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

blakeney

hi clare #Before you go to the fos you have to put your complaint to norton and give them 8 weeks a complete waste of time but fos will not look at your complaint till you get your final response from norton and you have to send the norton letter (10 pages long saying nothing) in with your fos form and then another 6 to 12 months with the fos so a long wait sue

Spud63

Sue,

I have already had that, that is the letter I got last November, all it really says is their sales process (though many, many pages saying that and how they no longer have a recording of my calls).

This letter is their final response and they say if I am still unhappy go to the FOS, I went to and was originally accepted by the FSCS as I believed and still believe that Picture actually sold the policy.

Norton just took my personal details and put me through to Picture, it would appear from FSCS that is sufficient for Norton to be responsible !!

So guess I am going to have to go for Norton even though I don't think they sold me the insurance !!!

Clare

Spud63

We have been really struggling financially for a long time and this is due to the Picture loan and its PPI, we tried to re finance the loan but because of the PPI we had barely repaid anything, in fact was only repaying the single premium, let alone the interest.

Regulary Picture put the repayments up and as we went into reccession my husband had to take a pay cut, as the Bank of England reduced the rates, Picture did not follow suit and we now struggle to repay them every month the repayments are almost £1,200 Picture told us there was nothing they could do to help us, this is how I discovered the single premium PPI.

Would it be worth sending the FOS a hardship letter do you think it might spend things up ???

Clare

blakeney

same here we only ever had one rate decrease but when they were going up we had five increases fos said to me that they can not change the length of time it takes even if hardship case i no we took the loan out thought we were doing right at the time but have lived to regret it big time never been so hard up sue

blakeney

by the way if fos rule in our favour we wont get a big cheque like the fscs paying those that took ppi with picture they put the loan to where it was with out the ppi and pay however many months you have paid ppi back to you in a cheque

Spud63

Typical....just our luck eh ?

Just so long as the loan is reduced and I can take it eslewhere (ie put on my mortgage which relatively small, why oh why did I not remortgage at the time) and hopefully reduce monthly repayments.

I am soooooo angry as I know Picture are to blame, but intend to use that anger to fight this all the way, they ripped us off and should not get away with it.

How long have you been waiting now Sue ?

Clare.

Spud63

blakeney wrote: »

by the way if fos rule in our favour we wont get a big cheque like the fscs paying those that took ppi with picture they put the loan to where it was with out the ppi and pay however many months you have paid ppi back to you in a cheque

What about interest, we been paying our almost 5 years ???

blakeney

well started the claim last october took till march for fscs to say not there remit then waited the 8 weeks for norton so its just gone in to the fos and have had there acknowledgment letter and saying they will be back in touch in two months and then every two months after that
interest say the ppi worked out at 50.00 a month you have paid 60 months so you would get 60 x 50.00 plus 8 percent not sure how much ppi we are paying a month though all i no is i paid 18,000 ppi and i did not no that at the time it is only when i broke my arm went to claim and they said no only my husband is covered that the ugly truth of what the ppi cost was

blakeney

also not a good time for adding on to mortgages we have paid our mortgage of so have this very high secured loan and it is very hard to get a mortgage now with the climate

Spud63

blakeney wrote: »

well started the claim last october took till march for fscs to say not there remit then waited the 8 weeks for norton so its just gone in to the fos and have had there acknowledgment letter and saying they will be back in touch in two months and then every two months after that
interest say the ppi worked out at 50.00 a month you have paid 60 months so you would get 60 x 50.00 plus 8 percent not sure how much ppi we are paying a month though all i no is i paid 18,000 ppi and i did not no that at the time it is only when i broke my arm went to claim and they said no only my husband is covered that the ugly truth of what the ppi cost was

A slow painful wait then

That's terrible about the cover, we are the other way round, got joint cover but I was classified as a "housewife" which is clearly stated on the forms, yet we were sold payment protection for both of us !!???

Wonder what the chances of Norton going into default ?

Well I truly hope you don't have to wait months and months.

Clare