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

dialysis

busbyh wrote: »

Yes, I think you are right. It was First Plus and they did get it all back. That,s the difference with us having to go through FSCS. and the 8% interest. It's maddening, isn't it?
:mad::mad:

It is so annoying:mad::mad: and I think that once we get our PPI back it will be well worth trying to fight for some sort of compo/interest, for all our hardship and distress caused by this delay. I dont know how we would go about this but I am sure we can look into this once the other is sorted. After all this is not our fault. I am sure Picture and all other firms who go bust after being found guilty, if thats the right word, of misselling do this deliberatly to avoid all the compo payments its too much of a coincidence them going down after so many claims were uphelp by the FOS

busbyh

One good thing Dialysis, The Sun are obviously aware of the PPI scandal,therefore a bit more press can only help our situation

busbyh

dialysis wrote: »

It is so annoying:mad::mad: and I think that once we get our PPI back it will be well worth trying to fight for some sort of compo/interest, for all our hardship and distress caused by this delay. I dont know how we would go about this but I am sure we can look into this once the other is sorted. After all this is not our fault. I am sure Picture and all other firms who go bust after being found guilty, if thats the right word, of misselling do this deliberatly to avoid all the compo payments its too much of a coincidence them going down after so many claims were uphelp by the FOS

Thats food for thought. Get this sorted and start on the next mission.
Think it might be worth a go

I am sure they do go under deliberately, probably with plenty stashed away to see themselves through financially. They certainly won't be worried about being repossessed or paying thier bills.:mad::mad::mad:

marshallka

dialysis wrote: »

Yes I read it a while ago I think they got all the PPI back too not just what they had paid plus 8% interest. I think this went throught the FOS though as I seem to recall it was first plus and they arnt in default this is why I think it is unfair if we dont get the full amount back and interest as it is almost like we are being punished for Picture going bust Do you see where I am coming from?

Hi dialysis, the couple only got back what they had actually paid in PPI and if they had carried on with it it would have cost them £55,000 and they got back the £27,000 but this was a top up loan so maybe PPI on the last one too. It was done through FOS and i think they only ever award a maximum of £500 compensation but it does not mention if they got this one top. Lots on here have had this awarded and its wrong as we all should get it when companies give us the run around. The full story is here. FOS would never award anything they had not actually paid in the form of "money" and the rest would be taken from the existing loan. You would be better off by campaigning for the compensation from them and would most probably get back more the measly £500 fos award. You all certainly deserve it for the wait.

http://www.thesun.co.uk/sol/homepage/news/money/2453506/Ill-take-27000-from-the-top-and-push-two-to-the-bottom.html

Keep battling dialysis and keep on at Deloittes as well.

busbyh

marshallka wrote: »

Hi dialysis, the couple only got back what they had actually paid in PPI and if they had carried on with it it would have cost them £55,000 and they got back the £27,000 but this was a top up loan so maybe PPI on the last one too. It was done through FOS and i think they only ever award a maximum of £500 compensation but it does not mention if they got this one top. Lots on here have had this awarded and its wrong as we all should get it when companies give us the run around. The full story is here. FOS would never award anything they had not actually paid in the form of "money" and the rest would be taken from the existing loan.

http://www.thesun.co.uk/sol/homepage/news/money/2453506/Ill-take-27000-from-the-top-and-push-two-to-the-bottom.html

Keep battling dialysis and keep on at Deloittes as well.

Hi marshallka

I have just read the Sun article and agree with what you say. It doesn't say they got the extra on top.

Just wish we could see the end to all this hassle:mad:
I always have trouble posting links. will have to get practicing

busbyh

FAO
The Editor
The Sun Newspaper
1 Virginia Street
LONDON
E1 9XR


15th September 2009


Dear Mr Mohan/Tim Heming

RE PAYMENT PROTECTION INSURANCEI-SINGLE PREMIUM POLICIES


I am writing on behalf of myself and a group of claimants who are awaiting compensation payments from the sale of these extortionate policies.

