Nemo PPI through Ocean Finance

[Trp den]

Hi

I'm new to this so bear with me!

 

We took a secured loan out in 2006 with Nemo Finance for £18,000

 

PPI was added to the tune of £4,000.

 

I have contacted Nemo and they say its nothing to do with them because the PPI was arranged by the broker!

 

The broker has gone out of business,

 

we are still paying the PPI (and the loan)

 

Nemo say I cant cancel the extra monthly payments for the PPI.

 

We are both self employed so don't think we were even suitable for PPI anyway?

 

Also, the first we knew about it was when we noticed it on the yearly statement.

 

Any advice would be gratefully received!

[hillards]

The broker has gone out of business

Try the FSCS - http://www.fscs.org.uk/

Use their checker to see if the broker is already known to them - http://www.fscs.org.uk/what-we-cover/search-for-companies-in-default/

[Trp den]

Thanks for that will check it

[Trp den]

Ocean Finance seem to be up and running again! They had disappeared the last time I looked.

[hillards]

Send Ocean a SAR and find out just what they have on file OR just fill in the FOS questionnaire and let Ocean make you an offer ?

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html

 

Either way, their head office is:

Ocean House

Calico Business Park

Sandy Way

Amington

Tamworth

[Trp den]

Thanks for your help

[dx100uk]

i'd get all the statements first

 

nemo has coughed here several times.

 

don't get fobbed off by using the phone either.

 

get the data

 

and put in an official claim unsing the FOS customer questionnaire and a spreadsheet

 

it is very wrong for nemo to say they cannot cancel nor refund the premiums paid already

and the interest these have cost you.

 

they are getting the money on a policy no longer active

so what the hell are they doing with it then!

 

dx

[Trp den]

Thanks for your help

 

I have done some digging, it wasn't Ocean Finance - it was Freedom Finance! (Nemo weren't too keen to give me the brokers name!) They were declared 'in default' in 2011 so looks like we will have to go through FSCS.

[BankFodder]

If you are dealing with Nemo on th ephone - then you should be recording the calls. If not, it seems that you are losing a lot of very valuable admissions made verbally and which are completely deniable.