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Companies in Default/FSCS Claims - Picture, London Scottish, Twopart
Comments
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QUOTE; Less rebate due upon cancellation - this is the amount you will receive back from the insurer if you cancel your PPI policy now. You will need to contact the insurer and arrange to do this direct £664.40
Honey
Does this mean that you are still covered on the policy and you will only not be covered if you cancel the policy direct with the insurers.
In regards to the £664.40 amount will this be reimbursed by the insurers in full or will this be amended on the monthly repayments we make to picture (ie, is this why your loan repayments go down a couple of quid!)
Honey if you dont mind me asking what were you paying to picture each month.0 -
No probs!Can I ask you a few things.;)
What the the amount you actually rcd. was it £12684.50
How many payments did you make.
How long was the term.
How long is left of the 5 year policy. I'm really surprised you are still covered. You would have to work out if it is best to claim the £664 or did you say your oh has been made redundant. May be better claiming.
Sorry for all the questions, just trying to add up amounts:beer:
£11,816.05 is payable - that was the amount on the cheque received today - FSCS are saying if I want to xc PPI then the insurer must pay me £ the remainder which takes my total compensation to £12684.50.
Term of PPI 5 years
Repayments started 11/2006 to present
PPI still in force - they confirmed the PPI is is never xc it remains in force to either run to the 5 years or I can xc and receive the small amount of compensation if I wish - PPI expires 11/2011
Honey 2 xx0 -
beaniebabe wrote: »QUOTE; Less rebate due upon cancellation - this is the amount you will receive back from the insurer if you cancel your PPI policy now. You will need to contact the insurer and arrange to do this direct £664.40
Honey
Does this mean that you are still covered on the policy and you will only not be covered if you cancel the policy direct with the insurers.
In regards to the £664.40 amount will this be reimbursed by the insurers in full or will this be amended on the monthly repayments we make to picture (ie, is this why your loan repayments go down a couple of quid!)
Honey if you dont mind me asking what were you paying to picture each month.
The way I see it beaniebabe is , honey2 is still covered unless she cancels herself. It may be worth holding on to this policy esp. I am am correct in saying Honey2's OH has lost his job..
I was working out the calcs and I think FSCS have deducted the ins amount from Honey2's claim. as she needs to claim this herself. I think she would get the whole amount from the Insurance as it is the FSCS who have worked it out for her. If they refuse, she has a good arguement here.
We didn't get any PPI rebate when we cancelled, I wonder if FSCS will take this into account
dialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0 -
No probs!
£11,816.05 is payable - that was the amount on the cheque received today - FSCS are saying if I want to xc PPI then the insurer must pay me £ the remainder which takes my total compensation to £12684.50.
Term of PPI 5 years
Repayments started 11/2006 to present
PPI still in force - they confirmed the PPI is is never xc it remains in force to either run to the 5 years or I can xc and receive the small amount of compensation if I wish - PPI expires 11/2011
Honey 2 xx
Cheers Honey2:A get back to you soon, Have to get the brain working again:beer:dialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0 -
Does this mean that if you did not cancel your PPI you could claim on it within the 5 years.No probs!
£11,816.05 is payable - that was the amount on the cheque received today - FSCS are saying if I want to xc PPI then the insurer must pay me £ the remainder which takes my total compensation to £12684.50.
Term of PPI 5 years
Repayments started 11/2006 to present
PPI still in force - they confirmed the PPI is is never xc it remains in force to either run to the 5 years or I can xc and receive the small amount of compensation if I wish - PPI expires 11/2011
Honey 2 xx0 -
No the isurer is told by the FSCS that if the customer contacts you to xc the PPI then please refund £664.40 if not xc the the PPI to run until 11/2011.The way I see it beaniebabe is , honey2 is still covered unless she cancels herself. It may be worth holding on to this policy esp. I am am correct in saying Honey2's OH has lost his job..
I was working out the calcs and I think FSCS have deducted the ins amount from Honey2's claim. as she needs to claim this herself. I think she would get the whole amount from the Insurance as it is the FSCS who have worked it out for her. If they refuse, she has a good arguement here.
We didn't get any PPI rebate when we cancelled, I wonder if FSCS will take this into account
My OH has been made redundant and therefore once the 30 days waiting period has passed we can claim for redundancy which will cover the monthly payments of £477.
I am not xc the PPI because there is also a life policy attached which covers both of us - in the even that either of us die (heaven forbid) then the remainder of the loan is paid off
Honey 2 x0 -
Yes I can continue to make claims for accident, sickness or redundancy until the policy expires.beaniebabe wrote: »Does this mean that if you did not cancel your PPI you could claim on it within the 5 years.
Honey2 x0 -
No the isurer is told by the FSCS that if the customer contacts you to xc the PPI then please refund £664.40 if not xc the the PPI to run until 11/2011.
My OH has been made redundant and therefore once the 30 days waiting period has passed we can claim for redundancy which will cover the monthly payments of £477.
I am not xc the PPI because there is also a life policy attached which covers both of us - in the even that either of us die (heaven forbid) then the remainder of the loan is paid off
Honey 2 x
That's what I thought.It would be well worth you keeping the ins in place then Honey2. Am I correct in saying the life cover is only for 5 years. You can then find a much cheaper cover at the end of the five years.dialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0 -
You are right the FSCS have already deducted the PPI amount of £664.40 from my cheque and they have told the insurer to pay me this figure if I chose to xc the policyNo the isurer is told by the FSCS that if the customer contacts you to xc the PPI then please refund £664.40 if not xc the the PPI to run until 11/2011.
My OH has been made redundant and therefore once the 30 days waiting period has passed we can claim for redundancy which will cover the monthly payments of £477.
I am not xc the PPI because there is also a life policy attached which covers both of us - in the even that either of us die (heaven forbid) then the remainder of the loan is paid off
Honey 2 x
Honey 2 x0 -
The compensation aims to put you back in the financial position you would have been in had you not received the insurance advice.
Thats the key phrase as to who is eligable for compensation, nothing to do with 5 years or single premium?DS1 12/10/04
DS2 13/07/06
DD1 06/12/070
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