MONEYBARN NO.1 LIMITED

Financial Ombudsman decision DRN1523047 Upheld

Upheldoutcome, as published by the Ombudsman

£250redress stated in the decision

Mon Apr 27deadline 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 A has complained that Moneybarn No. 1 Limited (“Moneybarn”) unfairly entered into a conditional sale car finance agreement with him when it ought reasonably to have realised that the payments were unaffordable.Irresponsible lending

remove all reference to this conditional sale agreement from Mr A’s credit file;Credit file reporting

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: DRN1523047.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.