Mobile Money Limited · DRN-3833094

The complaint In October 2021 Mr B complained to Mobile Money Limited (“Mobile Money”), trading as AutoMoney, to say it shouldn’t have sold him a logbook loan as he was struggling financially and they were therefore unaffordable. What happened Mobile Money says that it didn’t sell Mr B the loan and therefore isn’t responsible for the sale. It also says that it acquired Mr B’s loan from another company, Quickclick Loans Limited and it was that company that had sold Mr B the loan. One of our adjudicators, having reviewed the available sale paperwork, agreed that Mobile Money wasn’t responsible for the sale of the loan. Because Mr B disagrees the complaint come to me so that I can look at the question of who is responsible for the sale. What I’ve decided – and why I’ve considered all the available evidence and arguments to decide what’s fair and reasonable in the circumstances of this complaint. In particular, I’ve looked at all the available information and evidence, including what the parties have told us, to decide whether Mobile Money is responsible for the sale. To be clear, I’m not looking at the question of whether something went wrong when the loan was sold to Mr B. Having done so, I agree with our adjudicator that Mobile Money is not responsible for the sale of this logbook loan to Mr B. Mobile Money took over Mr B’s loan from QuickClick Loans Limited in October 2017. I’ve seen that when it did so, this didn’t include taking over liability for the sale of the loan itself. That means that Mobile Money isn’t responsible for looking into Mr B’s complaint about the way the loan was sold to him. Mr B sent us an annual statement which shows the loan is still being administered by AutoMoney and I’ve seen that a Mobile Money email address and website is included. But that isn’t enough to show that Mobile Money is responsible for what happened when QuickClick Loans Limited sold Mr B the loan. In principle, it would still be open to Mr B to look at making a complaint to QuickClick Loans Limited, although that wouldn’t be something we’d be able to help with as it’s no longer authorised by the Financial Conduct Authority. Also, from what we’ve discovered, QuickClick Loans Limited was dissolved in June 2021 and so is no longer trading. Mr B therefore wouldn’t be able to make a complaint to it about the sale.

-- 1 of 2 --

It follows that I don’t consider Mobile Money to be responsible for arranging and granting the logbook loan to Mr B. I’m therefore unable to look any further into the merits of the complaint. I am sorry that we’re unable to help Mr B on this occasion. My final decision For the reasons I’ve given above, my decision that Mobile Money Limited is not responsible for the sale of Mr B’s logbook loan. Under the rules of the Financial Ombudsman Service, I’m required to ask Mr B to accept or reject my decision before 18 January 2023. Michael Goldberg Ombudsman

-- 2 of 2 --