Firstplus Financial Group Plc

Financial Ombudsman decision DRN4531123 Not upheld

Not upheldoutcome, as published by the Ombudsman

—no sum stated

Tue May 26deadline 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

Interest and rates, Product mis-sold

In the Ombudsman’s words

complain that Firstplus Financial Group Plc sold them an ‘illegal’ loan: they understood it was a second charge loan where the interest rate would go up and down like a mortgage rate.Interest and rates

Mr and Mrs T complain that Firstplus Financial Group Plc sold them an ‘illegal’ loanProduct mis-sold

Rules cited

Consumer Credit Act 1974

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN4531123.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.