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Companies in Default/FSCS Claims - Picture, London Scottish, Twopart
Comments
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At last - I have been trying to explain this exact point - the compensation is for bad advise not for mis-selling the PPI - the letter I got on friday from FSCS wasquite clear in the 1st paragraph that this is why I was being compensated.Just thinking (again) will have to stop this;)
FSCS's decison to give us a choice explains a few things to us all now.
Now we know why it did not have to be paid back to picture, some of us thought it would be.
We have been looking at it as a missold Policy, wheras they have been looking at it as BAD ADVICE, from Picture Therefore the policy must still be in force, and if it is, the rebate rule should still apply. As after all, that is part and parcel of the so called terms and conditions
Any thoughts on this one!!
Someone has posted about making claims that was the 3rd section of calculation - Less any payments made to you from making a claim - if I had claimed for 3 months sickness and the Insurance paid out £900 then this would have been deducted from my compensation figure - however the cash back was for ensuring that payments were made in full and in time and no claims had been made on the PPI - if this was the case then the bonus payment was paid - also if there were any payment made but were late or any arrears then the bonus payment would not be eligible. This is in the hand book that accompanied the loan papers. Also it states that if the loan is in arrears the insurance company have the right to xc the PPI.
Honey 2 x0 -
Milk and two sugars barloo please!
Do you have to let the FSCS know about this cheque?
Opppsss, just went out for a few hours and now got back to several pages to catch up on.
So firstly, Pinknico, kettles on.If you see a penny, pick it up, all day long you'll have good luck !!!!!!
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alyson1982 wrote: »They received our claim form back in May 2009. We are claiming because we were told that without the PPI we couldn't have the loan, that it is only my partner that was insured *eventhough we told them that he was insured through work and it was me that needed the insurance more than him* are other people claiming for the same reasons???? i'm sure I added other things to the original claim but my brain has gone Lol!!! Do you know of anyone who has had their claim rejected?
xx
Our reasons for claiming are,
Single premium policy, was not told it was added to loan, and would be paying for it for the full term of the loan i.e 25 year yet only covered for 5yrs.
Pre existing medical conditions.not covered, wasn't told
Agreement only stated Cost of ppi without interest and when requesting a copy of agreement, it had been amended parts showing the full cost of the PPi with interest.
Not explained that the cover was only for five years
If you think you have left anything out, you can still send it to them and ask them to put it on your file.
The more you include the better.
We are all up late tonight - is your little one kicking about and keeping you awake:Ddialysis,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 -
I think everybody is tired out barloo, it's been a really busy day here today. you know what we are all like with our theories and all.:D
Milk no sugar thanks:D
I do think you would have a case here if they did deduct it. At the end of the day how can they say only part of the policy applies. Wouldn't make sense.
I would definately question this if they do deduct it.:mad:
Another fight on your hands!!!!! how much was you total PPI
I agree, surely it cant go both ways. Oh goody, I like the prospect of another complaint.
Bit embarrassed about this Busby. 1st loan = 6.5k refinaced after a year into £14.5k!If you see a penny, pick it up, all day long you'll have good luck !!!!!!0 -
At last - I have been trying to explain this exact point - the compensation is for bad advise not for mis-selling the PPI - the letter I got on friday from FSCS wasquite clear in the 1st paragraph that this is why I was being compensated.
Someone has posted about making claims that was the 3rd section of calculation - Less any payments made to you from making a claim - if I had claimed for 3 months sickness and the Insurance paid out £900 then this would have been deducted from my compensation figure - however the cash back was for ensuring that payments were made in full and in time and no claims had been made on the PPI - if this was the case then the bonus payment was paid - also if there were any payment made but were late or any arrears then the bonus payment would not be eligible. This is in the hand book that accompanied the loan papers. Also it states that if the loan is in arrears the insurance company have the right to xc the PPI.
Honey 2 x
Exactly, we've got there in the end Honey: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 -
Barloo,if I remember correctly, you spoke to someone at the fscs and told them you were expecting a NCB. Is this correct, and he told you to let them know if you did.
I doubt the person you spoke to has noted this. I would leave for now unless they ask you if you have received anything from the insurers.
Oh yes for sure, got no intention of letting them know, unless they ask. But even if they do I got the same arguement again about keeping the cover in effect.If you see a penny, pick it up, all day long you'll have good luck !!!!!!0 -
01594 863000 TWG this is the PPI insurance number it come under the umbrella of a company called the Warrenhty Group who specialise in PPI, GAP insurance, Motor, electrical insurance
Honey 2 x0 -
I agree, surely it cant go both ways. Oh goody, I like the prospect of another complaint.
Bit embarrassed about this Busby. 1st loan = 6.5k refinaced after a year into £14.5k!
have you read honey's post. It is clear you will not have to pay back the NCB. As I said earlier if the policy is still valid, the NCB has to apply: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 -
So honey you did receive NCD. Good if you did. That would be good news for anyone on here who is due for a NCD
Yep, that is good news. So if I got this right then. If I cancel the insurance I get rebate, if I dont then I will still be eligible for the next 2 years worth of No Claims Bonus.
So surely its a no brainer to see whichever is the greater amount.If you see a penny, pick it up, all day long you'll have good luck !!!!!!0 -
I agree, surely it cant go both ways. Oh goody, I like the prospect of another complaint.
Bit embarrassed about this Busby. 1st loan = 6.5k refinaced after a year into £14.5k!
Don't be embarrassed, no need to be;);)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
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