PPI Reclaiming discussion Part III

marshallka

Mammamia wrote: »

I have a claim against Picture and have had a similar reply from FSCS, they can't give me any time schedule when they will be able to look into my claim. My guess is that it could be months before Picture have being fully investigated and then the FSCS have to decide if the claim is valid under their criteria (whatever that is). My concern is that I am managing my debts now, but it is looking highly likely that my husband will be laid off, and with only me working, I will only be able to afford to pay the mortgage, but not Picture. Does anyone know what happens in this type of situation, as there is no available equity in the house? Also, as I will continue to pay my main mortgage lender - do Picture still have a right to repossess?

As regards the not paying Picture question, then I think this would be answered better on the actual Loans thread as there are far more knowledgeable people on there. I have read of similar situations....;)

As regards Picture, Pinknico is also waiting for news of Picture from the FSCS so perhaps she could update you.

Sorry to have not been of any further help.;)

showergirl

Hi Marshallka,
Hope you had a good weekend. Haven't been able to read posts as I have been busy at work. Just one question do I send the paperwork to the ombudsman by recorded delivery.
Have a good day. Take care

marshallka

showergirl wrote: »

Hi Marshallka,
Hope you had a good weekend. Haven't been able to read posts as I have been busy at work. Just one question do I send the paperwork to the ombudsman by recorded delivery.
Have a good day. Take care

Hiya showergirl, its been an interesting weekend..;)

Yeah send it recorded delivery as you have a proof of it and also try and copy everything you have to do with the complaint too.

Have a nice day at work showergirl...;)

showergirl

marshallka wrote: »

Hiya showergirl, its been an interesting weekend..;)

Yeah send it recorded delivery as you have a proof of it and also try and copy everything you have to do with the complaint too.

Have a nice day at work showergirl...;)

Partner spent yesterday copying everything for me.
Thanks for the advice

Credit-Crunched

marshallka wrote: »

As regards the not paying Picture question, then I think this would be answered better on the actual Loans thread as there are far more knowledgeable people on there. I have read of similar situations....;)

As regards Picture, Pinknico is also waiting for news of Picture from the FSCS so perhaps she could update you.

Sorry to have not been of any further help.;)

Hi, jsut a few things but start with the most important, the Picture loan is a secured loan, as in it is a charge over your property and failure to pay MAY result in picture trying to force a sale.

This is not all doom and gloom as to do this, Picture will need permission from your mortgage company as they rank above picture in the charges register. There is no reason why if you pay your mortgage the lender will want to go through the costs of a repossession, it makes no sense for them to do that at all.

Secondly, after court costs etc and you say you have negative equty Picture will have nothing left. HOWEVER this should not be taken lightly.

You have done th first step by saking what to do before your husband is laid off (which hopefully will not happen)

I strongly recommend CAB, they will sit down with you and draw up a income/outgoing sheet. Listing all your essentianls and trying to ensure all your major bills are kept up to date.

They can then forward this to Picture who can see that you have no money to pay them and they can then try to arrange a new payment schedule.

Best of lukc, but rmemeber that asking questions and being pro-active if the most important thing, ignoring it will not make it go away. You have taken the first setp now take the next

maxdp

Thank you for explaining that CC that was most useful:D

Credit-Crunched

No problem

showergirl

marshallka wrote: »

I was trying to do it yesterday but showergirl was posting and I wanted to help with the PPI and tesco but got it out the way now. I would rather be helping people (as much as I can !) with their PPI and learning too.

Just read this post.
Sorry you could not get your ironing done because of me posting, it just goes to show what an angel you are putting others needs before your own.
Thanks

marshallka

showergirl wrote: »

Just read this post.
Sorry you could not get your ironing done because of me posting, it just goes to show what an angel you are putting others needs before your own.
Thanks

Thanks showergirl for that. Did you send the request off for a SAR too??

And that post above is true. I do love learning... I would not want to make the same mistakes again...

We used to talk about laws and ICOBs rules etc... sometimes boring but it helped in certain cases.

Seemed to have upset lots on here though with my suggestions...lol

Credit-Crunched

marshallka wrote: »

Thanks showergirl for that. Did you send the request off for a SAR too??

And that post above is true. I do love learning... I would not want to make the same mistakes again...

We used to talk about laws and ICOBs rules etc... sometimes boring but it helped in certain cases.

Seemed to have upset lots on here though with my suggestions...lol

When quoting ICOBS to lenders pay particular reference to Suitability, Eligibilty, product disclousre and price disclosure.

These are the main part of the ICOB tcf (treating customers fairly)

I am off to work now, but can elaborate later on if needs be, if not google each heading and they should be explained.

Most important is disclosure that the ppi premium was an additional credit.