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

sandzb

Looks like it wont affect us for thursdays cheque!!!!!

NEWTONCHANG

busbyh wrote: »

Hi NEWTONCHANG,
We cancelled the Insurance also but received no rebate, just a reduction of £2 in monthly payment.
How long was it running before you cancelled. We cancelled after 32 months. I'm trying to work out how they do the rebate

We cancelled ours after 4yrs about hun who knows how any of it works i think they just pluck figures out of thin air but cab told us if your payments go down £7 then you times it by 12 then by 25 thats a lot of money to save and i never reduced by the £7 either kept the payments the same coz £7 is neither here or there so its pays off faster aswell

NEWTONCHANG

di3004 wrote: »

NEWTONCHANG,

So this loan is still active then?
You cancelled the PPI and the repayments hardly come down, did you take out any advances with them (loan advances) as well?

yes the loan is still active because our mortgage lender wont do a remorgage because picture have put us in negative equity because when they do your valuation they dont take the ppi into account so unfortunatly where stuck with them for now :mad:

busbyh

NEWTONCHANG wrote: »

We cancelled ours after 4yrs about hun who knows how any of it works i think they just pluck figures out of thin air but cab told us if your payments go down £7 then you times it by 12 then by 25 thats a lot of money to save and i never reduced by the £7 either kept the payments the same coz £7 is neither here or there so its pays off faster aswell

thanks for that, I just cannot understand why we received no actual rebate.
We remortgaged and paid off picture after 35 months and on the breakdown of the settlement figure states Ins rebate 0.00 I thought it was of the time into the policy that we cancelled,but if yours had been running for 4 years, who knows.

Did you ever claim on the policy and if not did you receive your No Claims Bonus

busbyh

NEWTONCHANG wrote: »

yes the loan is still active because our mortgage lender wont do a remorgage because picture have put us in negative equity because when they do your valuation they dont take the ppi into account so unfortunatly where stuck with them for now :mad:

Well that another dam rip off from them. We learn more by the day, I was totally unaware they did this:mad::mad::mad:

pinknico

Busbyh could it be if you cancelled the policy before settlement and monthly payments were reduced then you already had your rebate applied and your settlement figure is based on that and would have only shown a rebate if cancelled at time of settlement.

busbyh

pinknico wrote: »

Busbyh could it be if you cancelled the policy before settlement and monthly payments were reduced then you already had your rebate applied and your settlement figure is based on that and would have only shown a rebate if cancelled at time of settlement.

Yes, you are possibly correct :T I will get the settlement letter out and have another look:beer:

di3004

Hello my lovely friends, I'm back......:D

di3004

sandzb wrote: »

Latest Strike Action


Date



Functions striking



General service impact
Thursday 29th OctoberMail Centres & Network Distribution UnitsLimited processing, movement and collection of ordinary mail (if local collections performed by staff at a Mail Centre).Friday 30th OctoberManual Data Entry Centres (MDEC)No direct impact on mail servicesFriday 30th OctoberLondon Collections HubsLimited collections in all parts of the SE, N, NW and WC postal districts. Limited collections in the E1, E2, E4, E5, E8 to E11, E17, E18, SW11 to SW20 postcode areas and all parts of the W district (except W5, W7, W13).
Collections in EC district as normal. Saturday 31st OctoberDelivery OfficesLimited delivery and collection of ordinary mail (if local collections performed by a Delivery Office)

Thanks for posting this.;)
I am an NP44 area, I received mail yesterday which we should have received 2 weeks ago.

di3004

NEWTONCHANG wrote: »

yes the loan is still active because our mortgage lender wont do a remorgage because picture have put us in negative equity because when they do your valuation they dont take the ppi into account so unfortunatly where stuck with them for now :mad:

How annoying for you......:mad:.
With us we taken out a loan advance, a year later that was paid off with a remortgage, a few months after the FOS resolved that one for us, but as the full settlement figure of the loan had to be paid within the remortgage it did have an impact on the rate etc, because the deal ended with the last mortgage lender, with both the mortgage and the loan together it was very expensive.
If this was resolved before we remortgaged, it would have been less to put on the new mortgage.

Its the first loan ppi we are pursuing now through the FSCS.;)