I have been reading, with interest ,one of your articles written by Tim Heming, regarding PPI claims. The case was about a couple where the initial PPI was £27000, over 25years which had it gone the full term would have cost in excess of £55,000 – almost half of the original loan.

There are about 600 cases in the process of claiming against Picture Financial Services PLC regarding PPI insurance. Some have been on-going for 12 months, others have been on-going for 20 months ;if not longer. We were hoping that maybe you could publish an article hi-lighting the problems we are having.

We are using the Martin Lewis Money Saving Expert site in order to gain as much information as possible. This comes under the thread– PICTURE FINANCIAL IN DEFAULT. If you would care to check it out and see the issues and problems we are going through, it would help your article, if you were prepared to publish it.

If it wasn’t for this site, many of us would be in the dark as to any progress being made. Some have even contacted their MP’s for help.
As Picture have now been declared in ‘default ‘from 7th July 2009 the claims are being handled by FSCS/Deloitte.

Target Loans have now taken over the books from Picture , supposedly to sort out this mess

We took out these loans to sort out our finances. In some cases they where consolidation loans and we have ended up being in more debt because of the mis sold PPI and the overall cost of it. This was a Single Premium Policy (front loaded) which was never explained in any detail. You are probably aware that these type of policies have now been banned. It now transpires that the cover was only cover for 5 years and yet we paid for it over the term of the loan - in some cases 25 years. If we required cover after the five years we would need to take out more insurance. Even if we cancelled the PPi part way through, it would make no difference to us financially as the Insurance was deviously added to the loan at the start.

Also only the first named on the policy was covered for illness etc. even though the loan was in joint names. The joint policy holders were covered for death only. This was never explained to us either.

We are getting very little information from the FSCS and there are several cases where they are under real threat of repossession of their homes because of the delay in paying out the claims. This is taking its toll and some people are now at breaking point as they are in a desperate situation. By rushing through priority cases would mean the difference being, their homes, which they have worked so hard for all their lives, being repossessed or them keeping it.

We are all getting so desperate, any help and assistance from you would be most appreciated.

If you were to agree to publication , will you respect the privacy of any individual claimant?

This letter has been written on behalf of all Picture claimants from Martin Lewis forum -PICTURE IN DEFAULT/FSCS



Yours sincerely





Picture claimants from Martin Lewis forum.

dialysis

busbyh wrote: »

Made some amendments



Dear Mr .............

I have been reading, with interest ,one of your articles regarding PPI claims. The case was about a couple where the initial PPI was £27000, over 25years which had it gone the full term would have cost in excess of £55,000 – almost half of the original loan.

There are about 600 cases in the process of claiming against Picture Financial Services PLC regarding PPI insurance. Some have been on-going for 12 months, others have been on-going for 20 months , if not longer. We were hoping that maybe you could publish an article hi-lighting the problems we are having.

We are using the Martin Lewis Money Saving Expert site in order to gain as much information as possible. This comes under the thread– PICTURE FINANCIAL IN DEFAULT. If you would care to check it out and see the issues and problems we are going through, it would help your article.

If it wasn’t for this site, many of us would be in the dark as to any progress being made. Some have even contacted their MP’s for help.
As Picture have now been declared in ‘default ‘from 7th July 2009 the claims are being handled by FSCS/Deloitte. Target Loans have now taken over the books from Picture , supposedly to sort out this mess!!

There are some claimants who have been trying to sort this out for 12 months, for others it has been on-going for 20months or more.

We took out these loans to sort out our finances. In some cases they where consolidation loans and we have ended up being in more debt because of the mis sold PPI. And the overall cost of it. This was a Single Premium Policy (front loaded) which was never explained in any detail. You are probably aware that these type of policies have now been banned. There was only cover for 5 years and yet we paid for them over the term of the loan - in some cases 25 years. If we required cover after the five years we would need to take out more insurance. Even if we cancelled the PPi part way through, it would make no difference to us financially as the Insurance was deviously added to the loan at the start.

