FSCS - Compensation

honey2_2

Hi

I have a loan with Picture Financial with PPI which I paid just over £10,000 for when taking out the loan been running since 2005. As everyone knows the FSCS have advised that Picture are in default and the FSCS are handling compensation claims in relation to Picture and PPI.

I have been told today by the FSCS that my claim after being with Delloite is back with the FSCS and is at the last stage, where all data is being re-checked to ensure there are no errors before a cheque is processed to me (Claim number less than 10).

Does anyone know what the compensation limits are please - I have checked the FSA and FSCS web sites all I can find is the first £2000 100% and for the remainder 90%. I would really appreciate any advice on this please.

Thank you

Honey2

marshallka

There is a big thread here and if you go to the last pages then some have been compensated yesterday.

http://forums.moneysavingexpert.com/showthread.html?t=1897143

honey2_2

Brilliant -thanks a million, will check the link out.

honey2_2

Just had a return call from the FSCS a few min ago. They confirmed that my cheque for compensation will be with me in the next 7-10 days. :j They would not tell me the figure over the phone however advised that the info I had in relation to the 1st £2000 at 100% and remainder at 90% was correct.

I am pleased that at last after a year and half of waiting for Picture to be declared in default that this matter is coming to a conclusion.

Good luck to all Picture customers out there who have claims with the FSCS.

Honey2 x:beer:

chickpee

Thanks for letting us know Honey - it's a relief to know our long wait is finally coming to an end.

dialysis

chickpee wrote: »

Thanks for letting us know Honey - it's a relief to know our long wait is finally coming to an end.

Thanks Honey thats really good news.:T:T:T

pinknico

Brilliant news Honey, well done. xx

di3004

honey2 wrote: »

Just had a return call from the FSCS a few min ago. They confirmed that my cheque for compensation will be with me in the next 7-10 days. :j They would not tell me the figure over the phone however advised that the info I had in relation to the 1st £2000 at 100% and remainder at 90% was correct.

I am pleased that at last after a year and half of waiting for Picture to be declared in default that this matter is coming to a conclusion.

Good luck to all Picture customers out there who have claims with the FSCS.

Honey2 x:beer:

Brill news Honey, well done.
:j:j:beer::j:j:T:T

honey2_2

Hi

Sorry to post this but have to ask - has anyone received a letter from the FSCS to say that their claim for miss sold PPI with Picture has been rejected as the PPI was not miss sold!!!!!!!!! ??? No compensation due. Just a friend of a friend has been in touch to say this is what they have received.... Not sure if there is any truth in it.

Honey 2:rolleyes::rolleyes::rolleyes:

chickpee

honey2 wrote: »

Hi

Sorry to post this but have to ask - has anyone received a letter from the FSCS to say that their claim for miss sold PPI with Picture has been rejected as the PPI was not miss sold!!!!!!!!! ??? No compensation due. Just a friend of a friend has been in touch to say this is what they have received.... Not sure if there is any truth in it.

Honey 2:rolleyes::rolleyes::rolleyes:

Eeeek - that's a worrying thought.

If it's true I wonder whether it is because someone has already claimed on the ppi. I don't mean the no claims bonus part as I understand that is deducted from the compensation if it has already been paid out.

Let us know if you hear more about it. I won my case with the FOS so I am keeping everything crossed that the FSCS take the same view. Until we get our cheque though I will feel quite unsettled about it all.

honey2_2

Hi Chickpee

My thoughts exactly! Apparently no claims ever made on the PPI - something to do with the original call recordings being traced and listened to between Picture and customer which have proved there was no mis-selling. Trying to find out more - will give update asap.

Honey 2:eek: