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
Margaret says
When I spoke to her on Wednesday said they would close it but I will email and ask to reopen as I am dissatisfied
Sara (Debt Camel) says
if this wasn’t an Ombudsman decision, you should have been told you had the right to ask for it to an Ombudsman.
Margaret says
She was an investigator but said it wasn’t something that would be passed on because it was after 6 years
S says
I have been commenting for a while about my complaint about TFS Loans. Just wanted to let people know that I have had my final decision from the ombudsman and it went in my favour. Went into the queue in March and got the decision on Thursday. So pleased. Hope anyone waiting gets their decision soon. All the best.
Cperry says
Hi, Thats fab news. Can I ask when you initially lodged your complaint? TiA
NICO says
Hi – I have an upheld complaint that is with the Ombudsman now for the final decision. Mine went to that stage on 26th April – are you saying yours was March to August for your final decision please? What was you March date please?
Thanks
NICO
S says
Hi. I initially put the complaint to the FOS in Feb 2020. Adjudicator went in my favour in March so I didn’t have to wait too long. Fortunately.
Sara (Debt Camel) says
Time in the Ombudsman queue does seem to be going down for guarantor loans.
Margaret says
Hi , can I ask when you took out your loan as the investigator won’t look at mine as it’s over 6 years. I have tried to phone her and left a voicemail stating that I would like the ombudsman to look at is. So far she has not got back to me
C says
The same thing happened to me. The investigator said they couldn’t look at my TFS complaint because it was over 6 years old but I’d had other complaints looked at that were the same. An Ombudsman reviewed my complaint and said they could look at it. TFS were against me all the way but eventually an Ombudsman ruled in my favour and I got my refund. Hang in there and insist that an Ombudsman looks at your complaint. Good luck!
Margaret says
Thanks for that. It gives me a bit of hope ! Will let you know what happens.
NICO says
Hi – what timescales did you go through between an initial decision and final decision with the Ombudsman please?
Thanks
NICO
C says
It was about 4 months between the adjudicator upholding my complaint and then an Ombudsman agreeing with the adjudicator.
NICO says
Hi C – how is your payout going from TFS please?
C says
I received my payout a few days after the 28 days was up.
Sam says
Had my final decision from the Ombudsman against TFS on 4th July. Still not heard anything back from TFS regarding my redress though. Only a reply to an email I sent saying they were waiting for the relevant department to send the details over. It is now past the 30 days. Should I be getting back in touch with the Ombudsman?
Sara (Debt Camel) says
Have you phoned TFS up?
Sam says
Just emails, but they arent actually replying to those either.
Would you recommend calling them?
Thanks
Sara (Debt Camel) says
yes. Try 01268740750 and ask to speak to Louis Sutton. Email louisa.sutton@tfsloans.co.uk
Sam says
Louisa wasnt in the office so spoke to someone else who said that the director was off site for personal reasons and they wouldnt be able to do anything until they were back. They couldn’t tell me how long that would be.
I have emailed the FOS tonight.
Not surprised to be honest as TFS have delayed at every available opportunity. It is 2 years next month since I submitted my complaint. Was just hoping to finally put the whole thing to bed!
Thanks for your help
NICO says
Hi Sam – how long did you wait please for the Ombudsman to make a final decision please? I am nearly at 4 months since mine was upheld by FoS and TFS wanted a final decision by the Ombudsman.
How long did you wait between the initial decision and final decision please?
thanks
NICO
Sam says
Hi NICO
Adjudicator decision was 28th May, which TFS rejected and had the final decision from the Ombudsman around 1st July. However the complaint had been in since September 2019 and had already been to the Ombudsman once as TFS rejected the adjudicator decision that it could even be looked at as it was days over the 6 year point.
Hope you get sorted soon. They are a nightmare!!
Sam
Sam says
I finally managed to get in touch with Louisa Sutton and he has said they have raised an issue with the content of te Ombudsmans reccomendation with their legal team and will get back to me once they have had a response. Are they able to contest the Ombudsmans decision?
Sara (Debt Camel) says
Basically no. As FOS will explain to them…
Well they can go to the High Court for a Judicial Review. Every large lender who has gone under will have looked at this, from Wonga and QuickQuid to BrightHouse, Provident and Amigo. And their lawyers will have told them they are very very very likely to lose a JR., which is why none of them bothered.
Tell FOS what TFS have told you.
Sam says
I spoke to my Adjudicator who said that TFS are not replying to him either and that they have never mentioned anything about disagreeing with the final decision
He has given them until the 17th before he passes it to the contact team who will ‘raise at a senior level’.
What does that even mean? Can they just ignore the Ombudsman? Thanks
NAG says
Sorry to hear that Sam – it seems quite typical of TFS to delay even longer, to be honest. Now they’re scaping the barrel of excuses and saying they’re contesting the Ombudsman decision 🤦.
At least you’ve got the decision – still waiting for mine having gone into the queue towards the end of May 21. Complaint was lodged in Feb 20.
I notice that TFS aren’t accepting new loans now – worrying times because it may be that they end up in some kind of scheme. Is there any recourse if this does happen because of the unbelievable lengthy delays in the complaints process? I can see myself and others losing out on thousands.
No point panicking at the moment but it’s definitely worrying with the delays.
Andy says
Has anybody actually had a redress off this company , not read any successful ones yet , I hav had my complaint upheld at adjudicator level but not holding much hope
Andrew says
Hi,
Anyone recently has been contacted by Buddy Loans after the ombudsman approved the complain?
I accepted the offer provided by ombudsman and they said that buddy will contact me. So far nothing happens and is already over 2 weeks.
Ed says
Hi Andrew,
How long has the process taken them and also did they make you an offer or even try and negotiate?
I am due a response from Buddy latest 20th Aug and imagine they will respond on that date.
Thanks,
Ed
pol says
Hi Ed, have you heard from buddy loans after the 4 weeks?
Claire says
Hi pol, mine was the same I didn’t hear anything within the 4 week, but I emailed Buddy complaints and the FOS and Buddy replied writhing 10minutes apologising as it had been marked as sent I would send them an email.
Pol says
Hi Claire, have you had your redress figures yet?
Pol says
Hi Andrew, they have 4 weeks to contact. I am just over 2 weeks since final decision as well. Fully expecting them to take the full 4 weeks
Joe says
Hi both – not sure if you had the same process but my decision letter form the ombudsman was actually provisional, and they provided another opportunity to Buddy Loans to provide more information by the 20th August too – still waiting to hear, although I’ve directly asked Buddy to provide me with any further information they are potentially going to provide to FOS to myself too, still waiting on that so not sure if they’ve acted yet.
So my understanding is, when/if Buddy reply by 20th, and the FOS still uphold my complaint and make it final, I’ll be waiting another period of time for Buddy Loans to give me a refund.
Cperry says
Hi Joe,
Are you sure this is not an adjudicator decision as I thought they only sent a provisional final ombudsment decisions if they disagreed with the adjudicator?
Joe says
Nope – adjudicator ruled in my favour, ombudsman has provisionally agreed (but the reasoning is slightly different) which I think is why it’s provisional because it’s a slight variation on the reasons why, at least that’s what I’m hoping is the reason why it’s only provisional and why they’re having to give Buddy Loans yet another opportunity to provide more information (to be fair they did say I could also give further information too).
C says
Hi Sara
I’ve had an Ombudsman rule in my favour tonight against Guarantor My Loan. Can you tell me how much I would be looking at receiving back please?
Loan 1 – borrowed £5000
Made 22 payments of £195-35
Loan 2 topped up to £7250
Received £3100-21
So far I’ve made 38 payments of £283-26
Thanks
Sara (Debt Camel) says
sorry I missed your question.
I make the interest you have paid on the two loans as follows:
loan 1 3440
loan 2 3504
So a total of £6944 if both were found to be unaffordable. Plus over £500 in 8% interest.
Morgan Armstrong says
Hey I’ve had my buddy loan upheld after waiting 14 months when I first lodged the complaint with FOS and buddy loans have agreed with the adjucator’s findings so I’m hoping for a payout within the next 4 weeks. Keep the faith a lot of complaints get upheld either at the adjucator stage or the final ombudsman decision. Hoping for around £3k in overpaid interest plus 8%
sam says
It’s now more than 3 weeks past the 28 days for TFS and still nothing. They aren’t replying to my emails or the Ombudsman. Do I have any other options or is that just it now?
Sara (Debt Camel) says
Your adjudicator said they would escalate this yesterday, didn’t they?
I think you should also inform the FCA about this delay. The FCA won’t directly intervene in a case but they are TFS’s regulator and hopefully this will kick TFS into action.
To do this, email consumer.queries@fca.org.uk and copy this to louisa.sutton@tfsloans.co.uk and any other TFS email address for complaints they have been using.
Subject: TFS (724439) have not refunded after a FOS Final Decision in June
Give TFS customer number and any FOS reference you have. Giave a very brief summary of your case – just how many loans and when the complaint was started. Attach a copy of the FOS final decision. Explain you have not yet been paid and cannot get reply from TFS explaining why. Say you don’t think the FCA should allow an authorised firm to delay paying customers for so long when the Ombudsman has made a final decision in your favour.
NICO says
I am so worried about reading all of this, I have a compliant upheld by FoS but sent to Ombudsman review by TFS. have been waiting 5 months and very concerned that there might be more hassle even if I do get it finally upheld.
Please could you keep us informed on how this goes?
Thanks in advance.
Sam says
Just had an email from my Adjudicator he said he finally spoke to TFS today and they are still waiting for their legal team to get back to them and that they have 90 days after the decision where they can contest it so that we just have to wait the 90 days now.
Sara (Debt Camel) says
I suggest you still email the FCA.
Cperry says
Did they state why they were sending it to their legal team or is this something they are going to start doing to add more delays before more than likely collapsing?
Andy says
Did this ever get sorted
AM says
I think it is ridiculous that a company can ignore the final decision and get away with it. I am currently waiting for mine to be picked up by the ombudsman after the assessor found in my favour. Not holding much hope of getting anything back from TFS reading this.
Hang in there and I hope you get a favourable response, keep us posted
NAG says
This doesn’t surprise me about TFS or the ombudsman, to be honest. Ombudsman has been woefully slow and TFS are playing the system. It is utter nonsense to say they have 90 days to dispute it legally – they don’t. They still should comply with the 28 days and if they want to dispute it they have to go to the high court and will undoubtedly lose. That is because all the judge will check is that the Ombudsman’s reasoning is correct based upon the rules and that they’ve followed the right proceedure – they won’t review the case because that isnt the High Court’s remit.
If I finally get a decision in my favour from the ombudsman and TFS delay past the 28 days (which they are allowed) then I’m going to be writing to the FCA and entering a county court claim against TFS. If they don’t pay 14 days after that then can always just upgrade it to a High Court Writ and send ‘Can’t pay, we’ll take it away’ round.
Sara (Debt Camel) says
Yes the “90 days” is the time limit to take FOS decision to a Judicial Review. As you say, a JR is is a check that there was nothing fundamentally flawed about the process (did they explain the decision to the lender, listen to what the lender had to say?) and that it was not “Wednesbury irrational”, which is not a check that the decision was right, but a check that it was not so obviously badly wrong that no rational person could have arrived at that conclusion.
Are TFS going for a JR or are they simply using this as an excuse to delay paying out? If this is just a delay, then it isn’t a trick they can keep on playing.
Sam says
So I emailed the FCA last night and this afternoon I have had an email from TFS and will be paid out just under £9000 o the 23rd August.
Assuming they actually follow through with it that puts 2 years of complaining to bed finally!
Sara thank you so much for all your help over the last 2 years!!!
Sam says
I think you need an exact figure of what they owe to get the county court claim, I have no idea what that figure is so don’t think that I would be able to do it.
I have emailed the FCA though so will see what comes back from that!
Cperry says
Did you ever get paid out? Just curious.
Andy says
Any luck with YFS they aren’t excepting loans which is worrying
AM says
Still waiting, mine is in queue for ombudsman after adjudicator found in my favour. Not expecting it to get picked up as it seems people have been waiting ages and by the time it does TFS will have gone the same way Buddy loams did I think. Just such a shame the ombudsman take so long to deal with things
Andy says
Hi has anyone had a refund from TFS yet? As they aren’t excepting loans I am worried my complaint thats been upheld will go no further
pol says
Hi all, for all those awaiting a response from Buddy loans. They finally sent through my settlement figure, precisely 4 weeks after final decision by ombudsman. I’ve accepted their response, let’s just see how long till they pay out now
Andrew says
Hi Pol,
That’s a good news. My 4 weeks waiting passing tomorrow. Let’s hope they will contact me on time. Let us know how long will get to get the pay out.
Pol says
Hi Andrew, I confirmed my bank details with them the same day, I got an email the day after saying payment will be processed within 28 days
Andrew says
Lol another 28 waiting. I just wondering if they will calculate the 28 days of delay for the 8% interest
pol says
Ha, probably not
Michelle says
Hi , do you mind me asking how long it took fos to pick up and investigate your complain for buddy please ?
Thanks
pol says
Hi Michelle, took about 6 weeks for an adjudicator to pick it up, then about 6 months to give her findings, Buddy rejected this so went for final decision which took 12 months, waited 4 weeks for Buddy to give my redress figures, now 1 week into waiting for pay out. Ombudsman should be moving a lot quicker now though with them no longer dealing with the amigo claims
Andrew says
Hi Sara,
I just got the final decision on my complaint from Ombudsman where they rejected my complaint against UK credit. The complaint was as the first upholden on the assessor lever but the UK didn’t agree with this and it has been sent to Ombudsman.
I’m really surprised about their decision as I had other complaints upheld for loans from the almost same time. They ask me to agree or disagree with their decision. Is there anything I can do before sending this to court?
Sara (Debt Camel) says
Not if this is a final decision. And you need professional advice if you want to think about taking this to court after losing a FOS decision.
morgan armstrong says
Hi sara just wondering if you could help me out with figures, my complaint has been upheld and buddy loans have agreed with the findings and now have 28 days to send me figures of a redress but im not sure what to expect incase they try a fast one and pay less than what is owed.
i took a loan for £5000 over 60 months
i have so far made 36 payments of £197
and they sent me a statement saying i have £3300 left to pay
i think the APR is 49.9%
and then obviously 8% on top as i know ive over paid the £5k now
any help would be hugely appeciated
kind regards Morgan
Sara (Debt Camel) says
So you have paid £7092, which is £2092 more than you borrowed. Your balance should be cleared, and that £2092 should be refunded. The 8% wont come to much, less than £100.
morgan armstrong says
thanks, i worked out that 60 months of £197 is £11820 which matches whats on their website when i type it in so i presumed if i only have £3300 left to pay that means ive paid £8500 – £5k i borrowed = £3500 ive overpaid, are my maths wrong?
regards
Morgan
Sara (Debt Camel) says
That isn’t how you work out how much interest and charges you have paid. Just look at the cash movements, not what the account says. You have to repay the £5000 you borrowed. So far you have paid 36 times 197 which is 7092, that is 2092 more than you should have paid so that is what will be refunded.
This assuming you actually received £5000 in cash at the start… there were no deductions (faster payment? Broker fees?) so you received less?
S says
Hi Sara
I just wanted to ask whether you or anyone else know of any successful complaints against 1 plus 1 loans? I’ve recently had an adjudicator uphold my complaint against them and now 1 plus 1 are requesting to see my bank statements that the adjudicator used to come to his decision. They show a lot of gambling transactions and payday loans so the adjudicator’s opinion is that their checks didn’t go far enough and the loan wouldn’t have been issued had they carried out an evidence of expenditure check before issuing the loan. Just interested as to why you think they may be asking to see the statements now? I’ve found them difficult to deal with in the past and am expecting them to make things as awkward as possible for me as they can. Thanks.
Sara (Debt Camel) says
they are a very small lender, rarely mentioned.
One person said in June they had rejected the adjudicator decision so was in the Ombudsman queue.
Here is a recent FOS decision upholding a complaint against 1+! where there was gambling involved https://www.financial-ombudsman.org.uk/files/302898/DRN-2294968.pdf
S says
Thanks Sara, I’ll keep my fingers crossed that it won’t get dragged out for to long then. I also wanted to ask about a loan I have with TFS Loans, sorry I posted a comment about them yesterday on the wrong page. I’m waiting for my case to be looked at by an Ombudsman after the adjudicator didn’t uphold my complaint but have noticed TFS are no longer accepting new customers and looking on here and there Trustpilot page they have a lot of customers who have been waiting on refunds for a while now. Could this be a sign that they’re in trouble and could go into administration?
