What will happen next?
We aim to resolve all complaints as quickly as possible. However, if we need to carry out internal investigations it may take us a little longer to respond to you. If we have not resolved your complaint within three working days, then we will:
- Send you an email or letter acknowledging receipt of your complaint within five working days of receiving it, enclosing a copy of this procedure.
- Investigate your complaint. Depending on the nature of the complaint, this may involve listening to call recordings, reviewing credit reports or speaking to other departments within the business.
In the event we have not responded to you further within four weeks, we will write to inform you that our investigations are still ongoing.
You can expect a written Final Response within eight weeks of us receiving your complaint. A Final Response is where we:
- Believe that we have fully addressed your complaint.
- Have notified you that you may refer the complaint to the Financial Ombudsman Service (FOS) if you remain dissatisfied with our final response and that you must do so within six months from that date.
- Have enclosed the FOS explanatory leaflet or provided you with a link where you can find this information on the FOS website.
If after eight weeks we are still not in a position to provide our Final Response, we will write to you and give you reasons for the delay and an indication of when we can provide our Final Response. At this time we will also provide details of the FOS should you wish to contact them regarding your complaint.
If you are still not satisfied once you have received your Final Response, you can then contact FOS, about your complaint. Normally, you will need to bring a complaint to FOS within six months of receiving a final written response from us about your complaint or within six years of the event about which you are complaining occurring (or three years after you became aware of it). For further information, you should contact the FOS on 0800 023 4567 or at http://www.financial-ombudsman.org.uk or you can write to them at:
Financial Ombudsman Service, Exchange Tower, London, E14 9SR
The FOS leaflet “how to make a complaint” is also available online at: http://www.financial-ombudsman.org.uk/publications/consumer-leaflet.htm
We are a member of the Finance & Leasing Association (the “FLA”) and we follow the FLA Lending Code. Further information on the FLA can be found here.
We only run a hard credit search once your application has been approved and you have e-signed your loan agreement.
Once a hard search is run on your credit file, this will be visible to other lenders and may affect your credit score.
If you want to see your credit report, you can contact any of the below credit reference agencies for a copy of your credit file:
TransUnion Website: www.transunion.co.uk
Experian Website: www.experian.co.uk
Equifax Website: www.equifax.co.uk
Unfortunately, we are unable to disclose why we have declined your loan application.
We make our decision using the information you provided, including any supporting documents that you may have been asked to provide, together with information from other third-party sources, including the credit reference agencies TransUnion and Experian.
Being declined for a loan from Bamboo will not affect your credit file as we only run a hard search on you once your application has been approved and you have e-signed the loan agreement.
If you would like to have a look at your credit report, you can request a copy from TransUnion or Experian. If you spot any inaccuracies, you can request them to update it.
We release loan funds twice a day (excluding Bank Holidays and weekends). For most of our applications, if an agreement is signed before 3pm on a weekday then funds should be paid to the bank account you have provided us before midnight that day.
If signed after 3pm or on a weekend/bank holiday funds should be in the bank account, you have provided to us by 1pm the next weekday.
For some applications this process may take just a little longer, and please note that Bamboo reserves the right on occasions to delay paying out a loan on the same day.
Should you have a query outside of the given opening hours then our Frequently Asked Questions (FAQ) page may provide more immediate answers to our most common queries.