Why could I receive a Buddy Loans Refund?
There are various reasons why you may be due a refund from a lender. The main reason for a claim is that the loan was unaffordable. These are general signs that the lender did not perform sufficient affordability checks:
The amount borrowed increased loan by loan without reassessing your situation
The loan was extended each month without reassessing your situation
You were struggling to pay essentials (rent, bills, food) because of my repayments
You had to borrow money from another lender to pay back a loan or cover essentials
Your income changed between taking out and repaying the loan but the lender didn’t check
The lender didn’t ask you any questions to confirm that I would be able to repay the loan in a sustainable way
You rolled over your loans
Even if during your application process, you did not mentioned all of your debts or stated your correct regular income. Buddy Loans should have checked your credit record and ensured you had a regular, consistent income before giving you a loan.
If any of the above statements describe your experience with Buddy Loans, you could be eligible to claim compensation. Start your claim below for professionals to guide you through the process.
For Hassle-Free Refunds
A claims specialist
can do all the hard work so you don't need to!
Making a claim is simple. With just a few details you can start your application.
No Win, No Fee
You are only charged after the claim has been won and you have your refund!
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.
Buddy Loans Compensation
If you had or still have a guarantor loan such as those provided by Buddy Loans then you could be due compensation if this loan or any subsequent loans were mis-sold. The Financial Conduct Authority (FCA) has undertaken a review of the selling practices undertaken by the firm which has resulted in a spike in complaints both from borrowers as well as the guarantors.
In their latest numbers, The Financial Ombudsman upheld 77% of complaints against Guarantor Loans