Buddy Loans (Advancis Ltd) offered guarantor loans.
Claims against Buddy Loans have closed. It went into administration on 7 September 2021. Balances on eligible loans were reduced automatically, but unsecured creditors were told not to expect a payment, and the company has since been dissolved. New claims aren’t possible.
What you can still do
- Check your other lenders. Most people who used Buddy Loans also borrowed elsewhere, and many of those lenders still trade. See which lenders we check.
- Check your credit file. If old accounts show wrongly (for example as unpaid when they were settled or written off), you can ask for them to be corrected. See how to get your credit report for free.
- If your loan was sold to a debt purchaser, you can still complain to them about how they’re collecting it.
Read more about what happens when a lender goes bust.
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Questions people ask
Can I still claim against Buddy Loans?
No, not in the normal way. New claims aren’t possible.
I never heard about the scheme or administration. Can I claim late?
Usually not. Once a claims deadline has passed, late claims aren’t accepted, even if you didn’t know about it.