The original PPI was £3712.50 payable at £33.66 a month. By the time the loan is paid off the amount of PPI payable will be £10,098.00. The amount given in compensation was £5,290.91. All I am looking for is for the interest on the PPI part of the loan to stop but not sure that there is anything I can do?

As my payment amounts haven't reduced from when the loan was originally taken out.

As I went through Bright Finance to get the loan (they are the ones who sold the PPI) then the FSCS refunded me the payments I had made and the original PPI Premium. However, it is Nemo that the loan is with and therefore it is them that we pay the repayments of the loan to and the PPI amounts. When the PPI was found to be mis sold and the refund given from the FSCS Nemo never adjusted the loan and therefore we are still paying the interest of the PPI over the term of the loan.

Hi, Looking for some advice we received a cheque for FSCS back in 2010 for mis sold PPI. We took the loan out through broker Bright Finance. The loan is with Nemo. When we accepted the cheque we were of the understanding that the loan would be adjusted to stop any future PPI interest. I have been round the houses several times and from another post on here see that Nemo do not have to rewrite the loan to exclude the PPI interest. If I had known this at the time I would have questioned the amount with the FSCS. There is still 10 years left on my loan so my question is will I be able to go back to the FSCS and request the subsequent payments that I have made and will make to be refunded? Thanks

Hi, We took out a loan in 2005 with Nemo. It was through the broker Bright finance. We tried to reclaim our PPI through Nemo and they said it had nothing to do with them and we needed to go to the broker Bright Finance. I took this to the FOS who advised that I needed to go to the FSCS. They advised that we were eligible for compensation and we received the original premium plus what we had paid in interest to 24th August 2010. I thought that Nemo would still have to rewrite the loan so that it was as though the PPI was never there. They said that they did not have to do this and we have now still being paying interest on the PPI since 2010. My question is should they have rewritten the loan and if so should they now have to also pay back the interest we have paid on the PPI since 2010? Thanks

Sorry forgot to say that this is regarding bank charges.

Hi All, I have been fighting with RBS for over 6 years for bank charges. I am now at the point where I want to take them to court over these charges and want to know if you think I have a case. In 2010 they sent me a letter saying that I was not in financial hardship because I had understated my income which I believe was an error on their part as my salary was not paid into an RBS account so therefore they would not have known what my salary was and because I can also prove that this was my salary at the time. Further to this when I took my case to the FOS RBS advised them that they had been sympathetic to my circumstances as they had reduced the payments on my loan with them when in fact the payments were originally reduced as I had cancelled insurance which I believed to have been misold and subsequently this PPI was refunded to me. My loan payments were then reduced further as they took me to court over non payment of my loan due to my financial hardship. They would not accept my offer of £150 a month reduced monthly payments but when they took me to court they accepted this same amount. I have been back and forth with the bank and been fobbed off with the standard letters and I was even told when I asked for a call back from a manager that all the letters I was receiving saying that they were still gathering information were incorrect as each time my case had not even been assigned to anyone to look at. Any help or advice greatly appreciated. Thanks

Hi All, I have been fighting with RBS for over 6 years for bank charges. I am now at the point where I want to take them to court over these charges and want to know if you think I have a case. In 2010 they sent me a letter saying that I was not in financial hardship because I had understated my income which I believe was an error on their part as my salary was not paid into an RBS account so therefore they would not have known what my salary was and because I can also prove that this was my salary at the time. Further to this when I took my case to the FOS RBS advised them that they had been sympathetic to my circumstances as they had reduced the payments on my loan with them when in fact the payments were originally reduced as I had cancelled insurance which I believed to have been misold and subsequently this PPI was refunded to me. My loan payments were then reduced further as they took me to court over non payment of my loan due to my financial hardship. They would not accept my offer of £150 a month reduced monthly payments but when they took me to court they accepted this same amount. I have been back and forth with the bank and been fobbed off with the standard letters and I was even told when I asked for a call back from a manager that all the letters I was receiving saying that they were still gathering information were incorrect as each time my case had not even been assigned to anyone to look at. Any help or advice greatly appreciated. Thanks

I have now been in touch with Nemo on this who said they don't have to adjust the loan so the PPI interest is not being paid anymore and that I need to go back to FSCS. when I phoned the FSCS they said I had to go through Nemo. Any suggestions on what I should do next? Thanks

Bump

Any advice on how I should word it as I have already contacted them in the past before got compensation from FSCS and they said they wouldn't look at my complaint?

OC?

