FSCS - Compensation

busbyh

pinknico wrote: »

May09 seems very early for them to be in contact so maybe they thought there was a problem back then, was anyone else contacted before the cases were passed over or their case sent to Deloitte?

No never pinknico It appears deloitte have been wrking on them for a lot longer than we thought

pinknico

Hello honey can I just clarify that your friends family member said pre existing illnesses had not been discussed and FSCS yes they had so no mis sale?

And was this their only reason for mis selling that they put on their form?

Really cant believe it and hope they win their appeal.

honey2_2

Hi Pinknico

Apparently so, they are adamant that the advisor said nothing. I have not seen their claim form - My friend and I have had a look through their docs over the last day or so. They are just so distressed about this whole situation.
There is a booklet and letter that was sent to them prior to finalising the loan. It states any pre-existing conditions prior to taking out the loan will not be covered by the PPI. The accompanying letter pre dates the signing of the loan papers!!!!

They said the other item they put on their form was that the PPI was not for the full term but only for 5 years.
To be honest I think, they could have found it useful at the time of making a claim to the FSCS to get some more advise in completing the form. I think they were embarrassed to tell anyone even family!

Anyhoo this booklet actually does say the term of PPI however it does not say the 1st named applicant is the only person covered. I defo think they can ask for this claim to be re-loooked at.

Honey 2 xx

pinknico

Thanks so much honey2. Hope you get your cheque tomorrow!

marshallka

honey2 wrote: »

Hi Pinknico

Apparently so, they are adamant that the advisor said nothing. I have not seen their claim form - My friend and I have had a look through their docs over the last day or so. They are just so distressed about this whole situation.
There is a booklet and letter that was sent to them prior to finalising the loan. It states any pre-existing conditions prior to taking out the loan will not be covered by the PPI. The accompanying letter pre dates the signing of the loan papers!!!!

They said the other item they put on their form was that the PPI was not for the full term but only for 5 years.
To be honest I think, they could have found it useful at the time of making a claim to the FSCS to get some more advise in completing the form. I think they were embarrassed to tell anyone even family!

Anyhoo this booklet actually does say the term of PPI however it does not say the 1st named applicant is the only person covered. I defo think they can ask for this claim to be re-loooked at.

Honey 2 xx

So they had the booklet and papers to look over prior to signing for the loan??? Also do they have a copy of the application form. My application with a loan with Firstplus actually has all the PPI boxes "unticked" and also the questions that were asked about reading literature for the PPI are also left blank prior to signing the agreement, I did not tick anything cause i did not want itand did not read anything cause we did not want it. If they had the application from Picture then perhaps they do something similar?? Also was your friends loan advised or non advised?

honey2_2

It was a folder that contains the PPI booklet, copy loan papers, copy standard security forms - it says please read over all the relevant doc if you have any questions please call, if you are happy with the content please sign, once this is received your loan papers, standard security, dd etc will be forwarded to you for signing.

It looks to me that they were sent draft of docs and once they confirmed they were happy the original docs were sent for signing , then returned to Picture then their cheques were sent.
:eek::eek::eek::eek:


Honey2 xx

Sorry don't know if it was advised or non advised - I will try and find out tomorrow

busbyh

e MAIL FROM DELOITTE- WHAT DO YOU THINK


You have recently submitted a compensation claim to the Financial Services Compensation Scheme (“FSCS”) in relation to your PPI policy with Picture Financial Services PLC. To try to minimise the delay in assessing your claim, FSCS has forwarded your file to us to begin processing your claim.
We acknowledge the receipt of your completed Application for Compensation form however I would be grateful if you can advise me on the following:
I have noted that you refinanced your loan once the Picture loan was paid off. Therefore can you please advise the name and address of your new lender and also the relevant account number. If you have any contact details, i.e. department name, specific individuals, I would be grateful if you can supply these.
Alternatively, to save time, perhaps if you are in possession of account statements that show these details along with the relevant interest rates that you have been paying since the switch, you can either scan and email the document(s) to me, or alternatively you can fax them to me at the number below. If you are faxing the papers, I would appreciate it if you could give me a ring or a quick email when you do so that I can keep an eye out for it.
Your prompt attention to this matter will allow us to continue with processing your claim.
I look forward to receiving your reply and I thank you for your time.
Regards,


What do you all think!!

marshallka

honey2 wrote: »

It was a folder that contains the PPI booklet, copy loan papers, copy standard security forms - it says please read over all the relevant doc if you have any questions please call, if you are happy with the content please sign, once this is received your loan papers, standard security, dd etc will be forwarded to you for signing.

It looks to me that they were sent draft of docs and once they confirmed they were happy the original docs were sent for signing , then returned to Picture then their cheques were sent.
:eek::eek::eek::eek:


Honey2 xx

Sorry don't know if it was advised or non advised - I will try and find out tomorrow

Certainly sounding like they did have all the documents before signing.

Was anyone else sent these before signing???

busbyh

honey2 wrote: »

Hi Pinknico

Apparently so, they are adamant that the advisor said nothing. I have not seen their claim form - My friend and I have had a look through their docs over the last day or so. They are just so distressed about this whole situation.
There is a booklet and letter that was sent to them prior to finalising the loan. It states any pre-existing conditions prior to taking out the loan will not be covered by the PPI. The accompanying letter pre dates the signing of the loan papers!!!!

They said the other item they put on their form was that the PPI was not for the full term but only for 5 years.
To be honest I think, they could have found it useful at the time of making a claim to the FSCS to get some more advise in completing the form. I think they were embarrassed to tell anyone even family!

Anyhoo this booklet actually does say the term of PPI however it does not say the 1st named applicant is the only person covered. I defo think they can ask for this claim to be re-loooked at.

Honey 2 xx

honey2 I am going to read through the t&c and see if I can pick anything out that might be useful to your friend
Check out the FOS site there is something on there anout T & Cs which as I remember was quite useful.
GEt back to you soon:beer:

marshallka

busbyh wrote: »

e MAIL FROM DELOITTE- WHAT DO YOU THINK


You have recently submitted a compensation claim to the Financial Services Compensation Scheme (“FSCS”) in relation to your PPI policy with Picture Financial Services PLC. To try to minimise the delay in assessing your claim, FSCS has forwarded your file to us to begin processing your claim.
We acknowledge the receipt of your completed Application for Compensation form however I would be grateful if you can advise me on the following:
I have noted that you refinanced your loan once the Picture loan was paid off. Therefore can you please advise the name and address of your new lender and also the relevant account number. If you have any contact details, i.e. department name, specific individuals, I would be grateful if you can supply these.
Alternatively, to save time, perhaps if you are in possession of account statements that show these details along with the relevant interest rates that you have been paying since the switch, you can either scan and email the document(s) to me, or alternatively you can fax them to me at the number below. If you are faxing the papers, I would appreciate it if you could give me a ring or a quick email when you do so that I can keep an eye out for it.
Your prompt attention to this matter will allow us to continue with processing your claim.
I look forward to receiving your reply and I thank you for your time.
Regards,
Franco Tramontin
Deloitte & Touche LLP
Direct: +44 (0)207 303 8921
Fax: +44 (0)207 007 2588
Email: [EMAIL="ftramontin@deloitte.co.uk"]ftramontin@deloitte.co.uk[/EMAIL]
www.deloitte.co.uk
Deloitte & Touche
8th Floor
Bush House
North West Wing
Aldwych
London
WC2B 4PA


What do you all think!!

Cut and dried I would say... they just need to finalise it.:T