Complaints Policy

Asset Backed Loans Ltd t/a as PawnYourCar.co.uk

1. Our Commitment

We are committed to providing a high standard of service to all our customers. However, if you are dissatisfied with any aspect of our service, we take complaints seriously and aim to resolve them fairly, promptly, and transparently.

2. What is a Complaint?

A complaint is any expression of dissatisfaction, whether justified or not, relating to our products, services, or customer service.

3. How to Make a Complaint

You can contact us using any of the following methods:

Email: info@assetbackedloans.co.uk
Post: 20 Wenlock Road, London, N1 7GU

All complaints will be recorded in our internal complaints log.

4. Our Complaints Process

Acknowledgement

We will acknowledge your complaint in writing within 3 business days of receipt.

Investigation

Your complaint will be fully reviewed and investigated. We aim to resolve complaints as quickly as possible and to your satisfaction.

Final Response

We aim to issue a Final Response within 8 weeks of receiving your complaint. This response will:

Clearly explain our decision
Outline the outcome of our investigation
Include any offer of compensation or remedial action (if applicable)

5. If We Need More Time

If we are unable to resolve your complaint within 8 weeks, we will:

Inform you of the delay
Provide an update on progress
Explain when you can expect a final response

6. Regulatory Status and Escalation

Our lending products are not regulated by the Financial Conduct Authority.

As such, complaints relating to these products are not eligible for referral to the Financial Ombudsman Service.

If you are not satisfied with our final response, you may wish to seek independent advice or pursue your complaint through the appropriate legal channels.

7. When a Complaint is Closed

A complaint will be considered closed when:

You confirm you are satisfied with the outcome; or
We have issued our final response and no further communication has been received within a reasonable period

8. Record Keeping

All complaints are logged and monitored internally
Records are retained for 6 years from the date of resolution

9. Our Approach

We:

Treat all complaints seriously
Conduct fair and impartial investigations
Aim to resolve issues quickly and effectively
Use feedback to improve our services

Representative Example:

If you borrow £100,000.00 over 6 months at a flat rate of 60% per annum (fixed), with a Representative 69.0% APR, you will make one repayment of £130,000.00. The total amount repayable will be £130,000.00, including £30,000.00 interest. The maximum APR is 93.2%.

During the term of the agreement, your asset is pledged to Asset Backed Loans Limited t/a PawnYourCar.co.uk as security.

⚠️ YOUR LOAN IS SECURED AGAINST YOUR ASSET. FAILURE TO REPAY UNDER THE TERMS OF THE AGREEMENT MAY RESULT IN YOUR ASSET BEING SOLD.