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

Mammamia

di3004 wrote: »

That is very true Mammamia
I have made my 2 aware of our issues and not so much the younger one but my oldest who is almost 21, I tell him to take note, as he made a slight mistake the other week, he nipped to town for a new moby as his other has conked out and they sold him the insurance.....:eek:, I told him off and said "what did I tell you"? that was it I made him cancel it straight away as I have all phone protected anyway and for damage etc.

Lets hope now he have really learnt, I hope so.

I think they will, I would hate to see them in a bad situation like we have been in. So much worry and stress over the years. Anyway onwards and upwards - my aim is to be completely out of debt within 10 years and this now seems very possible

di3004

Mammamia wrote: »

I think they will, I would hate to see them in a bad situation like we have been in. So much worry and stress over the years. Anyway onwards and upwards - my aim is to be completely out of debt within 10 years and this now seems very possible

Good one Mammamia and a good win on the lotto would be nice as well wouldn't it? lol.

Good for you hun.:T:T:beer:

marshallka

Mammamia wrote: »

No it doesn't, but we have decided to pay off our car loan, as this saves us £366 per month and also 2 credit cards which will save us another £60. I know this is a bit short sighted, but we really need the extra money a month at present. (If we handed over the redress to Picture we would only be saving £180 a month) The adviser I saw said that we need to write to Picture to get the last 4 year's annual statements from them, which should give a breakdown of what was paid off the original loan and what was paid off the PPI. He said that they have actually broke the law by not sending us those statements on an yearly basis, so there maybe a further case against them!

Just wondering if anyone has been receiving statements from them?

Thats good then. At least you are able to reduce your other debts. I always thought these advisors say to you to pay off your secured loans (ie mortgage and secured) first as that is the ones that could take your home. I understand though doing it your way. You are able to afford to live.

busbyh

marshallka wrote: »

I know what you mean. But the only way to not get into debt is to work hard cause it all comes back on you in the end. We are all claiming this and that and there WILL be a time again when we need the banks, the banks will have massive interest rates to cover their losses here. We have turned into a claim nation and it will just go round and round. I understand why we claim though cause we feel hard done to sometimes but until there is a mutual respect (us for the banks, the bank for us) it will continue. Will it ever stop though????

I agree marshallka. My motto is if you can't afford to pay for it, you have to wait until you can. but everything has been made so easy to get into debt and the biggest culprits are building society/banks, giving out 125% mortgages. I remember the time, there was no way you could get a mortgage unless you has at least 10% deposit,
Also if we were all honest with ourselves, nobody is prepared to wait for anything any more for non- essential things.
Sorry if I am going on and on and on, but having seen the state my daughter and OH were in, in makes me like this.:mad::mad::mad: AND MUCH OF IT WAS AVOIDABLE, WHAT'S WRONG WITH NOT BEING ABLE TO GO ON A BIG HOLIDAY ABROAD!!!!!!!!!!!!!!!!!!!!!!!!! RATHER DO WITHOUT IT THAN BE PAYING FOR IT FOR YEARS!!!!!!!!!

Mammamia

di3004 wrote: »

Good one Mammamia and a good win on the lotto would be nice as well wouldn't it? lol.

Good for you hun.:T:T:beer:

A win on the lotto would be perfect

busbyh

Mammamia wrote: »

No it doesn't, but we have decided to pay off our car loan, as this saves us £366 per month and also 2 credit cards which will save us another £60. I know this is a bit short sighted, but we really need the extra money a month at present. (If we handed over the redress to Picture we would only be saving £180 a month) The adviser I saw said that we need to write to Picture to get the last 4 year's annual statements from them, which should give a breakdown of what was paid off the original loan and what was paid off the PPI. He said that they have actually broke the law by not sending us those statements on an yearly basis, so there maybe a further case against them!

Just wondering if anyone has been receiving statements from them?

No we didn't. Only ever received one in nearly 3 years and that was because we demanded it:mad:

Mammamia

busbyh wrote: »

I agree marshallka. My motto is if you can't afford to pay for it, you have to wait until you can. but everything has been made so easy to get into debt and the biggest culprits are building society/banks, giving out 125% mortgages. I remember the time, there was no way you could get a mortgage unless you has at least 10% deposit,
Also if we were all honest with ourselves, nobody is prepared to wait for anything any more for non- essential things.
Sorry if I am going on and on and on, but having seen the state my daughter and OH were in, in makes me like this.:mad::mad::mad: AND MUCH OF IT WAS AVOIDABLE, WHAT'S WRONG WITH NOT BEING ABLE TO GO ON A BIG HOLIDAY ABROAD!!!!!!!!!!!!!!!!!!!!!!!!!

You are right, I do think that maybe things will change now, as it will be harder for for people to obtain credit(thank god). I'm trying to teach mine that if they save and wait they will appreciate things alot more, and there won't be that sinking feeling afterwards that you have bought something you couldn't afford. We haven't had a holiday for 3 years and it hasn't killed us! I hope your daughter receives comp soon and will be able to get out of debt soon.

busbyh

marshallka wrote: »

The tories today were on about some sort of insurance for when you are unable to care for yourself and it was a one off for £8000. I don't know much about it but apparently you do not have to sell your home to pay for your care in a care home. I bet there will be so many complaints in years to come on this one.

Yes, I heard that one!!!!

Mammamia

busbyh wrote: »

No we didn't. Only ever received one in nearly 3 years and that was because we demanded it:mad:

That's interesting, I might get some advice from a solicitor cos they have broken the law.

Mammamia

I'm going to log off now, I'll catch up with you all soon x