Sara (Debt Camel) says
One person was been told they would be paid yesterday. There are several other people waiting for payouts – not “a lot” as this is another small lender. The last person who said they were paid (other people may have been paid but not left a comment) was the end of June.
I don’t have inside information about lenders who are about to go under – when a lender is large, I can spot changes in the pattern of how they handle complaints, but for someone like TFS there aren’t enough comments to go on.
Do you have an open loan at the moment?
S says
OK fair enough, just thought I’d ask out of interest. Yes I do have an open loan with them, I’ve paid back more than the principle amount borrowed but unfortunately have been unable to keep up with the repayments due to COVID-19 and being made redundant and the account is currently in default so I’m really hoping the Ombudsman reverses the adjudicators decision and rules in my favour on this one.
NICO says
Hi – how long have you been waiting for a Ombudsman final decision since this Adjudicator decision please?
S says
Hi, I’ve been waiting for the Ombudsman to take a second look for about 4 or 5 months now.
Liam says
Hi,
To anyone dealing with George Banco I bring good news that some may find helpful.
Loan taken – £3000 Total payments – £908.45 Remaining balance – £2,091.55
I originally made an affordability complaint to George Banco for irresponsible lending and they upheld my complaint removing interest, charges and any negative impact on my credit file. The remaining balance was left at £2,091.55 to pay.
I appealed this decision and took this to the FOS who on Friday 20th August upheld my complaint in full and instructed George Banco to remove the remaining balance in full/ write off this loan.
This is great news for me personally given my own health/personal circumstances and allows me to move forward with my life.
I supplied medical information from my GP and Medical report from my mental health team along with support from the NHS Gambling team in Leeds who assisted me throughout this process.
Many thanks to Sara and the work that is done here at Debt Camel!
Regards,
Liam
Sara (Debt Camel) says
oh what a good result for you.
Was this an adjudicator decision or an ombudsman decision?
Liam says
Hi Sara,
Thanks! this was a decision made by the ombudsman.
Take care and thanks again.
Liam
Andrew says
Congratulations Liam.
May I ask how long the whole process took for you from the moment of original complaint to lender, to final FOS decision. Stay well and best of luck. Regards.
Joe says
For anybody with a complaint in against buddy loans;
Adjudicator upheld complaint in Sept 2020. Buddy Loans disagreed so it was sent to Ombudsman. Ombudsman sent me a provisional decision in July 2021 saying they agreed with the decision to uphold but differed slightly on their findings so asked Buddy Loans if they would like to add anything further and gave them four weeks to do so. Buddy Loans did not add anything.
Ombudsman has today issued a Final Decision upholding my complaint and FOS have said if I do not hear anything from Buddy Loans within 8 weeks, or there is a problem with the settlement, I have to let them know.
Should I assume Buddy Loans will take the full 8 weeks to contact me?
Pol says
Hi Joe, they should have 4 weeks to contact you with redress figures, they contacted me on the very last day of the 4 weeks, now they’re taking another 4 weeks to pay out the redress, I’m fully expecting them to take the whole 4 week
Joe says
Not sure then – decision support said if I haven’t heard from Buddy Loans within 8 weeks or have an issue with the settlement, to get back on touch with FOS so not really sure.
The final decision letter just says I need to accept by 20th September which I’ve already done and then decision support responded saying thank you for accepting the final response and in that email said that about the 8 weeks and settlement so I haven’t been told about four weeks.
Joe says
Found out that it’s 4 weeks for them to respond to the Final Respone with redress, then a further 4 weeks for them to payout any redress which is where the 8 weeks comes from.
No longer making payments as I have paid the full amount that I borrowed and have overpaid by over £3K at this stage.
Michelle says
Hi Sara do you have any idea how long it’s taking adjudicators to pick up buddy compliants ?
Thanks
Joe says
You hope that they take the full 8 weeks to contact me? Thanks for the support.
Sara (Debt Camel) says
I have deleted that comment :(
George G says
Has anybody won a case against UK credit?
Sara (Debt Camel) says
yes but they are normally rejected by UK credit so they have to go to the Ombudsman.
Michelle says
I won mine without ombudsman with U.K. credit
AM says
Yes very quick response and payout, no rerralfto FOS
George G says
What sort of time frame does it take?
I only submitted my claim today
Michelle says
Mine was about 2 weeks from start to finish
Joe says
Sara/anyone who has had their Final Decision upheld against Buddy Loans.
Do I make my next payment to Buddy Loans or now that I have a Final Decision and Buddy Loans has also been informed about it, am I no longer under any obligation to pay (already paid off the amount I originally borrowed) and at this stage I’m about £3.5K over the amount I took out, which I think will be my redress/refund plus a small figure of interest too.
Technically, if Buddy Loans takes 4 weeks to get in touch regarding settlement and then a further 4 weeks to pay out, I’d have two more payments to make – but I guess not because they have to work out the redress so I can’t make payments after they contact me regarding settlement as it means they’d owe an extra £200, right? So then it would be inaccurate?
If anybody knows the process from this point re making payments after ombudsman final decision, please advise.
Thanks
Sara (Debt Camel) says
Don’t pay them! If you do, they have to recalculate your refund to include this.
Also the decision is legally binding. You no longer owe them any money.
Joe says
Okay – and they cannot go after my guarantor for missed payments if I don’t pay right? I mean I’ve overpaid by over 3K anyway based on what I borrowed but could they in theory say they will ask my guarantor if I don’t make next payment?
Sara (Debt Camel) says
Tell your guarantor what has happened, that the loan is going to be ended and that they should cancel their direct debit for it.
Lucas says
Hi, I am a mental health nurse. My patient took out a guarantor loan with Bamboo in 2016. She took this out at the start of her mental health breakdown. She was experiencing a manic bipolar episode.
She paid back every penny of the loan, missed alot of payments but ultimately paid it off.
She borrowed £4500.
Paid back £11542
Bamboo checked her income but didnt check her expenditure. She had many loans already didnt even have the income to cover her current outgoings.
Within 48 hours of sending the complaint bamboo offered a settlement of £804 made payable within 24 hours. To which she accepted. I wasnt scheduled to see her until today as its been 6 weeks since i raised the complaint with her and i am shocked that she accepted. My patient suffers not only with bipolar, she suffers with a varied range of anxiety and raising the complaint in the first instance gave her panic attacks so when they responded with the offer she just accepted so the issue was closed. Unfortunately she is due a full refund of the loan completely as they didnt carry out the proper checks.
Can I do anything to reverse the offer she accepted? Am i able to complain to the FOS on her behalf. She derserves to have this money back she paid back more than double of what she borrowed and was left without money for food on most months. Any advice would be greatly received.
Sara (Debt Camel) says
when she made the complaint, did she explain her mental health problems?
Lucas says
Yes, i wrote the complaint email and it clearly stated all of her issues and explained how her life has been effected by it. I also ensured to include her bank statements 1 year before they gave her the loan and 1 year after to hughlight how unaffordable the repayments were to her.
In their final response they have acknowledged her mental issues and wished her good health in going forward and said if you wish to accept this offer we can refund you the amoubt within 24 hours and close this case so she accepted just to be done with it.
Lucas says
Yes. I wrote the complaint and detailed her mental health issues and the effects it has had on her life.
In their response they acknowledged her mental health and wished her good health in the future.
Sara (Debt Camel) says
in that case you can argue to FOS that they made a very poor offer taking advantage of her mental health problems. You can send a complaint to FOS on her behalf – assuming she will agree to this of course.
I don’t know whether this will work, but what is there to lose by trying?
Lucas says
I’ve sent Bamboo an email this evening exclaiming exactly this. I explained she accepted this so quickly (like within 5 minutes) of their offer and she did this because of her anxiety not because it was a fair offer. I have advised them they can respond to my email within 24 hours after this I will complain to the FOS as I feel they have taken advantage of someone with serious mental health problems. I’ll keep you updated on the progress. I’m hoping for a swift response as they responded so quickly last time but I guess we will see.
Sara (Debt Camel) says
Please let me know!
Ed says
Hi All,
Just wondering if anyone has received funds from Buddy recently? I am due a refund in around 10 days.