Yeah it was a single premium but as it was through a broker Nemo refused to adjust the loan to take the PPI off. Do you think it is worth writing to them to say that I request the adjust to be made as I believe it was mis sold? Thanks

The original PPI was £3712.50 payable at £33.66 a month. I have phoned Nemo in the past to cancel it but they advised that my payments would not come down as they did not know how much of my monthly payments were loan and what was PPI. By the time the loan is paid off the amount of PPI payable will be £10,098.00. The amount given in compensation was £5,290.91. All I am looking for is for the interest on the PPI part of the loan to stop but not sure that there is anything I can do? Thanks

Hi, I tried reclaiming bank charges under the financial hardship rule before the test case was complete. I have been fighting it ever since. I was claiming from 3 different banks at the same time and provided them all with the same information. The other 2 deemed me to be in financial hardship but RBS said that I stated my income incorrectly. They tried a few different letters to say that I wasn't in financial hardship until the test case ended and then said that due to the result of the case my charges would not be refunded. They had also advised that while they looked at my case initally there would be no legal action on my loan which I had defaulted on but the next day they issued me with court papers, took me to court and now I have a CCJ against my name. Around 90% of the loan which they took me to court over was PPI that I eventually got back after going to the FOS. I went to the FOS about my bank charges also and they did not think that the charges should be refunded. RBS told the FOS that they were sympathetic to my financial situation because they had reduced payements on my loan when in fact they hadn't and I feel that with everything that happended they treated me unfairly. The FOS now will not look at this again as they have issued there final decision which I wrote back to confirm I did not agree with. I wrote to RBS to advise that I did not think I had been treated fairly and was now looking for compensation on how I had been treated basically so I could get charges back. They advised that as my account was closed they could not look into this. I believe that my only option left would be to take this to a small claims court but not sure that I have a case. Has anyone got any advise they can give on this? Thanks

Hi, I am looking for some advise now that the banks seem to be refunding PPI. I took out a secured loan in 2005 with Nemo Personal Finance. It was done through a broker Bright Finance who no longer exist. I tried to reclaim the PPI on the loan as I believed that it was mis sold. Nemo said that they couldn't do anything as they never sold the PPI. I eventually went through the FCFS and got refunded what had been paid so far. However the PPI was not taken off my loan and I am still repaying the PPI. Is there anything that can be done to get this removed or because the broker no longer exists and I accepted the payment through FCFS is there nothing I can do? Any advice greatly appreciated. Thanks

Thanks. Is there a certain amount of time that I have to wait before I can contact BCCA once I have sent off the letter to CFO? Thanks

Thanks for your reply. Does email count as I have contacted them by email and not letter? Also, do you know if there is an email address for BCCA as I can't find one? Thanks

I have managed to set up replayment plans with Txt loan and LS. Easier that I thought. Looking for more help with CFO though. I have sent them a few emails now and even copied in FOS and OFT. I offered a repayment plan and still no response. I called them today and said I didn't want to discuss the loan repayment just wanted to know when I would receive a response. I ended up getting spoken to by a very rude threatening man who would not let me speak. I did manage to get in that I would agree to pay the 1 month additional interest and all he said was where you getting that from - one of those internet sites because that is not right we can charge more. I said if they were a responsible lender they would look at a payment plan but he was just talking over everything I said. I ended the call saying I wanted someone to get back to me in writing and he said okay but the only response I would get would be the same as what he said on the phone, basically charges, charge, charges and after 14 days someonewould be on my door step. Any help would be great. Thanks

Hi, I currently have 3 payday loans which Iam having tokeep rolling over as I am getting into a vicious cycle which I will only get out of by setting up repayment plans. The loan values are £750 - Capital Finance One £351.00- Txt Loan £430.94- Lending Stream I havenot defaulted on these yet but would like to contact them before I do to set up a repayment plan. Can anyone advise the best way about it? Thanks

Hi, At the end of 2008 RBS were granted a decree (CCJ) against me for a defaulted loan. I made an offer of £150.00 a month but said that they still wanted to take it to court even though it was the same amount I ended up offering when I received the court papers. Since then I put in a claim against mis selling of PPI on the defaulted loan which the FOS believed to have been mis sold. This then cleared the balance of the loan in early 2010. As the PPI on the loan was mis sold and the balance was cleared with the rebate is there anyway in which I can get the Decree removed from my credit file instead of it just sowing as settled? If the PPI had not been added in the 1st place I may have been in a better position to keep up with the repayments therefore not defaulting on the loan. Any advice much appreciated. Thanks Pudsey x

Hi DJ, From my experience with Wonga they are tough. They took money from my account which I couldn't get back. My suggestion would be to call them and sort something out as soon as possible as they add to the balance daily. Once a payment plan has been set up stick to it and then never go near a payday loan again - I know I won't be!!!!!!!

I have just had a statement through from Lloyds saying that they are covered by the FSCS. Is it worth taking my case to them to try and get my charges back under financial hardship? Thanks Pudsey

Hi, I have received word back from RBS of how much interest I will be getting back to me. They have taken just over £100.00 off the total amount of interest saying that this is 20% tax so that I don't have to claim it to HMRC. Is this correct as I have never heard of this before? Thanks Pudsey