PPI success Norton

gizzy1994

Hi

This is my first post but I have followed the threads on here regarding Norton finance for some time. I have received a cheque today from FSCS but before banking it could someone confirm how my compensation should have been calculated ?

Any help would be appreciated.

pooch

gizzy1994 wrote: »

Hi

This is my first post but I have followed the threads on here regarding Norton finance for some time. I have received a cheque today from FSCS but before banking it could someone confirm how my compensation should have been calculated ?

Any help would be appreciated.

FSCS protection for insurance broking is 90% of any eligible claim with no upper limit.

gizzy1994

It does state that on the letter I just wanted to know if someone knew how they calculate the figures to ensure that the total was correct.

themass

The 1st 2k is 100% and 90% for the rest, may i ask how long yours took im waiting for the fscs on a norton claim too.

gizzy1994

Okay, do you know if the "8%" interest rate applies when FSCS pays out ? we submitted our claim to Norton approximately 6 months ago and returned the forms to FSCS in April and we received the cheque today.

themass

I may be wrong but im dont think the 8% applies, have they offered it to you? i thought only the FOS did this.

gizzy1994

no they haven't so it musn't apply, I am more than happy with the amount we have received back. Will bank the cheque on Monday hope you hear regarding your claim soon.

themass

Thanks,, im only 4 weeks in so a little longer to wait all forms complete and we had a call to say initial checks were complete and it is being processed.

Longword

Hi,
I am pleased to hear of your success against Norton. I didn't realise that they had gone into administration.
I've a couple of questions:
1. Did you contact Norton directly first or did you go straight to the FSCS?
2. Did Norton act as a 'broker' in your case? My loan is with Picture
3. What was your timescale start to finish?

thanks,
Longword

themass

We contacted Norton direct and they simply refused, so onto the FOS it went whilst waiting for it to be dealt with Norton went bust so the FOS then passed the file onto the FSCS, 7 weeks later upheld, my advice to you is contact the FSCS direct and have the forms sent out, file the claim yourself do not go to a claims company and follow it through it is simple enough.
Norton were the brokers and the loan was through Nemo.

Longword

Hi,

Thank you for the information.

I've e-mailed the FSCS earlier today but thought I would turn to the trusted people on this website too!

Do you know if you can download the forms from the FSCS or do they have to send you them?

I'll ring them first thing too.

Again thanks for the information and I'll let you know where we are up to.

Cheers,
Longword