We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

FSCS - Compensation

honey2_2
honey2_2 Posts: 241 Forumite
Tenth Anniversary Combo Breaker
edited 23 September 2009 at 2:13PM in Reclaim PPI & other insurance
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
«13456720

Comments

  • marshallka
    marshallka Posts: 14,585 Forumite
    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
  • Brilliant -thanks a million, will check the link out.
  • 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:
  • Thanks for letting us know Honey - it's a relief to know our long wait is finally coming to an end.
  • dialysis
    dialysis Posts: 1,778 Forumite
    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
    pinknico Posts: 3,261 Forumite
    Brilliant news Honey, well done. xx
    DS1 12/10/04
    DS2 13/07/06
    DD1 06/12/07
  • di3004
    di3004 Posts: 42,579 Forumite
    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
    The one and only "Dizzy Di" :D
  • 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:
  • 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.
  • 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:
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.7K Banking & Borrowing
  • 253.4K Reduce Debt & Boost Income
  • 454K Spending & Discounts
  • 244.7K Work, Benefits & Business
  • 600.2K Mortgages, Homes & Bills
  • 177.3K Life & Family
  • 258.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.