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

angmc

Hi, just wondering if anyone can give me some advise although I think I've come to a dead end with my PPI claim.

I was sold PPI in June 2002 through a broker called Mortgage Advise Services Ltd. It wasn't explained properly to me and was paid as a single premium. Mortgage Advice Services Ltd. have gone into liquidation as have the actual insurers Optima Insurance Services Ltd. I wrote to the Financial Ombudsman who said as the broker had gone into liquidation I needed to contact the Financial Services Compensation Scheme which I duly did but they say as the policy was taken out before 14/01/2005 they can't handle the claim and referred me back to The Financial Ombudsman! I did also write to the Underwriters (Assurant Solutions) who wrote back saying as they didn't sell the policy it wasn't their responsibility. The Financial Ombudsman have asked me to forward them a copy of this letter which I will do but I'm not sure it will be of much use.

Is there anything else I can do?

Thanks

angmc

Sorry meant to say the PPI was sold by the broker alongside a mortgage with Northern Rock.

-taff

No, you can't do anything else, your complaint is over.

showergirl

jaynemacdonald1979 wrote: »

I hope so been ages now.

I did mine with picture a couple of years ago and I think it took a couple of months to come through. I know it is an anxious time for you but hang in there I hope it will all come good for you

jaynemacdonald1979

Thank you showergirl. I called other day but as the ppi part is only in hubbys name but loan is joint they wont deal with me now. So just gotta wait. Not a single bit of good luck yet out of 7/8 claims in.

amersall

also write to the Underwriters (Assurant Solutions) who wrote back saying as they didn't sell the policy it wasn't their responsibility. The Financial Ombudsman have asked me to forward them a copy of this letter which I will do but I'm not sure it will be of much use.

See what FOS come back with, fingers crossed.

jaynemacdonald1979

Woohooooo chq for £3g came this mornin over the moon yiiipppeeeeeee xx

blackcurrant

No, I didn't get cheque just a letter and the email they detailed above with this statement " You state that your loan payments should be adjusted accordingly however this is not correct. When calculating the compensation figure, the FSCS consider all payments already made and the payments that you will pay in the future to the end of the policy. This is all put together and applied as a lump sum to the outstanding balance. " but nothing about my loan being paid off early as a result. Isn't there a treating customers fairly obligation they are not adhering to by not telling how this has affected my balance?

-taff

ask them again.

showergirl

jaynemacdonald1979 wrote: »

Woohooooo chq for £3g came this mornin over the moon yiiipppeeeeeee xx

Well done. Lets hope your luck is changing. Don't forget to treat yourself you deserve it:j