Instant Cash Loans Limited

Financial Ombudsman decision DRN4005752 Partly upheld

Partly upheldoutcome, as published by the Ombudsman

—no sum stated

Fri Sep 02deadline 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

I think it didn’t carry out further checks of the affordability of the loans, as it should have done. It would then have declined to make him further loans. So I think it lent irresponsibly from the fifth loan.Irresponsible lending

I also agree that it should refund him the interest and charges he paid on these last four loans, with interest. ... I require Instant Cash Loans Limited (trading as Payday UK) to do the following: ... 2. Remove record of these loans from Mr H’s credit file.Credit file reporting

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN4005752.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.