Gain Credit LLC

Financial Ombudsman decision DRN-3618454 Partly upheld

Partly upheldoutcome, as published by the Ombudsman

—no sum stated

Tue Mar 21deadline 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, Treatment in financial difficulty

In the Ombudsman’s words

Mrs M, through her representative, complains that Gain Credit LLC, trading as Drafty, lent to her, and increased her credit limits, when she could not afford it.Irresponsible lending

from 23 November 2019 Drafty ought to have stopped Mrs M from using the facility, ceased adding interest and ought to have treated her with forbearance to allow her to repay the whole debt.Treatment in financial difficulty

Rules cited

FCA CONC (Consumer Credit sourcebook)

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-3618454.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.