PPI Claims send Norton Finance in to administration
The finance company Norton Finance and Norton Insurance Services went in to Administration
due to the level of ppi claims the companies were experiencing.
Administrators were appointed on the 7th Feb and...
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PPI Claims send Norton Finance in to administration
The finance company Norton Finance and Norton Insurance Services went in to Administration
due to the level of ppi claims the companies were experiencing.
Administrators were appointed on the 7th Feb and since then an agreement has been reached for
the companies to be bought by Norton Finance and Mortgages which is part of the same group.
The company set aside £2.
2 million to deal with missold ppi but this has not been enough to cover
the amount of claims they have been experiencing.
The only reason the company has went into administration is so they can off load their PPI liability
to the Financial Services Compensation Scheme as they have said that all other creditors will be
paid.
What this means for people who want to claim for being missold payment protection insurance
from Norton is that they will now have to submit their claim to the FSCS.
Sadly this will only delay payments to people as in my experience the FSCS are not
Less
