PPI Reclaiming Discussion part 4

di3004

gumbi wrote: »

So let me get this right....Ocean Finance have gone bust and can't pay up for PPI refunds but the Ocean Finance Loans & Mortgages can afford prime time TV ads and their own TV channel!!!!!!!!!!

Please tell me I'm getting confused and it's not so!:eek:

Hi Gumbi, this is confusing isn't it?
Something not right about this one, if I were Pammie I would try to double check on this.

di3004

Just checked on Companies house and done a search on these, there seems to be lots of them.......

Check the link here:
http://wck2.companieshouse.gov.uk/94cd2344f26193abc9fe6b7e5cbd6a6f/companysearch?disp=1&frfsh=1246889451#result

The annoying thing is as just found out the finance side of the loan department shows they are no longer active, yet the mortgage department are.

http://wck2.companieshouse.gov.uk/94cd2344f26193abc9fe6b7e5cbd6a6f/compdetails

Pammie, check your company number and see if it matches this one hun. X

gumbi

di3004 wrote: »

Just checked on Companies house and done a search on these, there seems to be lots of them.......

Check the link here:
http://wck2.companieshouse.gov.uk/94cd2344f26193abc9fe6b7e5cbd6a6f/companysearch?disp=1&frfsh=1246889451#result

The annoying thing is as just found out the finance side of the loan department shows they are no longer active, yet the mortgage department are.

http://wck2.companieshouse.gov.uk/94cd2344f26193abc9fe6b7e5cbd6a6f/compdetails

Pammie, check your company number and see if it matches this one hun. X

If this is correct then I'm appalled!!!!!!
Talk about taking the p**s:eek::eek::eek:

Surely they can't be allowed to actively market a company in this way!

di3004

gumbi wrote: »

If this is correct then I'm appalled!!!!!!
Talk about taking the p**s:eek::eek::eek:

Surely they can't be allowed to actively market a company in this way!

Its absurd isn't it ?

I had a similar problem with one of mine Marshallka worked very hard getting all the details for me, and the company that went into liquidation do actually have lots of other companies running, its so maddening.

gumbi

di3004 wrote: »

Its absurd isn't it ?

I had a similar problem with one of mine Marshallka worked very hard getting all the details for me, and the company that went into liquidation do actually have lots of other companies running, its so maddening.

Brief investigations but so far it looks like Ocean Finance is merely a shell company that First Choice Finance are using for branding purposes. The website says that Ocean simply introduce all customers to First Choice and then charge First Choice 1.5% commission as an 'introduction fee'

It would be interesting to see a list of board directors for the failed Ocean Finance and the new First Choice Finance and even more interesting to find out where the 1.5% introduction fee ends up......

My guess would be that that they are all linked somehow and that in effect First Choice are charging themselves 1.5% commission to bump up the profit margin.

OH WHAT A TANGLED WEB THEY WEAVE!!
Is it any surprise that we're all confused...I'm pretty certain that this is by design.

What the hell are the FSA doing to allow this to happen?

di3004

gumbi wrote: »

Brief investigations but so far it looks like Ocean Finance is merely a shell company that First Choice Finance are using for branding purposes. The website says that Ocean simply introduce all customers to First Choice and then charge First Choice 1.5% commission as an 'introduction fee'

It would be interesting to see a list of board directors for the failed Ocean Finance and the new First Choice Finance and even more interesting to find out where the 1.5% introduction fee ends up......

My guess would be that that they are all linked somehow and that in effect First Choice are charging themselves 1.5% commission to bump up the profit margin.

OH WHAT A TANGLED WEB THEY WEAVE!!
Is it any surprise that we're all confused...I'm pretty certain that this is by design.

What the hell are the FSA doing to allow this to happen?

It's not good is it?

Like you said its a no wonder we're all left confused here!

It's just not on.

pammie39

hi and thanks for all your replys

this is apart off the letter i was sent from the people dealing with ocean finance stuff...........
we confirm that prior to 14/01/2005 Alabaster (c.i) limited ("Alabaster"), a company incorporated in jersery,was permitted, to use the name "ocean finance" in advertisements for the purpose of soliciting applications from the pulic for the granting of personal loans. Alabaster ceased trading on 31/12/2004, after which date all of the assets of Alabaster were distributed.


my account was opened in feb 2002

i just need to contact fsa now, (poss on thursday).

thanks for the links di.


speak soon



p.s happy birthday for this month di !!!!!!!:T

chrisharri

Hello All, I have my first letter from Natwest re my PPI that was for my first loan taken out Sept 2004. It says in brief that they are going to make a gesture of good will and will pay back £154.97, not the total amount of £267.67 which was credited to my account when i paid off the loan. What shal I do? I have another two loans from Natwest and I'm awaiting a decission on them.

maxdp

chrisharri wrote: »

Hello All, I have my first letter from Natwest re my PPI that was for my first loan taken out Sept 2004. It says in brief that they are going to make a gesture of good will and will pay back £154.97, not the total amount of £267.67 which was credited to my account when i paid off the loan. What shal I do? I have another two loans from Natwest and I'm awaiting a decission on them.

Goodwill gestures are usually that they are trying to buy you off. Saying that I do not understand what you are saying with your comment above. Can you tell us how much ppi you have paid plus interest etc.

marshallka

gumbi wrote: »

So let me get this right....Ocean Finance have gone bust and can't pay up for PPI refunds but the Ocean Finance Loans & Mortgages can afford prime time TV ads and their own TV channel!!!!!!!!!!

Please tell me I'm getting confused and it's not so!:eek:

For the purposes of being liable for each others short comings they have to be "appointed representatives". This is how they get away with things.