PPI Reclaiming Discussion part 4

di3004

Thanks Marshallka;), my puter is running really slow.......

Oscar09

marshallka wrote: »

Its Lloyds TSB isn't it.

Is this the one

Lloyds TSB Registered Address:
Lloyds TSB plc
25 Gresham Street
London
EC2V 7HN

Thanks marshallka, I'll go post it now .

rosemahairy

Im fed up guys need a moan. Still bog all off welcome flipping finance or the ombudsman. Its been years........well it feels like that lol since february2008 i rang and end march 2008 when i put the form in. it must be me soon surely? sob sob:eek:

sandzb

hi :guys received an email from FSCS yesterday:

Thank you for your email about your claim for compensation against Picture Financial services Plc.

As you may be aware, the Financial Services Compensation Scheme (FSCS) acts as a safety net for consumers if a financial services firm is unable, or likely to be unable, to pay claims against it. This is usually when a firm has gone out of business or becomes insolvent. FSCS assumed responsibility for financial services compensation on 1 December 2001 when the Financial Services & Markets Act 2000 was implemented.

We consider all claims, and calculate any compensation payable, in accordance with our rules (as made by the Financial Services Authority), and our policies (as agreed by our Board of Directors). We cannot deviate from these rules, however much we may sympathise with the position of an individual investor.

Under our rules, we are only able to pay compensation on eligible claims where the advising firm has been declared “in default” by the FSCS. We issue a default declaration when we have satisfactory evidence that the firm in question is unable, or likely to be unable, to meet its claims, and when we have at least one eligible claim against the firm.

We have reached the final stage of our investigation into Picture Financial Services Plc to see whether it should be declared “in default”. We are satisfied from our solvency investigation of the firm that Picture does not have the funds to meet claims against it. However, the decision to declare a firm “in default” does not depend only on its solvency but also on our investigation of a number of claims against the firm to establish if there is a claim that is eligible for compensation under our rules.

The main reason why we have not to date issued a default declaration against Picture relates to the fact that Payment Protection Insurance (PPI) claims is a new area of work for the FSCS. When we receive new types of claims we have to undertake work to establish the criteria for the review of claims, in line with our rules and policies, which is both fair and consistent for all claimants. Unfortunately, for PPI claims this work has been very time consuming and involved liaison with others in the regulatory sector, as well as seeking guidance from our Legal Department, and recently the FSCS Board. Work in this area continues and we hope that we will be in a position to finalise our procedures in the very near future.

Our records show that we received your completed Application Form on 15 October 2008. Our aim is to complete claims within six months of receiving a completed Application Form or from declaring the firm “in default”, whichever is the latest.

Once we are in a position to declare Picture “in default”, we will process your claim as quickly as possible. Each claim is considered on its own merits and the facts presented. Therefore, as well as possibly contacting claimants for further information, it is likely that we will need to contact third parties, who are outside of our direct control, and ask them to provide relevant information. Although this may lead to delays in the time taken to process individual claims, please be assured that we will make every effort to finalise them at the earliest opportunity.

I realise that this may not be the reply you had hoped for and am sorry that I cannot provide a more positive response at this time. However, I hope my comments have explained the current situation.

di3004

sandzb wrote: »

hi :guys received an email from FSCS yesterday:

Thank you for your email about your claim for compensation against Picture Financial services Plc.

As you may be aware, the Financial Services Compensation Scheme (FSCS) acts as a safety net for consumers if a financial services firm is unable, or likely to be unable, to pay claims against it. This is usually when a firm has gone out of business or becomes insolvent. FSCS assumed responsibility for financial services compensation on 1 December 2001 when the Financial Services & Markets Act 2000 was implemented.

We consider all claims, and calculate any compensation payable, in accordance with our rules (as made by the Financial Services Authority), and our policies (as agreed by our Board of Directors). We cannot deviate from these rules, however much we may sympathise with the position of an individual investor.

Under our rules, we are only able to pay compensation on eligible claims where the advising firm has been declared “in default” by the FSCS. We issue a default declaration when we have satisfactory evidence that the firm in question is unable, or likely to be unable, to meet its claims, and when we have at least one eligible claim against the firm.

