Norton Finance Enters Administration

magpiecottage

marshallka wrote: »

Just checked the FSCS default register and they are not on yet as its early days but surely as Norton Insurance Services Limited are still trading as yet they should handle complaints for insurance sold after 14th Jan 2005????

That would be my understanding of the situation as it stands.

hwest1980

Acc to a report i have just seen on creditman dot biz (Sorry can not post links yet!) Norton Insurance Services Limited has also gone into administration...

Jooles46

I am new to this and ony just got round to putting in a clam... can i still do this with Norton Finance as they are now in administration? and how do i go about contacting them. Help please!

marshallka

hwest1980 wrote: »

Acc to a report i have just seen on creditman dot biz (Sorry can not post links yet!) Norton Insurance Services Limited has also gone into administration...

Hmmm...

From the Gazette

Date: 10 February 2012 Issue Number: 60056 Page number: 2633 Publication Date: Friday, 10 February 2012
Notice Code: 2410
Appointment of Administrators
In the High Court of Justice, Chancery Division
Manchester District Registry No 2171 of 2012


NORTON INSURANCE SERVICES LIMITED
(Company Number 01710789)
Nature of Business: Mortgage Broker.
Registered Office of Company: Norton House, Mansfield Road, Rotherham, South Yorkshire S60 2DR.
Principal Trading Address: Norton House, Mansfield Road, Rotherham, South Yorkshire S60 2DR




Date of Appointment: 07 February 2012.

Joint Administrators' Names and Address: Sarah Bell and Philip Duffy (IP Nos 9406 and 9253), both of Duff & Phelps Ltd, The Chancery, 58 Spring Gardens, Manchester, M2 1EW Further details contact: Email: Manchester@duffandphelps.co.uk Tel: Manchester 0161 827 9000

amersall

Jooles46 wrote: »

I am new to this and ony just got round to putting in a clam... can i still do this with Norton Finance as they are now in administration? and how do i go about contacting them. Help please!

You will need to ring the FSCS.

http://www.fscs.org.uk/contact-us/

yellow3

I think we have to wait for norton to be declared in default first before we can approach fscs.....
Also if I win my case would fscs arrange for the remainder of my loan to be restructured??
Any information would be appreciated.

Y

amersall

yellow3 wrote: »

I think we have to wait for norton to be declared in default first before we can approach fscs.....
Also if I win my case would fscs arrange for the remainder of my loan to be restructured??
Any information would be appreciated.

Y

Sorry,yes you are right about the FSCS.
i don't think the loan will be reset,as you are being compensated and will not have won redress for mis sell,i may be wrong and if i am,someone who knows what will happen will post up.

marshallka

amersall wrote: »

Sorry,yes you are right about the FSCS.
i don't think the loan will be reset,as you are being compensated and will not have won redress for mis sell,i may be wrong and if i am,someone who knows what will happen will post up.

Hi Amersall:D

I think you are right there. It would be like the Picture Finance cases whereby it would be up to the consumer as to what they do with the compensation if they won and whether to use it to repay some of their loan OR other.... hence reduce their outstanding balance or repayments.

Kuffs1978

Hate to appear the dummy here Amersall, but what do you think about us? I mean, the FOS instructed that the loan be restructured to reflect how it would be now of the PPI had not been sold. Or will it be just a case of "Well, it was agreed that you shouldn't have been sold the PPI, but you'll have to pay all of it and the interest it would have accrued anyway"?

marshallka

Kuffs1978 wrote: »

Hate to appear the dummy here Amersall, but what do you think about us? I mean, the FOS instructed that the loan be restructured to reflect how it would be now of the PPI had not been sold. Or will it be just a case of "Well, it was agreed that you shouldn't have been sold the PPI, but you'll have to pay all of it and the interest it would have accrued anyway"?

Just butting in here....(I am sure amersall will post up too:))

I think that your case may now have to be dealt with by the FSCS and you will win your case again but the FSCS will work out your total PPI and interest and 8% statutory interest and pay it over to you (their way though which is not quite as much as winning with FOS and slightly different... if you take a look on their website it will tell you how they work out compensations).

It would then be up to you whatever you do with the money... whatever works out better for you really. Your loan would stay the same though if you do not pay some of it over but the choice would be yours.

Hope this helps