Https://www.financia L-ombudsman.org.uk/d Ecision/DRN-2510303. Pdf.pdf

DRN-2510303.pdf
Preview of https://www.financia l-ombudsman.org.uk/d ecision/DRN-2510303. pdf
🔗 Source: financial-ombudsman.org.uk
📊 Size: 108 KB
👤 Author: Financial Ombudsman Service
⬇️ Downloads: 39

Summary

Mr D claims Morses Club PLC lent to him irresponsibly, as he was in a debt spiral and the loans weren't affordable. The complaint involves six home collected loans between July 2013 and July 2018. The adjudicator partially upheld the complaint, stating Morses was wrong to approve lending from loan 3 onwards. Morses disagreed, but the final decision upholds Mr D's complaint in part, stating Morses should have realized the lending was unsustainable by loan 3 due to the pattern of lending, including the doubling of the loan amount and the short time between settling previous loans and taking out new ones. Morses is required to put things right, with the decision considering what might have happened if Morses had stopped lending to Mr D from loan 3 onwards.

Description

Mr D claims Morses Club PLC lent to him irresponsibly, as he was in a debt spiral and the loans weren't affordable.

Technical Information

  • File Format: PDF
  • File Size: 108 KB
  • Pages: 4
  • Language: EN
  • Author: Financial Ombudsman Service
  • Total Downloads: 39
  • Last Updated: 1 month ago

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