Metro Bank PLC

Financial Ombudsman decision DRN-4662058 Not upheld

Not upheldoutcome, as published by the Ombudsman

—no sum stated

Mon Apr 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, Treatment in financial difficulty

In the Ombudsman’s words

Miss S has complained about a personal loan Metro Bank PLC (trading as “Ratesetter”) which she says was unfairly lent to her. She says the loan was unaffordable.Irresponsible lending

Ratesetter has acknowledged this. It has confirmed that no interest has been added since then and Miss S’ debt has in effect been crystalised since July 2023. So Ratesetter has responded to Miss S’ inability to make her payments by stopping further interest being added to her balance. I’m satisfied this was a proportionate measure in response to Miss S’ circumstances and it follows that I’m satisfied that it did exercise forbearance and due consideration in a fair and reasonable way.Treatment in financial difficulty

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-4662058.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.