Gain Credit LLC

Financial Ombudsman decision DRN-6137511 Not upheld

Not upheldoutcome, as published by the Ombudsman

—no sum stated

Mon Mar 09deadline 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 K complains that Gain Credit LLC trading as Lending Stream (“Lending Stream”) gave him loans without carrying out sufficient affordability checks.Irresponsible lending

At the time Mr K had mental health trouble – he’s provided more details in response to the assessment, but I won’t repeat them all here. But he does say that his emotional state impacted his decision making and he should’ve been treated differently under CONC 2.10.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-6137511.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.