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

dialysis

pinknico wrote: »

No dialysis, no indication on how long, I believe it is the data gathering from Picture that is happening now and how long it takes to get back to them to work on. From experience they have been told to give no timescale so there is no comebacks, which is why I am surprised that the FSCS mentioned some payments in August. But has been said probably to other companies.

Thanks Pinknico I am signing off now so goodnight all and we live in hope of news

pinknico

Night dialysis, take care.xx

marshallka

pinknico wrote: »

Or pay the 8%:mad:

Thank goodness the fscs have confirmed any money comes to us.

I am glad they have pinknico. i just googled that that i posted and wondered if they would make the redress's against the loans but if they have confirmed this then that is fine. It would not be treating you fairly and they would have a whole lot of other complaints in after about TCF in that they rip you off and then take it back again. It would have been a bit like a savings scheme for Picture if that happened. :rolleyes:

marshallka

Pinknico, can you not put in any other type of claims to the FSCS other than misselling? I think its so wrong about the 8% statutory interest bit and still cannot believe that they do not do it???? I would think how it reads on their site "if you have suffered financial loss" which is what you actually have done. You have been deprived of using that money each money just how you want to. I would complain the the FSA if it were me about that one. You ALL need to bombard them with complaints about it if they do not. It is FINANCIAL LOSS.

busbyh

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% ?????

The latter payments were £350pm based on 8.5% but the original loan started at 7.2% and increased gradually over the 32 months to 8.5%. It is difficult to be exact with a variable rate isn' t it
Cheers

busbyh

pinknico wrote: »

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.

Hi pinknico

We all waffle - it keeps us going;) I think it is as marshallka says, we just have to look at it as one loan. At the end of the day we have borrowed a set amount from them, regardless to how much was paid on the insurance, it is still one loan. After giving it some thought, if it was going to treated seperately they would have to show this on the paperwork, as they do with the bank loans.
I think I am right in saying this.So I don't hink it is a case of part being paid of PPi and part of loan.

busbyh

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.

I'm sure the refund is paid back to us and then it is up to us how we use it.;)

busbyh

dialysis wrote: »

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;)

i'm sure the fscs will not have anything to do with restructuring - it is not within their remit.

Longword

Hi All,

This really is turning into a marathon!

I have just e-mailed the FSCS today requesting a claim form and was wondering wether anybody knows how long it might take to recieve this from them?

Also can anybody confirm how straight forward the form is?

I am hoping by the time any claim I may have that most of you might have had your final answers back from the FSCS. I am guessing it may take any thing upto 18 months from now starting with a new claim?

Good luck to everyone.

Regards,
Longword

marshallka

busbyh wrote: »

I'm sure the refund is paid back to us and then it is up to us how we use it.;)

I would also all of you get complaints to the FSA as the rules for compensation state "financial loss" on the FSCS and if they repay without the 8% statutory they are not altogether paying the whole financial loss cause you have been deprived of using the money you have paid each month for the PPI to whatever you wanted. If you had not been paying this PPI you could have had more money at YOUR disposal - hence financial loss. I would argue it.