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

pinknico

Thanks busbyh, we can afford the repayments, so not a big stress and there are options along the way now we have compensation from the FSCS.


A BIG THANK YOU TO WHOEVER INVENTED THE FSCS!!

busbyh

beaniebabe wrote: »

Hi everyone
Just logging in to have a catch up and see how everyone is going on with their claims etc. Has anyone cancelled their insurance yet with picture and received the amount that the FSCS stated would be payable by the insurance company. I would be very interested to know as I am going to give them a call tomorrow.
Also is there any other news I have missed out on !

Hi beaniebabe, hope you are well. Posted a draft letter on page 241 regarding Picture, if you would like to read it.

beaniebabe

pinknico wrote: »

Hello beaniebabe, good to see you, are you ok.

I would like to know how to contact the insurers direct as Picture are trying to take it off the loan if people have called them.

I am fine
Not been on much as I have had a busy few weeks .
Picture called me today asking if we were going to settle the arears as they were aware we had received the compensation. I have no problem doing this but was unsure whether we would receive the full insurance amount from the insurance company in the form of a cheque or would our loan repayments be reduced by a pittance each month.
Do you think I would be better off deducting the insurance amount from what I repay them back and let them chase the rest up from the insurance companys?
Am I able to do this?
Any help / advice appreciated:o

NEWTONCHANG

beaniebabe wrote: »

I am fine
Not been on much as I have had a busy few weeks .
Picture called me today asking if we were going to settle the arears as they were aware we had received the compensation. I have no problem doing this but was unsure whether we would receive the full insurance amount from the insurance company in the form of a cheque or would our loan repayments be reduced by a pittance each month.
Do you think I would be better off deducting the insurance amount from what I repay them back and let them chase the rest up from the insurance companys?
Am I able to do this?
Any help / advice appreciated:o

i cancelled my insurance i got 800 back paid straight to picture i never saw it and my payments went down 7ish a month if thats any help

pinknico

I should think you can tell them you want to cancel the insurance and use the rebate to pay off the arrears, and pay them any remaining arrears.

Is that how you want to do it?

busbyh

pinknico wrote: »

Thanks busbyh, we can afford the repayments, so not a big stress and there are options along the way now we have compensation from the FSCS.



A BIG THANK YOU TO WHOEVER INVENTED THE FSCS!!

We would have been lost without them.

My daughter will be in the same position as you, and they are hoping to make extra payments off mortgage. Have you read on MSE just how many years you can take off by paying a little extra:beer:

pinknico

Off to bed now ,but can you point me in the right direction so I can read up on that thanks.xx

NEWTONCHANG

They just took mine off the loan and i dont have any arrears on mine and when i said that will cover my monthly payment they said no i still had to pay it !!!

NEWTONCHANG

pinknico wrote: »

Off to bed now ,but can you point me in the right direction so I can read up on that thanks.xx

nyt nyt sleep well xx

beaniebabe

busbyh wrote: »

Hi beaniebabe, hope you are well. Posted a draft letter on page 241 regarding Picture, if you would like to read it.

Great letter :T
Does this mean that the insurance company have to pay me the money back direct if I cancel the PPI
Another question, As I have been in arrears with Picture in the past, they informed me some time ago that this would effect my NCB and due to my arrears I would not be eligible. Is this still the case
If it is I may as well cancel the policy. If not then I may as well keep it and get the NCB next year. Any help