame, and also feel bad for any employees that have lost their jobs.
Sara (Debt Camel) says
oh sorry to hear that, rotten timing for you.
Agg says
I have been sending letter to George Banco until I got deadlock letter and permission to send complaint to FOS .I sent complaint via email have automatic email back and now it’s passed 1 year since .I called recently FOS confirmed that my complaint is in the que waiting for advisor.I have sent couple of emails asking any update but don’t get any answer .I don’t know what to do.Wait?Send another emails ,call,write letter ? 16-17 months in total since first email to George Banco .
Sara (Debt Camel) says
Has the loan been repaid? What is your current financial position like?
Agg says
I am the guarantor.The loan is being paid regularly by person who took it.I appealed from being guarantor and strongly stand by even though the loan was taken for 5 years and 3-4 years are now paid. Still don’t know what will happen next month ..
Sara (Debt Camel) says
OK, well until you are being asked to pay by GB, this is a worry rather than an active problem? Quite right to complain though. I suggest you phone the Ombudsman every month to ask when your case will be looked at.
Agg says
Thank you so much .I think everyone should stay strong and fight for what’s right .
Because of this blog I actually believed to appeal otherwise everyone said it’s impossible to do it.
... says
Hi Sara,
Was hoping to get your advice on an active complaint I have with a guarantor lender.
In short, there’s was a loan of £1k taken, then topped up a few months later to around £1800 total borrowed. I’m making an affordability complaint as I already had a large loan with another lender which I had struggled to make several payments on.
The case has been referred to the FOS and an offer has been made to compensate by £200. They are claiming that all their checks were appropriate but they make this offer a gesture of goodwill. Their main counter against the affordability complaint is that the information I provide plus the use of ONS data showed I would have been left was a small disposable income. The reality is it’s simply not true and taking the loan meant I spent 12 months begging and borrowing from friends and family to get by.
Speaking with the FOS they seem to be advising that the offer is as good as I’ll get, which I find odd. Surely they should support my original claim of a refund of interest + 8% if I’m in the right?
By my calculations I would be due around £600, so we are arent talking huge sums. But I can’t decide whether to just take the offer or if under the circumstance I should be standing my ground?
Thanks in advance, and thank you for this amazing site. It’s taught us so much and given us real hope, I just wish we found it last year.
Thanks
Sara (Debt Camel) says
they seem to be advising that the offer is as good as I’ll get, which I find odd.
It does sound odd if the adjudicator hasn’t yet made a decision on your case. Did FOS say why? is this in writing?
... says
They said this over the phone in conversation with one of their advisors. It wasnt a firm confirmation in writing, but its made us feel we should just stand down. Given the situation I’d rather fight on, but if the odds are against us I dont want to waste our time.
Sara (Debt Camel) says
It’s not just a question of your time – it’s a lot of money! I suggest you say that unless there is a reason why FOS think you will not have your case upheld, you would like a decision from an adjudicator.
Luke r says
Hello I have been reading alot of comments and would just like to see if anyone has claimed back from a company called buddy loans?
Michelle says
I made a buddy complaint 5 weeks ago and heard nothing from them , would be interested in other peoples experiences too
Sara (Debt Camel) says
Look at the comments on this page. A couple of good recent decisions in Buddy loans cases. One direct from Buddy, one from the ombudsman.
pol says
Hi Luke,
I made a complaint against Buddy loans nearly 2 years ago now against a loan and 4 top ups. They rejected my complaint. It went to fos and an adjudicator upheld my complaint against all loans, this took about 10 months. Buddy rejected their decision so it went to an ombudsman for final decision. It has been with an ombudsman now since July 2020 and still waiting to hear. Just hoping it gets sorted before they go into a scheme
Peter says
Hi Sara ,
I made a compliant to buddy loans , today they have rejected my complaint based on my income , they have taking into account a pension I receive but that runs out in august so I wouldn’t of been receiving that for the whole term of the loan , and also my son who rents a room from me , but again he can leave when ever he likes as there is no such tenancy agreement or anything I place , they have agreed I had some adverse credit , and high amounts of debt but as they said I told them I would pay off some debt with the loan, my argument was , the extra income they have added isnt guaranteed for the duration of the loan term and they also couldn’t guarantee I would pay off existing debt with the loan , is it worth sending to ombudsman?
