Norton Finance PPI reclaiming help needed.

[ruby15]

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?

[enaid]

Re: Norton Finance PPI reclaiming help needed.

Am sure this is what they would want you to do, just give up. All the regulation thing means is you can't go to the FOS with this, doesn't mean you can't take them to court. I am sure someone will be along to advise you of the next best step and soon.
Enaid x

[ruby15]

Re: Norton Finance PPI reclaiming help needed.

Thank you Enaid. I want to carry on with it but I am not sure what to do next. Should I send off a SAR?

[enaid]

Re: Norton Finance PPI reclaiming help needed.

That wouldn't do any harm, the more you know about what they have on you the better imo. Any phone calls made to you that were recorded would also be included, as would all the details of your loan.
After that I think it would most likely be the threat of court, but am sure someone with more knowledge of this will be along to help on the next stage.

[pinknico]

Re: Norton Finance PPI reclaiming help needed.

What year was this loan and is it worthchecking with the FOS that they will not be able to help?

[Paule]

Re: Norton Finance PPI reclaiming help needed.

I am presuming that you have a copy of the terms and conditions so you know that these things aren't covered that you are claiming.

Before a certain date they werent regulated by the FSA, most were regulated by the FLA (Financing & Leasing Assocation)

[enaid]

Re: Norton Finance PPI reclaiming help needed.

"They go on to say that the loan was taken out before they were regulated by the FSA or the GISC".
You can check this by going on here http://www.fsa.gov.uk/register/home.do

The FLA can be contacted on 020 7836 6511. They can tell you if they company was or is a member.

The FLA also operate an online complaints form:

https://www.fla.org.uk/fla/complaints/index.jsp

Here is a letter from MSE it's straight to the point.

[insert your name


and address]

[insert date]

[insert name and
address of provider]

Dear Sir or Madam,

Account number: [insert account number]

.

[If your lender denies the mis-selling of your policy use this section or delete]
I am writing in response to your letter dated [insert date of letter from your lender], with regards the insurance sold with my [select fromloan / credit card / store card].Yourreference is [insert reference number of letter from your lender].

I do not feel your letter has offered a satisfactory justification that my policy was sold fairly, reasonably and within my best interests so I request that you look into my complaint again. If I do not receive a more favorable response within 14 days I shall be taking my complaint to the Financial Ombudsman. (If it's before the were regulated by FOS you would put FLA)




Yours faithfully,

[insert your signature]

[insert your name (printed

[hellhasnofury]

Re: Norton Finance PPI reclaiming help needed.

Hello Ruby,

Was Norton Finance the broker who arranged this ppi. If so who was the lender

Do you have a copy of your credit agreement???????

[ruby15]

Re: Norton Finance PPI reclaiming help needed.

Hi and thank you for all your replies, I do have a copy of the credit agreement. Norton were the Broker and the lender was First National.

[hellhasnofury]

Re: Norton Finance PPI reclaiming help needed.

Hi and thank you for all your replies, I do have a copy of the credit agreement. Norton were the Broker and the lender was First National.

Hello Ruby,

On your credit agreement did you pay a broker fee to Norton and is it stated on the credit agreement???????

Are you aware of any undisclosed commission that First National paid norton for point the business in their way

It would be interesting if you could get information from them relating to this.

Have you posted up your credit agreement on the site for others to have a look at omitting all personal details.

IMHO when you are approaching companies for mis-selling of ppi, you have to attack them from any angle that you can.

The issues I would be looking into, especially with broker and lender agreements

Mis-selling ppi
Commission based selling at point of sale insurance- undisclosed incentive payments
Compliance of the cca in aspects of Multiple agreements, loan details and ppi details listed separately and signed for separately.

Food for though and any comments welcome

[ruby15]

Re: Norton Finance PPI reclaiming help needed.

Hi Hellhasnofury, Iwill look out the agreement and have a look, if I can work out how to do it i will post it on here or send it you to take a look.

[ruby15]

Re: Norton Finance PPI reclaiming help needed.

Hi Hellhasnofury, sorry for the delay in coming back to you. I have had a look at the credit agreement and it says nothing about paying a broker fee. In a letter from Norton following my claim they informed me that they received £1300 commission from First national. I have been trying to post my credit agreement on here but for some reason can not (sorry for being so stupid) could I perhaps email it to an administrator for them to post it for me? I would appreciate any help given. Many thanks.

[enaid]

Re: Norton Finance PPI reclaiming help needed.

Ruby please email your documents to PK, he will then check you have removed all your personal details and post it for you.Enaid x
pkea@legalbeagles.info

[LuggerBugs]

Re: Norton Finance PPI reclaiming help needed.

This might be useful. Although, since it is on a freely accessible website, I'm at a loss as to why it says that potential borrowers are not allowed to read it. Cover your eyes everyone.

http://norton-introducers.com/loan-products.html

Secured loans are processed much the same as mortgage applications, with no upfront fees, valuation and legal costs.
Here at Norton Broker Services we pride ourselves on service. If there is anything you are having a problem with we can help.
Norton Broker services boast paying the highest commission rates in the Financial Intermediary Market. Your personal Account Manager will be on hand to discuss any referral, query or case updates.
We have a varied panel of lenders that have products to suit all circumstances.
Here is a quick guide to show you the areas we specialise in for secured loans –

• Loans from £1000
• Terms 1 year to 40 years
• Loans available on rental properties
• Self employed self certification available
• Various loan purposes available
• Will lend behind adverse mortgage lenders
• Interest only option available
• Various sources of income acceptable
• Enhanced loan to values available
• No restriction on age with certain lenders (Legal advice may be required)
• Properties in pre-emption acceptable
• Non-traditional property constructions considered
• Mortgage arrears, defaults, CCJ’s and credit arrears accepted
• Bankruptcy, Voluntary arrangement and shared ownership cases considered

THE ABOVE INFORMATION IS FOR USE BY INTERMEDIARIES ONLY AND MUST NOT BE GIVEN OR DISTRIBUTED TO POTENTIAL BORROWERS
Unsecured loans are also available, your customer must be a homeowner, and there are no upfront or legal costs.

[ruby15]

Re: Norton Finance PPI reclaiming help needed.

Hi, sorry for the delay but just sent my letters to PK for him to post on here, hope someone can help as I really dont know what to do now. Many thanks Ruby
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Hi again, I have just checked the FSA register and its says that Norton were "appointed representatives" what does that mean?