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

busbyh

Well done dialysis:T:T:T
We will just wait for Martin's response now:beer:

busbyh

demir2424 wrote: »

Received a telephone call from FSCS yesterday - just out of the blue, thanked me for my email?? (I have never emailed them).
The man explained that I should probably ignore my 3 year ppi part refund letter from Picture as he is not aware of anybody who has received a refund so far and he was not sure if Target would pay this now, but to tell him if they did.
He also explained that any claims are likely to be settled by the end of the year but not in the near future.

Hi demir
The FSCS have obviously had some feedback then regarding refunds! Maybe the info they need has started to filter through to them now.

Although he says they won't be settled within the near future - it is only about 14 weeks to the end of the year- so although still a way to go, there is now an end in sight.:D

Hopefully for dialysis and beaniebabe it will be sooner rather than later:beer:

busbyh

dialysis wrote: »

Well I have sent it so if you never hear from me again_pale_ it was nice knowing you all:rotfl::rotfl::rotfl:

Im sure it won't come to that dialysis:eek:We still have other issues to sort once this is done with - the loans will be our next project

When I completed the claim form for FSCS, I did actually mention on it the way in which the loans were given, ie the drive by or internet valuation nd the LTV was ridiculous. I think you will find somewhere in the paperwork it actually confirms it is not neccessary to value the property, which is ludicrious on a secured loan. It said they just checked credit scores. I don't believe they even did that!!
Totally irresponsible!!

amersall

dialysis wrote: »

Hi I have done the PM to Martin will you take a look and see what you think Please feel free to tell me if its not good enough:D


Dear Martin
We sincerely hope you do not mind us PM you but we are struggling financially, due to the time it has taken, for the FSCS/Deloitte to process our claims against the now default Picture Financial Services. We have a thread on MSE entitled Picture in Default/FSCS Claims and if you have not already done so please would you kindly take a look. The thread will explain some of our circumstances and the hardship we are experiencing due to this delay. We have wrote to the media in hope that they will highlight our cases and this might some how speed up the process of reclaiming our PPI. Some have informed their MP's of their plight and still we are waiting. As explained in the letter some of us have been waiting for this compensation for 20 months and have received either little or no news from the FSCS of Deloitte thoroughout this period. Some of us have been told that it could be a further 3-4 months before our claims are sorted. We ask for your help to see if there is anything further you can do to put an end to our financial hardships and threats of repossession.

We enclose a copy of the letter forwarded to the media. Thank you

The Picturite Group MSE




RE- PAYMENT PROTECTION INSURANCE- SINGLE PREMIUM POLICIES


I am writing on behalf of myself and a group of claimants who are awaiting compensation regarding this extortionate Insurance.

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 is a Single Premium Policy (front loaded) which was never explained in any detail. You are probably aware that this type of policy has 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.

:j:j:j:j:j:j:j:jbrill di, well done:T:T

beaniebabe

dialysis wrote: »

Well I have sent it so if you never hear from me again_pale_ it was nice knowing you all:rotfl::rotfl::rotfl:

Dialysis
You have done a fantastic job writing this letter to MSE Martin.:T
Keep with it, I know its not easy at times but we need to support each other and you have been a great support to me!!!:A
14 weeks isn't long when you've waited nearly 2 years!!! This WILL get sorted and at least we are all being pro active in what we are doing:D
Take care hun and try not to worry too much!XX;)

pinknico

Well said beaniebabe.xx

di3004

It's fab Di, well done.:T:T:T:T:T:T:T

di3004

beaniebabe wrote: »

Dialysis
You have done a fantastic job writing this letter to MSE Martin.:T
Keep with it, I know its not easy at times but we need to support each other and you have been a great support to me!!!:A
14 weeks isn't long when you've waited nearly 2 years!!! This WILL get sorted and at least we are all being pro active in what we are doing:D
Take care hun and try not to worry too much!XX;)

What lovely advice beaniebabe, your right.:T:T:T:T

pinknico

demir2424 wrote: »

Received a telephone call from FSCS yesterday - just out of the blue, thanked me for my email?? (I have never emailed them).
The man explained that I should probably ignore my 3 year ppi part refund letter from Picture as he is not aware of anybody who has received a refund so far and he was not sure if Target would pay this now, but to tell him if they did.
He also explained that any claims are likely to be settled by the end of the year but not in the near future.

I was always under the impression it was the insurance company that paid this out NOT Target, the FSCS really dont have a clue! Someone on another forum got their claim will try to find out when.

gumbi

Gumbi Here,

A bit of background first:

When I completed my claim for for the FSCS I deliberately left the section about payment method blank in the hope that the only time this information would be looked at would be just before payment is due to be made and that I would need to contacted.

Basically I want the money to go into a high interest account in my Wife's name and they would have to have my authorisation to pay into this account....A bit sneaky I know but we need to get a heads up somehow don't we

Well last night we recieved a call whilst I was out from Deloitte asking where I would want any compensation to be paid:D. I sent the email last night when I got home and have been given the name and number of a contact at Deloitte that I will be calling this morning...

I don't want to get people's hopes up as I've been keeping an eye on the forum and I see that information is confused at best. My ref number is 00074 so I'm pretty near the front of the queue and I've made a point of keeping a low profile with the FSCS recently to see what happens when you let the system run it's course without trying to push it along..

Rest assured If I get wind of any imminent payments I will inform the group and spread the love in a big way:j