Novaloans Ltd.

Financial Ombudsman decision DRN-3934051 Not upheld

Not upheldoutcome, as published by the Ombudsman

—no sum stated

Fri Nov 15deadline 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 B complains that Novaloans Ltd, trading as cash4unow, lent to her when she could not afford it.Irresponsible lending

I thought that was something it ought to compensate Mrs B for. I was planning to award Mrs B £250... I had asked for and had received a lot of information from Novaloans relating to emails and calls and account notes which I pieced together... failed to set up the repayment plan arrangementTreatment 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-3934051.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.