We have reached the final stage of our investigation into Picture Financial Services Plc to see whether it should be declared “in default”. We are satisfied from our solvency investigation of the firm that Picture does not have the funds to meet claims against it. However, the decision to declare a firm “in default” does not depend only on its solvency but also on our investigation of a number of claims against the firm to establish if there is a claim that is eligible for compensation under our rules.

The main reason why we have not to date issued a default declaration against Picture relates to the fact that Payment Protection Insurance (PPI) claims is a new area of work for the FSCS. When we receive new types of claims we have to undertake work to establish the criteria for the review of claims, in line with our rules and policies, which is both fair and consistent for all claimants. Unfortunately, for PPI claims this work has been very time consuming and involved liaison with others in the regulatory sector, as well as seeking guidance from our Legal Department, and recently the FSCS Board. Work in this area continues and we hope that we will be in a position to finalise our procedures in the very near future.

Our records show that we received your completed Application Form on 15 October 2008. Our aim is to complete claims within six months of receiving a completed Application Form or from declaring the firm “in default”, whichever is the latest.

Once we are in a position to declare Picture “in default”, we will process your claim as quickly as possible. Each claim is considered on its own merits and the facts presented. Therefore, as well as possibly contacting claimants for further information, it is likely that we will need to contact third parties, who are outside of our direct control, and ask them to provide relevant information. Although this may lead to delays in the time taken to process individual claims, please be assured that we will make every effort to finalise them at the earliest opportunity.

I realise that this may not be the reply you had hoped for and am sorry that I cannot provide a more positive response at this time. However, I hope my comments have explained the current situation.

Hi there

Thanks for posting up this.

It may be the same response as the others in regards of Picture have received, I'm sure they will clarfify, I do hope its very soon though, good luck.;)

busbyh

Hi everybody, haven't posted for some time.I've been having some technical difficulties.

busbyh

I TRY AGAIN!!.I have been
looking through ny daughter's paperwork (again) and note that she cancelled her PPI after 2yrs and the only form of rebate she received was a reduction in her monthly repayment frim £350 to £348 a massive £2. Can this be correct. ALso she requested a copy of her original agreemnent to compare with the original and on reading this I have just noticed the copy refers to another client. Their names are not shown at the front of the agreement just on the part re pre-existing medical conditions. It not only states their names but also there medical problems. - how bad is that!! Picture being declared in defaut is really aking it's time. Whoever said "PATIENCE IS A VIRTUE" was so right. Hope this gets through asI have been trying for the last week to post. Thanks to you all for all your help and advice as without you we would be at a loss and would have probably given up by now.
busbyhxxxx

melorablack

When you cancel single premium PPI policies you are not likely to get a fair or proportionate refund no matter how early into the term of the loan it is.

barneybeagle

di3004 wrote: »

Hi BarneyBeagle

I would contact the information commissioners office (ICO) ask if they can help on this like chase them up for you, here:
https://www.ico.gov.uk/Global/contact_us.aspx

They should have complied by 40 days maximum, tell the ICO about this and also check your account if you paid by cheque if they have taken the payment first if you can.;)

Thanks Di, much appreciated. I can confirm that GE Money have not cashed the cheque to date. I will contact the ICO. When originally raising a complaint with GE Money (Debenhams card) I had hassle with them. Over the phone they were useless and when sending letters saying they had not received them even though some nugget had signed for them?

If at first you don't succeed try try again until you nail them and get your dosh back!!!

Cheers
bb

Boyo

:mad:Hi,

I'm new to this site but would appreciate some advice. Over the last few years I've consolidated loans in an attempt to bring my debts under control. To enable me to further investigate, using the Martin Lewis template I requested my bank to provide details of all my agreements. Their reply (when it finally arrived) only provided a "true copy" of the current agreement, and nothing for the previously consolidated loans. They make a point of telling about Section 77 of the Consumer Credit Act which provides no obligation for the Bank to provide the original agreement. Whilst I'm fairly confident that the recent agreement hasn't had PPI aplied, I would be surprised if PPI was applied to the previous agreements.

Is there anything I can do to make my bank provide the details I need.

Regards

Boyo