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

busbyh

well, that was hard work catching up on all the posts. I just wish mammamia would log on and claify a few points.

I still think that deloittes would not have a comprehensive list of all the claims, only the one's they are dealing with.

I cannot see the FSCS advising them of any payments that have been made to customers that they have not been involved with. So how would the girl know who had been paid by the FSCS.

I'm not going with this one that there has been no pay outs

pinknico

marshallka wrote: »

But FOS pay out 8% statutory interest for things like this so that would not be the reason and it seems the FSCS don't (according to mammamia) so they do compensate (or so it seems) by paying interest on what you remortgage to and your next one was the Nemo loan which you had 8% on. I really cannot understand.

But the FOS would not have paid out anything on the first PPI as they couldnt do anything with it and this PPI would have been running through every loan after it if it had not been 100% rebated.

di3004

Even though the FSCS already had the details that we enclosed from them from the FOS, we are aware that Deloittes have already been given these details as well, sent from the FSCS.

So basically going by their email, if paid off they wanted to know who with, or if taken out a new loan with someone else to pay off that loan and so on, still baffling though.

marshallka

di3004 wrote: »

Me neither......

I think there are other reasons why they ask? Are they collecting data perhaps.... There has to be some logic in it as FOS pay the 8% to cover for this? I will have to try and find out as its bugging me as to how they work.

marshallka

pinknico wrote: »

But the FOS would not have paid out anything on the first PPI as they couldnt do anything with it and this PPI would have been running through every loan after it if it had not been 100% rebated.

But don't FOS already cover for that when they add on 8% statutory interest? What is the 8% statutory interest for then? If that is the case and we paid off our loans with co-op onto the loan with FP then the same thing? I thought that was why we had the interest added on. In fact anyone that consolidated with loans that included PPI onto another loan (with another lender) is also in the same boat and continuing to pay PPI remainder then. Is that what you are saying pinknico?

di3004

If remortgaging or settling - like when your borrowing again to pay large amounts off, wonder if it affects the rate your given perhaps?

Just a thought but I have not got clue.

Even though this would not affect mine in the end as its done and dusted on that one.

busbyh

Thinking back to a conversation with deloittes several weeks ago, they said they make the recommendation to FSCS as to whether there is claim

Looking back at di's email it states FSCS authorise and issue FINAL DECISION, it doesn't say it makes it.

have I read that right

di3004

Confusing isn't it?
Maybe the payouts come from the FSCS etc...and/or confirmation.


The final decision is authorised and issued by the FSCS once the work has been completed.

pinknico

The 8% the FOS pay is the interest that they think you could have earned on the money if you hadnt given the money to PPI payments.

The FOS would not have paid 8% for Di's first PPI as they could not deal with any part of that PPI.

di3004

I'm gonna go for a nose on various sites tonight and see if I can find anything about the FSCS and the payouts etc, and also check on Picture as well, while I'm at it if I can.;)