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

edited 11 October 2009 at 11:25AM in Reclaim PPI & Other Insurance
9.8K replies 692K views
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Replies

  • sandzbsandzb Forumite
    75 posts
    Old_Wulf wrote: »
    Just an update - got home from work last night to find a nice white envelope with a cheque in it :j:j:j

    It was posted on Tue and when we chased the FSCS on Wed they said it was still being looked at !!!

    I'm just glad ours is sorted and hope that all of yours is too .
    :T:T:TWell done Old Wulf.. WooHooo!!!:beer::beer:
  • di3004di3004 Forumite
    42.6K posts
    busbyh wrote: »
    Oh pinknico, something has to be done about this. I am going to call Picture tomorrow and tell them what I think:mad::mad: I will tell them I am going to the press. Do you know who we can contact regarding this misleading information. As you say there will be lots of people who will just accept what they say and pay it back to them:mad::mad::mad: I AM SO FUMING:mad::mad::mad::mad::mad:

    Email them as well hun.;)

    I did post their website on here the other day, think they also had an email address.
    Depending if they get back to you by email though.
    So yeah maybe worth a phone call also, good luck.;)
    The one and only "Dizzy Di" :D
  • marshallkamarshallka Forumite
    14.6K posts
    Nice one to all you winners:T. Have not completely caught up with the posts but note some have thought I am away (I wish). Well just thought i would let you know I am still here but not been well and had problems to deal with. :confused: Just need to take it easy I guess for a time.:o

    Just to let you know also we had post all week as normal but nothing at all today. Hope you hear something tomorrow or next week.
  • di3004di3004 Forumite
    42.6K posts
    marshallka wrote: »
    Nice one to all you winners:T. Have not completely caught up with the posts but note some have thought I am away (I wish). Well just thought i would let you know I am still here but not been well and had problems to deal with. :confused: Just need to take it easy I guess for a time.:o

    Just to let you know also we had post all week as normal but nothing at all today. Hope you hear something tomorrow or next week.


    Hi Marshallka :j:j
    Sorry to hear you've not been well......:cry:, get better very soon.:A

    Yes I did also post on the non ppi thread as well, as worried about you, so please get better quick. XXX
    The one and only "Dizzy Di" :D
  • marshallkamarshallka Forumite
    14.6K posts
    di3004 wrote: »
    Hi Marshallka :j:j
    Sorry to hear you've not been well......:cry:, get better very soon.:A

    Yes I did also post on the non ppi thread as well, as worried about you, so please get better quick. XXX
    Thanks Di. :o
  • di3004di3004 Forumite
    42.6K posts
    marshallka wrote: »
    Thanks Di. :o

    With pleasure Marshallka, I also posted and asked Tiggrae about you.;)
    Just as long as your okay, that's the main thing, and rest is best is what they say.
    It's good to see you back though.:beer:
    The one and only "Dizzy Di" :D
  • marshallkamarshallka Forumite
    14.6K posts
    di3004 wrote: »
    With pleasure Marshallka, I also posted and asked Tiggrae about you.;)
    Just as long as your okay, that's the main thing, and rest is best is what they say.
    It's good to see you back though.:beer:
    I saw some posts but could not log in to post back as I know myself and when you have to rest you have to rest. I will be fighting fit again soon I hope. Just very tired at the moment.
  • di3004di3004 Forumite
    42.6K posts
    marshallka wrote: »
    I saw some posts but could not log in to post back as I know myself and when you have to rest you have to rest. I will be fighting fit again soon I hope. Just very tired at the moment.

    Whatever you come down with Marshallka, I hope your recovering from it well.;)
    These dark early nights don't help either do they?, and the clocks change over the weekend, I'm dreading it.:eek:
    The one and only "Dizzy Di" :D
  • edited 28 October 2009 at 4:20PM
    busbyhbusbyh Forumite
    2.3K posts
    edited 28 October 2009 at 4:20PM
    ROUGH DRAFT OF EMAIL TO PICTURE, WHAT DO YOU THINK
    i
    FAO SENIOR MANAGER- PRIORITY HIGH- COMPLAINT

    I have recently been made aware that members of your staff have been mis advising Picture customers who have had claims upheld with FSCS. Regarding miss sold PPI Insurance.

    They are being told, should they be due or in receipt of a No Claims Bonus from their policy, this has to be paid back to the FSCS, This is in fact untrue, and is utter nonsense, as has been confirmed by the Financial Services Compensation Scheme.

    If a customer chooses to cancel Insurance, the FSCS has advised the Insurer how much rebate the customer is to be paid. The customer has been told, not advised, by Target staff that this has to be paid back to Picture to reduce loan amount. Where on the Terms and Conditions does it state this. It does state any No Claims Bonus due will be paid direct to the customer. Payments made for redundancy or hospitalisation will be paid to Picture to reduce the loan balance, with no mention of the rebate being paid of the loan balance.

    If a Picture customer’s claim is upheld by FSCS and they receive a rebate or NCB from Insurer it is their decision and their decision alone, how they choose to use these funds. It has nothing whatsoever to do with Picture or Target Loans as the case may now be.

    I strongly recommend you discuss this area of concern with your advisors to ensure they are giving out the correct information to customers. The advisors are seriously misleading customers.

    Apparantley they are now advising customers it would be in their best interest to cancel the Insurance. Now why would that be? Could it be if they cancel they will lose out on their NCB, would this have anything to do with it costing less to be paid out on a rebate than it would having to pay back 50% of the Policy after the 60 months! In other words, it is to your advantage, not the customers' to cancel, as you now know that the No Claims Bonus, as instructed by the FSCS does not have to be paid back off the loan, and the Insured is still able to make claims against this policy.

    I assume you thought if the claim was upheld by the FSCS this would automatically mean customers would have to pay the award back to you off the settlement figure. How disappointing for Picture/ Target that this is not the case. Excellent news for the customer that the FSCS have left the decision up to them, how they choose to use this payment.

    Surely lessons have been learned from past mistakes regarding the bad advice given with the sale of PPI. Yet you continue to give out the wrong advice!


    I intend, where possible to ensure all Picture customers are aware of their rights. I will take it to the press if necessary. I also suggest you ensure you are giving out the correct information. Obviously you are attempting to claw back as much as possible, by going against what the FSCS have instructed.

    Also, can you explain why we do not have a POLICY REFERENCE NO. Surely as we are paying thousands of pounds out in Insurance, we should have this .The only reference we have is a loan reference.

    I will also be forwarding this correspondence to the FSA and FOS


    I trust this complaint will be looked into as a matter of urgency and look forward to an early response


    Regards
    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,AuntieDeedee
  • busbyhbusbyh Forumite
    2.3K posts
    marshallka wrote: »
    Nice one to all you winners:T. Have not completely caught up with the posts but note some have thought I am away (I wish). Well just thought i would let you know I am still here but not been well and had problems to deal with. :confused: Just need to take it easy I guess for a time.:o

    Just to let you know also we had post all week as normal but nothing at all today. Hope you hear something tomorrow or next week.


    Lovely to hear from you marshallka, was quite concerned, sorry you haven't been too well. Hope you will soon be ok.: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,AuntieDeedee
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