Sara (Debt Camel) says
what sort of pension runs out? Did you tell them about the pension and the rental income when you applied for the loan?
do you agree the loan is affordable with that extra income? Or has paying it already been a problem/
Peter says
The pension for a pay out for 2 years as I’m over 60 instead of when I retire , told them my son lives with me , the loan was definitely not affordable, I now have 10 defaults and 62 missed payment over all my debts , have got everything on payment plans , at the time if taking the buddy loan I had 5 payday loans 4 credit cards 2 catalogs and 2 guarantor loans ( won both other guarantor complaints)
Sara (Debt Camel) says
Then send the case to the ombudsman – the extra incomes seem irrelevant as it has been unaffordable even before they have stopped!
Peter says
I was really disappointed to get that result from them , as iv won every other compliant on loans I took out around the same time on the same income !
Jajabinx says
I have just had a preliminary response from the ombudsment upholding my complaint to TFS. They have given them until 13th May to respond.
What usually happens now?
Sarah says
TFS will usually disagree with what the adjudicator has said so you’ll go into the queue for the ombudsman to make a final decision. Mine is in the queue at the minute. Not sure how long it will take.
NICO says
Hi – what are the FoS saying in terms of timescales please? I am in the same position where FoS have upheld and TFS have rejected the decision. It’s now in the final decision phase – the wait is agonising
NICO says
Any update on your complaint with TFS please?
Steffy says
Hi Sarah,
If the ombudments have said to refund interest with 8% , what does the have …and have use of mean?
My loans are below:
Loan 1: £7500, paid 17x £304 topped up to …L2
Loan 2: £8500 received £2377 , paid 42 x £349.
How much would I be estimated to be refunded? Thank you
Sara (Debt Camel) says
Which lender is this?
Steffy says
The lender is Tfs
Sara (Debt Camel) says
On those numbers you have paid the following interest:
loan 1 3791
loan 2 6158
So the last loan will be cleared if there still is a balance and you will get a total interest refund of £9949 and over £900 in 8% interest.
Was this a decision from an adjudicator or from an Ombudsman?
Steffy says
Adjudicator. I’m expecting TFS to reject this, they have until mid May and then i guess I’ll be put in the queue for an ombudment decision. How long does this usually take approx?
Sara (Debt Camel) says
It seems to vary a lot.
NAG says
Hi Steffy, I feel your pain. Adjudicator upheld my complaint with TFS after over a year of to-and-fro, initially over whether TFS could investigate as my loan was over 6 years ago. TFS say ‘No’ at every step. They have disagreed with my adjudicator so I’m now in the queue for an Ombudsman – been told it might be 6+ months.
TFS seem to take every complaint to Ombudsman level regardless of how strong it is in the customers favour. It’s like they’re doing it out of badness.
NAG
NICO says
I have had a couple of FoS complaints not upheld, has anyone has any experience of or do you know if the FINAL FoS decision may be different to these initial FoC ones please?
Sara (Debt Camel) says
Were your complaints rejected or were they upheld and the lender did not accept them? You have mentioned TFS, who is the other lender?
NICO says
TFS upheld – now with FoS for final decision after TFS rejected it.
UK Credit and EverydayLoans – not upheld by FoS so I took it to a FINAL decision with FoS – I am looking to see if these decisions ever change?
Thank you again.
Sara (Debt Camel) says
The Ombudsman agrees with the adjudicator in most cases but people have won cases by insisting on an Ombudsman decision. Have you sent a short explanation of why you disagree with the adjudicator decisions?
NICO says
Hi – I have yes, outlined the financial situation and personal circumstances (including my health). fingers crossed.
