Objections

If a borrower wishes to object to the details of a loan advance made or charged to them, as set out in a notification they receive, they must write to the Loan Manager.

A borrower may only object if they reasonably believe those details are incorrect.

Any objection must:

• state the reasons for the objection
• include a copy of the notification given to the borrower
• be received by the Loan Manager within 31 days of the date of the notification

Note the Loan Manager may extend the time within which the objection must be received if it would be reasonable to do so.

The Loan Manager will then consider any objections, and as soon as is practicable, write to the borrower and advise them of their decision.

The Loan Manager must also advise Inland Revenue of any decisions made in respect of an objection.

If an objection is not wholly allowed by the Loan Manager, the borrower may require that the objection be determined by MSD.

The borrower has 21 days from the date the Loan Manager notifies them of the decision, to formally notify MSD.

Note MSD may extend the time within which the borrower must notify MSD, if it would be reasonable to do so.

MSD will then consider any objections, and as soon as is practicable, write to the borrower and the Loan Manager and advise them of their decision, and the reason(s) for it.

The Loan Manager must advise Inland Revenue of any decision(s) made by MSD.

If an objection is not wholly allowed by the Chief Executive, the borrower may apply to the Disputes Tribunal for a determination of the dispute if the amount in dispute is within the financial jurisdiction of the Disputes Tribunal.

Alternatively, the borrower may apply to the District Court for a determination of the dispute.

The borrower has 30 days from the date the Chief Executive notified them of their decision to make an application.

Note a Referee of a Disputes Tribunal or a District Court Judge may extend the time within which the borrower must make an application, if it would be reasonable to do so.

The Loan Manager must then advise Inland Revenue of any decision(s) made by the Disputes Tribunal or the District Court.