Mobile Money Limited

Financial Ombudsman decision DRN8220794 Upheld

Upheldoutcome, as published by the Ombudsman

£700redress stated in the decision

Mon May 14deadline 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, Product mis-sold

In the Ombudsman’s words

MML were aware that Mrs Z had three outstanding county court judgments against her name for unpaid debts. So I think it acted irresponsibly in offering her and indeed encouraging her to take more borrowing than she’d asked for.Irresponsible lending

Mrs Z complains Mobile Money Limited (“MML”) misrepresented how much interest she’d have to pay on her log book loan.Product mis-sold

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN8220794.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.