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

Mammamia

gumbi wrote: »

Did I read the events of yesterday evening correctly or am I still asleep and dreaming?

Did I see that the 1st of the Picture cheques from the FSCS has hit the doorstep?!

If this is right then we have all finally reached the end of a very long road!!;)

Just my luck that my local post office is taking 10 days to get 1st class mail to us at the moment so I've now got the prospect of a nervous wait to look forward too......But I can think of worse things to be waiting for:p

anybody that get's their cheque post up right away so we can keep track of what's going on....Hopefully Dialysis & Beaniebabe 1st followed quickly by the rest of us.

It is very true, I got a cheque yesterday it's still sinking in - I'm looking forward to hearing everyone elses good news:beer:

beaniebabe

Mamamia
Did you get any letters from fscs or deloittes or was the cheque sent out of the blue?!

Mammamia

pinknico wrote: »

Just noticed that on Mammamias post there is a part which says reasonable rate of return, any clues what that is?

It wasn't explained, so I'm not sure what it means. Everything is now only just sinking in and I am trying to make sense of how this will effect my loan repayments. I have just wrote a letter to Picture and will let you know how I get on.

Mammamia

marshallka wrote: »

So if mammania paid all that off the loan then it should put her back into the position as if she never had the PPI (or thereabouts??). I just wish she was on so I could double check but none of her posts say the actual repayments... I could work it perhaps if I had those, don't know for sure but would like a go.

My monthly repayments are £811 and picture have told me this will be reduced to £805, not much difference, that's if I don't pay them this cheque, I haven't asked how much this would be reduced to if i did. I have asked for everything in writing and will let you know when i hear.

Mammamia

dialysis wrote: »

Not IF Pinknico when you get them, optimism hun lol christmas will be fandabidosy:rotfl::rotfl::rotfl:Do you know if Mammamia got a letter first from the FSCS or just the cheque?

Both at the same time

dialysis

Mammamia wrote: »

Both at the same time

Did you get this out of the blue or were you informed beforehand? Sorry for bombarding you with questions hun

beaniebabe

I am going to log off now and have sweet dreams about big fat cheques arriving tommorow. Good luck all picturites for the week ahead. Keep us all posted.X

dialysis

beaniebabe wrote: »

I am going to log off now and have sweet dreams about big fat cheques arriving tommorow. Good luck all picturites for the week ahead. Keep us all posted.X

Goodnight beaniebabe have lovely sweet dreams with £ signs:rotfl:

marshallka

Mammamia wrote: »

My monthly repayments are £811 and picture have told me this will be reduced to £805, not much difference, that's if I don't pay them this cheque, I haven't asked how much this would be reduced to if i did. I have asked for everything in writing and will let you know when i hear.

That is because the remaining interest owed on the PPI has now been taken off and all the rest has been paid over to you to EITHER pay towards your loan, which would put you back-(or as near to back) as possible as if you never had the PPI. This means then that your monthly payments would be near to as if you never had the PPI or if not paid to picture then you can use for other things BUT your repayments will be as above.

marshallka

Mammamia, I have just worked out that if you had say 200 months left on your loan (don't know the exact) then you will be saving only £1200 and i bet your PPI interest is far more than that. That is why I said that these redress's are not taking into account the REMAINING interest on the PPI. If that is all you are getting and not having your repayments reduced by whatever INTEREST WOULD have been repayable on the PPI then you are being done. I have been harping about this since last night.