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

LilacPixie

Yeah It appears to be something along those lines.. its a special team I believe so I suspect FOS or FSA have have them a warning to sort it themselves or be fined heavilly or something.... Whatever i'm a happy little bunny, nice family portrait for livingroom in new home, newer car and my parents helped out with some solicitors fees so we could make deposit requirments of mortgage deal we wanted. I wasn't alot but it will be nice to pay them back quicker than expected KWIM.

rydebry

just like to let you all in on my claim against piture for missold ppi.phoned fscs late december,recieved questionaire of them and returned it on the 11th january.got up on friday to find a cheque for 12.726 pounds(pound sign wont work).so in all it took 1 phone call and about 10 minutes to fill form in.and all sorted in about 6 weeks.have that picture you robbers

LilacPixie

Rydebry - that is fantastic news.

Deloittes phoned me yesterday.. i wasn't quite with it as mid boob feed but they were wanting my marriage cert. I told them I had sent it in at the start and they had returned it.. My caseworker said she can see that from my case notes but they don't appear to of taken an actual copy and will need to clarify with FSCS if it is actually needed as they can confirm it has been seen. In my post baby fuzz (10 days old today) I forgot to ask if that meant everything was getting handed back to FSCS

di3004

rydebry wrote: »

just like to let you all in on my claim against piture for missold ppi.phoned fscs late december,recieved questionaire of them and returned it on the 11th january.got up on friday to find a cheque for 12.726 pounds(pound sign wont work).so in all it took 1 phone call and about 10 minutes to fill form in.and all sorted in about 6 weeks.have that picture you robbers

Sorry I missed this one, but Well done and Congratulations!:beer:
That is a lovely surprise.:T

chancer63

Hi all your views here would be appreciated.
Bearing in mind we are absolutely broke despite being on a DMP - here is our ppi situation.
We have continued paying ppi on our original picture loan, they are now owned by a new company I believe, whose name escapes me!
Last year we had our first "bonus" cheque for no claims which was nice as we were struggling - we went down to one income for 4 months - long story. We will be in the same situation this summer unless I find work for a few months so obviously the bonus cheque will be welcome. We are struggling to pay our £512 a month secured loan anyway and so far haven't missed any payments because we needed our bonus cheques. When I think we are only getting money back that we already paid anyhow plus we were definitely mis sold the ppi - I am wondering if we should just cancel ppi and reclaim through financial services body? Then if we needed to we could miss a loan payment too? I know it's not ideal and I know I could review with CCCS who our DMP is with but the problem is our income goes up and down because I am a full time student and this means our creditors get messed around.
I fear we are doomed with our house anyway as we are now in negative equity and if interest rates go up we will certainly end up defaulting on our secured loan.
Just feel like handing keys back and walking away at the moment . Can't go bankrupt because of things I am involved in don't allow it plus I don't want to anyway.
Help???:(

di3004

chancer63 wrote: »

Hi all your views here would be appreciated.
Bearing in mind we are absolutely broke despite being on a DMP - here is our ppi situation.
We have continued paying ppi on our original picture loan, they are now owned by a new company I believe, whose name escapes me!
Last year we had our first "bonus" cheque for no claims which was nice as we were struggling - we went down to one income for 4 months - long story. We will be in the same situation this summer unless I find work for a few months so obviously the bonus cheque will be welcome. We are struggling to pay our £512 a month secured loan anyway and so far haven't missed any payments because we needed our bonus cheques. When I think we are only getting money back that we already paid anyhow plus we were definitely mis sold the ppi - I am wondering if we should just cancel ppi and reclaim through financial services body? Then if we needed to we could miss a loan payment too? I know it's not ideal and I know I could review with CCCS who our DMP is with but the problem is our income goes up and down because I am a full time student and this means our creditors get messed around.
I fear we are doomed with our house anyway as we are now in negative equity and if interest rates go up we will certainly end up defaulting on our secured loan.
Just feel like handing keys back and walking away at the moment . Can't go bankrupt because of things I am involved in don't allow it plus I don't want to anyway.
Help???:(

Hi there

So sorry to hear of your issues here, and if mis sold I would go for it, if your on DMP the policy is also now worthless to you, and if the business is no longer active then the FSCS should then be able to help.
I would certainly go this direction first and see what happens.

You can cancel the PPI at any-time, but some wait to have the case resolved, so its up to you either way.;)

chancer63

Thanks for that. Been reading other posts about similar situations and also over on the consumer action forums. We had been putting off selling the house due to negative equity situation but as picture/webb are 2nd charge it is possible we could ask for a reduced settlement figure on the basis that it would cost them more to repossess and sell. Not in arrears yet as said but that will happen due to rising prices in fuel and food costs.
I just want rid of all this debt - we are currently about 15 -20k short on paying off 2nd charge with current house prices so it would be 2nd charge that wasn't cleared.
Didn't realise that ppi was worthless because of DMP - how does that work?
Think we will cancel ppi and start a mis selling claim, try and get a reduced monthly payment set up while we sell house.
Wouldn't mind but been here before with ex husband in last recession of early 90's! House was repossessed when his business went down and divorced. Managed to re marry and buy another house - climb back up. What's the point? Seems like it gets you no where and in case any one wants to point the finger that we spent it, I would say it's more likely my choice of husband than my personal spending habits :rotfl:

Credit rating shot to pieces again, can't see the point in owning own home :mad:
Rant over

di3004

chancer63 wrote: »

Thanks for that. Been reading other posts about similar situations and also over on the consumer action forums. We had been putting off selling the house due to negative equity situation but as picture/webb are 2nd charge it is possible we could ask for a reduced settlement figure on the basis that it would cost them more to repossess and sell. Not in arrears yet as said but that will happen due to rising prices in fuel and food costs.
I just want rid of all this debt - we are currently about 15 -20k short on paying off 2nd charge with current house prices so it would be 2nd charge that wasn't cleared.
Didn't realise that ppi was worthless because of DMP - how does that work?
Think we will cancel ppi and start a mis selling claim, try and get a reduced monthly payment set up while we sell house.
Wouldn't mind but been here before with ex husband in last recession of early 90's! House was repossessed when his business went down and divorced. Managed to re marry and buy another house - climb back up. What's the point? Seems like it gets you no where and in case any one wants to point the finger that we spent it, I would say it's more likely my choice of husband than my personal spending habits :rotfl:

Credit rating shot to pieces again, can't see the point in owning own home :mad:
Rant over

Hiya, rant away lol .

Basically the ppi is still added to your loan and your still paying for the loan, even if its with DMP on reduced payments, but your not going to be able to use the ppi now, for example, sickness and unemployment, as your unable to find the full amount of the usual loan repayment/with ppi every month.
Does that make things a little clearer?;)

amersall

Hi there chancer63, please do not cancel the ppi as you will increase the term and apr and this will not reduce your monthly payment.So even if you win mis sell then you will be paying more back in the long run.

chancer63

Ah right okay. Well our payment to mortgage and picture has been listed as a priority debt so they receive full payments at the moment and are not included in the amount paid to CCCS.
As said I am going to look at making reduced payments though.
It just helps to talk doesn't it? and off -load. Like many I just get so down sometimes.
I think we have just been holding out in hope (of what?) and it's just not worth it - it's only bricks. just been brought up with that home -owner= security mentality
Thanks