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Post by shanghaiscouse on Dec 3, 2019 16:08:33 GMT
Can anyone share experience of (i) the result of any complaints made to FC (if you got any response beyond ' we aren't responsible, go away') and (ii) the results of any claims made to Financial Ombudsman.
I am considering complaining that they caused losses to me through their negligence, caused by their rapid expansion of the loan book to the detriment of loan quality, and I am starting to get preliminary legal advice.
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scooter
Member of DD Central
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Post by scooter on Dec 3, 2019 17:18:34 GMT
hi
I haven't actually got as far as a full response from the FOS yet but my suggestions would be:
-when writing to FC keep it specific to one loan/issue and ask for a final response.
-write it always refering to "FC" not "you" so that you can just cut and paste into the FOS online form.
-try to find an angle rather than a generalisation about loan quality:
For example they claim in their blog:
"To assess an application, our Loan Analyst team will collect all the information we need. This includes their full credit report, business bank account data, details on the business shareholders and financial accounts with profit and loss information. They’ll then use our bespoke internal risk models to give a risk grade to each business.
There are hundreds of data points that go into every assessment. Naturally key factors include the financial health of the business, their debt history, and how much they can afford to pay back each month.
Can you find data that proves they let lower quality loans through? Companies house, Administrators reports and Google are all you need, not legal advice.
It's a long process but if it encourages you, I have recently had the remains of a duff loan portfolio bought back off me rather than the Company face the Ombudsman. Not FC though.
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