I read an article on trust pilot about them not taking any more loans and on there website it does not let you apply anymore.
Has anyone got any information on this? Really hoping they don’t go under, but doesn’t look great.
Cheers,
Ed
Sara (Debt Camel) says
The last person to get paid by Buddy was in early July.
There are another half a dozen people also waiting for a payout at the moment.
Joe says
This is slightly concerning thought I haven’t found any firm information. I couldnt see the trustpilot article you mentioned but when I used the sliders to apply for a loan on their website, when I clicked get my loan nothing happened. I have noticed when calling in there’s no longer an option to apply for a new loan unless it’s just the number I’m using.
Really hoping we get out payouts in full.
pol says
It is very concerned but I’m sure if we have already had redress figures then surely they will still have to pay this out?
Sara (Debt Camel) says
This is general information, it applies to any company. I am not saying Buddy Loans is about to go into administration. I understand why people are worried, but some firms go a long while not making loans but paying out on refunds and not going under.
When a firm goes into administration it is normal for all payments to be stopped. A few payments that have already been authorised to their bank may go through, but the first thing administrators do is usually put a stop to any further payments. People will then have a claim against the firm in administration – they are unsecured creditors. For payday lenders, unsecured creditors often only receive a small percentage afro 12-18 months.
Ed says
Hi Guys,
I am concerned too, I have a confirmation redress letter and email confirming they now have my bank details and will provide a refund within 28 days for the agreed amount.
The final date is 17th of Sept which is 10 more working days technically, what are your expected payment dates?
Thanks,
Ed
Pol says
Hi Ed,
My email said I’d have payment within 28 days which is 16th of this month, really hope we don’t get shafted
Joe says
I’m behind you both as although a final decision has been sent to them by FOS, they still have around 3 weeks to send my redress amount so could still get shafted.
I haven’t found anything online about this but Sara may know more if there are rumblings that it’s about to happen?
Sara (Debt Camel) says
I don’t pay much attention to rumblings from customers for small lenders – sometimes they go under soon, often the firm limps on for 3-6-12 months before going under, sometimes they turn themselves around and never go under.
If the lender is large then I am more likely to see enough comments to spit a change in the pattern of what is happening – but even then I am guessing.
Emily says
Hello Sara my mothr made a complaint being a guarantor for my loan (which I won)
We made our complaint for her back in jan 2020 we had no response and got in touch with the Financial ombudsman. They replied back this July saying they can mot help with our claim due to the circumstances that amigo are in now. How can she move forward with her claim now?
Sara (Debt Camel) says
Sorry, what do you mean by “which I won”?
Emily says
I had the loan and I won my claim but my mothe was the guarantor
Sara (Debt Camel) says
Was your mother not released as guarantor? Amigo normally do this when a borrower wins an affordability complaint about the current loan.
Emily says
They didn’t ask my mother over affordability regarding her situation
Sara (Debt Camel) says
If you had Amigo uphold your complaint about affordability as the borrower, then Amigo will usually have released your mum as guarantor. Even if the loan was affordable for her.
Are you sure that they haven’t done this?
Ed says
Hi Pol,
I have emailed Buddy just asking them to confirm that i will receive payment on the 17th of Sept which is my payment date.
Not had anything back yet.
Will keep you posted.
Thanks,
Ed
Pol says
Hi Ed,
I’ve emailed them too but had no response. My payment date is the 16th, no idea what will happen if payment is not made and they’re not replying to any emails.
Joe says
Hi both they aren’t responding to the emails sent to complaints email address I’ve noticed. I’ve spoken to a few agents when I’ve called in, but they don’t let you talk to complaints and just say email.
They wanted me to keep paying and make my next payment but I called and explained this payment may then not be considered as part of my upcoming redress amount, so they agreed to a hold on my account – I did explain that as I’ve already paid principal amount then I’m not obliged to pay, as per FOS decision. For some reason, the agent said they could not confirm that (clearly they can see how many payments i’ve made and how much I borrowed but this was another of their tactics).
Anyway, my account’s on hold and before the end of it, I Should have received confirmation of my redress amount.
Hopefully those who are waiting for a refund receive it by the date they should!
Ed says
Hi Guys,
I received an email just now from customer service saying it will be paid within 28days of the request still.
Hope you get sorted Joe, when is your payment date?
Thanks,
Ed
Joe says
I’m a little behind you two – I haven’t yet received my redress amount as Buddy have 4 weeks from the final FOS decision which was around the 28th August, so currently it looks like another 4 weeks from 25th September that I should receive something, because they still have two and a bit weeks to contact me regarding my redress figure. So in total I’m about 6 weeks before i receive my refund.
Fingers crossed!
Ed says
The trust pilot reviews seem to be getting worse by the day regarding people receiving there redress.
Really not looking positive, all we can do it wait and see how it all plays out!
Ed
pol says
Hi Ed,
Thanks for the update. Fingers crossed then they’ll still be paying out then. Next week can’t come quick enough 😂, just want it all putting to bed now.
Good luck guys
Sara (Debt Camel) says
Very sorry to report that Buddy is now in administration :(
NAG says
Has anyone that was waiting for TFS to pay up had any joy?
It would be good to get some reassurance that they are because there were a few instances of them not paying and ignoring Ombudsman decisions…
Sarah says
Hi, I’ve been paid my redress. I got my final redress figure and a date that it would be paid via email. It was paid on the day TFS said. Whenever I emailed they replied back so I had no problems.
Am says
Hi that is great news.
Can I ask if TFS delayed through the process. Mine was upheld at assessor level and TFS asked for more time to reply to them, they then did not send a response at all so I am now on the ombudsman queue.
Sarah says
They didn’t delay at all, they got back to ombudsman within in the alloted time. It was all pretty straight forward fortunately. I hoe you get yours sorted soon. Good luck 👍
C says
Hi Sarah,
What we’re your time frames please.
Thank you
Sarah says
The adjudicator upheld my complaint in March, TFS disagreed, Ombudsman upheld it in July and I was paid end of Aug, a few days after the 28 days was up.
C says
When did you initially lodged your complaint to the ombudment? Apologies for all the questions.
Mine was upheld end of April after submitting in November 2020 so just looking at approximations.
Sarah says
I initially logged my complaint to the FOS in February 2020 so it was just over a year until it was picked up by an adjudicator.
AM says
TFS did not even reply to my adjudicator even though they initially asked for more time. Now waiting for it to get picked up.
Sarah says
No they didn’t delay in fact they acknowledged on the same day I accepted the adjudicators decision.
I habe emailed them and they got straight back to me so I was never waiting for a response. It was all very straightforward.
NICO says
Hi – mine is upheld by FoS late April, rejected by TFS – waiting for an Ombudsman now – will be 5 months at the end of Sept. Seeing quite a few 5 months waits so hopefully mine will be soon.
NICO says
Hi – any update on your compliant being picked up by an Ombudsman please?
C says
Hi Nico,
I’m still waiting . Had the generic you are in the queue email yesterday.
Im not holding out much hope now tbh. I think TFS will prob be in administration before mine gets reviewed.
NAG says
I’m still waiting for FOS. Been waiting for an Ombudsman since May. Original complaint to TFS was Feb 20. I am convinced TFS will go into some kind of scheme and that’ll be it. Because of TFS delaying constantly and the FOS taking so long. I’ve basically given up hope of ever getting the full amount and if I get anything, it will be pennies in about 2 years 😭
Sara (Debt Camel) says
Buddy Loans is now in administration. See my new article on this https://debtcamel.co.uk/buddy-loans-administration/
All comments on that other page please!
I am moving recent comments about Buddy Loans over onto that new page, so if your comment has vanished, that is where it is!
Am says
No response yet
S says
Hi Sara
I recently had a complaint upheld by an adjudicator at the FOS for an unaffordable guarantor loan and the business have agreed with the decision. So I am now waiting for the loan company to contact me with my redress amount but could you tell me where I stand with making my monthly repayment which is due next week? I have somehow struggled and managed to keep up with the repayments to protect my guarantor if nothing else but I’m left short every month so as the business has agreed that the loan was unaffordable can I now stop making the repayments or should I wait until they contact me and the loan has officially been closed. Many thanks.
Sara (Debt Camel) says
Who is the lender? Has the business said they will release your guarantor?
S says
The lender is 1 plus 1 loans and I was under the impression that now I’ve won my case that means my guarantor is automatically released??
