Nemo Finance - URGENT help needed pls!!

paint32

Hi all,
I'm hoping that someone on here can help us.
Last August my partner & I took out a £50,000 secured loan with Nemo Finance although the origional application was with Ocean Finance.The loan was over 25 years & was a last resort.We are now having increasing difficulty in making repayments as the payments have gone up from £492 a month to £515 a month.We decided to go & see our mortgage company to see if they can help us, get it put onto our mortgage.
My partner phoned Nemo from the lenders office to ask why the insurance was so high & how much the monthly payments would be if we cancelled the insurance.She was told it was a single premium policy & the payments would drop to £507 a month! Whoooppeee a whole £8!! She then asked how much we would get back if we cancelled the ppi to be told that the origional premium was £12,616.31 & we would get back £1754.83!!
Also while gathering together our paperwork for the mortgage lender we discovered that we had no paperwork to do with the insurance! So we don't know who it is with & what we are covered for!
Does anyone think we have a claim against these dreadfull people & if so which claim letters should we us & should we also be contacting the FSA or FOS?
Please help before we lose our home

Candy0107

Bump.... Bump

paint32

What is that supposed to mean?????

Symbeaux1

Dont be offended by the 'bump bump' it just brings it forward in the forum. (for the people who look for the latest postings ) Somebody will be along soon I'm sure , sorry I can't help you. To my fortune I decided not to go with them a few years back. But my Sister has had a similar repayment hike,.

pania

hello paint. Yes to ditto the above a bump is a helpful way of boosting the thread back to the top again.
With regards to the insurance and PPI it sounds asthough they are having one over on you big style. I have heard things about this company before.
Take a look at martins PPI reclaiming thread and all the details you require should be on there. One thing that screams out though is that the payments have increased marginally and you are struggling. How about letting us see your statement of affairs and see if we can help anywhere?
Good luck and let us know how you go. xxx

paint32

Many Thanks all, when I have time at the weekend i'll post the in's & out's.

pania

looking forward to it. hope everything is ok?