Picture financial

barloo69

Mmmmm, am unsure where to start with this PPI reclaim, and not sure if posted this in the right place (feel free to move to correct place) Actually think Picture should have its own dedicated thread (if it has, please point me in the right direction)

After a messy martial split my finances have been spiralling out of control. After I faced up to matters and approached CCCS, they advised to have a look a close look at my finances and as a result I found MSE :money:. Thank god for Martin Lewis. Have successfully claimed bank charges and credit card charges and have now discovered that the secured loan I took out with Picture Financial 4 years ago has got PPI attached to it.

I remember at the time that the sale person / advisor was very insistant and highly recommended that I take out the policy in addition to the loan and Ive got to admit that I was sucked in with the promise that the policy would pay out a No Claims Bonus of X amount on the 3rd, 4th and 5th years of the loan.

I now realise that this NCB is nothing compared to the amount of interest that I have already and would be paying for the remainder of the 21 years !!!!!!!

My question / advice sought is this. From reading many threads in relation to Picture I understand that the company has gone down the swanee and that a decision is waiting to be made whether they are in default.

As I believe I am the subject of being missold this loan, should I commence with the reclaim procedure now and write to picture advising of my being missold or should I go direct to the FOS (or whoever is dealing with their admin)

Anybody got any advice ? Many thanks. :cool:

di3004

barloo69 wrote: »

Mmmmm, am unsure where to start with this PPI reclaim, and not sure if posted this in the right place (feel free to move to correct place) Actually think Picture should have its own dedicated thread (if it has, please point me in the right direction)

After a messy martial split my finances have been spiralling out of control. After I faced up to matters and approached CCCS, they advised to have a look a close look at my finances and as a result I found MSE :money:. Thank god for Martin Lewis. Have successfully claimed bank charges and credit card charges and have now discovered that the secured loan I took out with Picture Financial 4 years ago has got PPI attached to it.

I remember at the time that the sale person / advisor was very insistant and highly recommended that I take out the policy in addition to the loan and Ive got to admit that I was sucked in with the promise that the policy would pay out a No Claims Bonus of X amount on the 3rd, 4th and 5th years of the loan.

I now realise that this NCB is nothing compared to the amount of interest that I have already and would be paying for the remainder of the 21 years !!!!!!!

My question / advice sought is this. From reading many threads in relation to Picture I understand that the company has gone down the swanee and that a decision is waiting to be made whether they are in default.

As I believe I am the subject of being missold this loan, should I commence with the reclaim procedure now and write to picture advising of my being missold or should I go direct to the FOS (or whoever is dealing with their admin)

Anybody got any advice ? Many thanks. :cool:

Hi there

Picture Financial are actually being dealt with by the Finanical Compensation Scheme (FSCS), waiting to go into default, you can go direct with these.
Contact them and ask them for a form:
http://www.fscs.org.uk/

There are others here in the same situation and the FOS are passing these complaints onto the FSCS as they are unable to deal with a company who are no longer active.

Good luck.

However, if you want to be sure of this you could still contact the FOS and let them let you know:
http://www.financial-ombudsman.org.uk/contact/index.html

Normally the procedures are to complain direct to the company, and they have 8 weeks to resolve your complaint, if they have not done so or your not satisfied, then you move on to the FOS.

Please post for more help when required.;)

blueforyou

Hello Barloo,

thanks for posting. I have only just entered into PPI reclaiming - but have successfully done CCA and Bank charge claims.

Thanks to your post, I am now looking into Picture and am also interested in how things progress with them.

If there is another conversation going on on here, can somebody let us know the link?

If not, well I for one will use this one!:T

di3004

blueforyou wrote: »

Hello Barloo,

thanks for posting. I have only just entered into PPI reclaiming - but have successfully done CCA and Bank charge claims.

Thanks to your post, I am now looking into Picture and am also interested in how things progress with them.

If there is another conversation going on on here, can somebody let us know the link?

If not, well I for one will use this one!:T

Hi there

Please read my above post, and I wish you luck.

You may also find other posts in regards of Picture Finance in the actual above PPI Reclaim-discussion thread.;)

blueforyou

Thanks di, will do.

Have already done two letters for posting Tuesday on other firms!

barloo69

Dont know if Im being stupid here or what. Have been on the FSCS website but am unable to locate the form which you mention ? None of the others seem to fit .

A push please in the right direction (but not too hard Di, for I am only little !!) LOL ta.

di3004

barloo69 wrote: »

Dont know if Im being stupid here or what. Have been on the FSCS website but am unable to locate the form which you mention ? None of the others seem to fit .

A push please in the right direction (but not too hard Di, for I am only little !!) LOL ta.

Hi there

lol, awe bless you.....:A. Yoiur not being stupid lol, its slightly different to the FOS (Financial ombudsman service) where on FOS site you can download the form and to what I know of you cannot with the FSCS.

Right with the FSCS, you normally have to ring them, they then arrange to send you the form through the post.
You can ring or email them here:
I would ring them though, in case they take time getting back by email.;)
Contacts

• Call our Customer Services Team on: 020 7892 7300
• Email: [EMAIL="enquiries@fscs.org.uk"]enquiries@fscs.org.uk
  [/EMAIL]Please include your full name and address with any message you send us.

Just let them know you have a claim to put in for Picture Finance and have been told they are due to go into default, they will check their database as a normal procedure, and will then need your address details to send the required form.

There are other posters on here such as Pinknico, Gumbi and many more waiting and have been told it may only be a matter of a few weeks for them to be declared in default, then they will be looking into everyone who has claims with this companies completed forms to consider paying out. X

barloo69

Thank you kindly. As Tony the tiger says.........yoooooouuuuurrrr Grrrreat !

di3004

barloo69 wrote: »

Thank you kindly. As Tony the tiger says.........yoooooouuuuurrrr Grrrreat !

Thank you hun.:A

I'm sure the FSCS will sort this out for you, keep us posted, this will also be a help to others in the same situation as you in regards of this company, cheers and good luck.;)

Lozza001

I just want to thank you for the information on this thread. I have called the number given and they have asked me to write in with details of the claim I wish to make. I will do that tonight when I have my paperwork to hand. Fingers crossed. :rolleyes:

pinknico

All I can say is thank goodness for gumbi:A as all I get from the FSCS is a standard response email " we are looking into Pictures ability to pay claims against it blah blah blah":mad:

So once again gumbi many thanks and looking forward to your next post:D