Bounce Back Loan FOS 2020/2021 Complaints and Outcomes Tracker – Total Complaints 1257

If you have any type of Bounce Back Loan complaint you have two options to get that complaint addressed and hopefully rectified, you can complain to the lender, but if they refuse to sort it out you can take your complaint to the Financial Ombudsman Service (FOS).

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Having studied that organisations Annual Complaints Data so far released for 2020/2021 it shows they have received during that time period some 1257 complaints related to BBLs.

The graph below will give you a slightly better overview of the timeline of complaints they have received.

Be aware that the FOS are expecting a deluge of additional BBL related complaints moving forward, once the 6 month repayment holiday and additional 3 x 6 months (18 months in total) of interest only PAYG options are used up by people with BBLs and some of them are unable to repay those loans and the banks then start chasing them.

In fact, the FOS did recently advertise for more staff to concentrate solely on the expected increase in BBL related complaints, you will find more on that story by following the link below:

Financial Ombudsman Service Sound the Alarm Bell and are in a Mad Panic to Employ More Staff to Handle the Expected Avalanche of Additional Bounce Back Loan Scheme Complaints

I have kept track of as many published outcomes from the FOS related to complaints they have received and given a ruling on, and you can find that information on the link below: