ocean finance/nemo - is this possible ppi claim?

fairylights2008

hi everyone, i hope you can please help me! i was really mystified to receive our account statement for a secured loan we took out in august 07 for £22k with NEMO (through Ocean Finance). the total loan amount states over £27k with over £5k in payment protection insurance. my husband arranged this loan and he says as well he thought it was just for £22k. we've had a baby between now and then so we are a bit befuddled generally but i'm convinced this isn't right. i've read through the section on ppi and I feel we have a case to make a claim. just wondered what you guys think? is it worth me doing something?

many thanks in anticipation x

di3004

fairylights2008 wrote: »

hi everyone, i hope you can please help me! i was really mystified to receive our account statement for a secured loan we took out in august 07 for £22k with NEMO (through Ocean Finance). the total loan amount states over £27k with over £5k in payment protection insurance. my husband arranged this loan and he says as well he thought it was just for £22k. we've had a baby between now and then so we are a bit befuddled generally but i'm convinced this isn't right. i've read through the section on ppi and I feel we have a case to make a claim. just wondered what you guys think? is it worth me doing something?

many thanks in anticipation x

Hello and welcome.;)

I also had a loan and loan advance with Nemo and very costly as well, although we were successful in reclaiming on the PPI in the end through the Financial ombudsman service (FOS).

If mis sold for any reason then write to the ones who sold you the finance, Ocean finance then in your case, they have 8 weeks to respond in full, keep on at them until they either resolve in your favour, or until they issue you with the final decision, they should give details of the FOS in the final decision, where you can take your complaint to them if your not happy with the outcome.
Post all letters by recorded delivery.

For more help on reclaiming with templates etc also a mis selling checklist check the link below, some of those reasons may occur to you as well, if this is the case the write them in your letter, you can use the templates if you want to or as a guide, you do not require to write down any figures at this point, good luck and please ask for further help if required and keep us posted, cheers.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance