PPI Reclaiming Discussion part 4

marshallka

dialysis wrote: »

the letters we recived were originally from Target but now the solicitor dealing with our repo is representing Picture Home Loans from the same address as Picture Financial any ideas anyone?

Dialysis, have a look at the bit i added in the post above. There is a good thread explaining it.

pinknico

Picture Home Loans (the ones who get our monthly payments) is who would get the money if you asked for the compensation to bepaid off the loan.

marshallka

mharzuk wrote: »

Hi
I have skimmed through this thread but it is huge so forgive me if I am asking something that has been asked before or is so obvious I should know better.
My question is being posed on behalf of my Mothers partner. He took out a loan with Lloyds in April 2005 for £10,000. The loan agreement also has Optional loan protection insurance, cash price £1789.79 with interest of £323.29.
I know nothing about loans or PPI but it seems to me his circumstances don't quite add up with what he might get back. He is a 74 year old pensioner. He works casually part time as a HGV driver, I don't think he has a contract its just as and when needed.
The specific reason given on the recommendations page states he needed the PPI "to cover for critical illness and hospitalisation, has no mortgage but protection needed as does not want to leave debt"
Is this something I should be looking into on his behalf do you think? Or does it sound quite reasonable?
Any advice or help appreciated.

Are you saying the PPI would not have covered him anyway??

pinknico

They probably just moved into the offices where everything was all set up for them!

dialysis

marshallka wrote: »

Dialysis, have a look at the bit i added in the post above. There is a good thread explaining it.

Thanks Marshallka that has explained the whole picture thing

i am sorry for waffling on guys:eek: I needed to get a few things of my chest and chatting to you all has hepled to relieve some stress you are all brill thanks for listening:T or reading lol

beaniebabe

dialysis wrote: »

hi beaniebabe no I havent had anything from the diarrhea people sorry about spelling lol like you I am worried now cos I dont remember signing that bit of the form and because we havent heard anything I have emailed fscs again about timescales but I dont expect anything further from them, I also emailed my MP again so that might be worth a try for you too, what do you think?;) Also what I dont understand is that Picture financial are now in default but the company who have taken over Picture Homes Loans is at the same address seems a fishy to me

Dialysis
I think as long as they confirm they have our claims we have little to worry about.
Give them another call just to make sure.
Did you complete any forms for FSCS as I dont remember doing any cos everything was done through FOS.
FSCS / dioralite have also confirmed they have all the information they need re my claim
I also have not received any letter from FSCS but have been informed over the phone that my case is priority. I am just wondering now if we have not received a letter because ours is being dealt with... You never know.;) Try and look on the bright side I know its not easy. XX

beaniebabe

pinknico wrote: »

Please dont worry Dialysis, if the FSCS says you are priority then they will be getting your info and working on it. Just call them to reassure yourself who is getting the cheque.


Wow beaniebabe, hope they were working on it that day, dont think anyone else has been told that.

TO BE HONEST PINKNICO I THINK THEY WERE GIVING ME A LOAD OF DIORALITE!!!!:rotfl:

marshallka

dialysis wrote: »

Thanks Marshallka that has explained the whole picture thing

i am sorry for waffling on guys:eek: I needed to get a few things of my chest and chatting to you all has hepled to relieve some stress you are all brill thanks for listening:T or reading lol

You're not waffling Dialysis, you are just worried and stressed. Glad its helped a little. It is confusing how these companies are allowed to work and get away with it. Things need to change.

mharzuk

marshallka wrote: »

Are you saying the PPI would not have covered him anyway??

Probably that is what I should be asking yes.
Forgive my ignorance on this but he hears adverts about reclaiming PPI, I just get the paperwork thrust at me and asked if he should have PPI......
I think he was just a bit shocked when he wanted to pay the loan off , thinking there was less than £1000 left but he hadn't taken account of the interest being weighted to the start of the loan and there was still over £4000 left to go. By his calculation he had paid over £1100 on a £10000 loan so it should have been finished by now.
To be honest I think he is starting to struggle with the monthly payments and just wanted to be rid of it.

dialysis

beaniebabe wrote: »

Dialysis
I think as long as they confirm they have our claims we have little to worry about.
Give them another call just to make sure.
Did you complete any forms for FSCS as I dont remember doing any cos everything was done through FOS.
FSCS / dioralite have also confirmed they have all the information they need re my claim
I also have not received any letter from FSCS but have been informed over the phone that my case is priority. I am just wondering now if we have not received a letter because ours is being dealt with... You never know.;) Try and look on the bright side I know its not easy. XX

They do have our claims as they have said they are priority we received a claim form from the fscs shortly after the Fos wrote and told us that Picture were in financial difficulty. This we sent back in August 2008. All the paperwork that the FOS had was sent to the fscs. Hopefully beaniebabe we havent heard cos they have everything they need and as you say they are dealing with now, there I am being optimistic now. lol