Not upheld: Debt collection practices complaint against T.B.I. Financial Services Ltd.

Decision detail

Summary

Mr A and Ms B complained that TBI was wrongfully pursuing Mr A for a debt that should only be in Ms B's name, alleging his signature was forged. The loan was originally taken in 1998 and transferred to TBI in 2001. Mr A complained in 2014 but the ombudsman found his signature was genuine and his own conduct—including discussing the loan with the original lender, signing payment card letters in 2005, and making repayments—demonstrated he was aware of and accepted joint liability. The ombudsman rejected the fraud allegation and found TBI had provided all available information, resulting in the complaint not being upheld.

The Ombudsman's reasoning

The ombudsman was not satisfied that fraud had occurred. The signature on the agreement appeared genuine, with differences explained by the passage of 15 years. Mr A's own actions—discussing the loan with the original lender, signing and returning payment card letters in 2005, and making repayments—demonstrated his awareness and acceptance of joint liability. If Mr A believed the debt was not his, the ombudsman found it unreasonable that he would wait nine years after 2005 to raise concerns. TBI had provided all information available given the significant time lapse.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website