Bamboo Loans Compensation

We are working with Clear Legal Marketing Ltd to help people claim compensation from Bamboo Loans and to help the large number of people who could be owed compensation. 

  • Did you take out a guarantor loan from Bamboo that you could not afford?

  • Get an average compensation of £4,600**

  • Top-ups and additional loans most likely to be approved for refunds


94% FOS Uphold Rate*

Bamboo Compensation, What’s it all about?


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 and Amigo refunds which has 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 Clear Legal Marketing Ltd, we will package up your compensation claim and send this to Bamboo Loans – Lenders are required to respond within 8 weeks (or sooner).

Bamboo loans was founded in 2014 

If you have taken out an Bamboo guarantor loan and one or several of the following statements below applies to you, you may be entitled to Bamboo compensation.

Mis-sold a Bamboo Loan?


If you believe that you were mis-sold an Bamboo loan, you now have the opportunity to request a refund.


  • Whilst you may have really needed the loan at the time, you may have found yourself in a worse financial position as a result and the loan should not have been granted in the first place.


  • If you already had a loan with Bamboo and needed to borrow extra money, you may have been given extensions or top-ups, without adequate checks, only to put you under more financial pressure.

Why Could I Be Given an Bamboo Loan Refund?

During your application process, you may not have mentioned all of your debts and If this didn’t match with your credit record, the lender should have ensured to reaffirm this.
It is possible that you underestimated your monthly expenditure due to guesswork or eagerness to be eligible for your loan, and in such circumstances, if your figures appeared too low, your lender should have explored their reliability further.
At the time of your application did you have a regular income? If you were self-employed during this period or even had overtime that fluctuated, the lender should have looked at this.
Did you have evidence of recent applications for credit or previous problems on your credit record? Guarantor loans are specifically targeted at those with bad credit scores, however, the lender should have been conscious of whether your situation appeared to be worsening.
Whenever you topped up an existing loan, your lender should have ensured to run another set of checks concerning whether this was affordable. Had you missed any previous loan repayments? Had your finances deteriorated since your first loan? If so, the lender should have addressed the fact that their current loan could be unaffordable and as a result, capped any more lending.
The firm may only have carried out a brief affordability check on you because of your guarantors circumstances. Regardless of your guarantor’s financial status, the loan needed to reflect your personal repayment potential.

An Overview of Guarantor Refunds & Complaints


The first thing to consider when reviewing the eligibility for a guarantor loan complaint is whether a loan was affordable before given to you. 

In short, the appropriate definition of affordability is whether or not after repaying it in installments, on time, you have money left over to pay your bills to avoid further lending.

To summarise, if you had to borrow more money or became behind with bills as a result of your guarantor loan repayments, you have grounds to make an affordability complaint. This route is available regardless of whether you are still paying the loan, have stopped paying the loan and are relying on your guarantor or even if the loan has been repaid.  

If your affordability complaint is successful there are two potential outcomes. Should you still owe money, your interest is removed and you simply repay back what you borrowed. If your loan has now been repaid you will receive a refund of the interest in addition to 8% of the amount of your statutory interest.

We work on a no win no fee basis. We charge 36% (30% + VAT) on any successful claims of the total refund received from your lender If you cancel our service without our agreement after 14 days and after we submit your claim you will be liable to pay our full success fee should your claim be successful. You do not need to use our services to make a claim against your lender(s). It’s free to claim compensation from financial companies if you have lost money from a mis-sold financial product. You can do this yourself directly with the lender(s) and even if they reject your claim you can still take this to the Financial Ombudsman Service If you aren’t sure how to make the claim, you can get free, impartial advice from consumer organisations.

*FOS uphold 94% of claims based on Amigo claims –

**Data from refunds against Amigo Loans received by Clear Legal Marketing Limited’s clients up to 17th July 2020.

Forces Compare has partnered with Clear Legal Marketing Limited to offer its clients the opportunity to reclaim compensation for mis-sold guarantor loans.  Clear Legal Marketing Limited is a Claims Management Company, (registered number 07933243) Ltd whose registered address is Unit 115-119 Timber Wharf, 42-50 Worsley Street, Manchester M15 4LD and who are Regulated by the Financial Conduct Authority. Its registration is recorded on the website Reg No: 833090, Registered with the Information Commissioners Office. Reg No: Z3370717 All calls to Clear Legal Marketing Ltd are recorded in line with the FCA requirements