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Financial Ombudsman decision DRN2707077 Not 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

Treatment in financial difficulty, Charges and fees

In the Ombudsman’s words

The arrears have accrued further interest. The business has called her every month to discuss the upcoming repayment.Treatment in financial difficulty

But the interest rate of 28%, plus interest on the arrears and other charges for missed payments, mean that the balance outstanding is still more than the original loan.Charges and fees

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN2707077.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.