Nemo Personal Finance Limited

Financial Ombudsman decision DRN0924053 Not upheld

Not upheldoutcome, as published by the Ombudsman

—no sum stated

Mon Mar 26deadline 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

Charges and fees, Interest and rates

In the Ombudsman’s words

Nemo set out a list of fees applied to Mr A’s account, which includes fees for missed payments and legal costs related to the possession proceedings.Charges and fees

Nemo is entitled to apply interest to the outstanding balance. The arrears increased the outstanding balance. So the amount of interest applied to the loan account was more than it would have been if it hadn’t been in arrears.Interest and rates

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN0924053.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.