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

di3004

liverpool1966 wrote: »

Hi all, a bit disappointed today. I sent off my claim forms for the picture loan ppi last April. After hearing nothing i e-mailed fscs last month to say i had not heard anything. A few days after they replied and said they had found my claim and it should not be long before i hear something. Yesterday i e-mailed them again and today i recieved this from dellottie ?

After consulting the system it appears that this claim has been closed due to a lack of evidence.

Regards,

Martin Burke

I sent off the copy of the loan agreement with the ppi on it. i explained i was sold it over the phone and was not told it was only for 5 years. And did not know the interest was added to the whole loan etc. etc. (((

Hi there

Sorry to hear this.
With Picture in default, I take it the lender is still active though?

With mine, as the broker was no more (reason for making a claim with the FSCS), I requested for the documentation from the lender, because the broker passes on the details of the loan to the lender on completion as well, so maybe if you've not tried getting hold of your details yet, ask if they will look into this again if your able to get hold of your documents of the loan from the lender.


I take it you mean lack of evidence via paperwork, or do they mean of the mis sell?

Good luck.

liverpool1966

I had the loan directly from Picture so i'm a bit lost now. As i said i sent off a copy of the agreement from picture with my claim ?

liverpool1966

Sorry forgot to say that was all the e-mail said. i copied and pasted it.

di3004

liverpool1966 wrote: »

I had the loan directly from Picture so i'm a bit lost now. As i said i sent off a copy of the agreement from picture with my claim ?

So Picture were both the broker and lender of the loan then?

I know they are in default, but wondering if your data would still be held on files.
As they should be for at least the last 6 years.

What you could do is contact the Information Commissioners office) ICO and ask where would you stand on trying to get hold of your information by a Subject Access Request (SAR) from a business that is no longer active or in default.
Maybe there are other ways you can still try getting hold of your data of this loan.

https://www.ico.gov.uk/Global/contact_us.aspx

As I believe there would be others in the same situation as you as well.

Being sold these policies though are a rip off and have been banned, the full cost was not explained to you, and not only that you would be still paying for this for the life of the loan, yet it would only for the first 6 years.
The FSCS/Deloittes should be well aware that these policies are well frowned upon, especially by regulators.

liverpool1966

Thank you for your reply's. my ppi ran out last monday, five years after i took the loan out. I did reply to delottie and ask them to look into it again. the lack of communication from them really is annoying :mad:

MagP

Hi Liverpool, I've just sent my claim in and it worries me that you've been rejected! Mines was with netloans but the same implications as yours. We were also sold it over the phone and basically told that would be the only way we would get it! Couldn't get the original policy certificate from paragon, so had to phone fscs to confirm we could sent in our other evidence. At that point the fcsc we really good and told me I should go to fos about paragon as they were not offering me my original policy. I hope you are successful!

liverpool1966

Hey Magp, just had this e-mail so not all lost yet:)


Sorry for the misunderstanding I have spoken to the relevant team and they have confirmed they received your correspondence and are expecting to deal with it shortly.

Regards

MagP

Can someone please work out roughly what we would be owed if our claim for compensation was successful with the fscs?

Ppi £6674.25
interest amount £12471.25
Total payable £19146.00

That was taken out in 2007 but I'm not sure if the interest on the ppi was variable, at point of taking out the loan it was 11.2%.

luckyc_2

Rang FSCS today. They confirmed my claim is succesful and the cheque will be posted either tonight or monday.
Dont know how much its for but will let you know.

Already said this in a PM to Di but Ill say it again in public that you have been fantastic in your support and encouragement and knowledge over the last couple of years. One in a million!!

And for others with ongoing claims or wanting to start one dont give up at the first hurdle. Fight them all the way and know that there are people on here that are going or been thru the same all backing you up!

To your success!!!!

Think ill have a beer or two tonight!!! Lol

MagP

Well done luckyc I'm so happy for you!