Norton secured loan 2006 PPI?

[che30uk]

Just had a call from a CMC informing me that they have purchased my details in respect of a loan brokered by Norton back in 2006 that had circa £5k PPI on it. I have looked but I cant find the original paperwork from 06. My oldest statement is from 2008. The original loan was with SSPF and its now with Acenden. I vaguely remember seeing reference to insurance at the time.

My gut reaction is that this would be an FSCS matter in any event and all it needs it a claims form to them and they will instruct whichever agent deals with their scheme. Would not having the actual original paperwork showing the PPI be an obstacle to kicking things off with the FSCS? I am thinking that I could always send the CMC a £10 postal order with a DPA request if necessary to get what they have.

I am unsure as to where they got my details from, but what they have is accurate. I will be taking that up with the administrators anyway.

Any observations gratefully received.

cheers

[di30]

Re: Norton secured loan 2006 PPI?

Hi and welcome

Personally, I would have a go yourself without involving a CMC, this is also recommended by the Financial Ombudsman Service and the FSA/FCA associations, as well as banks/business etc, and there is less papework involved.

Have you signed anything with the CMC? if so are you in the cooling period to cancel this with them.

You can send Norton a template letter to the data dept for your SAR for £10 cheque or postal order and they have up to 40 calender days to comply.
Was it Norton that set up your loan? (If so its them you pursue).

If the business are no longer active to complain, (the data dept should still hold details), then you email or ring the FSCS for a reclaim form, then once you received any info from Norton, complete the form and copies of the relevant info they require.

Now if there was a lender involved (who you paid the loan back to each month by direct debit) you can always SAR them for your information.

CMC will charge fees, sometimes they can be work out costly by using them, by having a go yourself and succeed, you will get to keep all your refund.

Ask for further help if required x :tinysmile_twink_t2:

[che30uk]

Re: Norton secured loan 2006 PPI?

I have received the paperwork from the CMC. Their charges are 25% plus vat.
I have now found a photocopy of the signed loan agreement from April 2006, 1st signed page only. This shows a PPI premium of £5k which it looks like I am still paying on a 22 year mortgage. The deed is registered in May 2006. Three things now occur to me:

1. By having the signed agreement with SPPL and not from Norton Finance who brokered the loan/PPI, can I go straight to the FSCS?
2. I lost my job in 2008 and being unaware that I had PPI I covered the mortgage payments after going into arrears. Can I reclaim those mortgage payments? (these facts show that I was unaware of what I had been sold)
3. What effect is there on the ongoing PPI element of my mortgage payments? and is the "Unregulated Credit Agreement" actually enforceable, as I am an owner occupier and was at the time of the loan which I signed for on the 26th April 2006, was not varied or supplemented prior to March 2008. (thats 4 things!)

thanks very much