APPROVED BY
the Order No IS2015-10/07
of the Director of “NEO Finance”, UAB,
of 29 October 2015

“NEO Finance”, UAB
RULES FOR THE HANDLING OF COMPLAINTS OF CONSUMER CREDIT BORROWERS


1.    GENERAL PROVISIONS

1.1.    Rules for the handling of complaints of consumer credit borrowers (hereinafter – the Rules) regulates the procedure for the handling of complaints of granted or refused to grant consumer credits between the consumer credit lender “NEO Finance”, UAB, and the consumer credit borrower.
1.2.    Complaints of the consumer credit borrower are handled with in accordance with the Republic of Lithuania Law on Consumer Credit (Valstybės Žinios (Official Gazette), 4 January 2011, No 1-1); Rules for handling complaints received by the financial market participants (approved by the Resolution No 03-105 of the Board of the Bank of Lithuania of 6 June 2013), the other legal acts valid in the Republic of Lithuania and documents governing working arrangements for “NEO Finance”, UAB.
1.3.    The meaning of these Rules is deemed that as a peer lending platform operator, "NEO Finance“, UAB, implements obligations of the consumer credit lender in the respect of the consumer credit borrower.

2.    REQUIREMENTS FOR THE COMPLAINT, PROCEDURE FOR THE SUBMISSION OF THE COMPLAINT

2.1.   The consumer credit borrower or a third person (hereinafter – the Applicant), considering that the consumer credit lender has violated his rights or interests protected by law in relation to financial services provided by “NEO Finance”, UAB, shall address the consumer credit lender in writing specifying their request and circumstances of the dispute.
2.2.    The information in the complaint shall be complete, accurate and based on confirming documents. It shall be accompanied by all the documents in relation to the subject matter of the complaint available to the Applicant, if they are needed to resolve the complaint.
2.3.    The complaint must clearly indicate the alleged violation of consumer credit lender and the requirements of the Applicant shall be indicated. 
2.4.    The complaint shall be signed personally by the Applicant or his legal representative indicating the name, personal identification number (to be able to identify the person), residential address, telephone number and e-mail address of the consumer credit borrower. The Applicant is responsible for the accuracy of the personal and contact details indicated in the complaint and agrees that the consumer credit lender will provide all the information related to the complaint handling to the applicant using the contact details provided in the complaint.
2.5.    The complaint may be submitted personally by the Applicant or through a representative whose authorizations are approved under the procedure laid down by the Republic of Lithuania Law. The representative of the Applicant, addressing the request, provides the identity and the representation confirming documents, the complaint shall be accompanied by a power of attorney, confirming the right to represent the Applicant. The complaint shall also indicate the name, address, telephone number of the representative of the Applicant.
2.6.    The complaint may be submitted to an employee of the consumer credit lender in the office of the consumer credit lender, Ulonų g. 5, Vilnius or sent via registered mail to the registered address of the consumer credit lender, Ulonų g. 5, 08240 Vilnius, or sent by e-mail at [email protected] By signing, all the employees of the consumer credit lender are made aware of these guidelines and are authorized to receive complaints in accordance with the following rules.

