Within the realm of banking and credit-related issues, the FOS has confirmed that a large number of complaints focus on the alleged unfairness of a lender’s decision not to provide funds, or the provision of funds when it wasn’t apparent the customer could not afford the loan.
According to the organisation, these two issues underpin the complaints of both personal complaints, in addition to those from small to medium-sized enterprises.
“If you’re unhappy with a financial product or service, get in touch with the business you think is responsible – and tell them about the problem,” the group said.
“It’s usually best to put your complaint in writing. If you phone, ask for the name of the person you speak to,” it added.
Lenders should consider a number of points when evaluating complaints, including the trust placed on lenders by customers who are known to be financially vulnerable.
Lenders are advised that any withdraws of running-credit should be done in a fair manner while the customer is making use of the facilities.