TFS Loans Limited
Financial Ombudsman decision DRN0956692 Upheld
Upheldoutcome, as published by the Ombudsman
£250redress stated in the decision
Wed Oct 16deadline 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
TFS was irresponsible when it accepted him as the guarantor because it didn’t adequately check he’d be able to afford to repay the loan if the borrower failed to repay it.Irresponsible lending
remove any information about this loan from Mr F’s credit fileCredit file reporting
Rules cited
FCA CONC (Consumer Credit sourcebook)
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN0956692.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.