Personal Loan Decision Reference 2019-0266

• Case Outcome: Rejected
• Subject Matter: Personal Loan
• Reference: 2019-0266
• Date: 20 August 2019
• Conducts Complained Of: Arrears handling ,Dissatisfaction with customer service , Failure to process instructions in a timely manner
• Finantial Sector: Banking

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