Personal Loan Decision Reference 2019-0266

Case OutcomeRejected
Reference2019-0266
Date20 August 2019
Year2019
Subject MatterPersonal Loan
Conducts Complained OfArrears handling ,Dissatisfaction with customer service , Failure to process instructions in a timely manner
Finantial SectorBanking
Decision Ref:
2019-0266
Sector:
Banking
Product / Service:
Personal Loan
Conduct(s) complained of:
Arrears handling
Dissatisfaction with customer service
Failure to process instructions in a timely manner
Outcome:
Rejected
LEGALLY BINDING DECISION
OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN
Background
The complaint relates to a loan settlement agreement proposed by the Bank in January 2016
which the Bank maintains expired in June 2016 without the Complainant having accepted
the offer.
The Complainant’s Case
The Complainant held a loan account with the Bank. The Complainant states that, in or
around January 2016, the Bank agreed to a “full & final settlement” of his loan account in
the amount of €50,000.00 which offer was “eventually” put in writing in May 2016 quoting
an expiry date in June 2016. The Complainant submits that, notwithstanding his failure to
accept the offer within the stated time-frame, the Bank continued to engage with him
regarding the settlement and promised to progress the matter as recently as December
2016. A new individual took over the Complainant’s account in February 2017 and a letter
issued advising that the offer had expired in June 2016.
The Complainant complains about delays on the part of the Bank in respondi ng to him and
about “the abrupt end to discussions on the loan settlement”. The Complainant maintains
that the conduct of the Bank was such that it implied that the settlement offer was still open
in December 2016 and, in such circumstances, the Complainant submits that “he was

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