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

bhoywonder

Hi Folks,

Just a quick question, i recently won my case about the PPI on a Picture loan, however I have just received a letter advising me I am due a payment back from the ppi company. These payments were made at year 3, 4 and 5.

I am surprised as I got back all of the PPI that was charged.

Has anyone else had a payment or received this letter.

Thanks

amersall

If you are due a payout you should get this.
Also,ring FSCS and ask about cancelling the ppi as you get the ppi back less the bonus claims at the intervals you described.
The FSCS only compensate for ppi mis sell,the ppi is still on the loan,if it is still running,so you should ring and ask about cancelling.
When you get the ppi back you should look to reducing the loan balance as you will pay a lot of interest on this over the remaining term that is,again, if the loan is still running.

bhoywonder

amersall wrote: »

If you are due a payout you should get this.

Thanks for the response. This is my 5th and final year of which I am due 10% of the overall PPI. I have been paid out the full PPI by FSCS but was surprised to get this letter as the payout took into consideration the bonuses I received back.

I will wait and see and if they send a cheque I will greatfully accept it.:rotfl:

amersall

bhoywonder wrote: »

amersall wrote: »

If you are due a payout you should get this.

Thanks for the response. This is my 5th and final year of which I am due 10% of the overall PPI. I have been paid out the full PPI by FSCS but was surprised to get this letter as the payout took into consideration the bonuses I received back.

I will wait and see and if they send a cheque I will greatfully accept it.:rotfl:

Hi there, do you know the ppi is still on your loan?,you need to query this as the ppi is still running,give FSCS a ring and ask how you get the ppi taken off the loan and can you cancel the policy.

bhoywonder

amersall wrote: »

bhoywonder wrote: »

Hi there, do you know the ppi is still on your loan?,you need to query this as the ppi is still running,give FSCS a ring and ask how you get the ppi taken off the loan and can you cancel the policy.

As far as I am aware the moment I was paid out by the FSCS the PPI was cancelled. I phoned picture today and they confirmed that the payment should be with me in a few weeks.

I think I will call the FSCS and see what they say.

Thanks

dilydaly

hi there

I have been following this forum for some time now and I finally sent a completed application to FSCS on 27th june. they have since passed my claim onto deloittes and I received a letter from them last week advising me "the initial reviews have now been completed and they are now processing my claim" I have had about 5 calls from Binita asking various questions about my job @ the time,how long I have stayed in my current home and If my loan is still current.
I am still a bit unsure of what to expect next as I have never cancelled the ppi on the loan and I am in my 5th year of a 15 year term loan.
If I do win the claim for compensation will they just deduct it from my existing loan or will I receive a cheque? Any advise would be greatly appreciated.

thanks

di3004

dilydaly wrote: »

hi there

I have been following this forum for some time now and I finally sent a completed application to FSCS on 27th june. they have since passed my claim onto deloittes and I received a letter from them last week advising me "the initial reviews have now been completed and they are now processing my claim" I have had about 5 calls from Binita asking various questions about my job @ the time,how long I have stayed in my current home and If my loan is still current.
I am still a bit unsure of what to expect next as I have never cancelled the ppi on the loan and I am in my 5th year of a 15 year term loan.
If I do win the claim for compensation will they just deduct it from my existing loan or will I receive a cheque? Any advise would be greatly appreciated.

thanks

Hi there

If this was a rejection then I'm quite sure you would have heard way before now, so with them processing the claim that will probably mean they are now arranging the cheque payment to be made.
However if you ring the FSCS as ever case is different, they will confirm on how they will be awarding this, my guess is a cheque payment.
Good luck and please keep us posted, cheers.;)

Buns_Mum

I've received a letter from the FOS to say that my case paperwork against Wilmslow Finance has now been passed to the FSCS (Wilmslow went into administration in May I think). My claim was upheld by 2 adjudicators at the FOS and had been in the queue for an ombudsman because Wilmslow had appealed (I've read on the forums that this was pretty much the norm) when they went into admin. Does anyone know what sort of timescales are now involved before I've any chance of getting some money back?

Thanks in advance.

di3004

Buns_Mum wrote: »

I've received a letter from the FOS to say that my case paperwork against Wilmslow Finance has now been passed to the FSCS (Wilmslow went into administration in May I think). My claim was upheld by 2 adjudicators at the FOS and had been in the queue for an ombudsman because Wilmslow had appealed (I've read on the forums that this was pretty much the norm) when they went into admin. Does anyone know what sort of timescales are now involved before I've any chance of getting some money back?

Thanks in advance.

Hi there

Sorry about this, its like starting all over again isn't it?
Don't worry though you should be okay here, they will probably note the FOS upheld and will follow on.
The FSCS will pass on normally to a company called deloittes, who will collect the information, and if they require further info they will write to you.
So even though the company that you want to reclaim from are no longer active, they will be now be waiting to go into default, as soon as this is confirmed by the FSCS then the compensation will be sorted from there,

It can be difficult to predict a timescale, but I would contact the FSCS regularly and ask for updates, good luck.;)

dilydaly

di3004 wrote: »

Hi there

If this was a rejection then I'm quite sure you would have heard way before now, so with them processing the claim that will probably mean they are now arranging the cheque payment to be made.
However if you ring the FSCS as ever case is different, they will confirm on how they will be awarding this, my guess is a cheque payment.
Good luck and please keep us posted, cheers.;)

hi there

thanks for your advise.I called the FSCS today who advised me that they have the paperwork back and it is now getting checked over by them.They said I will be getting a cheque soon.How good is that!!