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Ocean Finance PPI help
Rustu
Posts: 2 Newbie
I had a secured loan with this company and just wondered if anyone had any luck getting the PPI back - this was back in 99 - 2000
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Comments
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Unwise to pin your hopes on the success of others. You need a solid mis-selling complaint, but that company are no longer trading and your finance is pre-regulation (2005).0
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Just had seen a few other people claiming this back - thanks for the info tho0
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The problem is that it's pre-2005 and Ocean Finance were not regulated back then so don't have to consider any complaint (if they were still trading) - you would have to take the route of complaining to the underwriter or insurer who have no liability in theory as they didn't sell you it but may look at the case if you complain.
I can't really see much on the forum about wins from Ocean Finance before 2005 (after, when they were regulated, they pretty much always lost as they used front loaded PPI) - if it had been in 2005 or later you could have applied to the FSCS but pre-2005 I'd not waste my time on it, you won't get a penny from a company that is not tradingSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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