Oakbrook Finance Limited

Financial Ombudsman decision DRN1869044 Not upheld

Not upheldoutcome, as published by the Ombudsman

£269redress stated in the decision

Thu Mar 05deadline 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, Treatment in financial difficulty

In the Ombudsman’s words

Mr M complains that Oakbrook Finance Limited, trading as Likely Loans, didn’t properly check whether its loans to him were affordable – and that it shouldn’t have made the loans to him.Irresponsible lending

A lender is required to respond to a borrower’s financial difficulties positively and sympathetically. Likely Loans has accepted reduced repayments from Mr M and I consider that it has responded positively and sympathetically to his financial difficulties.Treatment in financial difficulty

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN1869044.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.