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

Mammamia

marshallka wrote: »

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.

These thoughts have been going around in my head too, I had a conversation with Picture this morning and it sounds like the payments per month will be practically the same. I am not sure if this is correct or not and I have asked for a statement I how much I owe on the loan now and a breakdown of what I was paying per month before the comp, eg how much was the actual loan and how much was the PPI. Hopefully this will make things clearer and then I will get some financial advise. It is all very confusing!! Still over the moon though:T

beaniebabe

dialysis wrote: »

Still here just remembered whilst reading through posts its my wedding anniversary on Monday 24 years :eek::eek:I would have served my life sentance twice over now:rotfl::rotfl:

OMG Thats more than 3 mirrors!!lol :rotfl: Congratulations Dialysis and Hubby!XX

dialysis

Mammamia wrote: »

These thoughts have been going around in my head too, I had a conversation with Picture this morning and it sounds like the payments per month will be practically the same. I am not sure if this is correct or not and I have asked for a statement I how much I owe on the loan now and a breakdown of what I was paying per month before the comp, eg how much was the actual loan and how much was the PPI. Hopefully this will make things clearer and then I will get some financial advise. It is all very confusing!! Still over the moon though:T

Hi mammamia really pleased for you I have heard this before too that even without the PPI monthly payments dont go down much or not at all I cant work out why:mad:

Mammamia

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

Thanks Dialysis, it's got to be great news for all of us, I hope your cheque arrives soon.

dialysis

beaniebabe wrote: »

OMG Thats more than 3 mirrors!!lol :rotfl: Congratulations Dialysis and Hubby!XX

Thanks beaniebabe I dont know wether my hubby will class it as congrats or commiserations:rotfl::rotfl::rotfl:

dialysis

Mammamia wrote: »

Thanks Dialysis, it's got to be great news for all of us, I hope your cheque arrives soon.

Mammamia did you hear anything from them before your cheque arrived? did you know that you had won your case?

beaniebabe

He will class it as congrats when you get the cheque and are in the money lol!!!!X

Mammamia

pinknico wrote: »

It will be your decision to pay off the PPI I expect and get the interest off that way? If they have refunded all PPI to people nothing can come off Picture unless you send them some money?

Not got a clue but so excited!!!

THIS IS IT DIALYSIS, THIS IS IT !!!!!!!!

I understand what you are saying, but if you choose not to pay Picture the money, you are still being charged alot more interest than if you had never had the PPI in the first place.

marshallka

dialysis wrote: »

Hi mammamia really pleased for you I have heard this before too that even without the PPI monthly payments dont go down much or not at all I cant work out why:mad:

No, the only way your loan repayments will reduce is now to pay the redress over to Picture. I know its hard but they have done it this way and left you the choice.

sandzb

Mammamia wrote: »

These thoughts have been going around in my head too, I had a conversation with Picture this morning and it sounds like the payments per month will be practically the same. I am not sure if this is correct or not and I have asked for a statement I how much I owe on the loan now and a breakdown of what I was paying per month before the comp, eg how much was the actual loan and how much was the PPI. Hopefully this will make things clearer and then I will get some financial advise. It is all very confusing!! Still over the moon though:T

mammamia thanks for getting back to us after ur windfall. please keep us informed!