UK Credit Refunds
Lending Stream Refunds
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One of the areas we specialise in is Guarantor Loan refunds. We know that some of the guarantor loan lenders appear to be working on the basis that they do not have to worry too much about whether the borrower can afford the repayments as the have someone else who will pay if the borrower stops paying the instalments.
It might seem that an interest rate of around 50% APR may be good when compared to payday lenders, but it is still a very expensive loan. With most Guarantor Loan lenders, the customer can borrow up to £10,000 at around 50% interest for each year they have the loan. It starts to get really expensive really quickly.
Repayments can be really high and as firms like Amigo allow the loan to be topped up the payments can go on for many years. An initial 5-year loan can easily become a 10-year loan just by topping the loan up or reborrowing before the loan is paid off.
Amigo Loans controls around 80% of the UK Guarantor loan market, so it is not surprising that we get a lot of customers coming to us wanting to make a refund claim against them.
Amigo will automatically time bar loans that are over 6 years old and they will not discuss or consider us making an Amigo Loan refund claim for these old loans. However, we are still prepared to take on these cases and ask the FOS to investigate them. So if you have old Amigo Loans and would like to make a refund claim please start the process.
Lending Stream is a difficult lender to communicate with. While they have email addresses for complaints on the FCA website and they have a complaints@ email address, they will not respond to any email sent to that address. But if a complaint is raised with the FOS, Lending Stream will respond and communicate using that email address.
This does make a complaint slightly protracted, but the end result is the same.
The application is simple, we just need a few personal details and the names of the lenders who you had the loans with and away we go. We move as quickly as possible to get the claim started. Follow this link to see how it works
Yes, you can make a claim directly to the lender free of charge.
You do not need to use a Claims Management Company, but we are here if you want to use one.
If you are not satisfied with the decision the lender makes regarding your complaint, you may ask for an independent review by the Financial Ombudsman Service. You have the right to refer your complaint to the Financial Ombudsman Service, free of charge - but you must do so within six months of the date of the lender final decision letter.
For more information on the Financial Ombudsman Service, please follow this link