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MONEYBARN NO.1 LIMITED

Financial Ombudsman decision DRN-2662405 Upheld

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, Credit file reporting

In the Ombudsman’s words

Mr F complains that Moneybarn No. 1 Limited (“Moneybarn”) shouldn’t have agreed to lend to him under a conditional sale agreement (“agreement”). He says the agreement was unaffordable.Irresponsible lending

As I’ve concluded that Mr F shouldn’t have been given the borrowing, it isn’t fair for him to have any adverse information recorded on his credit file about this debt. Therefore, Moneybarn should arrange to remove any adverse data it may have registered with credit reference agencies in respect of the agreement.Credit file reporting

Rules cited

FCA CONC (Consumer Credit sourcebook)

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-2662405.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.