Ocean Finance PPI

michele16

HAVEFAITH wrote: »

Hi, i've yet to claim ... are you saying OF are not regulated by the FOS?

I dont know about now but they weren't at the time I was dealing with them.

HAVEFAITH

PPI_Help wrote: »

If you took your loan out after 31 October 2004, you will be fine to go to FOS against Ocean Finance. If you took the loan before 31 October 2004, you will need to try and find out who the underwriter (insurer) was, and be prepared for a very long wait.

Ben - helping out where he can

Thank you yes it was mid 2005 so I am fine.

laineysayers

Hi
I too tried to reclaim my mis sold ppi-loan and front loaded ppi with first plus via ocean Finance.
Both ocean and FP refused to pay up even though I went through the whole process of reclaiming with both companies. Tried reclaiming with a reclaiming company and they advised after a year to claim via the FOS.My claim has now been with the FOS for best part of 3 years. I keep calling the FOS every few months and there is always no news, no news.... What do I do now????

di3004

laineysayers wrote: »

Hi
I too tried to reclaim my mis sold ppi-loan and front loaded ppi with first plus via ocean Finance.
Both ocean and FP refused to pay up even though I went through the whole process of reclaiming with both companies. Tried reclaiming with a reclaiming company and they advised after a year to claim via the FOS.My claim has now been with the FOS for best part of 3 years. I keep calling the FOS every few months and there is always no news, no news.... What do I do now????

That is a very long time!
Try contacting the FOS on a monthly basis.
Hopefully someone will have some advice on this soon for you, but I do also understand the volumes of these complaints are forever rising and someone on here had waited a few years before they had their's resolved.

Good luck with this.

HAVEFAITH

di3004 wrote: »

That is a very long time!
Try contacting the FOS on a monthly basis.
Hopefully someone will have some advice on this soon for you, but I do also understand the volumes of these complaints are forever rising and someone on here had waited a few years before they had their's resolved.

Good luck with this.

3 years is way too long to wait. Think about writing to the Head Ombudsman at the FOS? .... def worth a re-visit & or go to the press, that should push it along a bit. After all that's what they exist for imho.

HAVEFAITH

PPI_Help wrote: »

If your loan was sold by Ocean Finance after 31 October 2004 you will be fine to take your complaint to FOS. If it was sold before that date, FOS will have no jurisdiction. In that case you will unfortunately have to look at either using a solicitor, or pursuing the underwriter.

HaveFaith - I reclaim PPI for a living, so have seen a number of Ocean Finance claims come to fruition.

Ben - helping out where he can

When you say friution do you mean full refund. You're a reclaims biz?

amersall

Claims companys are as long winded as the fos if you ask me. I would wait for fos, at least you wont have a bill at the end of it. Claims cos do not have a magic wand, they cannot chase any one up faster than the fos, and if you go the insurer?underwriter route, you will have to wait a long time anyway.
Just wanted to put my twopenneth in ;)

HAVEFAITH

amersall wrote: »

Claims companys are as long winded as the fos if you ask me. I would wait for fos, at least you wont have a bill at the end of it. Claims cos do not have a magic wand, they cannot chase any one up faster than the fos, and if you go the insurer?underwriter route, you will have to wait a long time anyway.
Just wanted to put my twopenneth in ;)

Fair enough, interesting post thanks!

So are there any Ocean Finance refund successes out there?

src007

The Financial Ombudsman Service release fingures and for some periods they've been upholding 100% of insurance complaints against Ocean Finance.

This is a quite outrageous percentage, suggesting they were almost always mis-selling insurance (where were the FSA?).

There's never a guarantee of success with a complaint so I wouldn't get your hopes up, until it all goes through (and the FOS are facing a legal challenge on this issue at the moment) but you should have a good chance!

HAVEFAITH

src007 wrote: »

The Financial Ombudsman Service release fingures and for some periods they've been upholding 100% of insurance complaints against Ocean Finance.

This is a quite outrageous percentage, suggesting they were almost always mis-selling insurance (where were the FSA?).

There's never a guarantee of success with a complaint so I wouldn't get your hopes up, until it all goes through (and the FOS are facing a legal challenge on this issue at the moment) but you should have a good chance!

Hello, thank you for your post. Is that fact available to read anywhere? can you link me in please?