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

NEWTONCHANG

di3004 wrote: »

hmmmm now that sounds very tempting......:D:j:beer::beer:

your welcome but bring your wellies :rotfl::rotfl::rotfl:

di3004

NEWTONCHANG wrote: »

your welcome but bring your wellies :rotfl::rotfl::rotfl:

look forward to it lol , wellies have loads of them lmao living here is the main reason for that lol :rotfl::rotfl::rotfl:

NEWTONCHANG

di3004 wrote: »

look forward to it lol , wellies have loads of them lmao living here is the main reason for that lol :rotfl::rotfl::rotfl:

thats good then lol well better go get some sleep im wacked out chat tomorrow no doubt nyt nyt hun sleep well

di3004

NEWTONCHANG wrote: »

thats good then lol well better go get some sleep im wacked out chat tomorrow no doubt nyt nyt hun sleep well

cool :j:j:D, yes I better get off as well, hubby wants to play cards on here, so I suppose I had better let him have the puter......:D lol.
Sleep well hun and sweet dreams, hope to chat tomorrow.
Night night XXX

blakeney

Emailed fscs for a claim form but todate has not arrived does it take a long time notice you all talking about your mortgage holders what do they need from them please advise sue

busbyh

ramragon wrote: »

hello, new to the site and was after some advice,

i got a secured loan from picture finance which started on 3rd april 2007, the loan was for £43500 and the ppi was £10,853 (which wasnt pointed out as optional at the time, and because of financial constraints i had to take the loan over 300 months.

several months after taking out the loan i decided to move the amount on to my mortgage and pay picture off, however after being told that the settlement figure was nearly £54000 due to the ppi being invested for 5 years i decided against the move.

i tried to reclaim the ppi using a third party last year and was advised by them that the refund would be £450 which seemed pitifully low for a policy i'd been paying in to for 16 months, so i decided to keep paying the ppi with the knowledge that i would be getting premiums back (£2648 after 3 years, £1588 after 4 years and £1059 after the 5th year.).

i was alarmed to read that picture had gone in to default and was just wondering what people would advise i do, either wait for the premiums to arrive back which should be due next april/may. or try and force a claim through for mis sold ppi, and again if anyone could give me some advice on how much the claim should roughly be for it would be appreciated.

sorry to ramble and thanks in advance for any advice.

i should really be more financially switched on, and avoid making stupid decisions

Hi ramragon and welcome.
As far as being switched on and not making stupid mistakes, we are all in the same position, you are not on your own;)
First don't even think of using a third party, there is just no need, and will cost you anything from at least 10% charges to them, some are even 25%. FORGET THEM:mad: Obviously whoever told you you would only get £450 back hasn't got a clue what they are talking about, so steer clear of them.
I would contact the FSCS to inform them you will be making a claim and get the ball rolling, as i'm not sure but they make have cut off dates for claiming. If they do I think it will be some time yet.

If it was me I would get them to send a claim form to you, as I am sure the claim will be completed before your first NCB date. If you read back on the posts some who had rcd some of the NCB have had it deducted, this was the NCB received before settement, anything rcd after settlement is not deducted, There are some posters who are questioning why theirs that was paid out prior to settlement, has been deducted, and we await the outcome

FSCS should now know what they are doing with this and all claims should be completed by January - 6mths after date of defaul which was 8th Aug 08

Send in copies of any info you have, and take time filling in the application form. Detailing all the reasons the the missell. I would post Special Delivery it is well worth the £5 postage and guaranteed next day delivery. You can then check it has been received with the RM track and trace.

Going from this site everybody is winning against Picture. There was one that was declined, but on appeal has won.

I'm sure other posters will get back to you, see what they think, but I would get the ball rolling right away, in case they do have a cut off date for claims, which I doubt
Good Luck and if you need any more help, we are all here,
WE ARE ALL VICTIMS OF PICTURE, YOU ARE NOT ON YOU OWN:beer:

busbyh

blakeney wrote: »

Emailed fscs for a claim form but todate has not arrived does it take a long time notice you all talking about your mortgage holders what do they need from them please advise sue

Hi blakeney
mine took about a week as far as I can remember, I would call them again.
I posted with the info required from BS. I would check the post and copy it for you. It states all they need, so maybe you get get this info from them as we are with Nationwide, and they have been really slow with providing it.


We are investigating a claim I relation to an alleged miselling of PPI Sold by the above firm. We have been informed that the original loan supported by the policy we are investigating has now been refinanced through a loan with Nationwide.

The info they are requesting is as follows:

· Total interest paid to date on the premium element of £8732.50
· The amount of any redemption fee payable if the premium element of £8732.50 is repaid to the loan
· The rates of interest applied to the loan from inception, including the dates they were applied
· A statement of account showing monthly payments made so far in relation to this agreement.
In relation to the PPI (if calculated by you) any premium rebates due upon cancellation/already paid under “cash back” schemes (if applicable)


This is the info needed to complete our claim.

Hope this helps
good luck

busbyh

ramragon

The way the payouts appear to be going are,

Total PPI
Plus interest paid on this to date
Less any rebate rcd(could be NCB)
Also what they have been deducting is any premium that would be due upon cancellation of policy, but I would think in your case, with what you will be due back, you may be better of keeping the policy running.;)

FSCS pay the first £2000 plus 90% of the remainder of the settlement figure. Even if they don't complete before your first NCB pay out, and they deduct from settlemet,you will still be better putting a claim in.

busbyh

barloo69 wrote: »

Sorry, been out all day and just returned to lots of posts.

Sorry about the Kea comment, if its been bugging you. It was meant to be as Manuel from fawlty towers used to say when he didnt understand.

But Ive just been reliably informed by Mrs Barloo that Kea is actually spelt Que!!! ( so apparently the joke is back on me !!! Doh !!!!

Anyway, good comments and investigation Busby BTW. I have sent my letter off RD so we see what happens I suppose. I gotta be honest though, I dont see them backing down at this stage, and it could be a long drawn out process.

Glad that's sorted barloo:D

As for the NCB, I suppose it depends how long you can hold out, without cashing the cheque, esp. with Christmas round the corner.

I just can't understand how they can deduct it from some and not others, unless Honey's was an oversight, maybe Then again, there's the FSA ruling that you have found!!!!

busbyh

NEWTONCHANG wrote: »

Hi busbyh i havent remortgaged and mine isnt done yet either and ive been waiting forever aswell lets hope we all here this week

Well, that puts paid to ANOTHER of my theories:D