Determination - 18 October 2017

Key issues: 

Investment loan | Lender | Court judgment entered | Disputed court judgment | Post judgment interest

Summary of the complaint:

The FSP provided the consumer and her former de facto with a loan, in relation to which the FSP commenced court proceedings. To settle the court proceedings, the consumer entered into a deed of settlement with the FSP.

We found that:

As the court had entered judgment, we could not deal with the consumer’s claims disputing the judgment and the FSP’s (alleged) conduct in relation to the court proceedings and/or underlying loan.

We could not deal with the consumer’s claims that the FSP’s acted improperly in relation to the consumer’s former de facto’s bankrupt estate, as we considered it would be more appropriately dealt with by the trustee in bankruptcy.

The FSP correctly calculated post judgment interest.

The complaint was referred to the Ombudsman for Determination and the position set out in the Review was affirmed by the Ombudsman.

Follow this link for a full copy in PDF ► Determination - 18 October 2017