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

dialysis

busbyh wrote: »

I'm not too sure. They would probably look at the way your finances have been handled since your DMP and take it from there. Nothing to lose by enquiring;)

We tried to put our picture laon onto our mortgage but Northern Rock arnt remortgaging at present so no good.

busbyh

Lian1969 wrote: »

Hi all,
I called the FSCS, TODAY, got a really nice man (for a change).
They told me that they have not made a desion on how they will pay out.
He said that we would defo get all the payments back that we have paid in, then he said they could talk to the Loan provider to restructure the loan, or pay the whole lot back to us.

I think this is a waiting game im afraid. He said that this is all new to them with PPI claims.
Sorry that it has taken long to let you know about my call.

Lian xx

I take it from that conversation that we are definately getting paid out.:beer:

dialysis

busbyh wrote: »

I take it from that conversation that we are definately getting paid out.:beer:

It sounds like it busbyh its just a matter of when and how much

busbyh

dialysis wrote: »

Hope they give us it all back beaniebabe but your right it might be why it has gone to deloitte:mad:

I think it has gone to deloitte simply because they have not dealt with this type of claim before, and this is just to help them out. I just can't see them becoming involved in restructure;)

dialysis

busbyh wrote: »

I think it has gone to deloitte simply because they have not dealt with this type of claim before, and this is just to help them out. I just can't see them becoming involved in restructure;)

I agree with you busbyh it will take them too long if they get involved in the restructuring and I think also it has gone to deloitte cos there are so many claims to look at.;)

busbyh

Just checked the application frorm from FSCS .

SECTION K - PAYMENT ARRANGMENTS

We will generally make payment to the claimant identified in section A

We are also able to pay your provider/lender direct should you wish us to do so.Please indicate your preference in the box below


The compensation cheque will be sent to the address in section A (if you have not chosen direct payment to your lender) If you would like it to be sent to a different address, please give details below.

Hope it helps:beer:

dialysis

busbyh wrote: »

Just checked the application frorm from FSCS .

SECTION K - PAYMENT ARRANGMENTS

We will generally make payment to the claimant identified in section A

We are also able to pay your provider/lender direct should you wish us to do so.Please indicate your preference in the box below


The compensation cheque will be sent to the address in section A (if you have not chosen direct payment to your lender) If you would like it to be sent to a different address, please give details below.

Hope it helps:beer:

Thanks busbyh I dont remember filling that bit in its that b....y long ago but I think someone on here said before that the fscs will check with you before payment anyway but I think I will phone them and ask;)

busbyh

dialysis wrote: »

Thanks busbyh I dont remember filling that bit in its that b....y long ago but I think someone on here said before that the fscs will check with you before payment anyway but I think I will phone them and ask;)

I would think you signed for it to be paid to yourselves and I am sure they would have to confirm who the payment is to be made to:beer:

beaniebabe

dialysis wrote: »

I agree with you busbyh it will take them too long if they get involved in the restructuring and I think also it has gone to deloitte cos there are so many claims to look at.;)

If we do get the whole amount repaid to us. Would it be in our best interest to pay it towards Picture loan to reduce our repayments. As I have read in another post Picture could increase the interest rate anyway and our repayments could soon go sky high again and they would still make loadsa money from us:mad:

beaniebabe

dialysis wrote: »

We tried to put our picture laon onto our mortgage but Northern Rock arnt remortgaging at present so no good.

Thanks dialysis
I think it is the wrong time to ask any bank at the moment. I will make some enquiries when things pick up though.