Companies in Default/FSCS Claims - Picture, London Scottish, Twopart

marshallka

Going to my bed now but just wish i could use telepathy for dialysis cause she would be so excited now. Also anyone else who is being threatened with losing their home too. What a surprise that will be when she next comes on. Perhaps best she gets some sleep cause i bet she will be on a "buzz" tomorrow.

busbyh

marshallka wrote: »

I note they have also knocked off the rebate received when the insurance was cancelled also so I am thinking that mammania cancelled the insurance as there was a rebate in the calculation that was knocked off?? This would be how much the loan DID reduce by when cancelled. Not much though on a policy that cost 19k odd.

yes, maybe we will get something back off ours, as we didn't get a reabte when it was cancelled. We wait and see;)
catch up tomorrow

marshallka

Mammamia wrote: »

Comp was worked out as follows:-

Original PPI premium - £14096.75
Interest charged to date - £5619.34
Plus reasonable rate of return - £194.32
Less rebate due on cancellation with insurer - £427.46

Total £19,482.95
They have paid 90% of loss above £2000 - total £17934.66

:T:T:T:T

I still can't believe it, after all this time - there is light at the end of the tunnel and I feel like an enormous weight has been lifted.

Fingers crossed for everyone else xx

:j:j:j:j

How is the remaining interest that is owed on the PPI treated I wonder. If they have repaid the interest paid to date then how is the loan redone??

demir2424

I received a cheque from Picture today for my 3 year ppi rebate, immediately called the FSCS and asked what to do (they were as surprised as me - as they said last week to ignore ppi rebate letter as I was unlikely to receive it). I was told to bank the cheque and then send a photocopy to the FSCS so that this amount can be deducted from my compensation cheque.
It sounds like things are being sorted but in a strange sort of way - it has come at a good time though as I am 7 months pregnant, already have a 22 month old son and my husband has moved out (don't know whether to tell him as he will probably want half).

marshallka

demir2424 wrote: »

I received a cheque from Picture today for my 3 year ppi rebate, immediately called the FSCS and asked what to do (they were as surprised as me - as they said last week to ignore ppi rebate letter as I was unlikely to receive it). I was told to bank the cheque and then send a photocopy to the FSCS so that this amount can be deducted from my compensation cheque.
It sounds like things are being sorted but in a strange sort of way - it has come at a good time though as I am 7 months pregnant, already have a 22 month old son and my husband has moved out (don't know whether to tell him as he will probably want half).

Well done to you. I take it you also received all the PPI back then as well? Did they say what happens to the loan now?

marshallka

What happens to your LOANS now with Picture. If they are left as they are then you will owe to Picture ALL the PPI and Interest like in the original loan and if you used the redress that you have received to pay it off your Picture Loan then you are still going to owe the remaining interest (if you see what I mean). Have they reduced your Picture Loans by the interest that would have been due by you for the whole term.???

Although they have refunded the original premium and Interest paid to DATE there is still interest due for the remainder which is loads if your loan went full term.

If you work out the total cost of the policy including interest then its far more and I know that you have not actually been charged this full amount of interest but if the loans are staying the same then in effect you still owe the remaining interest...

Are they taking this off the loan? Sorry to be a pooper here but not intended that way. I can see things from the outside and if nothing is changing with the loans then you have still been done out of thousands and still GOING to pay the full price over the years for the policy.

dialysis

OMG I missed it all just caught up a little mammamia CONGRATS TO YOU I AM SO CHUFFED FOR YOU. Sorry I missed all this everyone, dog walking. I am so excited with mammamia gettin the whole lot back and so quick.:T:T:T:T We should be next then will catch up and post back ooh so excited :T:T:T:T:T:T:T:T:T

marshallka

dialysis wrote: »

OMG I missed it all just caught up a little mammamia CONGRATS TO YOU I AM SO CHUFFED FOR YOU. Sorry I missed all this everyone, dog walking. I am so excited with mammamia gettin the whole lot back and so quick.:T:T:T:T We should be next then will catch up and post back ooh so excited :T:T:T:T:T:T:T:T:T

You are going to have a good christmas diaysis.:T:T

dialysis

marshallka wrote: »

You are going to have a good christmas diaysis.:T:T

Thanks Marshallka I am so annoyed with myself for signing off early last night I missed all this good news. I was going to do allsorts today but now I am too excited and dont want to miss anything on here, staying at home now near laptop. And keeping an eye out for my postman again, ooh so excited. I cant work out how much I will get though dont understand this interest thing. I dont know how much I will have paid in interest. Marshallka I am so glad you are on site so I can talk to someone.:T:T:T:T

marshallka

dialysis wrote: »

Thanks Marshallka I am so annoyed with myself for signing off early last night I missed all this good news. I was going to do allsorts today but now I am too excited and dont want to miss anything on here, staying at home now near laptop. And keeping an eye out for my postman again, ooh so excited. I cant work out how much I will get though dont understand this interest thing. I dont know how much I will have paid in interest. Marshallka I am so glad you are on site so I can talk to someone.:T:T:T:T

Dialysis, I am going to sound a bit like an Owl now:eek:. IF the lot is paid back to you (being the PPI and interest to date) then as we know the interest over the term of the loan is loads more so we need to find out what happens to the remaining loan? If they pay you back all this and do not alter the loan at all then you and all others have in effect still got a lot of interest that you are being charged and not redressed on if you see what I mean. I wish someone would post on here exactly what they say about the remaining loan. If it stays the same then you are still making terrific repayments and its still secured on your home. If you make the redress they give you against the loan and they have not altered the loan at all then its still not enough to put you back into the position as if you never had the PPI.

If they redress and take the remaining interest off the loan and reduce your repayments then that is good.