3.    PROCEDURE FOR THE RECEIPT AND HANDLING OF THE COMPLAINT

3.1.    Each complaint received under the procedure laid down by these rules, are recorded in the register of received complaints. In the register of complaints, data indicated in the Art. 18 of the Rules for handling complaints received by the financial market participants, i.e. the name of the Applicant, address of the Applicant indicated in the complaint, date and the way the complaint was received, the summary of the complaint (short content), services or products of financial market participants complained, their types, date of submission of the replay to the applicant, the final result of the complaint handling, as well as the additional data that the consumer credit borrower deems necessary to record. The employee registered a complaint shall send the complaint to the responsible employee of the consumer credit lender.
3.2.     Only written complaints received, which comply with the requirements provided in paragraphs 2.1 and 2.2 of these Rules, is written in the national language, clean and legible, the person of the applicant is clear, are handled. Complaints and documents that were not contemplated in the national language are not assessed. If the complaint does not provide the information necessary to handle the complaint, but the person of the Applicant is clear, the Paragraph 3.3 of these Rules is applied.
3.3.   In cases, when a complaint submitted does not contain enough information to resolve it, the consumer credit lender has the right to require the Applicant to eliminate shortages of the complaint submitted (to clarify the essence of the complaint or provide additional documents or information needed to assess the complaint and to set a reasonable date for elimination of shortages of the complaint, which cannot be less than 7 calendar days. If the Applicant eliminates shortages on the set deadline, the complaint is considered as submitted properly on the day for the elimination of shortages of the complaint, i.e. on the date for submission of the revised complaint or documents requested. 
3.4.    If the complaint does not meet the requirements of these Rules or, in accordance with the Paragraph 3.3 of these Rules, the Applicant or his representative failed to eliminate shortages of the complaint during the term prescribed by the consumer credit borrower. The consumer credit borrower does not handle the complaint and return it to the Applicant. This does not preclude applying to the consumer credit lender repeatedly after the elimination of shortages.
3.5.    The complaint shall be handled and the replay shall be made as expeditiously as possible but no later than 30 calendar days from the date it receives the complaint. The handling period starts to run from the date of the receipt of the complaint of the consumer credit lender. In exceptional cases, when the complaint cannot be handled within the period specified in this paragraph, the consumer credit lender shall notify the Applicant, provide circumstances of the delay to reply and the deadline by which the complaint will be handled and the replay will be provided to the Applicant.
3.6.     A responsible employee the consumer credit lender, received a complaint, handles it in accordance with valid legal acts and adopts one of the decisions: to meet the requirements, in part to meet the requirements, or to refuse the complaint.
3.7.    A decision on the complaint handled is recorded in the register of complaints and is sent to the person who submitted the complaint via registered mail to the address indicated in the complaint. In cases, when a complaint is submitted by e-mail from an address of the Applicant which is unknown to the consumer credit borrower; when an address of the Applicant which is unknown to the consumer credit borrower or in any other cases, when the consumer credit lender has doubts concerning the identity of the Applicant, protecting personal data of the consumer credit borrower, the consumer credit lender may take additional precautionary measures (for example, send a reply about the complaint handled not to the address indicated in the complaint, but to the other registered address known to the consumer credit lender).The Applicant must additionally be notified about this by phone and e-mail.
3.8.    If the consumer credit lender agrees fully or partially with complaints and requests of the Applicant, the reply to the complaint provided to the Applicant indicates the amount and the way and deadlines proposed by the consumer credit lender to compensate losses incurred by the Applicant as a result of the fault of the consumer credit lender.
3.9.    The consumer credit lender has the right to refuse to handle the complaint:
3.9.1.    If the complaint does not comply with the requirements for the complaint set out in Paragraphs 2 and 3 of these Rules and the requirements of these shortages are not eliminated after the deadline set out to eliminate shortages of the complaint and therefore it is not possible to handle the complaint (for instance, the person of the Applicant is not indicated or the factual basis of the complaint (a violation which was committed) is not indicated;
3.9.2.    If a complaint was made on the activities for which the consumer credit lender is not responsible (for example, applying for other violation committed by the consumer credit lender);
3.9.3.    If applying for the activities of the consumer credit lender, which is not supervised by the Bank of Lithuania (i.e. not on the granting of consumer credits);
3.9.4.     If a decision of the consumer credit provider, a decision of the bank of Lithuania is adopted or a decision of the court, the order, the order on the same subject and on the same basis came into force.
3.10.    All the information in relation to the complaint handled is provided to the Applicant by the consumer credit lender in writing.

4.    FINAL PROVISIONS

4.1.    If the Applicant is not satisfied with the replay of the consumer credit lender, the applicant has the right to appeal to the supervisory authority in accordance to the procedure laid down in Article 29 of the Republic of Lithuania Law on consumer credit. Also, the applicant has the right to defend possibly violated interests by applying to the court in accordance to the procedure laid down by the Republic of Lithuania Law.
4.2.    All the information provided in the complaint of the Applicant, inter alia, personal data is stored by the consumer credit lender in accordance with the procedure laid down by legal acts of the Republic of Lithuania.
4.3.    The consumer credit provider is responsible for the implementation of these Rules, the periodic inspection and assessment of the effectiveness under the procedure laid down by the Rules on handling of complaints received by financial market participants.
4.4.    The consumer credit lender must store the information about the decisions of heads on elimination of shortages determined on the basis of complaints and risk management for no less than three years.
4.5.    These rules come into force on the next working day after their approval by the order and are valid for an unlimited period.
4.6.    These rules are published on the website of the consumer credit lender at www.neofinance.com or www.paskoluklubas.lt/en.

 



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