Who are Likely Loans and Finio?
Likely Loans and Finio Loans are trading styles of Oakbrook Finance Limited, a Nottingham lender. Likely Loans became Finio Loans in September 2022, and Finio Loans is now OakbrookAdvance, which lends £500 to £5,000 over 12 to 36 months.
Can I claim against Likely Loans and Finio?
You could, if any of these sound familiar:
- 01You borrowed again soon after paying off a loan
- 02You had several loans running at once
- 03You borrowed to pay bills or other debts
- 04You already had missed payments or defaults
Each loan is looked at separately. Even if the first was fine, later ones may not have been.
What you could get back
Average personal loan claim£8811
Interest and chargesRefunded
Interest on your refundAdded
Balance owedReduced
Negative credit file entriesRemoved
If a loan is found unaffordable, you usually only repay what you borrowed. Anything paid above that comes back to you, with interest.
Ombudsman decisions about Likely Loans and Finio
Published Financial Ombudsman decisions show how complaints like these are judged. Where a complaint is upheld, it is often only from a certain date or for certain lending. Every complaint is decided on its own facts, so these are examples, not a guide to what you’ll get.
- Upheld
Two £1,000 Finio loans in 2022 and 2023: the checks were not proportionate and missed signs of financial instability.
Read decision DRN-5616300 - Not upheld
A Likely Loans complaint where the lending was found affordable.
Read decision DRN-4149488
Likely Loans and Finio loan questions
Can I claim if I’ve paid the loan off?
Yes. Repaid loans can still be looked at, subject to time limits.
What if my loan was sold to a debt collector?
You still complain to Likely Loans and Finio, the lender that made the decision to lend.
How long does Likely Loans and Finio have to reply?
Eight weeks. If Likely Loans and Finio hasn’t sent a final response by then, or you’re unhappy with it, the complaint can go to the Financial Ombudsman, normally within six months of the final response.
How far back can I claim?
Usually six years from the lending, or three years from when you realised you had cause to complain, whichever is later. Where an account is still running, the ombudsman has sometimes looked back further.
Complain to Likely Loans and Finio yourself
You don’t need a claims company. You can complain to Likely Loans and Finio directly using its complaints page. If you’re unhappy with the answer, or it hasn’t replied within eight weeks, you can take it to the Financial Ombudsman. Both are free.