Sara (Debt Camel) says
Probably. I haven’t heard of 1 plus 1 being difficult with this. The best things to do is to ask them I am afraid. Say if they do not release your guarantor your guarantor will be putting in a complaint.
S says
OK great, I’ll send them an email and ask. Thank you.
Siobhan says
Hi!
I have had an ombudsman uphold my complaint against TFS. They have 28 days to respond and having read through comments before, I expect them to delay this.
When those 28 days are up and I accept ombudsman decision, will it be a further 28 days for payment?
Thank you!
X says
Email Louisa Sutton telling her you accept. This is what I done and then she provided me with the redress figure and when it would be paid. It was paid to me on the 28th day. I do think though if I hadn’t of spoken with Louisa it would have dragged on. Hope you get your refund soon.
Sara (Debt Camel) says
This is the email address louisa.sutton@tfsloans.co.uk
Siobhan says
Hi Sara,
Just to let you all know, Louisa Sutton no longer works for the company. A lady called Teresa (forgot to ask her last name) has taken on her role having asked for Louisa on switchboard.
Having just spoken to Teresa, she seemed lovely. I’ve been told I’ll have my redress figure on Wednesday coming and payment at the end of the week which is much faster then the 28 days. Fingers and toes crossed this actually holds up.
C says
Hi Siobhan,
Just curious, did they follow through with what they had told you and send you your figure?
Raavi says
Hi
Can I ask if you did receive your redress payment as per your timeline above? I had a final ombudsman decision, which was accepted and sent to TFS on the 1st October. I did email Theresa who confirmed I would receive the payment on the 28th October and a redress figure 5 days prior to that. I have since noted on their website they have stopped giving new loans, and they are overdue with their accounts on companies house, which is starting to make me panic.
C says
Hi Siobhan,
Thats good news. I think it is 4 weeks for amount, then 4 weeks for payout from reading the previous comments.
Can I ask regarding your time frames please? Such as initial complaint, then adjudicator to onbudment decisions?
Thank you
Siobhan says
Hi,
My initial complaint was in February 2020 and down as a priority. Adjudicator picked up in April 2021 and upheld. TFS asked for a 14 day extension past the 28 days and then never even responded. Went to ombudsman in August 2021 and had an email 10 days ago saying an ombudsman was reviewing with them upholding yesterday.
AM says
Good news, I have the same experience with TFS just waiting for ombudsman to pick up the case now. Your wait was not too long so fingers crossed mine won’t be
AM says
Great news, how long did you wait for the ombudsman to pick your case up after the assessor had upheld it
NICO says
Still waiting….c150days now.
Linds says
Hello,
I’m just wondering if anyone has had any luck with Guarantor my Loan, they rejected my complaint in 2020, it then went to the FOS who upheld my complaint. After a long wait from GML, they rejected the FOS decision. It has now been waiting for the Ombudsman to pick it up, which has been since Jan 21.
I understand the FOS are extremely busy but could GML go into a scheme before it is picked up? This has happened to so many people with other companies.
Sara (Debt Camel) says
A Scheme is very unlikely for a small company, more of a worry with small companies is that they may go into administration … not that I have any reason to think GML is in trouble.
Have you phone FOS up and asked, as 9 months is a long wait.
Linds says
Hello,
I sent them an email and they replied saying it is still waiting to be picked up by an Ombudsman and they will get in touch when it has.
Sara (Debt Camel) says
You may get a better answer if you phone up about this.
AM says
What is the normal wait time for an ombudsman to pick up?
Mine has been with FOS for a year now and adjudicator passed it to ombudsman in July
Sara (Debt Camel) says
This has been getting faster. I am surprised someone is now waiting 9 months.
Linds says
Thank you I will give them a call tomorrow
H says
Hi Sara – you mention that Ombudsman decisions are getting faster, could I ask what info you have on this please? I have outlined to FoS how the wait is affecting me in many ways and I keep getting the stock answer.
thank you
Sara (Debt Camel) says
I see a lot of comments on this page and on other refund pages. Now FOS is not having to deal with Amigo and provident complaints, things seem to be speeding up.
Andrea says
Anyone had any further updates recently? Two weeks ago my adjudicator let me know the Ombusman now has my TFS case for the final decision!
March 2020 it was submitted, Tfs rejected after one day as it was over 6 years, it’s been in queues for the adjudicator then the ombudsman, back to adjudicator now back to the Ombusman, it’s been a long waiting game.
How long did anyone else wait for that last leg? Once the Ombusman finally picks the case up?
C says
Someone posted a few weeks ago and it took about 3 weeks from notification an ombudsman had picked it up I think to receiving the final decision
H says
Hi – on the 22nd Sept I was told my TFS was with the Ombudsman, its been 175 days since it was referred to the Ombudsman. So I am 26 days since I was told the Ombudsman now is looking at it. This is a previously upheld (Adjudicator) decision – the wait is just so difficult to deal with despite FoS being made of the all the factors affecting me :(
C says
Hi H,
Can I ask when you initially lodged your complaint at the ombudsments?
Andrea says
Thanks everyone for the reply.
Mine was sent to the Ombusman March 2020
H says
Was in October last year. Apparently its with an Ombudsman now.
NAG says
Mine went to Ombudsman queue in May and I’m priority apparently… Still waiting. That’s for final decision against TFS after adjudicator upheld my complaint.
Kylie says
Hi all, I had 5 guarantor loans, buddy, TFS, amigo, 1plus1 and TrustTwo. We started the process of complaints to all these companies 2 and a half years ago and last week we got the last one paid out. All of these cases went to the FOS and then were escalated to the ombudsman and I won my case against them all. Please don’t give up, be patient, send follow up emails and calls and keep pressing. You’ll get there. In total I received around £38,000 back in redress. It’s worth it. These companies took advantage of people at their lowest ebb when all the mainstream lenders knew we couldn’t afford it. Carry on the fight. Keep at them. Good luck to everyone. My hearts with you!
Thomas says
Kylie,
Thank you for your post! which is just what I needed to hear, something possitive. Question time now lol!
I have had my claim at adjudictor level upheld with 1 plus 1. Of course they didnt agree. So I have been in the queue for the ombudsman since June 03. 21. , 5 months next week. E-mailed my adjuicator yesterday to be told im in the Queue for ombudsman. Which I already knew. I would of thought that with all the recent firms going under this would be happening sooner than it is. Thats the general situation. Could you tell me about how your claim with 1 plus 1 went please.
Kylie says
It was back and forth and back and forth! 1plus1 did everything they could to try and stall, cancel, put it back on us. They said that we had put in an affordability complaint in the past and it had been declined by then so now we were out of the 6 months but we hadn’t, we had only requested the SAR (which they denied as they said we would use the information against them and we had to take that to the ICO!) It’s been a long time but the ombudsman upheld. Just make sure you’ve sent as much info as possible about your situation at the time, if you had any mental health issues, addictions, any previous credit issues. Send everything you can to back up your claim. I have to say that 1plus1 were the biggest cowboys and the underhanded behaviour and bullying techniques from them were ridiculous. I’m actually surprised I’ve not seen more claims against them.
Thomas says
Thanks Kylie,
I have had the same with 1 plus 1 they are ruthless. Im hoping that the ombudsman picks my case up soon. Its coming up to 5 months in queue and its horrible checking e-mails constantly.
Cheers Kylie.
Kylie says
The adjudicator gave her decision and then they had 4 weeks to respond. We waited 6 weeks then followed up with the adjudicator and she had left her job!! We had to chase to get it picked up by someone else. I would chase again if you haven’t done so already! Chase regularly!
Andrew says
We have an irresponsible lending claim against Funding Circle (FC) for a guarantor loan which is now with the FOS. The loan was taken out in Oct 2018. I notice FC have no complaints (in either the FOS or FCA online databases) against the lending part of their business going back to 2019. Is our complaint the only one against FC that you are aware of?
Sara (Debt Camel) says
Can I check if this was a consumer credit act “guarantor loan” or if there was a guarantor for a business loan?
Andrew says
It was a guarantor for a business loan
Sara (Debt Camel) says
ok. This page is for consumer loans which is why FC haven’t been mentioned here. I would be interested to know how you get on.