Sara (Debt Camel) says
if there were any bits in the adjudicator’s decision you disagreed with or where you thought information you had supplied was not taken account of, you should mention these specifically. Send this to the adjuidicator and ask for it to be passed to the Ombudsman when the case is assigned. Do not wait and expect to be contacted by the Ombudsman, do this now.
Daniel says
Hi , I am a guarantor for my father In law on a buddy loans , he made a complaint to them and they rejected it , he’s now sent it to the fos , I was wondering if I can make my own complaint to buddy even though my father in law has already been reject for his one and it’s now with the fos ? They accepted me as guarantor without me having to send any pay slips or bank statements, all I did was fill in a expenditure form and have a call from them , I earn good money but my credit is massively high , I couldn’t get a loan of my own as I pay out more then I get in on credit agreements , do I have a shot at making my own compliant , my father in law’s rejection response just basically said “ you told us that’s what you paid on rent, bills and other credit “ so they took that as gospel and didn’t feel the need to check
Sara (Debt Camel) says
Yes you can. And it’s a good idea as you too have a good reason to say the loan was unaffordable for you. But use the template over on https://debtcamel.co.uk/amigo-complaints-by-guarantor/ and ALSO complain it was unaffordable for your dad as well – two chances to win.
Sam says
Hi Sarah,
I am hoping you can help!
I took out a £5k loan from UK credit back in 2016. My 22 year old friend who was only on 23k at the time was accepted as my guarantor.
At the time I had high apr finance out on a car totally over £9k along with multiple payday loans and overdue credit cards. I was working 4 days per week and was on roughly £24k plus benefits as I was a single parent to 1.
realistically I should never have been given the loan nor should my guarantor have been accepted.
Back in 2019 I paid nearly £2k off the loan thinking it would clear it but I still owe over £3k! I have paid over £10k at this stage and with COVID I have had to take payment breaks which they accepted but have added extortionate interest to.
Do you think I would have a case? It just seems never ending
Sara (Debt Camel) says
From what you have said that loan sounds unaffordable. You can complain using the template on this page. And it may be a good idea for the guarantor to complain that they could not have afforded to make all the payments and still been able to pay their own debts, bills and living expenses – there is a template for that on this other page: https://debtcamel.co.uk/amigo-complaints-by-guarantor/
Also look at affordability complaints about your other problem borrowing at that time.
Sam says
Thank you so much for the quick response. I will get in to it straight away.
Steffy says
Hi Sara
The adjudicator gave TFS until 17th May to respond, and has now informed me that TFS have asked until 21st May? A difference of 4 days… is this how they usually work? Just delaying before it can go in the queue for ombudsment?
Wish they would just reject already so it can move on to the next stage.
NAG says
Yes Steffy, it is. TFS seem to delay at ever single stage. See my experience above.
They know that the queue for the Ombudsman is 6+ months and so even though you may have a perfect case for redress, they will delay it. There’s nothing that you can do because the FOS have to give them the option and the time.
On thing that I’ve found is that their reason for rejecting adjudicator decision in my case was pure rubbish – they have said that whatever my bank statements say is irrelevant because my declared disposable income was enough to cover the loan. Despite me having countless defaults, CCJs etc… when applying for the loan.
Keep faith with the process and it will all come good in the end. It is frustrating and easy to drive yourself mad thinking about it.
Steffy says
Thank you. It’s a pain.
Just read your story above. Hopefully you get the desired outcome. A year and a half Is a long time.
AR says
I’ve had a similar frustrating experience with TFS – my adjudicator at FOS was great though & explained that whatever delaying tactics they try, you go into a queue for Ombudsman from your original complaint- not when it gets escalated, so any delaying on their part shouldn’t affect when yours gets picked up – although they are incredibly busy from what I’ve seen. Stay patient and hopefully it pays off for you
Steffy says
Thank you. I’m not holding out for them to respond and it just be a waiting game.
What was your outcome or are you still waiting?