FOS ruling against Black Horse could help other retired people struggling with pre retirement debts

[Undercover Elsa]

A recent ruling by the Financial Ombudsman in favour of a retired couple held that Black Horse should have taken their future retirement income into account when granting a loan.

The secured loan was granted 2 years before retirement, and the Glasgow couple were facing repossession after a drop in income upon retirement.
The ombudsman ruled in the couple's favour and ordered that the loan be restructured at 0% interest on an affordable £200 per month.

PDF Copy of decision below, courtesy Govan Law Centre who submitted the complaint on behalf of the couple.

[pompeyfaith]

Re: FOS ruling against Black Horse could help other retired people struggling with pre retirement de

Fantastic result Elsa

[ATW]

Re: FOS ruling against Black Horse could help other retired people struggling with pre retirement de

That's a fabulous result. Gonna have a read of it now.