Why could I receive a Bamboo Loan Refund?
Was the loan affordable to you before Bamboo granted your application for a loan?
Bamboo may have not conducted the correct affordability checks
Whenever you topped up an existing loan, your lender should have ensured to run another set of checks concerning whether this was affordable. Had you missed any previous loan repayments? Had your finances deteriorated since your first loan? If so, the lender should have addressed the fact that their current loan could be unaffordable and as a result, capped any more lending
During your application process, you may have not mentioned all of your debts. If this didn’t match with your credit record, Bamboo should have ensured to double check this
You may have underestimated your monthly outgoings when you took out the loan, due to estimations or eagerness to be eligible for your loan due to the circumstances you were in, causing you not to be able to afford the monthly repayments. If your monthly outgoings were too low, Bamboo should have explored whether these were correct or not
When you applied for the loan, you may have not stated your correct regular income, due to be self-employed or your job history changing during this time. Bamboo should have looked at this and ensured you had a regular, consistent income before giving you a loan
If any of the above statements describe your experience with Bamboo and left you unable to pay the loan, you could be eligible to claim compensation. Start your claim below for professionals to guide you through the process.
You do not need to use a claims management company to make your complaint to your lender. If your complaint is not successful you can refer it to the Financial Ombudsman Service yourself for free.
As with all lenders, Bamboo should have carried out the correct checks before issuing a loan. If you found yourself unable to pay back the loan, you may be eligible for a loan refund.
Recently unfair practices that have been identified by the Financial Conduct Authority (FCA) has resulted in huge fines being imposed on many of the top lenders. If Bamboo has not carried out the correct checks and loaned responsible, you could be entitled to a refund, even if you have paid off the loan.
What Information Do I Need to Provide?
We just need is the name of your lender and your personal details including the address that you lived at when registering with them. Once we have these we can obtain details of any loans where a refund may be due.
How much do you charge?
We work on a no win no fee basis. We charge 36% (30% + VAT) on any successful claims of the total refund received from your lender. If you cancel our service without our agreement after 14 days and after we submit your claim you will be liable to pay our full success fee should your claim be successful.
How Do I Submit My Claim?
Simply complete our online application form by clicking on the "Start A Claim" button. This is the first stage of your complaint to the lender where you could receive compensation.