The General Complaints Board (ARN) you have probably heard of, but can you really turn there if you have taken a sms loan or some other credit and ended up in a dispute? Yes, you can, in fact, even if it is not so common.
It is very rare cases of sms loans to end up on ARN’s table, but we will still show you what opportunities you have to resolve a consumer dispute because of loans and other credit disputes with the General Complaints Board. Of course, we will also show you how to proceed, step by step.
What is the General Complaints Board?
The General Complaints Board is a government agency that helps consumers who are in dispute with a company from which they have purchased a product or service. It does not cost anything to turn to ARN and it is therefore often a better choice than to go to a court that costs money.
Most companies follow the recommendations ARN makes, even though the recommendations are not mandatory as a court decision is.
It usually takes about 6 months for a case with the General Complaints Board to be tried.
Can I advertise sms loans?
However, ARN does not consider all types of consumer disputes and what exceptions apply in its entirety, you can read more about here on the General Complaints Board website website. However, disputes with banks and other credit companies are not covered by the exceptions, but it is entirely possible to contact ARN if you are in a dispute with a credit company, unless the following requirements are met:
- The amount you have borrowed must be at least USD 2000.
- You must first have complained to the credit company and received a no.
- The application must have been received by ARN within one year from the time you attempted to advertise the sms loan with the credit company.
- Your sms loan may not have ended up at Good Finance. On ARN’s website it says that they do not try “disputes that are settled or settled by a court, the Crown Prosecutor’s Office or a rent and lease committee.”
- The loan must be for private use.
- You can only contact the General Complaints Board if you have borrowed money from a Swedish credit company. If it is a foreign company in the EU that does not have a branch in Sweden, you must turn to ODR (Online Dispute Resolution) instead, it is the European Commission’s website. If the company is established in another Nordic country, you can also contact the country’s counterpart to ARN, links to these counterparts can be found here . However, it is best to first contact Consumer Europe who can advise on where to turn in case of a conflict with a company in another EU country.
Here’s how it goes – step by step
Okay, suppose you think you’ve been scammed by a credit company that offers sms or similar, then you should do the following:
- Contact the credit company and explain why you feel cheated and want to claim the loan.
- If the credit company does not agree to your requirements, it is time to contact ARN, but first you should find out that your application meets all the requirements we mentioned above.
- Make your application if it meets all requirements. You can see what the notification should contain here on ARN’s website and there are also links that direct you to their online registration, choose the link that applies to banks.
- Fill in your application and send it away.
- Within 6 months, the General Complaints Board will look at your complaint to see if it meets all requirements, and if there is no action, they will contact you about it. They also assess whether your case is worth a try. About 25% of all cases that end up on ARN’s table are rejected.
- If everything looks okay, they will contact the credit company and request an opinion on the application. You also get to see the opinion. Matters are also usually taken up at committee meetings led by a lawyer (who acts as judge) and the members consist of representatives from consumer and business organizations.
- You get a decision whether you got it right or not. Approximately 70% of all recommendations from ARN are followed by the companies, but within the banking and insurance system, the recommendations of the General Complaints Board are almost always followed. This is probably because they nurture their brands in a highly competitive industry, they do not want to end up on any black lists. The odds of getting through his report are thus very good, unless ARN considers it a worthwhile matter to raise.
- If you do not get it right you can request a reconsideration but only if you think the decision is obviously wrong or if new circumstances have emerged that can affect the decision. In such cases, the request for reconsideration must be submitted to ARN within two months, otherwise you will have to apply to the district court but it costs money.
It is, as I said, very rare that cases due to sms loans end up at ARN, but it has happened after all. One woman reported six sms companies that granted sms loans to her 19-year-old son even though he was studying and had no steady income. Five of the credit companies then chose to cease their claims against withdrawal of the notification. Obviously, notifying ARN is quite powerful and can solve your problems faster than you thought, ARN may not even be able to handle the case.