MotoNovo Finance Limited

Financial Ombudsman decision DRN-5808049 Upheld

Upheldoutcome, as published by the Ombudsman

£16,999redress stated in the decision

Tue Jan 06deadline 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

Mr M complains that a hire purchase agreement with FirstRand Bank Limited, trading as Motonovo Finance, under which a car was supplied to him, was unaffordable for him.Irresponsible lending

I also find that Motonovo Finance should ensure that any adverse information about the hire purchase agreement that it’s reported to the credit reference agencies is removed from Mr M’s credit file.Credit file reporting

Rules cited

Consumer Credit Act 1974

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-5808049.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.