Andrew says
Thanks, I have 4 complaints with the FOS, will let you know. The FCA complaints data shows no complaints against FC Lending ever, and there are no FOS cases on the Lending side of their business either. They are either so well run they have no complaints or they are intimidating to the extent of stopping complaints?
Sara (Debt Camel) says
Complaint numbers are only reported above a certain number. I had never heard of them offering guarantor loans, which is why I asked you.
Andrew says
I think all FC loans require a personal guarantee, almost always from a director
Sara (Debt Camel) says
Yes but these are personal guarantees – they are not the “guarantor loans” described in this article. I am sorry but the consumer regulatory environment doesn’t apply to these business loans.
Daniel says
Hi Sara , my sister has a loan with Amigo and my moms her guarantor , do they still have to continue paying? They haven’t made a complaint yet wasn’t sure if they was past the deadline .
Sara (Debt Camel) says
Read https://debtcamel.co.uk/amigo-new-scheme-2/ for the up to date position on Amigo. That article is kept updated.
Your sister and mum need to think back to the time the loan was taken. Was it really affordable for your sister – could she pay Amigo and also her other debate bills and living expenses without getting deeper into debt?
Then the same question for your mum. Could she have afforded to make all the repayments if for example, your sister had suddenly dies in a car accident, and still paid all her own debts bill as and expenses?
How large was the loan and how much has your sister paid so far?
What is your sister and mother’s current financial situation? Can they afford the payments at the moment? Is your mum renting or buying?
Chris says
Hi Sara, I have a complaint with fos against tfs loans. The investigator at fos has said my complaint should be upheld and gave tfs until the 14th Oct to reply, I have not heard back from fos so I assume tfs have failed to respond. I have managed to make the payments each month so as not to cause any problems for my guarantor but I can’t make the payment this month. Would tfs be able to chase him for the payment whilst waiting for the complaint to be escalated for the final ombudsman’s decision or would I be able to request they take no action until the complaint is resolved? Any advice would be greatly appreciated. Thanks
Sara (Debt Camel) says
There is no legal ban on them asking your guarantor to pay. Can you talk to your guarantor about this and how your FOS case is going and that if you win it they are just released?
If you can’t pay, then what alternative do you have?
Andy says
Hi sara are tfs loans going into administration, as I have had my complaint upheld at adjudication level , but fear I will not recover the interest owed due to this, as they are not accepting new loans and not replying to my emails
Sara (Debt Camel) says
I don’t get advance warning of this!
Sometimes a lender stops giving loans and carries on paying refunds for years – eg Avant. Sometime the halt on lending is just temporary. Tell your adjudicator what is heppening.
Andy says
Hi sara thanks for the speedy reply I have informed the adjudicator today, I have a feeling they will drag this out to ombudsman stage , reading the reviews , is there a chance if they do that I won’t recover the interest paid
Thanks Andy
Sara (Debt Camel) says
yes if they go into administration. (Or if they set up a Scheme, but that’s pretty unlikely for small lenders, administration is the real concern.)
Andrea says
So I finally had my final email on Friday, the Ombusman had upheld my complaint against TFS called them
Out on lots of things, I only started this 7th March 2020 TfS rejected the next day as it was over the 6 year rule ( by 1 week) I’d had 3 loans and completed my final loan 6 years for £6000 at £222 per month!
But I paid that every month without fail as I would let my friend down. I missed everything else including my mortgage, and that’s what these companies pray on!
So anyone else waiting hang in there. Mines been with the FOS since March 20, got my adjudicator, then had to wait for the Ombusman then back to adjudicator then waited for the Ombusman again.
Just have to wait for TFS to put this right now.
Sara I wouldn’t of known what to do without this site, thank you so much, again like After amigo I’ll make a donation to the CAB
AM says
Great news, keep us posted on what TFS do next.
Can I ask how long you waited for ombudsman after the adjudicator had upheld it?
I have been in ombudsman queue since August
Andrea says
Hi it got sent the 2nd time 3rd august, and picked up 1 st October,
Hopefully yours won’t be too far off now
H says
Hi, my is at Ombudsman since 22nd October, previously up held…based on yours I hope mine is soon. How many days was it for you from Ombudsman pick up to it being upheld pls?
Andrea says
Hi it was 1st October got my decision 29th October
Andrea
Andrea says
Hi again
So they emailed yesterday confirmed they will be paying me out on the 29th November, ( I did email them on Friday once I got the decision)
She confirmed everything and said I would have a figure 3-5 days before that date.
Andy says
Keep use posted , as this one is dragging for me too
AM says
Yea great news, I will also keep you all updated. It really helps to know other peoples experiences
Andy says
Keep us posted on TFS as my situation is upheld and waiting for a response from tfs before end up at ombudsman stage
Thanks Andy
AM says
I had the same but TFS asked for more time and then still did not respond. It just delays the process. Same as you I am now waiting for it to be picked up by ombudsman
R says
Hi
I recently made a comment about TFS not giving out loans and also not filing for accounts. I had a decision upheld 4 weeks ago and was told I would get the redress email 5 days prior to 28th April and then the redress on 28th April. I had to keep chasing as I got neither of these and was then told there was an error with the transfer. I had to email everyday and got the redress today. If anyone needs an email address, email Theresa.Libby@tfsloans.co.uk, she is only one that seems to help.
Andy says
Great news , hopefully they won’t go under before mine is dealt with 🤞
John says
Yeh, Hopefully they will
H says
Hi Andy….any news on your tfs complaint?
Andy says
They have asked for 2 weeks extension on my adjudicator decision, in other words drag it out as long as allowed then send to ombudsman, typical stall.tactics
AM says
Did that with me and did not send any response. I am now 4 months in the queue waiting for ombudsman to pick it up.
Andy says
I am in fir a long wait then, unless they go under , but hopefully they pay up fir you soon and get a decision
C says
Hopefully they hurry up and move along and don’t go bust in the meantime.
Near 6 months in the queue for an ombudsman review now. Such a slow process!
H says
Provided some more information to the ombudsman this week….2 weeks until decision being told. Very worried about an overturned previous uphold though.
AM says
How long did you wait for your case to be picked up by ombudsman
C says
I got my adjudicator decision In April, passed to ombudsment in June and still waiting, so nearly 6 months now :-/
karol says
Hi there,
I have just made the affordability complaint to Bamboo Loans.
Could you please let me know, how this can affect my credit score? Is there anything what, I should be worry about?
Many thanks in advance.
Sara (Debt Camel) says
Making a complaint doesn’t affect your credit record unless you stop making payments.
One thing about Bamboo – a lot of people have had a poor offer but persuaded them to improve it… so come back here if you are made an offer but you aren’t sure if it is good enough.
karol says
Will do.
Thanks so much for response.
karol
karol says
Hi Sara,
Apologies for lengthy response but, I am not sure how to proceed further with Bamboo, after their response.
Would you be able to advise?
They have send me back all the requested documents such as credit report, calls, personal details and transaction history. Below is part of the email from them.
You have the right to object to processing of your personal data which is based on legitimate interest grounds, at which point we will be required to demonstrate compelling legitimate interest grounds which override your interests, rights and freedoms.
Where your personal data has been transferred outside of the European Economic Area, you have the right to request details of the safeguards relied upon by us in relation to the transfer.
If you have any questions, then please contact our Customer Service Team on 0292…; our account officers can be contacted between the hours of 8:00am and 8:30pm Monday to Thursday and between 9:00am and 5:00pm on Friday and Saturday.
You also have the right to complain to the Information Commissioner’s Office if you are not happy with how we have handled your request. You can contact them by calling 0303 123 1113 or by visiting their website: https://ico.org.uk/.
Conclusion
I trust that this satisfies your requirements, if however, you have any questions or concerns relating to the request please do not hesitate to contact us.
Sara (Debt Camel) says
You should reply that they have sent you the requested informat=yion but you are still waiting for a response to your affordability complaint.
karol says
Hi Sara,
Bamboo have come back to me and explained in detail that : ,, At the time of your application, we could only rely on the income, expense, and credit information available to us from third party resources such as TransUnion and your application info.
Basically, I have paid off the loan and, I am now paying the interest APR49.70% but they have also made me a goodwill offer – ” which is made in full and final settlement of this complaint, is to reduce your balance by £3,074.64. This is the equivalent of 12 months payments.”
Question is: Should, I continue with complain to Financial Ombudsman Service?
