Ocean Finance PPI

onesixfive

Moneyineptitude wrote: »

Plevin only applies to finance still owing on and after 2008.
It's not a "tactic".
Your circumstance (£25K still owing) is very unique

Is this what they have applied?
There's no mention ANYWHERE on the documents about "Plevin"
I am fairly well-versed, but if they dont mention it, how are we supposed to know/refer to it??:eek:

[Deleted User]

onesixfive wrote: »

Is this what they have applied?
There's no mention ANYWHERE on the documents about "Plevin"
I am fairly well-versed, but if they dont mention it, how are we supposed to know/refer to it??:eek:

They don't have to refer to the refund as Plevin.
It's the Plevin Ruling which has facilitated your refund of undisclosed commission above 50%.

Incidentally, since Plevin only applies to rejected complaints, where does that leave your FSCS referral I wonder?

onesixfive

Moneyineptitude wrote: »

They don't have to refer to the refund as Plevin.
It's the Plevin Ruling which has facilitated your refund of undisclosed commission above 50%.

Incidentally, since Plevin only applies to rejected complaints, where does that leave your FSCS referral?

No Idea - that's just what I'm doing - writing to everyone to find out before we accept their offer

[Deleted User]

onesixfive wrote: »

No Idea - that's just what I'm doing - writing to everyone to find out before we accept their offer

You may have no alternative, I'm afraid, although an £8,000 Plevin refund has to be some kind of record!

onesixfive

Moneyineptitude wrote: »

You may have no alternative, I'm afraid, although an £8,000 Plevin refund has to be some kind of record!

Whooppee! :j - although in this case, every penny helps

-taff

Your complaint may still be successful but they will take off the Plevin payment from any redress. And make sure to apply this reufnd to the loan

Yozzer31

Hi folks
Sorry if I am going over old ground but we took out a loan with Swift Advances through Ocean Finance back in Aug 2004. Have written to Ocean only to be told that Ocean Finance & Mortgages Ltd have since bought the old business and they can't assist with my claim. Have said I should write to the previous owner, Mr Newey himself.

Does anyone have any ideas if I have a case for refund of £4k front loaded PPI ???

Thanks
Paul

SonOf

Yozzer31 wrote: »

Hi folks
Sorry if I am going over old ground but we took out a loan with Swift Advances through Ocean Finance back in Aug 2004. Have written to Ocean only to be told that Ocean Finance & Mortgages Ltd have since bought the old business and they can't assist with my claim. Have said I should write to the previous owner, Mr Newey himself.

Does anyone have any ideas if I have a case for refund of £4k front loaded PPI ???

Thanks
Paul

Your complaint is with Swift advances. Not Ocean Finance.

Plus, its pre-regulation and swift advances did not become regulated until 23/10/2004. You bought two months earlier. So, they do not need to consider your complaint.

Yozzer31

Interesting conversation with FCA Complaints Line today.
They have indeed confirmed that we should claim against Swift Advances but also that, as the loan was being repaid up to 2009, I should be able to claim it back from them. As you say, SonOf, they became regulated during the repayment period and should therefore be liable. So fingers crossed.

Many thanks
Paul

SonOf

Yozzer31 wrote: »

Interesting conversation with FCA Complaints Line today.
They have indeed confirmed that we should claim against Swift Advances but also that, as the loan was being repaid up to 2009, I should be able to claim it back from them. As you say, SonOf, they became regulated during the repayment period and should therefore be liable. So fingers crossed.

Many thanks
Paul

Either you were told wrong or it is a misinterpretation. Or perhaps they are referring to Plevin

For a missale complaint, it is the date it was sold that matters. As it was prior to regulation then you cannot make a missale complaint (or they can just reject it as pre-regulation if you do)

However, Plevin could apply on a loan still in payment in 2009. Swift would have to answer to that.