George Banco Compensation
George Banco has “one of the fastest loan applications, with an immediate decision and same day payout” and all online.
George Banco rose prominence as a guarantor loan lender and on 17 August 2017 was acquired by a fellow sub-prime lender Non-Standard Finance PLC for £53.5m.
Whilst it is quick to offer UK consumers to borrow from £1,000 to £15,000 over 1-5 years, George Banco may have lent your money without conducting the correct affordability checks which form part of the FCA’s requirements to the entire Guarantor Loan Market in Britain, which has come under the spotlight in recent months and not in a positive way.
In their latest numbers, The Financial Ombudsman upheld 77% of complaints against Guarantor Loans
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.
Why could I receive a George Banco Loan 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. George Banco 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 a George Banco loan, you could be eligible to claim compensation. Start your claim below for professionals to guide you through the process.