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Has anyone on these forums ever had a loan from Nemo Personal Finance ? (nemoloans).
I found their rate great for a secured loan, but when we had a new loan from them we were pressurised into keeping the PPI with them, so just wondered if anyone else has had these experiences with this company-thanks.
Hi
Welcome. No i have never personally heard of Nemo, try reading the small print they may well be a subsiduary of a major company.
Try posting here http://www.consumeractiongroup.co.uk.../general-debt/ someone there will point you in the right direction.
AL
------------------------- CAPITAL ONE * SETTLED*31st Oct 06 HBOS *SETTLED* 8th Oct 06 WOOLWICH *SETTLED*12thJan2007 Monument (Barclays) *SETTLED*10thMar2007
after learning that we can cut our monthly outgoings by moving our small mortgage to be with the same company as our big one we asked for a settlement quote..
we originally borrowed £25.500
we have been told to settle the account we will need to pay them..£26,658.19
we have paid Nemo £245 a month for the past 29 months, totalling £7105.
and they still want £26,658.19
where do we stand, please please help any advice gratefully recieved
Do you still have all the original documentation from when you first took out the mortgage. if you do, have a check to see what it says in relation to Early Settlement Charges (ERC). You may find that you have to pay a percentge of the loan on top of what is outstanding.
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No it shouldn't make any difference. If you take out one of these secured loans, there usually is an early settlement charge. It should be in the terms & conditions you got when you took out the loan
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yes they are on the back but we just wasnt aware when we originally took the loan, it just seems so wrong that they have had that much money from us already and that they still want more than we originally borrowed, is there any course of action we can take,?
i mean, we are perfectly to happy for them to have the money we have already paid against the loan and pay them the 25.000 we originally borrowed, but not a single penny more, ...is that legal??
Unfortunately, if they gave you the terms and conditions when you signed up for the loan, I'm not to sure there is anything you can do. When you signed the agreement you were agreeing to their terms and conditions.
Did you take out PPI? If you did, there maybe something you can do about that, especially if it was missold to you.
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I am trying to get some back from nemo at the moment i think they are just awful.
We borrowed £37720 18 months ago our onthly payments were £433 pm, last aug i was going to remortgage so i phoned to have a redemtion figure which was just over £38000 fair enough but in the end didnt remortgage until now so ive paid another 9 payments and just had my redemption figure of £41751, how is that?
I told the agent at nemo when i was taking the loan that it would be paid off within 3 years he said thats fine, he said the shorter i have the loan the more id have to pay back, so when i asked for this redemption figure i expected to have to pay back what we borrowed not over £3000 more plus the additional monthly payments theyve had of almost £4000 so that mean by having the loan and extra 9 months has cost me approx £7000 more how does that work?
I woulodnt reccomend anyone to go to nemo. Ive wrote to them posted yesterday explaining my complaint can i take it further as i feel ive been conned and misled and robbed of my hard earned money.
Has anyone on these forums ever had a loan from Nemo Personal Finance ? (nemoloans).
I found their rate great for a secured loan, but when we had a new loan from them we were pressurised into keeping the PPI with them, so just wondered if anyone else has had these experiences with this company-thanks.
di0430
The PPI with these isn't the usual the insurance is generally in the form of a loan which they add to your borrowings, you do not have to take it.
after learning that we can cut our monthly outgoings by moving our small mortgage to be with the same company as our big one we asked for a settlement quote..
we originally borrowed £25.500
we have been told to settle the account we will need to pay them..£26,658.19
we have paid Nemo £245 a month for the past 29 months, totalling £7105.
and they still want £26,658.19
where do we stand, please please help any advice gratefully recieved
peanutmuncher
If this is nemo I believe the cutoff for early repayment charges is 36 months, it should be in your contract, in tiny, tiny, tiny, tiny, print.
Nemo Personal Finance
with them, so just wondered if anyone else has had these experiences with this company-thanks.
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If you think my post was helpful, please feel free to click my scales 
Re: Nemo Personal Finance
Originally Posted by di0430