I’ve taken: £6,500.00
Remaining balance: £10,248.58
Reduce offer: £3,074.64.
Sara (Debt Camel) says
how much do the payments you have made add up to?
Is this a normal loan or guarantor loan – Bamboo do both.
If it is a guarantor loan, what was the financial position of your guarantor at the time of taking the loan – could they have afforded to make all the repayments to the loan and still been able to repay their own debts, bills and living expenses?
karol says
It is a guarantor loan and his financial situation is very good. He would be able to pay it after all expenses.
20/03/2020 Fixed Interest £8,872.98 £15,372.98
20/03/2020 Advance £6,500.00 £6,500.00
26/11/2021Payment £256.22 £10,248.58
Paid 20 instalment x £256.22 = £5,124,40
After accepting the offer, I would be still having to pay off around £7000
Karol says
Hi Sara,
Would you be able to advise bit more?
I am happy with the final response from Bamboo but wish to check if I should still proceed to FOS.
Sara (Debt Camel) says
It doesn’t sound a good offer to me, but if you are happy with it, then why would you want to take this further?
If you want to compromise, you could go back to Bamboo and say that is not a reasonable offer but if they increase the balance reduction to £5,000 (or £7,000 or whatever you think is fair) then you would be happy to settle,
karol says
Hi Sara,
I have asked for 24 month reduction.
Would you know what are the chances winning the case when it is with FOS?
Many thanks,
Sara (Debt Camel) says
Can you say what your situation was when you took the loan?
If Bamboo had been convinced they would win, they would not have offered to take 3k off the balance… that’s all I know so far.
karol says
I’ve taken just one loan with Bamboo for £6,500.00 taken out on the 20th March 2020. It is a guarantor loan .
—————————-
As part of this assessment, we completed a thorough review of the credit report that we obtained at the time
of your application. Our review showed that you had some good credit profiles going back several years at the time of your application, including a current account opened in 2009 which had been maintained excellently.
More significantly, in our assessment, you were utilising just 60% of the revolving credit that was available to you and there was no evidence of excessive credit searches showing on your credit file. In addition, you also had the support of your Guarantor who was willing to make the repayments on your behalf if you were unable to do so.
Whilst we note that you did have some adverse profiles showing, we would mention that Bamboo specialises inproviding credit to customers, particularly when supported by a suitable Guarantor, which is suitably risk price adjusted to those who have a thin or impaired credit file. This provides these customers with access to credit and allows them the opportunity to rebuild their credit profile by paying affordable payments on time. It is because your Guarantor was ready to vouch for you and stand behind your repayment obligations that we were
able to offer you the loan. We were therefore aware of the two defaulted accounts and the active CCJ, however, we took comfort in the fact that this information was largely historic. At the time of you applying, you had not defaulted on any new line of credit for 20 months. We also note that the stated purpose of the loan was for debt consolidation which could have helped you to clear all of your outstanding debt into one affordable monthly repayment.
Sara (Debt Camel) says
the fact you had a guarantor reduced the risk to Bamboo but has NOTHING to do with the loan was affordable for you. Literally thousands of borrower complaints at FOS have been won and they all had guarantors!
In what a lender writes, they normally select the good bits and don’t mention the bits that support your complaint.
So you tell me, was this loan affordable for you or was it a struggle right from the start?
Is there anything about your credit history that Bamboo seem to be ignoring – had you had recent payday loans? Did you use a lot of your overdraft? If a Bamboo loan was cheaper, then the debt it would be consolidating must be expensive – why did you have a lot of expensive debt?
karol says
Hi Sara – thanks so much for your responses and at the time of taking the loan, I did struggle with the credit card payments and the loan was taken in fact to pay the credit cards. I was in shock, that they would agreed for the loan but., I thought it was simply because of guarantor. Todays financial situation is not better for me. I have emailed them today to reduce the lone by 24 moths which is over £6000 I will wait for their response and seek your advice.
karol says
I am not sure how they have calculated my net monthly income as this is wrong and, I would not put this in application. I have copy and paste few paragraphs as the response is so long…
Bamboo had to prove that you were receiving a minimum net monthly income of £1,235.77 to be able to
sustainably afford the loan repayments. At the time of your application, you self-declared that you had a
monthly net income of £4,850.00 and ticked the box on our online application to confirm that the financial
information you had provided was accurate
Sara (Debt Camel) says
Is it possible they took a monthly income figure and treated it as weekly?
You may have been confused and completed the application incorrectly but it should have occurred to Bamboo that anyone with an income that large would not need a loan from them.
If that is the case you have an excellent chance of winning at FOS.
karol says
Hi Sara
My monthly Net pay today is 1772.00 – below is the part of Bamboo response, which is wrong. Would this be sufficient for FOS to win? Also, they have responded to me again, I will post this shortly. IF YOU COULD let me know the process to make a claim with FOS would be greatly appreciated.
You were initially presented to Bamboo as a 37-year-old individual, in full-time employment. You had an average net monthly income of £4,850.00 and were looking for a loan of £6,500.00. You had opted to pay this back over 60 months.
Bamboo had to prove that you were receiving a minimum net monthly income of £1,235.77 to be able to sustainably afford the loan repayments. At the time of your application, you self-declared that you had a monthly net income of £4,850.00 and ticked the box on our online application to confirm that the financial information you had provided was accurate.
Sara (Debt Camel) says
Would this be sufficient for FOS to win?
I can never guarantee someone will win a FOS case.
But my guess is very few people applying for Bamboo loans have a net monthly income of £4850 – that would be earning about £85,000 a year. You don’t think you write it on the application but even if you mixed up monthly and weekly, Bamboo should have queried it as it must look so unlikely.
The article above describes how to send a complaint to FOS. In your complaint you should make it clear you are sure you did not write £4850 down as your monthly income and say that if you had mistakenly Bamboo should have challenged it as being implausible that anyone with that much disposable income would have such large debts or need a Bamboo loan.
karol says
Hi Sara – one more question as, I have asked Bamboo about my monthly net income mistake and they have responded. Is this credible answer? I just want to be sure before making decision if to proceed with FOS
Whilst you declared to us that your net monthly income was £4,850 per month, £1850 from wages and £3000 from ‘other’ income, we only had to prove that you had a net monthly income of £1235.77 for the loan to be affordable. We did this using TransUnions affordability calculator TAC. Additionally, the credit report that we obtained at the time of your application showed that you had a total outstanding debt of £3,444.00. As you borrowed £6,500.00 for the purpose of debt consolidation, this would have been more than enough to clear the outstanding debt that we were aware of. Any debts that you had abroad would not be visible on a UK credit report and as such, it is not reasonable to expect us to be able to take these into account.
Sara (Debt Camel) says
£3000 from ‘other’ income
did you say that?
It sounds to me to be something that Bamboo should have verified by looking at your bank statements. As i have said before , it seems very unlikely that someone with such a large monthly income would have such large debts as they should have been able to repay them rapidly. why would you need to borrow off bamboo?
did you have debts abroad? Were you making payments to these from your bank account?
karol says
Hi Sara,
I have now submitted my complaint to FOS.
Thanks so much for all the advice and will update once will hear from FOS.
Should, I inform Bamboo that it is now with FOS?
Many thanks,
Sara (Debt Camel) says
You don’t have to, but I think it is better to be clear what you have done.
karol says
However, I am keen to see a swift and amicable resolution to your complaint. In this regard, I have two options for your consideration, both of which I believe are fair and reasonable. Firstly, we will agree to waive £4,611.96 from your current balance to repay. This is equivalent of 18 months payments, and you will continue your repayments as originally agreed until the remaining balance of £5,636.62 has been cleared. However, should you find yourself unable to meet your contractual repayments please contact us on 02920 858746 at your earliest convenience so that we can discuss a sustainably affordable repayment plan with you moving forward.
Alternatively, we would accept the sum of £4,099.30 to close your account, which is the equivalent of reducing your outstanding balance by 24 payments as requested. However, this offer would be under the condition that you settle the loan in full within 30 days of acceptance. Please note that we do not consider that we have done anything wrong in providing you with credit and it is highly unusual for us to make offers such as this. We have taken your current situation into account though and provide these options with the hope that you can get your finances back on track.
——————-
Apologies for long messages but want it to make sure that all will be posted this time. I have never made a claim with FOS and, I am not sure if I will be able to win this but my suspicion is, if they already decided twice to waive some money that, I might have a chance.
