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

di3004

luckyc wrote: »

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

Thank you for your pm :A so lovely of you.

So chuffed with your news as well! Congratulations!:beer::T:j.

Its been my pleasure honey xxxxx Well done !:T:T

Enjoy your beer - you deserve it.:beer::beer::A

di3004

MagP wrote: »

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%.

Well done to you too :T:j Congratulations!:beer:
Great work!:T

I am not the one for the calculation side of it, sorry, I am hopeless at workings out and afraid I may come back with the wrong amounts but hopefully someone will be here soon to check them out for you, or you could maybe post this on the Reclaim PPI thread/discussion where lots post on there with their's too.
Good luck.;)

luckyc_2

ITS HERE AND ITS A BEAUTY!!!!!

Cheque arrived just now.

NINE THOUSAND AND EIGHTY NINE POUNDS FIFTY FIVE PENCE!!!

After so so long a fight i am so happy with the outcome!!!!

Thanks to everyone on here for their support.

Bills arrears paid, and Christmas sorted!!!!

MagP

Well done luckyc, just hoping mine is successful too. We haven't had any acknowledgement letters from fscs so I will give them a call in the morning, hope you enjoy spending it! X

MagP

Luckyc, I just curious, can you tell me how they worked out your sums? I only ask cause your loan is finished, mine is still ongoing? X

luckyc_2

No probs MagP.

I dont know how they will work out with your figures but this is how they broke mine down in the letter:

Original ppi £8785
Plus interest (this is the amount the lender has already charged to date on the amount of the premium) £1325.29
Less benefits recieved ( amount already recieved from insurer for example an amount claimed or a no claims bonus) £00.00
Less rebate on cancellation( this is the value of the policy if you decide to cancel it. You will need to contact the insurer and arrange to do this direct) £531.76 ..... Im going to come back to this one cos i have a question about it (DI HUNNNEEEE I NEED YOUR ADVICE!!! lol)
Plus a reasonable rate of return ( this amount is to compensate you for the monthly payments you have made in respect of the ppi premium) £520.99
Equals £10,099.50

FSCS can only pay 90% of thr total loss so it came to £9089.55

Hope this helps Magp x

And also, going back to the above, it mentioned in the letter that the final figure had subtracted the rebate on cancellation; the value of the policy if i decided to cancel it and that i will need to contact the insurer and arrange to do this direct.
So does that mean even though my loan was settled in april 2007 the policy wasnt cancelled and i need to request freedom/wilmslow once more to get back £531.75? And if so do i contact them direct or thru fscs cos they are in default?
And do i ask for interest on it or just that amount?
Its not urgent but would be nice if it was a few more quid all the same! Lol

Time to get your Supergirl costume back on and save the day once more Di!!! Lol x

di3004

luckyc wrote: »

ITS HERE AND ITS A BEAUTY!!!!!

Cheque arrived just now.

NINE THOUSAND AND EIGHTY NINE POUNDS FIFTY FIVE PENCE!!!

After so so long a fight i am so happy with the outcome!!!!

Thanks to everyone on here for their support.

Bills arrears paid, and Christmas sorted!!!!

Absolutely fantastic!:T:beer::j

WOW, that is a fantastic amount, so pleased for you LuckyC, you done great here, well done again! xx:beer:

di3004

luckyc wrote: »

No probs MagP.

I dont know how they will work out with your figures but this is how they broke mine down in the letter:

Original ppi £8785
Plus interest (this is the amount the lender has already charged to date on the amount of the premium) £1325.29
Less benefits recieved ( amount already recieved from insurer for example an amount claimed or a no claims bonus) £00.00
Less rebate on cancellation( this is the value of the policy if you decide to cancel it. You will need to contact the insurer and arrange to do this direct) £531.76 ..... Im going to come back to this one cos i have a question about it (DI HUNNNEEEE I NEED YOUR ADVICE!!! lol)
Plus a reasonable rate of return ( this amount is to compensate you for the monthly payments you have made in respect of the ppi premium) £520.99
Equals £10,099.50

FSCS can only pay 90% of thr total loss so it came to £9089.55

Hope this helps Magp x

And also, going back to the above, it mentioned in the letter that the final figure had subtracted the rebate on cancellation; the value of the policy if i decided to cancel it and that i will need to contact the insurer and arrange to do this direct.
So does that mean even though my loan was settled in april 2007 the policy wasnt cancelled and i need to request freedom/wilmslow once more to get back £531.75? And if so do i contact them direct or thru fscs cos they are in default?
And do i ask for interest on it or just that amount?
Its not urgent but would be nice if it was a few more quid all the same! Lol

Time to get your Supergirl costume back on and save the day once more Di!!! Lol x

LuckyC
I would contact the FSCS about this, as it seems to have differed since my success with them over a year or so ago, and of course like yours, mine was a settled loan, and I did not receive any letters about the cancellation.
So give them a call and ask if they can explain what they actually mean on this one, good luck.

MAG

As LuckyC explained.

I believe they may refund towards the balance of if any arrears, and you should still therefore get something back to you as well, but this may depend on the company your dealing with as well.
You could actually make a general query on this direct with the FSCS, they should confirm, you have the right to know.

Good luck.

MagP

Thanks guys, I suppose there's no point on me speculating, we will just need to hold our breaths and wait to see! X

MagP

Just called fscs to check they had got my application form, they confirmed they had and it was with the claims gatherers? What does that mean, I asked if there was any further info I could give them and they told me te claims gatherers would contact me themselves if anymore info need. I only called them because I hadn't received acknowledgement for my application. How long do you think it will take from here?