Review - 14 June 2016

Key Issues: Varying loan agreement | Retrospective financial hardship | Company loan | Loan servicer

Summary of the outcome:

We found that the consumers’ claims against the FSP had not been established, namely that the FSP was not required to vary the loan terms and that the FSP had provided financial hardship assistance. Furthermore, we found that the offer made by the FSP for an stress and inconvenience suffered by the consumer was reasonable.

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This Review was referred to the Ombudsman for a Determination.