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

pinknico

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.;)

See this is where I get confused,how much of that interest that weve paid so far do we get back and how much of the capital? or is the 20% part of the monthly payment that goes towards the PPI divided 50/50 between PPI capital and PPI interest.

Sorry waffling

Just have to wait and see I suppose.

Thanks for that busbyh. The FSCS computer system was down today so couldnt find anything out their end.

pinknico

Lian1969 wrote: »

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

We will have to look into this sounds like they will just pay it all back and we sort it out unless whoever we are paying the money to now have to do the restructuring. Will try the FSCS again tomorrow.

beaniebabe

Lian1969 wrote: »

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

Lian
I got told by FSCS that any refund would be paid direct to us and I did clarify whether it would be upto us what we would do with the money (However this could mean anything). My theory has always been that we would just get back the PPI premium and then it would be upto us to liaise with Picture / Target and use it to restructure the loan. I dont think FSCS would be responsible for the restructure of the loans. If they did that then we would be in the same position as we were if we had not taken out the PPI.;)

Lian1969

pinknico wrote: »

We will have to look into this sounds like they will just pay it all back and we sort it out unless whoever we are paying the money to now have to do the restructuring. Will try the FSCS again tomorrow.

Thanks very much for your help.This is all to confusing,i wish they would put us out of our misery and tell us how this will work

Lian

pinknico

marshallka wrote: »

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% ?????

Thanks Marshallka, this answers my post. :T

pinknico

Lian1969 wrote: »

Thanks very much for your help.This is all to confusing,i wish they would put us out of our misery and tell us how this will work

Lian

I know! They have had long enough to put together a fact sheet of how things would proceed and be calculated etc.

dialysis

I know this is speculation but I think we will get the whole lot back and then we sort it out wether we pay it back and restructure our loan or not. I also dont think that the FSCS will organise the restructuring of our loans.;) Suerly it cant be that difficult to work out what we are owed after all if they give us the whole lot back they have all the sums on our paperwork

Lian1969

dialysis wrote: »

I know this is speculation but I think we will get the whole lot back and then we sort it out wether we pay it back and restructure our loan or not. I also dont think that the FSCS will organise the restructuring of our loans.;) Suerly it cant be that difficult to work out what we are owed after all if they give us the whole lot back they have all the sums on our paperwork

Yes i think the same Dialysis, and i think you have done enough searching to know . LOL xx

beaniebabe

dialysis wrote: »

I know this is speculation but I think we will get the whole lot back and then we sort it out wether we pay it back and restructure our loan or not. I also dont think that the FSCS will organise the restructuring of our loans.;) Suerly it cant be that difficult to work out what we are owed after all if they give us the whole lot back they have all the sums on our paperwork

I agree with you dialysis. I hope this is how it will work.:D Can't see the FSCS making themselves any more work. If anyone calls them tomorrow try and clarify this.X:T

dialysis

How many of us on here are classed as priority? as these are supposed to be dealt with first and we should then be first to hear if that is correct;)