Oakbrook Finance Limited

Financial Ombudsman decision DRN-4792683 Partly upheld

Partly upheldoutcome, as published by the Ombudsman

—no sum stated

Mon Nov 13deadline 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, Support for vulnerable customers

In the Ombudsman’s words

Mr A complains that OAKBROOK FINANCE LIMITED trading as Likely Loans, (“Oakbrook”), lent to him and did not do proper checks before lending.Irresponsible lending

Oakbrook already had Mr A marked as a vulnerable customer and by 13 November 2023 knew more details which ought, in my view, have precipitated a better outcome for him.Support for vulnerable customers

Rules cited

FCA CONC (Consumer Credit sourcebook), Consumer Credit Act 1974

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-4792683.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.