MONEYBARN NO.1 LIMITED

Financial Ombudsman decision DRN5001947 Upheld

Upheldoutcome, as published by the Ombudsman

—no sum stated

Thu Nov 05deadline 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, Interest and rates

In the Ombudsman’s words

I consider beginning the loan afresh with the rate of 26% would allow both parties to reach an equitable income.Irresponsible lending

Mr S complains that Moneybarn No. 1 Limited charged him a higher interest rate than he had agreedInterest and rates

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN5001947.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.