Also only the first named on the policy was covered for illness etc. even though the loan was in joint names. The joint policy holders were covered for death only. This was never explained to us either.

We are getting very little information from the FSCS and there are several cases where they are under real threat of repossession of their homes because of the delay in paying out the claims. This is taking its toll and some people are now at breaking point as they are in a desperate situation. By rushing through priority cases would mean the difference being, their homes, which they have worked so hard for all their lives, being repossessed or them keeping it.

We are all getting so desperate, any help and assistance from you would be most appreciated.

This letter has been written on behalf of all Picture claimants from Martin Lewis forum -PICTURE IN DEFAULT/FSCS





Yours sincerely







On behalf of all Picture claimants from Martin Lewis forum..

Thats great busbyh:T:T:Twell done:T:T:T

busbyh

Hi all
If you read through the letter for The Sun and let me know if you spot any spelling/grammar errors. Also if you want anything adding or you think there is anything I should take out, let me know and I will make a final amendment for beaniebabe to send it off.
:beer:
Here's hoping it has some impact.
I assume nobody wants their actual name published so I will mention about anononimity in the letter. The couple in the previous article published did not wish to be named.

amersall

thats bloody brill.:cool::cool::cool: well done you:A:A

marshallka

busbyh wrote: »

Made some amendments



Dear Mr .............

I have been reading, with interest ,one of your articles regarding PPI claims. The case was about a couple where the initial PPI was £27000, over 25years which had it gone the full term would have cost in excess of £55,000 – almost half of the original loan.

There are about 600 cases in the process of claiming against Picture Financial Services PLC regarding PPI insurance. Some have been on-going for 12 months, others have been on-going for 20 months , if not longer. We were hoping that maybe you could publish an article hi-lighting the problems we are having.

We are using the Martin Lewis Money Saving Expert site in order to gain as much information as possible. This comes under the thread– PICTURE FINANCIAL IN DEFAULT. If you would care to check it out and see the issues and problems we are going through, it would help your article, if you were prepared to publish it.

If it wasn’t for this site, many of us would be in the dark as to any progress being made. Some have even contacted their MP’s for help.
As Picture have now been declared in ‘default ‘from 7th July 2009 the claims are being handled by FSCS/Deloitte. Target Loans have now taken over the books from Picture , supposedly to sort out this mess

We took out these loans to sort out our finances. In some cases they where consolidation loans and we have ended up being in more debt because of the mis sold PPI and the overall cost of it. This was a Single Premium Policy (front loaded) which was never explained in any detail. You are probably aware that these type of policies have now been banned. It now transpires that the cover was only cover for 5 years and yet we paid for it over the term of the loan - in some cases 25 years. If we required cover after the five years we would need to take out more insurance. Even if we cancelled the PPi part way through, it would make no difference to us financially as the Insurance was deviously added to the loan at the start.

Also only the first named on the policy was covered for illness etc. even though the loan was in joint names. The joint policy holders were covered for death only. This was never explained to us either.

We are getting very little information from the FSCS and there are several cases where they are under real threat of repossession of their homes because of the delay in paying out the claims. This is taking its toll and some people are now at breaking point as they are in a desperate situation. By rushing through priority cases would mean the difference being, their homes, which they have worked so hard for all their lives, being repossessed or them keeping it.

We are all getting so desperate, any help and assistance from you would be most appreciated.

If you were to agree to publication , will you respect the privacy of any individual claimant?

This letter has been written on behalf of all Picture claimants from Martin Lewis forum -PICTURE IN DEFAULT/FSCS





Yours sincerely







On behalf of all Picture claimants from Martin Lewis forum..

Very well written and I really think this will make a difference.

When you are wanting to be "heard" its always best to write using good grammar as they will actually be able to read it and also it is more likely to be taken seriously. Its sounds great and like I said yesterday busbyh, you did a good job on it then and today you have made it even better.

Very well done:T.