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

gumbi

pinknico wrote: »

Ok, just had phone call from..... my case handler (yay!) She has all the information back from Picture for my claim and is working on it, it then goes back to the FSCS who will check it over and decide if I have a claim for compensation if I do the FSCS send out a letter to confirm this.
The lady said it should not be too long now as they are actually able to work on the claims now. (yay!)

Still confused as to what makes you liable for compensation in the FSCS eyes and if anyone finds that out let me know!

But looking good and so nice to receive confirmation my claim is being worked on and hearing the words not long now from a claims handler!

Keep smiling.xx

Good Times.....
Looks like we've all had a pretty positive week and I do get the feeling that things are finally starting to move.

I think we're all fairly clear of the process now save for one thing.....What do FSCS look at to gauge if you have a claim? Once we know this I think we'll have all the info we need to know if we're going to see any cash back out of this disgrace!!!

I'll see what I can dig up at the FSCS and post up when I hear back.

pinknico

Thanks gumbi, that would be great. Its not like the FSCS will be listening to phone conversations is it?

barloo69

Dont know what to do.

Have received a letter from Picture today telling me my No Claims Bonus is now due (3.5k) and I have the option to either request in the form of a cheque or use it against the o/s loan balance thus reducing payments.

Has anybody else taken this No Claims Bonus from Picture.

Does anybody know if I accept this £3.5k it will affect the calculation on the PPI misselling aspect. Or are the 2 tiers seperate ?

As ever, answers on a postcard please?

Halpin

gumbi wrote: »

Good Times.....
Looks like we've all had a pretty positive week and I do get the feeling that things are finally starting to move.

Yay! I can actually relax this weekend in the knowledge that something is actually happening!

I'd love to know how compensation is calculated... thanks to the PPI on my loan I couldn't sell my house when I split up with my partner and we have been forced to live together for over 2 years, waiting for this situation to be resolved... I still smile when I think that it was the PPI, which was supposed to help me out when whings went wrong, that was the factor that prevented me from getting on with my life!

marshallka

barloo69 wrote: »

Dont know what to do.

Have received a letter from Picture today telling me my No Claims Bonus is now due (3.5k) and I have the option to either request in the form of a cheque or use it against the o/s loan balance thus reducing payments.

Has anybody else taken this No Claims Bonus from Picture.

Does anybody know if I accept this £3.5k it will affect the calculation on the PPI misselling aspect. Or are the 2 tiers seperate ?

As ever, answers on a postcard please?

GIve it to me:T:T

I would accept it and then let them sort this when you win your missale complaint. It will help against repaying the loan until you get your cashback in other ways.

Don't think it can harm your complaint can it???

You can always hope they "overlap" when they do the calculations and then if they ask for it back you can take years to pay it to them,:rolleyes:

Halpin

barloo69 wrote: »

Dont know what to do.

Have received a letter from Picture today telling me my No Claims Bonus is now due (3.5k) and I have the option to either request in the form of a cheque or use it against the o/s loan balance thus reducing payments.

Has anybody else taken this No Claims Bonus from Picture.

Does anybody know if I accept this £3.5k it will affect the calculation on the PPI misselling aspect. Or are the 2 tiers seperate ?

As ever, answers on a postcard please?

I'd love to offer some advice but would hate to get it wrong! So I reckon that calling Deloitte and asking them would be the best step!

marshallka

Halpin wrote: »

Yay! I can actually relax this weekend in the knowledge that something is actually happening!

I'd love to know how compensation is calculated... thanks to the PPI on my loan I couldn't sell my house when I split up with my partner and we have been forced to live together for over 2 years, waiting for this situation to be resolved... I still smile when I think that it was the PPI, which was supposed to help me out when whings went wrong, that was the factor that prevented me from getting on with my life!

With FOS its calculated like this. You take the PPI and divide by the PPI and loan added together. (BOTH without interest). Then you have a percentage.

You then take that percentage of your repayment and that is how much of your repayment went towards the PPI. You total the number of repayments you have actually made to date and times that by the part of the repayment that was towards the PPI. There you have what you have actually paid to date against your PPI. This should be refunded to you in money.

You then times the number of months the whole loan was over by the amount of the repayment that was towards the PPI and that is what the PPI would have cost you in total. You then take away the amount you have actually paid to date away from the total cost of the PPI and this is what your loan would be reduced by if you won a missale.

Simple

pinknico

barloo69 wrote: »

Dont know what to do.

Have received a letter from Picture today telling me my No Claims Bonus is now due (3.5k) and I have the option to either request in the form of a cheque or use it against the o/s loan balance thus reducing payments.

Has anybody else taken this No Claims Bonus from Picture.

Does anybody know if I accept this £3.5k it will affect the calculation on the PPI misselling aspect. Or are the 2 tiers seperate ?

As ever, answers on a postcard please?

As far as I know you just let the FSCS/Deloitte know the amount you've received and it goes into the calculations, makes no difference to your mis selling claim.

pinknico

Halpin wrote: »

Yay! I can actually relax this weekend in the knowledge that something is actually happening!

I'd love to know how compensation is calculated... thanks to the PPI on my loan I couldn't sell my house when I split up with my partner and we have been forced to live together for over 2 years, waiting for this situation to be resolved... I still smile when I think that it was the PPI, which was supposed to help me out when whings went wrong, that was the factor that prevented me from getting on with my life!

I couldnt tell you how the compensation is calculated as the lady I spoke to today said its complicated! And so I think thats a wait and see!
Hopefully they do it the same as the FOS, but after the first £2000 you only get 90% of the remaining amount due.

dialysis

sal7 wrote: »

I have also been lurking around this thread for a while and am really interested to see that there is a possibility of challenging the selling of the loan. I have always been uneasy about how my loan was sold and I think that this just confirms what I have been thinking.
So to answer the question -yes I am thinking of challenging if I can work out how. And now I'm no longer a lurker but getting involved.:j

Hi Sal7 hello:hello::hello: and welcome to our thread and you are now a picturite lol we will sort out challenging the loan together there are afew on here want to challenge their loans.:D