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Hi, we sent our first letter stating our claim 8 weeks ago, we have now received a reply stating that according to their records when we took out the loan we were told that they only had one type of insurance product available, a single premium policy which would be added to the loan and was over a five year term. They say that we were quoted with and without the payment protection policy so we could choose if we want it or not. They say we were asked about any pre-existing medical conditions (we werent). They go on to say that the loan was taken out before they were regulated by the FSA or the GISC.
We consider we were missold the policy for the following reasons:
1. I was not asked about pre-existing medical conditions.
2. Due to the fact that we paid a single premium for the policy but did not see it throught to the end of its initial term after paying back my loan earlier than planned.
3. I was told that i had to have the policy to get the loan.
4. I was not told the policy was optional
5. I was not informed the policy would only cover the loan for 5 years.
Is there any hope or should we just give up?
Hi, we sent our first letter stating our claim 8 weeks ago, we have now received a reply stating that according to their records when we took out the loan we were told that they only had one type of insurance product available, a single premium policy which would be added to the loan and was over a five year term. They say that we were quoted with and without the payment protection policy so we could choose if we want it or not. They say we were asked about any pre-existing medical conditions (we werent). They go on to say that the loan was taken out before they were regulated by the FSA or the GISC.
We consider we were missold the policy for the following reasons:
1. I was not asked about pre-existing medical conditions.
2. Due to the fact that we paid a single premium for the policy but did not see it throught to the end of its initial term after paying back my loan earlier than planned.
3. I was told that i had to have the policy to get the loan.
4. I was not told the policy was optional
5. I was not informed the policy would only cover the loan for 5 years.
Is there any hope or should we just give up?
Hello and welcome,
They want you to give up, so they don't have to pay up
Reclaiming back PPI is not the easiest thing to do, and can take a bit of time, but you have to show them that you will not give up at the first hurdle
I presume that Norton are the brokers, so who is the lender?????
Has commission ever been disclosed
If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW
We had our final response from Norton saying saying no to our claim for PPI, we then reported them to the fos a few months ago. Today FOS have written to us stating that as Norton were not members of the FOS or GISC when we took out the loan there is nothing they can do. Reported to FLA and they cant help either. Do we have any other options?
This could be a last chance for you, I wish you luck.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
side a pile of LTSB 'fob-off' letters struggling to get out!
Posts
2,398
Re: Norton Finance PPI reclaiming help needed.
Hi Jessie
We are in a similar position as yourself, although as yet we haven't received a response from Norton - but I can guess what they are going to say.
I've had a look at the link aa provided and it appears to say that the Financial Services Compensation Scheme is for firms that were regulated by the FSA but are no longer in business, so I have a feeling they won't be able to help.
This seems most unfair, I don't know about you, but our claim is for around £10,000 inc interest and I can't believe we're not going to be able to get it back - it makes you sick that they can rip you off and get away with it
Anyway, don't give up - there may still be a way.
Regards,
Landy x
LTSB PPI on various loans (current/settled) - Refunded inc 8%
MBNA 1 Charges - Refunded inc CI
MBNA 1 PPI - Refunded
MBNA 2 Charges - Refunded inc 8%
MBNA 2 PPI - Refunded
MBNA 2 Accident Ins - Refunded
Swift Advances (settled) Mortgage Charges -Partially refunded
Swift Advances (settled) Mortgage PPI - Refunded inc CI & 8%
Sainsburys (settled) Loan PPI - Refunded inc CI +8%
Sainsburys (closed) Card Charges - Refunded inc CI + 8%
M&S Money (closed) Card Charges - Refunded inc CI
M&S Money (closed) Card PPI - Refunded inc 8%
Direct Line (settled) Loan PPI - Refunded inc CI + 8%
Norton Finance PPI reclaiming help needed.
the policy for the following reasons:
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Originally Posted by jessie15
