Novaloans Ltd.

Financial Ombudsman decision DRN4743360 Partly upheld

Partly upheldoutcome, as published by the Ombudsman

—no sum stated

Sun Apr 07deadline 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

In the Ombudsman’s words

Mr D complains that Novaloans Ltd (trading as Cash4unow) didn’t carry out proper affordability checks and shouldn’t have agreed to lend him 6 loans as he couldn’t pay them back.Irresponsible lending

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN4743360.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.