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

di3004

busbyh wrote: »

off to bed now, catch up tommorrow

Night hun, speak tomorrow, sweet dreams.:A;)XXX

dialysis

marshallka wrote: »

So you never actually got repossessed then Dialysis. I had to go to court and they gave me a week to get out and then the bailiffs came in. I had to go straight to homeless at the council from the court and wait in the queue and they had my reposession notice and I was given a house. I had the keys a few days before being booted out of mine. I did not realise that they had not actually reposessed it yet??? I stayed in mine till the bailiffs came to change the locks. I moved out of mine and private rented for similar reasons. I just cracked up I suppose.:o

Hi marshallka no we just got letters from solicitors threatening the start of repossession proceedings at the end of may, if we did not clear the arrears with Picture. We took this to our local council who have a policy of preventing homelessness and they offered us the council house. We sought legal advice and was advised to move out before repossession and let them take our home. It is an awful experience and I feel for you but if we had got the advice we have had now from our financial adviser we would never have moved out in the first place. it is better to fight for your home in your home.

marshallka

dialysis wrote: »

Hi marshallka no we just got letters from solicitors threatening the start of repossession proceedings at the end of may, if we did not clear the arrears with Picture. We took this to our local council who have a policy of preventing homelessness and they offered us the council house. We sought legal advice and was advised to move out before repossession and let them take our home. It is an awful experience and I feel for you but if we had got the advice we have had now from our financial adviser we would never have moved out in the first place. it is better to fight for your home in your home.

Wow dialysis, I have a good feeling here for you. I would not move until you HAVE to. I just really pray it all works out for you. Like I say, I have a good feeling.

dialysis

marshallka wrote: »

Wow dialysis, I have a good feeling here for you. I would not move until you HAVE to. I just really pray it all works out for you. Like I say, I have a good feeling.

Awe thank you so much hun I just wish we had been armed with all this info before we moved out I find it annoying that a solicitor advised us to move out you would think they would have known it is better to fight for your home whilst in it wouldnt you?

busbyh

Hi Pinknico
I will ring deloittes again on Monday also and try to clarify what I was told yesterday, just in case I have misinterpretted what she said. Don'i want to build my hopes up too much, or anyone else's for that matter
x

pinknico

That would be great busbyh.x

chickpee

Thanks for starting this thread Di.

We originally started our claim with Picture in Feb 2007 and our case was upheld by the FOS in June 2008.

Our forms were sent back to the FSCS in August 2008 and our ref number is under 25.

We have received a letter from Deloitte to say our case is with them and they will be in touch if they need further info. I am hoping that because the FOS has already ruled in our favour that ours will be a fairly straight forward compensation claim. As with everyone else on here, this has been a very long and stressful process and it will be a relief to put this behind us at last.

I'll keep you up to date with any info that I receive.

busbyh

chickpee wrote: »

Thanks for starting this thread Di.

We originally started our claim with Picture in Feb 2007 and our case was upheld by the FOS in June 2008.

Our forms were sent back to the FSCS in August 2008 and our ref number is under 25.

We have received a letter from Deloitte to say our case is with them and they will be in touch if they need further info. I am hoping that because the FOS has already ruled in our favour that ours will be a fairly straight forward compensation claim. As with everyone else on here, this has been a very long and stressful process and it will be a relief to put this behind us at l
I'll keep you up to date with any info that I receive.

You would think as it has been upheld by the FOS it is now just a matter of them paying you out.Was yours a single premium policy and what reasons did you give for mis sell.
busbyh

chickpee

busbyh wrote: »

You would think as it has been upheld by the FOS it is now just a matter of them paying you out.Was yours a single premium policy and what reasons did you give for mis sell.
busbyh

Hi Busbyh

Yes it was a single premium policy and the main reasons for mis-sell were

a) they indicated that the policy would continue for the full term of the loan not for just 5 years

b) they only gave us a monthly repayment loan quotation figure which included the ppi so we weren't given the opportunity to compare the repayments without ppi at any stage of the loan process.

The FOS felt that the overall impact of of the policy was not made sufficiently clear and that Picture had a responsibility to ensure that we were able to make an informed choice as to whether or not to purchase it.

They did not consider that a 5 year policy resulting in over £8000 of additional borrowing with no refund on early cancellation was a suitable recommendation. Neither were they persuaded that a policy that pays less than its overall cost in terms of disability and/or unemployment benefit was a suitable recommendation.

The FOS stated that had the full implications of the ppi policy been properly explained at the point of sale then they doubt we would have purchased it.

That's a basic summary of it - hope it helps!

pinknico

The five year thing is a big thing with the FOS , that and the fact you dont get told the whole cost of the PPI with interest.