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

marshallka

Is this the one asking for all details to be submitted etc?

pinknico

http://www.fscs.org.uk/consumer/latest_news/2009/sep/PPI_claims/

Thanks again Gumbi, have to admit I sent loads of paperwork with mine!

marshallka

pinknico wrote: »

http://www.fscs.org.uk/consumer/latest_news/2009/sep/PPI_claims/

Thanks again Gumbi, have to admit I sent loads of paperwork with mine!

I bet they are making out that its cause of paperwork missing etc that the complaints are taking time to complete.

pinknico

The common question being asked is about settled loans and who is the new lender.So they can work out that interest due.

marshallka

pinknico wrote: »

The common question being asked is about settled loans and who is the new lender.So they can work out that interest due.

So this is different to the FOS who give 8% per annum (like courts then)??

SO they are calculating this would be 8% on what you are paying now if you piled it onto a mortgage.

Say your mortgage rate was only 4%, does that mean that you only get it calculated at 4% per annum?

pinknico

Well we know the FSCS were never going to give the 8% and the fact they added 8% to the total from the time of Default was a surprise.

I believe if you have paid off your loan and PPI you will get the interest back you have been charged on the PPI part at what ever rate you have been paying on it since settlement. Which again was not expected and and is an un expected bonus.

pinknico

If I'm right the FOS dont give you back the interest you have been paying on the Ppi if you settled the loan and transferred to another lender but I may be wrong!

dialysis

gumbi wrote: »

Guys,
Sick of being confused and blindsided so have gone to the horses mouth to try and get some clear info.....see email sent to deloitte's this morning:


Thank you for your prompt reply....having seen the forums on MoneySavingExpert.com I know that you must be inundated with emails and calls at the moment, especially since we appear to be so close to a resolution.

Whilst I understand that the FSCS would make final authorisation on any compensation payments I would expect that decision to be pretty much based 99.9% on the outcome of your assessment and I am still unclear as to what parameters you use to determine the validity of a claim. Clarification of these parameters would be very useful as I could then post them on the MSE website and maybe stem the tide of desperate people calling for an update!

Most people like myself have been waiting for nearly 2 years and, whilst we are not blind to procedure, the flow of information has been ‘patchy’ at best. I’m sure this is largely due to the fact that the FSCS have not dealt with PPI claims until now and needed to set precedent, however since Picture were declared in Default back in July we are still none the wiser when it comes to the status of claims which has led to much stress and heartache.

My own case not withstanding I wander if somebody at Deloitte’s could answer the following questions:

· What criteria do you use to during your assessment?
· Does your assessment of the cases determine their validity?
· Is there any particular order in which cases are assessed, (Ref Number, date etc..)

This simple information would go a long way to easing the minds of a lot of worried people, some of who’s very property is dependent on the outcome of these cases, so you can understand the need for far better lines of communication.

I would appreciate you replying in an equally prompt manner as you did to my previous email and many thanks in anticipation.

Thats great Gumbi :T:T:T thank you do they usually reply to your emails straight away, I emailed deloitte and the FSCS yesterday but no reply yet, just wondering what is thier response speed like.

Longword

Hi again,

I have just spoken with the FSCS regarding my letter requesting a Claim's Form and I am being told it should be with me in a couple of days! Postal strike being blamed again!
Although I haven't been entirely honest because I didn't mention that the loan was taken out via Norton Finance.
Will this be a question included in the claim's form?
But to be honest I don't really understand how Norton can be held to blame because the issue of PPI was only ever discussed with Picture Financial staff and not Norton's staff. So it's me believe that Picture are the ones with the mis-selling issue not Norton!
I hope this helps and I will keep you all in the Picture as things progress.
Thanks,
Longword

dialysis

Just checked the FSCS website about PPI I am no way suprised that they are now saying some claims will be outside the 6 months mark. Saw that one coming a long time ago. I know they have a lot of claims to deal with but I am sure I am not alone here in thinking they have had our claims long enough to look into every aspect of them. :mad::mad: