Novaloans Ltd.

Financial Ombudsman decision DRN7666180 Partly upheld

Partly upheldoutcome, as published by the Ombudsman

£348redress stated in the decision

Mon May 21deadline 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, Treatment in financial difficulty

In the Ombudsman’s words

Cash4UNow was required to lend responsibly. It should have made checks to make sure Mr N could afford to repay the loan before it lent to him.Irresponsible lending

when Mr N told Cash4UNow he had financial difficulties, it should have responded positively and sympathetically.Treatment in financial difficulty

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN7666180.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.