Hi all, fairly uneducated with such matters so i need assistance from the great minds on here. I've had a secured loan with the NEMO LOAN SHARK since 2007, an agent came to our home and promised us heaven and the earth, foolishly we believed him and signed up. It was a variable interest loan, however to our surprise when we hit a barrier- (my wife broke her back so lost half the household income) we appealed to NEMO for assistance and despite the Bank of England reducing the interest rates they increased our premiums and stated they were not obliged to cut their rates. Any way over the course we have incurred the charges outlines below. So I need to know what I can claim back and how to calculate what is owed to me as they have been charging us more interest based on the charges being added to the loan amount. >>>Since the start of the mortgage with Nemo, the account has incurred fees totalling £1,538.80 – this includes the fees for the current eviction. This was an accumulation of 6 declined direct debits from July 2008 to December 2013, each charged at £30.00. There have also been two home visit fees added to the account, one added in February 2013 and a second in August 2015. There was also a £50.00 charge for the Default Notice to be issued due to the delinquency. £118.80 for estate agents to provide a guide price valuation for the property to ensure there is sufficient equity prior to an eviction, this was applied in April 2015. The legal fees to obtain the Possession Order in September 2013 amounted to £490.00. In May 2015, 2 lump sum payments were received totalling £9,400.00 which cleared off £928.80 worth of fees. This means there are currently £610.00 in fees outstanding on the account – this includes the fees for the current eviction totalling £224.00. Therefore, the remaining fees are broken down as follows: · £314.00 for the eviction on the 21st April 2015. This compromises of £90.00 agent attendance for the application hearing and £224.00 in fees for the eviction. · £72.00 home visit fee · £224.00 for the eviction listed on the 14th July 2016 – yet to be added to the account

Hi I'm new to this so bear with me! We took a secured loan out in 2006 with Nemo Finance for £18,000 PPI was added to the tune of £4,000. I have contacted Nemo and they say its nothing to do with them because the PPI was arranged by the broker! The broker has gone out of business, we are still paying the PPI (and the loan) Nemo say I cant cancel the extra monthly payments for the PPI. We are both self employed so don't think we were even suitable for PPI anyway? Also, the first we knew about it was when we noticed it on the yearly statement. Any advice would be gratefully received!

I brought a new Citroenn Nemo Van just over 3 years ago, it is fitted with the 1400 HDI engine which has recently ceased, causing catastrophic engine failure. The Nemo has only done 24,000 miles and has been fully serviced. It was called in on one of its three recalls, 18 months ago, for new big end conrod bearing shells. The work was carried out at an authorised Citroen dealer. This all happened 4 months ago, and as yet, neither the garage or Citroen UK have made any attempt to help, even though this is obviously a problem with this engine. I know I'm not the only person who has experienced this problem, as several other forums have proved, but I wonder whether anyone has ever had any luck getting any help at all out of Citroen. I have now put it in the hands of the Financial Ombudsman to try and push Citroen to do the right thing, and if they do I will let everyone know. Any comments welcome