If you could please advise, I’d appreciate as I am not sure if I should proceed with FOS or accept the offer?
Sara (Debt Camel) says
It’s up to you – you said before that “I am happy with the final response from Bamboo ” and they have now improved it.
Only you know how unaffordable this loan was – you cannot trust Bamboo to have assessed it fairly. Especially as they apparently thought you earned 85k a year!
As you say, they have made you two offers – they probably wouldn’t have done that if they thought they had a good case.
karol says
Thanks for this, do you know how the complain process looks like with FOS?
Is there any advice on the web here? I’ll research FOS complain and revert back to Bamboo with 3rd offer with the added note about income.
Would you recommend anything else?
Sara (Debt Camel) says
I don’t know why you think this is so difficult. It is easy to send a case to FOS, that is why I haven’t written a separate article on it. Literally thousands of people have done it using what I said in the article above under If the lender rejects your complaint, go to the Ombudsman
H says
Hi Sara, msg from FoS recently, i have a claim at Ombudsman stage, previously upheld, stating
“In TFS’s final response to you, part of its summary of your complaint was that you said your credit file at the time of the lending would have shown arrears, defaults and that you were in a DMP/IVA.
Can you confirm if you did enter a formal arrangement to pay off your debts, before, during or after these loans were approved by TFS?”
Any thoughts on how I could respond pls?
Thanks.
Sara (Debt Camel) says
A “formal arrangement” is an IVA – were you in an IVA at any point?
H says
Hi, yes, quite a few plus some defaults.
Sara (Debt Camel) says
No, sorry, an IVA is an Individual Voluntary Arrangement, it is a form of insolvency that has to be set up by an Insolvency Practitioner, covers all your debts and lasts 5 years. It isn’t an arrangement to pay a creditor, that is an informal arrangement…
So have you ever been in an IVA?
H says
No then it that case, just Arrangement s.
Sara (Debt Camel) says
That’s good because IVAs are big complications, as the article above says.
I suggest you go back to the adjudicator and say you have never been in a formal arrangement and that you confused IVAs with payment arrangements – you have only ever been in payment arrangements and that is what would have showed on your credit record.
C says
Hi Sara,
I’ve noticed on the TFS account on .gov it says something like ‘first gazette strike off’ 30th November 2021′. Does that mean the company is going to be dissolved?
Sara (Debt Camel) says
no, it just means they are late filing last year’s accounts.
Nazia bibi says
Hi sara ive received a letter from amigos today about the account being in arrears they have got back after a long time the last payment i made was back in march so whats the latest news on them if ypu coyld let me know please
Sara (Debt Camel) says
Best place for amigo news is the Amigo Scheme page – here is my latest summary https://debtcamel.co.uk/amigo-new-scheme-2/
Nazia bibi says
Hi sara whats this equitable set off can that be any use to me or shall i just wait for the scheme
Sara (Debt Camel) says
Read https://debtcamel.co.uk/stop-paying-amigo-set-off/ and ask in the comments on there if you have any questions.
Andrea says
So I finally got paid out from TFS -started 7th March 2020 paid out 1st Nov 2021. They rejected my claim in 1 day as it was over 6 years ( 1 week over) stick with it guys who are waiting!
So a note to others check their working out, I had loans 2-3 upheld today the final figure was well below what I expected by 5k so I asked for a breakdown. They added loan two abs three, 4.5k and 6k and took that of the final figure. I went back and copied in the Ombusman adjudicator, ( who was epic) and explained when I took loan 3 that cleared and paid back loan 2. They agreed and says it was an error then send the calculations back but the payment abd interest dates where 6 months ago so again that was wrong and also another £500 short.
Was I just unlucky or are they trying this with others, don’t be afraid to ask for the working out on your figures, abs double check folks!
Sara (Debt Camel) says
Perhaps if they started objecting less and paying out sooner they would get better at the calculations…
But it sounds as though everyone should double check the figures they are given.
H says
I am in the same position. I will make sure I get a copy of the calculations, have they updated your credit file ok? Also applied the 8%?
Andrea says
Yes for the 8% credit files take 4 weeks to update, I didn’t have any missed payments for TFS and mine loan finished a year ago
Xx says
16 months into my Ombudsman complaint for TFS loans! Got picked up by an adjudicator in October, TFS rejected their advice now into Ombudsman queue. I fear TFS will be long gone even before an Ombudsman picks it up. So frustrating the delays at FOS, and then TFS waiting until last day to reject Adjudicator decision.
Sandra says
Hi Sara I’ve had This today from amigo
We are proposing two new Schemes of Arrangement (the New Schemes) and want to let you know what this could mean for you.
If you took out a loan with Amigo or stood as a guarantor, you may have a claim for compensation in the New Schemes. This includes if you believe you took out your Amigo loan, or agreed to be a guarantor, without sufficient affordability checks. The Financial Ombudsman Service may also have a claim in the New Schemes. Earlier this year, Amigo proposed a different Scheme, which was not approved by the High Court. Whilst it had received the support required from a creditor vote (creditors include all customers of Amigo who believe they have a valid claim), the Court was not satisfied that the Scheme was fair. As by guidance from the Court, we’re now proposing two New Schemes with different terms, which have been negotiated with an Independent Customers’ Committee. Please read the letter from Amigo about the new schemes, This has important information about the New Schemes, including important dates relevant to the process, and details of our proposals for voting on the Schemes. If you want to object to our proposals for voting arrangements then you can let us know, and you can also attend and speak at the Court hearing early next year. However, you are not required to do anything and if the Court allows us to go ahead then we will contact you with further information
Sara (Debt Camel) says
Hi Sandra, yes, see this article about the new Scheme https://debtcamel.co.uk/amigo-new-scheme-2/. Any questions best asked over on that new page.
louise says
hi sara could you please help me i have won a complaint with fos for a loan with lendfair i have beeb told they are no longer running as a business where does this leave me? any advice would be appreciated
Sara (Debt Camel) says
You need to contact the liquidators asap – email mick.sanders@mhllp.co.uk and angus.gilles@mhllp.co.uk. This appears to be a voluntary liquidation – in this situation there may be money available for creditors but I do not know what is happening here or what stage it has reached.
NICO says
Finally thru my TFS claim. Ombudsman found in my favour. Rebate due in jan. They are pretty helpful…..waiting for the funds, write off and credit file changes. 11months end to end.
C says
Hi Nico,
Thats fab news!
Was that 11 months waiting for the ombusment to review for final decision?
I put my compliant in late October 2020 and still awaiting onbusment decision after adjudicator ruled in favour in April. The wait is just so frustrating. Hopefully I’ll get to that stage soon before they go under.
Margaret says
I’m still waiting for ombudsman. TFS refused as it was over 6 years so taken to ombudsman. Started complaint in March picked up by investigator in August so probably have bit of a wait
Andy says
Mine is with the ombudsman now too rules in favour November, but started complaint January , they probs go under the more decisions go against them so
Fingers crossed we get them to admit responsibility before collapse
Zara says
Hi Sara, I had put a complaint to George Banco in December 21 as I had borrowed £1500 from them a few years ago. I had sent the exact template above but relating to my circumstances.
The end of my letter quote:
I had not received PIP at the time but you did not ask me if I had any extra expenses regarding my health.
I had a gambling problem which you could have seen from my bank statements. (which I did provide)
I am asking you to refund me the interest that I have paid plus 8% statutory interest.
I have had a response today and they have agreed to refund :
You borrowed £1,500; therefore, we are willing to refund anything you have paid over £1,500. Amount paid to date is £2,135.52, so will refund £635.52 plus an additional 8% statutory interest.
Please see below calculations:
Payments made over £1,500: £635.52
Interest @ 8%: £635.52 (This is subject to 20% HMRC tax deduction)
Total Refund*: £273.45
Refund due: £908.97
I have accepted their proposed refund as it seems fair.
My question was in addition should I ask them to remove any adverse entries on my credit file or will this automatically be done?
Sara (Debt Camel) says
So they are clearing your balance and refunding you £908.
If there are any missed / late payments or defaults, yes you should ask for these to be removed.
Zara says
Hi Sara, I don’t owe them any money as I had paid for the loan in full so it’s a refund of £908.00 which they have confirmed they will pay next week.
I have now asked them to remove any adverse entries. Just waiting for their response