Ocean Finance

Dovershark

Has anyone on here had any success claiming back PPI from Ocean Finance, either with or without a ruling from FOS?

I'm claiming £3000 PPI on a secured loan of £20000, which was sold to me as compulsory insurance. Ocean Finance are claiming it was not mis-sold, my claim is now with the FOS.

dunstonh

Forget what other people have succeeded or failed on because chances are you didnt speak to the same person when you set up the borrowing and your circumstances and reasons for complaint and the evidence that exists will be different.

What was your complaint reason?
Do you have evidence to support your complaint?

Dovershark

The complaint is that the PPI was sold as compulsory. I didn't need or want it, but I was forced by Ocean Finance to have it. By the way, I'm still in the same job as when I took out the loan. I have all the original paperwork, which has "PPI £3000" written in a big box on the front page.

magpiecottage

Dovershark wrote: »

The complaint is that the PPI was sold as compulsory. I didn't need or want it, but I was forced by Ocean Finance to have it.

Do you have evidence to support that allegation?

I'm still in the same job as when I took out the loan.

That is not relevant - you could not have known with certainty at outset that you would not be made redundant.

I have all the original paperwork, which has "PPI £3000" written in a big box on the front page.

Sounds like a single premium added to the loan.

That is far more likely to lead to your complaint being upheld.

dunstonh

The complaint is that the PPI was sold as compulsory. I didn't need or want it, but I was forced by Ocean Finance to have it.

That is a very weak complaint. Its likely an unprovable allegation. Do you have anything to support your allegation? If not, you can see why they rejected it as most of these types of complaint get rejected and only succeed on another failing or an auto payout.

Single premium, front loaded may be more successful. However, that would depend on the disclosures given at the time.