Mis-sold PPI

rowls

has anyone had any dealings with Nemo finance ? we took out various loans secured on our property & still have one running at present for £48,000 :mad: yes wow!!!
This has PPI on it totalling the loan upto approx £64,000 , the cover is only for 5 years but the loan is for 25 years !!
We are going through a company called EMC to try and reclaim our PPI .
Could anyone say whether they have been successful against Nemo or with EMC ...

Thanks

di3004

Hi there

And yes, we were successful with a ppi reclaim against Nemo and was awarded almost £13K back in ppi, this was back in 2007.
We did have 2 loans with them, the first one was arranged through a broker, so this was pursued through the actual broker and the loan advance Nemo, so it was Nemo with this one, however when I say successful - it went as far as the FOS, when we settled that loan off, we settled at paying off almost £67K with ppi, this was why we were awarded almost £13K.;)

Its very hefty isn't it, and I bet you were presssurised into taking the ppi out? That's nemo for you.

I would give it a go with your reasons, by either writing a letter in your own words, because the first template letter was replaced by a PPI reclaiming questionnaire on this site, you can use that if you want to.

If you write a letter, then just request they refund you all you have paid in PPI, plus interest.

Give your reasons on why your reclaming, obviously with just being sold these rip off costly single policies are a reclaim in itself, because you will still be paying for the ppi for the life of the loan, yet it stops at 5 years, and these policies are frowned upon, very costly indeed.

Then state that you expect to receive a response by 8 weeks.

Then confirm if you do not receive a favourable decision, then you will consider taking the matter further to retrieve your PPI.
For instance the courts or the Financial ombudsman service (FOS).

If you decide to want to complete the questionnaire, then send to whoever sold you the policy, remember to keep a copy in case you need to refer to it at some point, and as usual they have 8 weeks.
However, they may ask for more time, that is okay, just as long as you know where you are.

You will find the questionnaire on link below, further down the page as stage one.
http://www.moneysavingexpert.com/rec...loan-insurance

(Not to get this questionnaire confused with FOS complaints form).;)

If you can also manage to post by recorded delivery as well, this is your proof of posting.

Good luck, please let us know how you get on.
Cheers.

dunstonh

We are going through a company called EMC to try and reclaim our PPI .

Thats a shame as single premium PPI is about the easiest thing to claim for and win. All you needed to do was send in a 30 second template letter. Thats all EMC are going to do.

Could anyone say whether they have been successful against Nemo or with EMC ...

My 10 year old daughter could win on single premium PPI.

If you are still within the cancellation period with EMC then activate it ASAP as you are just throwing money away. Then DIY and put the redress to better use and not pay a claims company for a template that looks the same as the ones you get on this site for free.

di3004

I agree with Dunstonh, give it a go yourself and with being a sold a policy like this you do stand a very good chance, it would be a shame to pay for a company to do this for you, where this should be actually pretty straight forward with using DIY reclaiming procedures with help from this site if needed.;)

rowls

Thanks for your replies , but unfortunatley we have been going through EMC for about 5 months now !!
I know you say its a shame to let these people take a share of the reclaim if successful but we just want justice for the way we have been missold by NEMO !!
I am a bit worried as we have not received a response from EMC in the last 2 months after we forwarded more details to them !

While we are on the case we also took out a loan with HSBC in 2006 again with PPI , we paid off this loan after 12 months instead of it running for the 5 years but we have no record of our loan agreement , could anyone advise how we go about this one

Thanks

di3004

rowls wrote: »

Thanks for your replies , but unfortunatley we have been going through EMC for about 5 months now !!
I know you say its a shame to let these people take a share of the reclaim if successful but we just want justice for the way we have been missold by NEMO !!
I am a bit worried as we have not received a response from EMC in the last 2 months after we forwarded more details to them !

While we are on the case we also took out a loan with HSBC in 2006 again with PPI , we paid off this loan after 12 months instead of it running for the 5 years but we have no record of our loan agreement , could anyone advise how we go about this one

Thanks

Hi there

I take it you have tried chasing them up?

If any problems, you could try contacting the Ministry of justice (MOJ).......
http://www.justice.gov.uk/contactus.htm
I would ring them and not email, for a quicker method if you can, explain your situation with the above company.

And in regards of your other one, all you do is pursue the ones who mis sold for whatever reasons you have.

Just do this by completing the reclaiming questionnaire, you will find this on link below, further on down the page as stage one....
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
remember to keep a copy in case you need to refer to it at some point, they have 8 weeks to give a decision, although they may ask for more time and keep you updated.

If you require further help, just give a yell, good luck.

rowls

Hi

I have now been in contact with EMC and they have informed me that the 3 loan PPI missold queries have gone to the Financial ombudsman to an adjudicator , these went in mid August , does anyone know the length of this process ? Also another query if we win the case would we get a refund or would the amount be deducted off our outstanding loan .

Thanks for all your advice everyone:T

di3004

rowls wrote: »

Hi

I have now been in contact with EMC and they have informed me that the 3 loan PPI missold queries have gone to the Financial ombudsman to an adjudicator , these went in mid August , does anyone know the length of this process ? Also another query if we win the case would we get a refund or would the amount be deducted off our outstanding loan .

Thanks for all your advice everyone:T

Hi there

Glad to hear your news update, well done.

Right, its difficult to give a definate timescale but it can take say anything from 6 months to maybe 18 months in complexed cases, but they do try to resolve them at the earlier stages if they can, so sometimes but maybe rarely due to the high volumes of complaints, some can be resolved as early as 8 weeks once its been with the adjudicator.
Good luck with yours anyway, and if there are no outstanding arrears/missed payments, its possible you will receive the refund, or they may decide to refund towards the account and anything remaining plus interest refunded directly to you.;)