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

pinknico

busbyh wrote: »

Thinking back to a conversation with deloittes, they said they make the recommendation to FSCS as to claim or no claim.

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

I have read that right

Yes the key word there is AUTHORISE, so more they confirm rather than make it. But can not authorise if they dont agree.

di3004

pinknico wrote: »

Yes the key word there is AUTHORISE, so more they confirm rather than make it. But can not authorise if they dont agree.

That sounds more like it Pinknico.:T;)

marshallka

pinknico wrote: »

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.

So they would pay interest for whole of the time the PPI was on the second loan (being Nemo) and then the same on whatever was on the remortgage. I understand it now. :beer:

Looks like the FSCS pay out then for statutory interest but in a different way then. I just thought that they did not do it and was confused. That is good. In fact my loan with FP was over 8% interest, it was 13.9% and most of our loans were over 8% too. I wish FOS would look at it like that too.

In fact it was only the other day i was wondering how long statutory interest had been set at this 8% as most of us were paying out far more a few years ago.

di3004

:rotfl::rotfl:lol, I was rattling my head over that one, so it seems like we got there then?:D:beer:

pinknico

marshallka wrote: »

So they would pay interest for whole of the time the PPI was on the second loan (being Nemo) and then the same on whatever was on the remortgage. I understand it now. :beer:

Looks like the FSCS pay out then for statutory interest but in a different way then. I just thought that they did not do it and was confused. That is good.

Thats right ,just at what ever rate Di has been paying on these loans/mortgage.

marshallka

pinknico wrote: »

Thats right ,just at what ever rate Di has been paying on these loans/mortgage.

Added some more on my post;):beer:

Going to watch Benidorm now.

busbyh

pinknico wrote: »

Yes the key word there is AUTHORISE, so more they confirm rather than make it. But can not authorise if they dont agree.

oh pinknico, my head is really done in now,so much if.s and but's, your right how can they authorise if they don't agree. Maybe it will trust deloitte's decision- I wish I knew!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I'm going to start thinking positive again:D:D:D:D:D:D:D:D

If nothing else it stops us from getting bored!!!

Did Deloitte contact Honey2's friend, I can't remember, or was it the FSCS


EDIT - Just checked and it was FSCS who contacted Honey2's friend!!

di3004

marshallka wrote: »

Added some more on my post;):beer:

Going to watch Benidorm now.

Not been following that Marshallka, is it good?

Catch you later.:beer:

di3004

busbyh wrote: »

oh pinknico, my head is really done in now,so much if.s and but's, your right how can they authorise if they don't agree. Maybe it will trust deloitte's decision- I wish I knew!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I'm going to start thinking positive again:D:D:D:D:D:D:D:D

If nothing else it stops us from getting bored!!!

Did Deloitte contact Honey2's friend, I can't remember, or was it the FSCS

Yes keep thinking positive.......:T:T good one hun :A

di3004

I know this is August's news but thought I would post it anyway......


Picture Financial Services declared in default

By Michelle McGagh | 15:13:09 | 07 August 2009

The Financial Services Compensation Scheme (FSCS) has declared Picture Financial Services in default, meaning hundreds of customers may now be eligible for a payout.
The FSCS is currently dealing with over 600 claims connected to Picture Financial Services, which specialised in payment protection insurance (PPI) for mortgages.
It hopes to make first payments this month and is gearing up to help more consumers who may be able to claim compensation of 100% of the first £2,000 and 90% of the balance, with no upper limit.
Consumers who think they may have a claim should contact the FSCS on 0800 678 1100 or email.