Nemo PPI Claims?

kangaroo100

Has anyone had any real success with claiming back PPI insurance from Nemo?

I am submitting my claim today for single premium PPI being added to an original loan and a subsequent "re-finance" loan, and am therefore interested to hear if anyone else has any comments or words of encouragement?

I have already had one run in with Nemo over the loan interest rate which has stayed at about 7% since June 2007 despite the bank of england rates dropping to their current level. When I queried this earlier in the year they claimed that they aren'y governed by them, but they certainly were in 2007 when they put it up to 7%!!!

So, I'm not holding my breath that it'll be an easy process.

Thanks in advance for any feedback.

di3004

kangaroo100 wrote: »

Has anyone had any real success with claiming back PPI insurance from Nemo?

I am submitting my claim today for single premium PPI being added to an original loan and a subsequent "re-finance" loan, and am therefore interested to hear if anyone else has any comments or words of encouragement?

I have already had one run in with Nemo over the loan interest rate which has stayed at about 7% since June 2007 despite the bank of england rates dropping to their current level. When I queried this earlier in the year they claimed that they aren'y governed by them, but they certainly were in 2007 when they put it up to 7%!!!

So, I'm not holding my breath that it'll be an easy process.

Thanks in advance for any feedback.

Hello there and yes, we have been successful, although it was resolved through the FOS.

I will say though Nemo are not the best to deal with but keep on at them.

If they do not resolve in your favour by the final response take it to the Financial ombudsman service (FOS).

For more information on reclaiming check this link here with templates, they have 8 weeks in full to respond and post up for further help if you require this, oh and post all letters by recorded delivery.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

kangaroo100

Just to keep you posted, I actually received a letter from Nemo today, confirming receipt of my complaint and advising that my complaint will be investigated accordingly. They have also stated that whilst they are obliged to reply within 56 days their aim is to resolve the matter within 28 days.

It all sounds quite positive, but I have this niggly feeling that this is just an initial "fob off" letter, or perhaps I am just being cynical?

If anyone else is reading this post I would be very grateful for any body elses feedback regarding their experience of dealing with Nemo.

With thanks in advance.

di3004

kangaroo100 wrote: »

Just to keep you posted, I actually received a letter from Nemo today, confirming receipt of my complaint and advising that my complaint will be investigated accordingly. They have also stated that whilst they are obliged to reply within 56 days their aim is to resolve the matter within 28 days.

It all sounds quite positive, but I have this niggly feeling that this is just an initial "fob off" letter, or perhaps I am just being cynical?

If anyone else is reading this post I would be very grateful for any body elses feedback regarding their experience of dealing with Nemo.

With thanks in advance.

Hello there again.;)

This is standard procedure with Nemo, the same letter as we received when we were going through the complaint process with them, keep it up though and I do hope they resolve this for you, if they don't by the final decision please do take it further, such as with the FOS, Nemo will give details of these on the final response.

My experience with them was not easy, but the FOS seen through them.

Also ask them for a copy of the phone recordings as well because this helped us win through the FOS.

Good luck with this.;)

kangaroo100

After the way they dealt with our prior issue, regarding their interest rate not dropping at all in the last 2 years, I promise that I have every intention of taking this as far as I can.... regardless of how long it takes.

Cheers.

di3004

kangaroo100 wrote: »

After the way they dealt with our prior issue, regarding their interest rate not dropping at all in the last 2 years, I promise that I have every intention of taking this as far as I can.... regardless of how long it takes.

Cheers.

Good one and I don't blame you at all.:T

They do or did try holding our complaint out with the FOS as well, it had taken about 14 - 15 months from complaining to the FOS to having this paid out, but yes go and get them, I'm sure the fOS will see this in your favour as well, good luck.;)

kangaroo100

Hi All, got a reply from Nemo last week.... no pizes for guessing their response. They have denied any wrong doing and provided us with copies of the signed original agreements as well as a couple of "transcripts" from the original recordings claiming that I/we agreed to everything and subsequently signed all of the relevant paperwork accepting that we knew what we were doing etc... They went on to advise that we should contact the ombudsman if we're not satisfied. Should I contest this initial response directly with them in the first instance? I was going to ask them for copies of all of the recordings of telephone calls as there were quite a few as I recall, not just 2. My other beef with them is that whilst they may have advised that the PPI was optional, I still say that they "implied" that without taking it out they would not have authorised the loan, meaning that we'd have to start all over again. They also did not advise that we could have simply gone elsewhere for the PPI if we wanted it.
Also, as I obviously don't want the PPI, is it worth me simply cancelling it now and asking for the loan to be recalculated accordingly? Or am I likely to see hardly any difference?
Any further support will be gratefully received.
Thanks to all.

di3004

kangaroo100 wrote: »

Hi All, got a reply from Nemo last week.... no pizes for guessing their response. They have denied any wrong doing and provided us with copies of the signed original agreements as well as a couple of "transcripts" from the original recordings claiming that I/we agreed to everything and subsequently signed all of the relevant paperwork accepting that we knew what we were doing etc... They went on to advise that we should contact the ombudsman if we're not satisfied. Should I contest this initial response directly with them in the first instance? I was going to ask them for copies of all of the recordings of telephone calls as there were quite a few as I recall, not just 2. My other beef with them is that whilst they may have advised that the PPI was optional, I still say that they "implied" that without taking it out they would not have authorised the loan, meaning that we'd have to start all over again. They also did not advise that we could have simply gone elsewhere for the PPI if we wanted it.
Also, as I obviously don't want the PPI, is it worth me simply cancelling it now and asking for the loan to be recalculated accordingly? Or am I likely to see hardly any difference?
Any further support will be gratefully received.
Thanks to all.

Hi hun

lol action replay with our nemo loan.

Yes do request for the telephone recordings, this is what helped our case with the FOS.

I would also as well go to the FOS, enclose copies of the correspondence etc and anything you have to support your case, you can always send on the copy of the recordings at a later date, once you receive a ref number by the FOS.

However, write to Nemo and request for the copy of the recordings, ask if they can post these by 7 days. Post as usual by recorded delivery, this way they cannot deny receiving this request.

Have you actually requested for a full SAR from Nemo yet, this is the one you enclose the £10 cheque or postal order payment for?

If not then check this out here:
http://forums.moneysavingexpert.com/showthread.html?t=1475553
They have up to 40 days to comply on this request, so I would try by just requesting for the recordings for free for now and maybe the SAR later on if you have to, I actually received some very useful information within my SAR, again that helped with the case, and the comments made by them were unbelievable.

Hope this helps.
Good luck.;)

di3004

Forgot to post you the FOS details, you can either ring them to arrange for them to post you a complaints form or download and print from their website.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

When we cancelled the ppi with nemo on the loan advance, the repayments did not reduce by that much, because this was way after the cooling period, for example the original repayment was approx £527 a month, they only reduced it by about £14 a month, however due to their rates changes a month after they typically more or less charged the same as what were were first paying as stated above.

The PPI without the loan on ours was almost £11K, when this was resolved through the FOS, we received approx just under £13K back, but the loan was also settled by then as well.

kangaroo100

Hi di3004,

I appreciate the support with this! It's good to get feedback, especially from someone who'se tackled the same outfit as us.

I'll keep you posted.

di3004

kangaroo100 wrote: »

Hi di3004,

I appreciate the support with this! It's good to get feedback, especially from someone who'se tackled the same outfit as us.

I'll keep you posted.

Your very welcome.;)
Please do keep me posted on them if you don't mind.
That would be cool.
Cheers and do not worry you will WIN this.:beer: