Not upheld: Service failures generally complaint against Link Financial Outsourcing Limited

Decision detail

Summary

Mr E complained that his loan account was sold to a debt purchaser and assigned to Link Financial Outsourcing Limited, causing him concern that acquaintances working in the debt industry might discover his financial situation. CP had withdrawn from the market and sold their entire loan book. The ombudsman found that CP's loan agreement permitted the transfer without Mr E's consent, and Link acted fairly by offering to move the account to a specialist support team to limit agent access. The complaint was not upheld as neither CP nor Link had acted unreasonably, and the ombudsman recommended Mr E engage with Link to establish a suitable payment arrangement.

The Ombudsman's reasoning

The loan agreement explicitly allowed CP to transfer the account without Mr E's permission or consent. CP was entitled to sell the entire loan book when withdrawing from the market and did not need to consider Mr E's personal concerns about potential acquaintances at Link. Link acted fairly by offering specialist support to limit agent access once aware of the situation. The account cannot be returned to CP as they have exited the market, so engagement with Link is the only path forward.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website