nemo finance-have we got a good case???

michlahey1978

p.p.i nemo personal finance just over 2 years ago we took out a secured loan with nemo personal finance for £23,500 we were paying back £286 a month and last july decided to remortgage our home and pay the nemo loan off as we were saving £80 a month doing this!!!!but when we received our settlement figure we paid back just over £30.000 and £6,000 of that was our p.p.i so we have now gone to investor compensation to try and claim this back and also my husband is in a sick pay scheme at work and he would get 18 weeks full pay and up to 140 weeks s.s.p and nemo's cover only lasted for 60 months so i feel we have paid this p.p.i for nothing please help!!!!do we have a good case.many thanks for your replies in advance michelle

bez227

Hi iam currently in the same situation with nemo however the the ppi policy was sold to me by a broker who has now gone bust so i have to claim compensation , i do think from the info you put on that it was miss sold and in my opinion you should be able to get this money back

keep going at it bez

michlahey1978

many thanks bez,just hope they come up with something good and hope we don't have to go through the fos as it can take months and its making me ill already as i suffer with my nerves!!!will keep you informed of the progress and hope you have success too ,many thanks michelle

di3004

michlahey1978 wrote: »

p.p.i nemo personal finance just over 2 years ago we took out a secured loan with nemo personal finance for £23,500 we were paying back £286 a month and last july decided to remortgage our home and pay the nemo loan off as we were saving £80 a month doing this!!!!but when we received our settlement figure we paid back just over £30.000 and £6,000 of that was our p.p.i so we have now gone to investor compensation to try and claim this back and also my husband is in a sick pay scheme at work and he would get 18 weeks full pay and up to 140 weeks s.s.p and nemo's cover only lasted for 60 months so i feel we have paid this p.p.i for nothing please help!!!!do we have a good case.many thanks for your replies in advance michelle

Hello there

Was your loan arranged by Nemo or a broker?

If a broker you need to contact them to complain.

For more help on reclaiming with useful info and template letters check here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

We were successful with reclaiming from Nemo, but through the Financial ombudsman service (FOS), however, hopefully yours will be resolved direct with Nemo, since all the recent news of all the ppi mis selling and with them also being named, have helped.

If you require any help, please just ask, good luck.

michlahey1978

many thanks di,and the loan was sold through a company of the name central capital but we are dealing with investor compensation and they have wrote to both nemo and central capital but central capital said they haven't received anything from investor compensation so they faxed the info onto nemo(who also said they hadn't received anything)and i spoke to nemo on monday(a gentleman name martin charles in the complaints department and he said he was investigating our complaint and should expect a full response within 8 weeks,so fingers crossed.

di3004

michlahey1978 wrote: »

many thanks di,and the loan was sold through a company of the name central capital but we are dealing with investor compensation and they have wrote to both nemo and central capital but central capital said they haven't received anything from investor compensation so they faxed the info onto nemo(who also said they hadn't received anything)and i spoke to nemo on monday(a gentleman name martin charles in the complaints department and he said he was investigating our complaint and should expect a full response within 8 weeks,so fingers crossed.

Your welcome.

Do you mind me asking if they are charging you for dealing with this for you?

Hope you don't mind me asking, cheers.;)

If you change your mind and decide to do this yourself, please feel free to ask for help.
Remember this way, you get to keep all your money if successful.:beer:

We settled the Nemo loan in 2007, by remortgaging also, this complaint was then with the FOS, if Nemo had resolved this earlier, then there would not have been so much borrowed for the remortgage, to settle the loan with that of PPI was almost £67K, but when we were successful, we received back just under £13K, the PPI without the loan was originally under £11K.
So yes very costly indeed.

Please keep us posted and wishing you luck.;)