Norton Finance Enters Administration

Kuffs1978

We're keeping up the monthly payments (at the same level as when the PPI premium was being paid) and just want to clear the loan as it should have been without the PPI, as soon as possible. We had really hoped we would be looking forward to resolving this soon, but it looks like another long, tiring, arduous battle to get what we're owed could be on the cards.

phoebe1989seb

Just seen this thread and agree wholeheartedly with other posters that it couldn't have happened to a 'nicer' (not) company.....well except Swift Advances maybe

I'm just very glad DH and I got our PPI refund from them when we did (see posts under old user name liberty lily) but wish everyone still struggling against them the best of luck and hope you all get back what you are due in the end........x

amersall

marshallka wrote: »

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.

Yes you are right Marshalka,if i remember rightly,they got the whole ppi back and interest,if this is the case people should seriously think about taking this off the loan,although this would depend on each persons financial situation

beana10

Any advice would be appreciated. We are in the middle of a claim with Norton Finance. Have recieved an acknowledgement letter and told of a response within 8 weeks (which should be mid March). Now that they have gone into Admimistration do we need to refer our case somewhwere else or just wait for the response letter from Norton?
Thanks

Kuffs1978

amersall wrote: »

Yes you are right Marshalka,if i remember rightly,they got the whole ppi back and interest,if this is the case people should seriously think about taking this off the loan,although this would depend on each persons financial situation

The irony is that the PPI rebate of £1826.44 is pretty much all that's left in capital repayments of my sister's loan (although this is whilst the PPI, the interest it's accrued etc, has been part of the repayments) I've said it many times before but I am certain she's paid more interest than she should have, but we have little hope of this ever being resolved. If it wasn't so expensive I would take my sister and move abroad, as this country really has gone to the dogs and greedy bankers keep getting richer whilst making the rest of us suffer.

themass

A reply from the FOS

I can inform you that we are aware of the current situation regarding Norton Finance. However, we are yet to receive any instructions on how to go forward with these cases.

I apologise that I cannot give you any clearer information at this time, but I will ensure that you are kept fully informed with any updates we receive.

appears they are not sure what to do either in my case even if they find in our favour we can not claim back from Norton anyway so it has to go FSCS.

magpiecottage

Stick with FOS for the time being. If and when Norton Finance is declared "in default" by the FSCS, FOS will forward it to them.

blakeney

have been with the fos for two years about missold ppi via norton so does this mean here we go for another two years sue

yellow3

Hi guys
Just wondering how long it typically takes for a company to be declared in default?? Are we talking months or years?? Ha ha
Keep checking fscs website but no updates as yet
Y

daybreaker123

Norton made 12 million profit last year, of course that will be Norton Loans and Mortgages, the new company