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

beaniebabe

Thanks for that Halpin. Any information is good.

marshallka

marshallka wrote: »

Your total cost of the PPI over 20 years would have cost you £41376.00:eek:

beaniebabe, your loan was 20 years and not 25 years so I have worked yours out wrong in that the above is for 300 months. Its should be £33100.80.

Sorry - getting mixed up on the 20 and 25 years one.

Makes a difference to this post too

Originally Posted by marshallka
Beaniebabe, your total loan and PPI would have cost you £240000 but this is split between 41376 being PPI with interest and 198624 being the actual loan and interest. You have made 24 repayments but the repayments are split between £137.92 being towards the PPI and £662.08 towards the loan. You made 24 repayments against the loan being in total 15889.92 so owing on the loan would be £182734.08.

Should be total loan and PPI 800 x 240 = 192000. Split between 33100.80 PPI and interest and 158899.20 Loan and interest. You have made 24 repayments but the repayments were split 137.92 being PPI and int and 662.08 being loan and int. You made 24 repayments agains the loan and PPI of 662.08 and this should leave a balance owing of £143009.28 so lots less owing than before. :T

beaniebabe

marshallka wrote: »

beaniebabe, your loan was 20 years and not 25 years so I have worked yours out wrong in that the above is for 300 months. Its should be £33100.80.

Sorry - getting mixed up on the 20 and 25 years one.

No problem Marshallka

At least The amount is less!!:T

dialysis

Halpin wrote: »

Hello All,

I phoned Deloitte on Friday and had a chat with the most wonderfully friendly and helpful young woman!

I asked the questions: How long, How much and who gets the cheque?

Of course she could not say how long it would be, but hinted that is would be months rather than weeks. I asked her what my claim number meant in terms of processing order (I'm in the 210's) and she didn't know, so put me on hold to ask. She told me that generally it was processed in claim order but that (as you all know) priorites were being processed first. She also said that the number of claims was over 1000 now. It seems that some batches are processed differently but she couldn't go into deatils about this.

As for how much, again she could not comment. It's a case by case thing etc. I asked her why they were going back to (the now defunct) Picture for info and she said it was because they had to confirm the status of the account and the payments made since we first claimed. As the FOS have sided with me and all of the details are in the case they just needed this extra info to proceed. I got the impression that this is where any hold up will be.

As for Who get's paid, she told me that the person who is the primary claimant (first named on the form) will have the cheque made out to them, unless you put their a name in the "who gets the cheque box" on the FSCS form (page 24 - Section K - Payment arangements). It's still not clear to me how they work this whole mess out, and to be honest I don't want to waste too much energy guessing and getting my hopes up! but some idea would be very helpful when it comes to planning for the future.

I have had my case against picture since mid-2007 and although she didn't really tell me anything new she was the single most helpful person I have dealt with during this time! She was very appologetic for the length of time it took to find Picture in default. I got the impression of a group of people working as fast as they can but that any hold up was in the request for info from Picture (who were, let's face it, not that helpful when they were still in business!).

Anyway, not really sure what I'm trying to say here, only that I felt a bit better about the whole thing knowing that they are not sitting on their hands doing nothing and that, at the end of the day, it is picture (in some strange undead form!) doing what it always did, and making like difficult for the average person!

Thanks for the info halpin.:T;) she didnt happen to say how long the priority ones would take di she?

Halpin

dialysis wrote: »

Thanks for the info halpin.:T;) she didnt happen to say how long the priority ones would take di she?

Sorry... she didn't... but at least I kinda understand the reasons now. If you were Picture and you went under how much effort would you put into working through all of your old customer's accounts to give details to the FSCS/Deloittes? I'd hope it would be handle professionally, but at least I can see where the hold up may be.

So far, Deloittes have been very helpful/professional. Maybe the outsourcing of my future was a good thing after all!

dialysis

Halpin wrote: »

Sorry... she didn't... but at least I kinda understand the reasons now. If you were Picture and you went under how much effort would you put into working through all of your old customer's accounts to give details to the FSCS/Deloittes? I'd hope it would be handle professionally, but at least I can see where the hold up may be.

So far, Deloittes have been very helpful/professional. Maybe the outsourcing of my future was a good thing after all!

Thats good halpin I am pleased for you. I just have nt had any luck with talking to anyone from Deloitte I have left three messages on answer phones and had no reply and when I ring the FSCS they just tell me the same thing my claim will be dealt with as soon as possible. I have had no letter or phone call from anybody.:mad:

Halpin

I did get an answerphone a couple of times... maybe it's worth trying again?

busbyh

Hi haven't had time to call anybody today. Will try tomorrow.

Just found copy statement from picture with exact payments and interest paid over 32 payments on £43732.50 loan amount over 300 months.

£10,342.54 - payments made

£8662.13 - interest charged. = £270.69 per month

£1680.41- paid off loan. = £52.51 paid per month off capital.

Not sure it helps at all, but there you go.;)

Lian1969

marshallka wrote: »

I can only work out the total cost of the PPI and how much of the repayment each month went towards the PPI

PPI element is 19.97%
19.97% of each repayment went towards PPI and Interest being £84.47 so £84.47 x 240 = £20272 total PPI
You would get back how ever many repayments you have made and the balance would be taken from the balance of the loan and the loan redone without the PPI.

Im wondering if we will get all the premium that we were charged at the start of the loan E.G £9980 and all the payments that we have made?
Does any one know. Deolitte told me that they do not restruct loans!!

Lian

marshallka

busbyh wrote: »

Hi haven't had time to call anybody today. Will try tomorrow.

Just found copy statement from picture with exact payments and interest paid over 32 payments on £43732.50 loan amount over 300 months.

£10,342.54 - payments made

£8662.13 - interest charged. = £270.69 per month

£1680.41- paid off loan. = £52.51 paid per month off capital.

Not sure it helps at all, but there you go.;)

This is just a split of your capital and interest. The capital though is both the loan and PPI and interest of both the loan and PPI. Your repayments were £323.20 then??? I worked out on 350.00 so 20.14% of your repayment of 323.20 is actually £65.09 (this would be capital and interest of your PPI). Let me see if I can work back your APR here.... was it 7.5% ?????