NewDay Ltd

Financial Ombudsman decision DRN-2497750 Upheld

Upheldoutcome, as published by the Ombudsman

£450redress stated in the decision

Mon Feb 08deadline to accept (not the decision date)

The Ombudsman does not print a decision date. The date above is the deadline the consumer was given to accept or reject the decision, which is set about a month after it was issued. It is reliable to the year, not to the month.

What this decision was about

Irresponsible lending, Interest and rates

In the Ombudsman’s words

Mr N complains that NewDay Ltd (trading as Aqua) increased his credit card limit several times - beyond what he could afford to repay.Irresponsible lending

Mr N also complains that Aqua made matters worse by increasing his interest rate.Interest and rates

Rules cited

FCA CONC (Consumer Credit sourcebook)

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-2497750.pdf on financial-ombudsman.org.uk.

The outcome shown is the Ombudsman’s own published classification, not our reading of the text. Nothing here is legal advice, and a decision concerns only the complaint it was made about.