New Wave Capital Limited

Financial Ombudsman decision DRN-5502842 Not upheld

Not upheldoutcome, as published by the Ombudsman

—no sum stated

Thu May 22deadline 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

CoT should not have lent to it and should not have increased its limit many times, as the lending wasn’t affordable.Irresponsible lending

A limited company, which I’ll refer to as C, complains that New Wave Capital Limited trading as Capital on Tap (“CoT”) offered no support when C got into difficulties.Treatment in financial difficulty

Rules cited

CRM Code (APP scam reimbursement)

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-5502842.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.