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Financial Ombudsman decision DRN-5250013 Upheld

Upheldoutcome, as published by the Ombudsman

£11,400redress stated in the decision

Mon Apr 28deadline 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, Credit file reporting

In the Ombudsman’s words

irresponsibly entered into a personal contract purchase (PCP) agreement because it didn’t carry out reasonable and proportionate checks to ensure the lending was affordable and sustainable for himIrresponsible lending

Remove any adverse information recorded on Mr M’s credit file regarding the agreementCredit file reporting

Rules cited

FCA CONC (Consumer Credit sourcebook), FCA DISP (Dispute Resolution), Consumer Credit Act 1974, Financial Services and Markets Act 2000

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-5250013.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.