PPI Reclaiming Discussion part 4

showergirl

Hi Everyone

I have had another pm from Martin

He is going to try and put something in his newspaper article. Going to look into it Monday.

But he did say that it may not be easy as the company has no reputation to uphold to

Whatever he could do though may help

Dialysis just sorry this has come too late for you

dialysis

showergirl wrote: »

Just really down that it is too late to help Dialysis

Hi showewrgirl thank you hun thats really kind of you to think of us and to PM Martin you are wonderful:A:A:A I dont know what to say the support we are getting is so fantastic you are all going out of your way to help us. Thank you:A:A:A
edit Just read your post about Martins reply great news if it helps stop repossessions in the same situation as ours then that is brilliant thank you again showergirl and thank you Martin

di3004

showergirl wrote: »

Hi Everyone

I have had another pm from Martin

He is going to try and put something in his newspaper article. Going to look into it Monday.

But he did say that it may not be easy as the company has no reputation to uphold to

Whatever he could do though may help

Dialysis just sorry this has come too late for you

Thank you Showergirl.:T;)

It will all help and to ask someone like Martin to get involved with this, it will surely help all the more, brilliant work Showergirl and we all appreciate this very much, thank you.:A

marshallka

showergirl wrote: »

Hi Everyone

I have had another pm from Martin

He is going to try and put something in his newspaper article. Going to look into it Monday.

But he did say that it may not be easy as the company has no reputation to uphold to

Whatever he could do though may help

Dialysis just sorry this has come too late for you

Its more the lenght of time that it has taken to declare Picture in default that has been the hold up and also don't some "Picture" companies still trade???

Lets hope he gets it in the papers...!!

dialysis

marshallka wrote: »

Its more the lenght of time that it has taken to declare Picture in default that has been the hold up and also don't some "Picture" companies still trade???

Lets hope he gets it in the papers...!!

Hi Marshallka your right it is the time it has taken for default we have had our claim ongoing for 18 months, from complaint to FOS to date. Our loan was with Picture Financial who are in default, our loan now is with Picture Home loans, it sounds to me like the same cmpant but different name

amersall

hi shower girl, well done to you.:cool::cool: your fab, good job done:j:j thanx to martin as well

marshallka

dialysis wrote: »

Hi Marshallka your right it is the time it has taken for default we have had our claim ongoing for 18 months, from complaint to FOS to date. Our loan was with Picture Financial who are in default, our loan now is with Picture Home loans, it sounds to me like the same cmpant but different name

This is more the complaint we want Martin to help with then. Its not to blacken Pictures name (cause they are gone) but more to actually state that the length of time it has taken for the authorities to declare Picture in default (being over 18 months) has hindered your chances of being able to afford to keep your roof over your head. Its more the authorities that we want to change and the authorities being able to intervene in making quicker redresses. Picture have some companies going I think and I sure somewhere down the line they are related too.

These types of companies open and close more than the DFS have half price sales or safestyle have a bogofs on windows.

It was a similar thing with Di with click finance.

dialysis

marshallka wrote: »

This is more the complaint we want Martin to help with then. Its not to blacken Pictures name (cause they are gone) but more to actually state that the length of time it has taken for the authorities to declare Picture in default (being over 18 months) has hindered your chances of being able to afford to keep your roof over your head. Its more the authorities that we want to change and the authorities being able to intervene in making quicker redresses. Picture have some companies going I think and I sure somewhere down the line they are related too.

These types of companies open and close more than the DFS have half price sales or safestyle have a bogofs on windows.

It was a similar thing with Di with click finance.

Cheers marshallka youve hit the nail on the head there;)

di3004

Just had a nose on the FSCS website here:

http://www.fscs.org.uk/consumer/latest_news/2009/jul/Response_to_FSA_policy_statement/

FSA publishes new rules for faster payout

The Financial Services Authority today published its Policy Statement on banking and compensation reform. The FSCS welcomes the changes and believes they will contribute to improving consumer confidence.
Among the changes contained in Policy Statement 09/11 – Banking and Compensation Reform are:

• a requirement on deposit takers to maintain a “single customer view” to give the FSCS the information it needs to achieve a faster payout in the event of a failure;
• simplifying the FSCS eligibility requirements for deposit claims;
• moving to gross payout to depositors; and
• new disclosure requirements on deposit takers to provide information about the FSCS to their customers.

FSCS Chief Executive, Loretta Minghella, said: “We welcome the FSA Policy Statement, which marks the next phase of improvements to the FSCS that will benefit consumers. Both we and the industry have much to do to implement FSA’s new rules. Once we have done so, it will be much easier for the FSCS to respond quickly should a deposit taker fail. That will be good news for consumers and will help to promote consumer confidence.”

di3004

And this here FSA>.......

http://www.fsa.gov.uk/pages/Library/Communication/PR/2009/101.shtml


FSA announces changes to the Financial Services Compensation Scheme




FSA/PN/101/2009
24 July 2009
The Financial Services Authority (FSA) is introducing new rules for the Financial Services Compensation Scheme (FSCS) on banks, building societies and credit unions, which will see individuals and small businesses compensated quicker, and will ensure protection for increased numbers of people.
The fast payout rules, which come into force on 31 December 2010, will mean many individuals and small businesses will receive compensation within a target of seven days, and all payments within 20 days as required under the Deposit Guarantee Schemes Directive. This will greatly reduce uncertainty for consumers.
An additional change is that in future, payouts will be made on a ‘gross’ basis, which will effectively ring fence the deposits if a depositor has savings and loans with the same firm. Currently, any outstanding loan or debt held with a firm would have been deducted from the amount of an individual’s or small business’ savings before compensation was paid out. The new rules change this arrangement and ensure that the customer's savings will be protected to the limit of £50,000 and not used to offset loans.
Consumer awareness of the FSCS will also be boosted by a new rule which comes into force from 1 January 2010, requiring firms to provide information on the existence of the FSCS and level of protection it offers to depositors, as well as proactively informing customers of any additional trading names under which the firm operates.
Hector Sants, chief executive of the FSA said:
'To help underpin confidence in our banking system, individuals and small businesses must feel confident that their money is well protected. The new rules announced today will help deliver that confidence, build on the successful role of the FSCS to date, and aim to further minimise the potential hardship faced by depositors if an institution defaults.
'The FSA, along with HM Treasury and Bank of England, have set the FSCS a challenging target of delivering payout in seven days. The systems requirements that the rules introduce for banks are crucial to enable the FSCS to deliver fast payout.'
Key changes announced today:

• Ensuring that firms keep up-to-date information on customers to allow quick processing of claims by the FSCS if needed (the 'Single Customer View');
• Changing the payout of compensation to avoid customers who hold loans and deposits with the same firm having any debt deducted from their compensation (i.e. gross payout);
• Widening eligibility of the scheme to include more individuals;
• Introducing a requirement that deposit takers must disclose the existence of the FSCS and the level of protection it offers to help familiarise consumers with the services it provides; and
• If a firm operates under a number of trading names, it must tell its customers which of the different trading names are covered by a particular authorisation.

The FSA has introduced changes to the calculation of payment of compensation on term accounts, which will mean that compensation is calculated as at the date of default.
The FSA has also extended, until 30 December 2010, its interim rules which allow separate compensation cover for customers with deposits in two merging building societies. The same extension has been made for customers of a building society which merges with a subsidiary of another mutual society, and for customers who deposits are transferred from a failed firm to another deposit taker where they already have an account.