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MEM Consumer Finance Limited

Financial Ombudsman decision DRN2031023 Upheld

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

Mrs C complains that MEM Consumer Finance Limited, trading as Payday UK, shouldn’t have lent her money. She says she couldn’t afford the loans it gave her and they caused her to get into a spiral of debt.Irresponsible lending

I find it should also pay interest on the refund where appropriate, and remove these loans from Mrs C’s credit file, because it should never have agreed them in the first place.Credit file reporting

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN2031023.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.