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

marshallka

busbyh wrote: »

Hi Spud
Our loan was taken out in March 2006, but there was never any mention of Norton Finance. I am at a loss with this one

When I sent my claim letter to Picture in Aug 08, they returned it to me and said FSCS were dealing with all PPI claims and advised me to forward it on.

Its only if you used a broker to get the loan from Picture that your complaint lies with a broker.


Did any of you use a broker???

busbyh

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.

Excellent letter gumbi, so professional, what do you do for a living:D
Hope they reply soon
Thank You

honey2_2

dialysis wrote: »

What did they say honey?

Picture had phoned me and asked as my OH is being made redundant had we received the claim form through from the insurance. I said No and would call them again.

Instead I contacted FSCS got the lady - she was not making sense and said to me can I have your number and I will call you back I need to check something with somebody.

Honey2 x

busbyh

marshallka wrote: »

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?

hi marshallka, I think you would only get whatever the interest rate has been paid. That was the information they requested from us. They wanted the interest rates we had paid to date, since we settled our loan with Picture Which luckily enough we had, as we had not long received a statement and there were 3 different rates over the 10 months

gumbi

busbyh wrote: »

Excellent letter gumbi, so professional, what do you do for a living:D
Hope they reply soon
Thank You

I'm in Marketing and write copy like this every day for large IT companies and I'm sorry to say Finance companies as well so am fluent in business speak and Bulls**t.:o

Needless to say the Finance chaps have been a bit quiet lately as everybody hates them and they're not really marketing right now

Actually just had an initial response:

Thank you for your email.

I will look into the issues you have raised and will get back to you as soon as possible.

I would expect to hear more tomorrow and I'll post up when I know more.

honey2_2

honey2 wrote: »

Picture had phoned me and asked as my OH is being made redundant had we received the claim form through from the insurance. I said No and would call them again.

Instead I contacted FSCS got the lady - she was not making sense and said to me can I have your number and I will call you back I need to check something with somebody.

Honey2 x

She called me back and said On Friday of this week the FSCS will be posting a letter to me which will have everything I need!! She then said once you have received that letter you may if you wish contact the insurance company and make a claim against your policy for redundancy

Honey 2 x

busbyh

dialysis wrote: »

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.

I emailed FSCS last night and asked if deloitte had forwarded the claim to them. I received a reply today to sau No they had not:mad:

honey2_2

honey2 wrote: »

She called me back and said On Friday of this week the FSCS will be posting a letter to me which will have everything I need!! She then said once you have received that letter you may if you wish contact the insurance company and make a claim against your policy for redundancy

Honey 2 x

I said I take it that means my claim for compensation with the FSCS has not been successful - she said I do not know what the decision is in relation to your claim - but the letter will be posted to you on Friday coming and you will receive everything you need - if you then wish to claim then you may do so with the Picture insurance - she just kept repeating the same thing over and over. I am so confused!

Honey 2 x

marshallka

honey2 wrote: »

She called me back and said On Friday of this week the FSCS will be posting a letter to me which will have everything I need!! She then said once you have received that letter you may if you wish contact the insurance company and make a claim against your policy for redundancy

Honey 2 x

I noted on the new proposals on redressing complaints from the FSA that if you have made a claim on the policy BUT it was not a policy that you would have actually purchased then you can still make a complaint and it can still be missold. Its explained here

http://forums.moneysavingexpert.com/showthread.html?t=1978509

They would then take away from your redress the amount of a reasonable cost of a standalone policy or something like that. Its from the link Di posted. Have a read.

honey2_2

honey2 wrote: »

I said I take it that means my claim for compensation with the FSCS has not been successful - she said I do not know what the decision is in relation to your claim - but the letter will be posted to you on Friday coming and you will receive everything you need - if you then wish to claim then you may do so with the Picture insurance - she just kept repeating the same thing over and over. I am so confused!

Honey 2 x

P.S. she also mentioned that if I claimed before receiving the letter then my claim with the FSCS would be invalid!!!

Honey 2