Hi Everyone, I am new to the forum and also relatively new to debt problems unlike my partner who has got a large debt problem. I am trying my best to help him, as he is tending to ignore it, and have searched for hours online and I am now asking for your help as the worry of it all is making me and my partner ill. I apologise in advance that it will be a long explanation as it has got quite complex over the years. Unbeknown to me, my partner took an unsecured loan out in 2010 with Nemo finance for what totalled up to 75,000 including a large amount for PPI (explained later), to pay off a mortgage (my partners) on a house he was left by his mum of around 43000. He used the rest for funeral expenses and put some in a pension scheme. When I found out he had done this about 2 years after, I knew it was totally the wrong thing to have done and there were many rows. Now all we want to do is get it sorted. The payments originally were £400 per month, a hefty amount on a salary of about £12000 per year. I don't think he should have been sold this loan on this basis and also that he was sold the loan to pay off a much lesser interest rate mortgage with a high street bank ( which though was a higher rate because he had had court injuntions for debts in his first marriage) was still taking out a much more expensive loan to pay off a lesser one, if that makes sense. He also accumulated a large overdraft at the bank because he couldn't make these payments and also bank charges etc for going into unauthorised overdraft. So his debts were spiralling.(He is always living in overdraft now which is about 1400. So my first question, was it missold in the first place??? Once I have a definite answer to this we can then move on to the next step of forgetting that and sort out what to do about paying it off. Thanks in advance for any help given towards this. About a year ago Nemo offered a reduction in the loan as we looked into the fact that there was a PPI on it that had been sold unfairly, they offered a reduction in the loan and gave 8% for redress etc and the loan was reduced to 37000 and payments reduced to 230 per month. I'm not trying a sob story as I know he was silly to take on this loan but I am disabled and he is on a low income and he has missed payments as he can't afford them. Consequently, he has got a letter from the company now saying that they will serve a Court Order on him to retrieve the money. They have offered him the alternative to fill out a budget form and he is now taking notice and going to fill it out. Now the second question, we have been looking into an IVA but this costs thousands, or bankruptcy, or if he could make some sort of lower payments to Nemo would this be the best way? and how would he be best approaching the company to do this and should we be able to ask them to freeze the interest payments? Or do we just have to follow whatever they say he has to do. There is not a lot of income left from his pay once bills, fuel, living expenses are paid out. I maybe should add that he lives with me, I was a widow and the house is mine fully paid off and that no loans have ever been in my name which I presume means that our home is safe but would they take my income into account? Best wishes to all for some resolution to our problems and any help offered would be gratefully appreciated. Blanko1

I am new to this site and am hoping someone may be able to help. In 2005 approx myself and my partner took out a secured loan with Nemo. In 2006 things happened and as a consequence we lost our home in 2007. GE Money were the mortgage lenders and they sold my house under market value for just enough to cover their own amount. this meant that there was nothing left for Nemo who were the second charge. At that time and for some time after I was unable to deal with anything and moved from one rented place to another. Nemo did eventually make contact a couple of years after by which time they informed me that they had taken me to court (something I knew absolutely nothing about). I told them that I disputed what I owed them and I was going to try and get the CCJ overturned as I hadnt been told. Then basically I did nothing, I was going through depression and was not strong enough mentally to deal with any legal proceedings so I just left it and heard nothing more from them until now! I have moved around quite a lot but have been at my current address a couple of years. They have tracked me down and are saying that they have been trying to contact me and I must contact them by a certain date to discuss how I am going to pay back this debt, which has now escalated out of control. If I dont contact them they will send one of their agents out and charge me for the priviledge. I dont know what to do now. I would really appreciate some advice. Many thanks MMK

won back ppi via ocean finance £25000.00 which i was told had to be paid off balance of loan did that and reduced monthly payment also received £10000.00 compensation paid directly to me that was 2 years ago recently checked annual statement and found nemo had added the £10000.00 back on to balance they now say there will be a shortfall of payment and require an increase in monthly payments till end of loan it works out my win will cost me £30000.00 any advice anyone

Hi all, In late 2006, my wife and I took out a loan from Nemo for c£23k with an up front PPI policy of around £6k thrown on top for good measure (I don't have exact figures to hand just now). We sold our property a year or so later and our solicitors paid off, from the proceeds, the loan, PPI and six months interest (you know, like they do), which astonishingly totalled about £29,500. A few things happened next: My wife had a breakdown after the close proximity death of both her parents My own mother died I presented a claim for my PPI in 2008 My claim was rejected with the usual 6 month Ombudsman notice The stress of my wife's illness and my own coming to terms with the loss of my Mum meant I never followed it up I later tried to go back to them to follow this up, only to be told that they had presented me with a final response and yadda, yadda, etc. Now, I cannot recall the exact reasoning behind my initial complaint, but it should be pointed out that I was and still am a Public Sector worker who would not have benefited from such a PPI at all, i.e. my sickness benefits at work covered a period of illness up to 6 months, fully negating the PPI policy's benefits. So, onto the subject title of the thread: Today I received a letter from Nemo stating that they have been told by the FSA that: Sounds good, yeah? But... Again, sounds good, just respond to them, but here's the kicker... So, from the timeline I described above, loan in 2006 and complaint in 2008, Nemo are saying they may reject it without consideration of its merits after 2012 or 2011 respectively. Are they bluffing, and indeed hoping, that I decide not to pursue this further?

I toke a loan out with Nemo about 5 years ago with PPI. When the loan was taken out I was woking for a company so decided that PPI was a good idea. Last year I was made redundant and decided to go self employed, my question is is the PPI now worthless. I called Nemo last month to dicuss and was told that they would still payout if I was not earning, but everything I have read online tends to say not. Can someone please confirm if the PPI is worthless, if it is all I want is the PPI stopped and pay the loan only. How would I go about having the PPI removed

Ive got a secured loan with Nemo personal finance that my brother has been trying to help me with, theres about £7500 outstanding from a £20k loan. My borhter offered them £1500.00 in full/final settlement but they have not accepted, he explained i could not make the repayments and that i was considering bankruprcy but that he was trying to work out a fair repayment to all debtors to save me from going bankrupt. They have now sent a letter to me saying that If I do not pay up they will issue proceedings. What im wondering is if i can bargain with them to reduce the debt to about £4000 and let me repay over 4 years. Do you think they are likely to accept or even consider such an offer or are they likely to tell me to get lost and come after my tiny little house! Im not trying to get out of the debt, I understand ive taken a loan out and following loss of my long term job together with arrival of baby am following hardship trying to keep head above water but with the repayment of £300 a month i just cant afford it. I can afford about £50 ! Any advice here would be greatly apprecited!

Hi, I am looking for some advise now that the banks seem to be refunding PPI. I took out a secured loan in 2005 with Nemo Personal Finance. It was done through a broker Bright Finance who no longer exist. I tried to reclaim the PPI on the loan as I believed that it was mis sold. Nemo said that they couldn't do anything as they never sold the PPI. I eventually went through the FCFS and got refunded what had been paid so far. However the PPI was not taken off my loan and I am still repaying the PPI. Is there anything that can be done to get this removed or because the broker no longer exists and I accepted the payment through FCFS is there nothing I can do? Any advice greatly appreciated. Thanks

Hello there I am after a little bit of advice, I was declared bankrupt in November 2009 and was discharged the year after, all my debts went into the insolvency, and I have moved on dramatically since then. I have been trying to clear my credit file and most of my defaults from 2006 are coming off my credit file within the next few months. But one is still going to be there until April 2015 and that is a Nemo secured loan I had with my wife, we lost our house back in 2008 and there was a shortfall on the secured loan, so as my wife couldn't afford to pay they went to court and had a CCJ against her, we don't own any assets and Nemo has agreed for her to pay £50 a month to pay it. My problem is that one Nemo still addresses me as if I own the debt, and sends out statements to that effect. And that they refuse to put the debt as settled , partially settled or closed, on my credit file it looks as if I still own this debt which legally I do not as it was on my statement of affairs, and as my wife is paying the £50 a month its reducing down on my credit file, which means that under the 6 year rule with statute debts it will be permanently on my file. My wife who I am still with can only afford that amount as she is working part time, and only her income is relevant to this debt. Its also marking as default on her credit file, even though she is paying something towards it. Many thanks - sorry about the formatting it will not allow me to put paragraphs in - very odd

Hello, im not sure if im posting this in the right place, so admins please move if needed I will start with the facts Mortage with GE money £75.000 owed secured load with nemo finance £17.500 owed council repaymet if sold with in 6 years £5000 owed current property value £82-85,000 both myself and partner declared bankruptcy on 29 march 2010 and it still stands we just had a repo hearing at county court by nemo, we are £4000 in arrears ( i know, i know ) . nemo went for possesion order and money order. the judge declined them on the grounds that we pay our standard monthly rate (£360) plus (£111) of the arrears each month. we can just make the payments but wanted to know what would happen as regards to money order while we are still backrupt if we decided to just let the repo go ahead GE money and council will get there money back, but nemo stand to lose a lot.... can they still chase us for money ?l and can it be dealt with under the backruptcy or when bankruptcy finishes we we still be liable for it ?? Hope someone understands what im saying here and can help many thanks

We have a secured loan with Nemo Finance which started in August 07, at the time I recall explaining to the staff member that I was covered for sickness at work but she made it clear that because of my credit rating (yes why give me a loan then), that it was better we took out PPI. Last summer my wife had a brief illness and was off work for 3 months so I submitted a claim, which wasn't the easiest thing I have ever done, which was agreed as valid a month later. It took them,being the underwriters, until the following January pay out and then direct to my account. Does anyone think I have a valid argument for refund even if they have paid on one claim.