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Microcredit Limited

Financial Ombudsman decision DRN5032945 Upheld

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

Treatment in financial difficulty, Charges and fees, Interest and rates

In the Ombudsman’s words

Mr F complains about the way Microcredit Limited treated him after he explained he was in financial difficulties.Treatment in financial difficulty

I do though have rather more concern about the amount of charges Microcredit applied in trying to reclaim money from Mr F’s bank account.Charges and fees

I do though agree with our adjudicator that it would have been reasonable for Microcredit to have frozen interest when it first became aware that Mr F was experiencing financial difficulties.Interest and rates

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN5032945.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.