Customers who believe that they were mis-sold an Bamboo loan will be able to claim any interest paid plus an additional 8% compensatory interest . This is only on the basis that the individual struggled to pay back or had to use top-ups or subsequent loans to pay off their loan.
This follows the recent surge in claims for payday loans from the likes of Wonga, refunds which have seen millions of pounds reclaimed by previous customers. Under strict direction of the FCA, guarantor lenders must be willing to refund the customer all interest paid plus 8% interest – provided that they can prove the loan was mis-sold.
Working with our partners at Allegiant Finance Services, we will package up your compensation claim and send this to Bamboo Loans – Lenders are required to respond within 8 weeks (or sooner).