Instant Cash Loans Limited

Financial Ombudsman decision DRN4562953 Upheld

Upheldoutcome, as published by the Ombudsman

£600redress stated in the decision

Mon Jan 09deadline 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 can see that in the earlier part of 2013 Mr K had a very limited income... All of this leads me to conclude that if The Money Shop had done adequate checks it would’ve seen that the loans Mr K took in 2013 weren’t affordable for him.Irresponsible lending

remove any adverse entries relating to these loans from Mr K’s credit file.Credit file reporting

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN4562953.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.