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

busbyh

marshallka wrote: »

Not many PPI policies are sold via the insurance company though busbyh?? They are sold by lenders and brokers etc but just been looking at the new FSA proposals and nothing about leaving a policy still in force for misselling and looking through the FOS cases upheld for misselling lots of cause of bad advice. I think the legal department at the FSCS have never dealt with this before and maybe they have it wrong?? I cannot see any difference between bad advice and misselling? I thought that most people that come onto this site have complaints that relate to misselling and they state their polices are missold. Surely that is what criteria the FSCS should use in their looking into the complaint. In fact reading back before anyone had their redress from the FSCS most people that had complaints against Picture said it was cause they believed they had been missold it. It would be interesting to know what they say is the difference between them as per the FSA??? Like I say, very confusing?

'

Thanks marshallka,i'm just second guessing everything here as I really have no idea how these insurances do work. As I said before I was really surprised they left the policy in force. It would be nice to know what the basis is for their decision, but I suppose we will never know. I know some posters who have contacted Picture with regards to Insurance are being pressurised into cancelling the PPi. So for some reason that we do not know, the FSCS have left it in place, and obvoiusly Picture are not happy with it. maybe because it will cost more to pay out NCBs than rebates
Am I correct in saying that Insurance premium will have been paid up front to the Insurers, meaning whatever the decison of the FSCS, this will not affect them.
Saying that it will won't it,for any future policies as Picture and the likes will not be able to sell these as they were

Who has actually more to gain from these, the lender or the Insurer, I assume the lender!!

amersall

busbyh wrote: »

Do you think we should send in our C.Vs and put MSE:money: down as out first Referee:D

Amersall, do you know how many more on here are waiting on Picture?
:beer:

not too sure, but 1 is 1 too many and we must not forget those who dont know about this forum, there must be thousands !!! doesnt bear thinking about does it?

amersall

not got any expert knowledge regarding "bad advice" or "mis sell" so this is only a thought. could it have something to do with the company going into administration? not sure how or why but do different rules apply? this may have nothing to do with it as i say its just a thought

busbyh

amersall wrote: »

not got any expert knowledge regarding "bad advice" or "mis sell" so this is only a thought. could it have something to do with the company going into administration? not sure how or why but do different rules apply? this may have nothing to do with it as i say its just a thought

Never thought of that amersall, you could be right, different criteria applies etc.
I do remember reading that although FSCS liase with FSA/FSO their rules are somewhat different, and they do only go to FSCS if in Administration, so maybe your ar right.

With regard to other Picturites, I do hope Martin can do something, maybe in one of his T.V shows to make others aware.

aaronogborne

busbyh wrote: »

Never thought of that amersall, you could be right, different criteria applies etc.
I do remember reading that although FSCS liase with FSA/FSO their rules are somewhat different, and they do only go to FSCS if in Administration, so maybe your ar right.

With regard to other Picturites, I do hope Martin can do something, maybe in one of his T.V shows to make others aware.

Hope the coming week brings lots of cheques to all

di3004

aaronogborne wrote: »

Hope the coming week brings lots of cheques to all

Hi hun, good luck to you as well and everyone else still waiting.:beer:

di3004

aaronogborne, Have you received any quesionnaires to complete on behalf of the FSCS, Deloittes have been sending these out over the last month or so.
Yet not everyone had one, think it depended on a few things, like if they required further information, is say not enough were given on the claim form, or it could be if anyone have remortgaged, things like that?

Not saying you will receive one but just curious.;)

amersall

wishing you all good luck for today have everything crossed for all xxxxxx

pinknico

Hope this is the week that gets things moving for you all.xx

shooby1

good look everyone, hope this proves to be THE week :T