Bamboo Irresponsible Lending Refunds

Bamboo Loans refund success. You may be able to reclaim interest on your Bamboo loan. Start your claim for irresponsible lending by Bamboo Loans Today!

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Bamboo Loans Refund Success

Bamboo is a direct lender, based in the UK and lending to around 20,000 people each year. It offers two main types of loans: unsecured personal loans, for borrowers who want to borrow up to £5,000; and guarantor loans, for borrowers who have a poor credit score or who need larger sums. Bamboo offer loans up to £8000, for term lengths between 1-5 years.

Irresponsible lending by Bamboo Loans

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, including Wonga who were fined £220 million.

If your Bamboo (the lender) has not carried out the correct checks and loaned responsible, you could be entitled to claim a refund, even if you have paid off the loan. The Reclaim Experts can help you receive what you are owed form Bamboo Loans.

What type of loans do Bamboo offer?
– Unsecured Loans
– Guarantor Loans

Bamboo Eligibility Requirements for Borrower:
Minimum age of 18 and be able to afford the monthly payments. Not bankrupt.

Bamboo Eligibility Requirements for Guarantor:
Minimum age of 21, a UK Resident and must not already have a Bamboo loan or be a Bamboo guarantor for someone else.
Must be able to make the repayments if the borrower does not pay.

Bamboo Loan Example:
Representative example: Borrow £3,000.00 over 3 years at a rate of 49.7% p.a. (fixed).
Representative APR 49.7% and total payable £5,261.04 in monthly repayments of £146.14.

Bamboo is registered at the following address:
Bamboo, 1st Floor, Grenville House, Nelson Gate, Southampton, SO15 1GX.
Telephone Number: 0330 1596011

Why could I receive a Bamboo Refund?

  • Was the loan affordable to you before Bamboo Loans granted your application for a loan?
    Bamboo may have not conducted the correct affordability checks.
  • Did your loan have excessive charges combined onto it, such as high interest and charges?
    The FCA have introduced a price cap to protect borrowers from excessive charges.
  • 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 apply to your experience with Bamboo, you could be eligible to claim compensation. Start your claim or get in touch with the experienced Retail Experts team who will guide you through the process.
We are here to help.

 

Start My Claim against Bamboo Loans Today!