Ocean Finance question PPI

-taff

Moneyineptitude wrote: »

This sentence is completely in error. FOS cannot be used for pre-regulation cases.

Forgot the 't on the end......
I was very tired.

benlms

-taff wrote: »

Forgot the 't on the end......
I was very tired.

There is an option to consider. If there was a lender involved, Ocean Finance could possibly considered as the "deemed agent" if the lender funded the PPI premium. There may also be a consumer credit license issue as Mr. Newey had an interesting vat avoidance scheme which effectively means that lenders were dealing with an unlicensed credit broker which may be sufficient to establish an unfair relationship under s140A of the Consumer Credit Act 1074 but you would to be careful about limitation period. For more information see European Court of Justice case C-653/11 concerning Mr. Newey.

[Deleted User]

Mr Newey won't be paying any redress..