picture finance ppi problems

homer_simpson_2

Hi,

i took out a secure loan with picture around 6 years ago, and was told as its a secure loan i had to take out ppi, and was not told this only lasted 5 years!! definate mis-selling!

i have now paid loan off but have being trying to claim the ppi back,

i went though the fscs route, they passed it on to deloitte, and they came back saying the loan was actually with capital 1 home owner loans,so they could not help, i still have original loan agreement from picture and it mentions nowere on this about any involvment with capital 1

I phoned capital one about this, and they asked for a copy of fscs letter and loan agreement, and came back saying its nothing to do with them,

So finally i phoned webb resolution, who took over the loan after picture folded, and asked them who the loan was with, and they said picture, told them all this and asked if they could see any involment from capital one, and they knew nothing about it......

I could understand if picture acted as a middleman for capital one and resold there loan,but my loan agreement was with picture, and it was there salesman who mis sold me the ppi, so surely the book stops with picture?

another thing annoying me is the fact the ppi only lasted 5 years, when it was a 15 year loan, but after the 5 years was up my repayments stayed the same, as did the length of my loan, so how does that work????

ive been on with this for 12 months now, and its really annoying:mad: im getting to the point were i feel like putting it in the hands of one of those ripoff ppi claims scavengers just to get some kind of result.

so please, if anybody can point me in some vauge direction as were to go next it would be most helpful:)

roonaldo

homer_simpson wrote: »

Hi,

i took out a secure loan with picture around 6 years ago, and was told as its a secure loan i had to take out ppi, and was not told this only lasted 5 years!! definate mis-selling!

yep, if if you were not told then its mis-sold.

i went though the fscs route, they passed it on to deloitte, and they came back saying the loan was actually with capital 1 home owner loans,so they could not help,

I think they meant the seller is Capital one home loans, they are a broker in Macclesfield, they are no longer trading.

i still have original loan agreement from picture and it mentions nowere on this about any involvment with capital

the lender is picture, the broker is capital one home loans. it will only have the lender on the credit agreement.

I phoned capital one about this, and they asked for a copy of fscs letter and loan agreement, and came back saying its nothing to do with them,

the credit card company?? lol. you couldnt have spoken to capital one home loans as they dont exist anymore! if you spoke to the credit card company then its a completely different company.

So finally i phoned webb resolution, who took over the loan after picture folded, and asked them who the loan was with, and they said picture, told them all this and asked if they could see any involment from capital one, and they knew nothing about it......

i doubt they would, they bought the loan and probably know little about the sale, they only service it now.

I could understand if picture acted as a middleman for capital one and resold there loan,but my loan agreement was with picture, and it was there salesman who mis sold me the ppi, so surely the book stops with picture?

I think you're getting them muddled up. Do you remember seeing a broker called Capital one home loans? (aka HFS loans ltd) as they seller of the policy they are responsible for the sale.

another thing annoying me is the fact the ppi only lasted 5 years, when it was a 15 year loan, but after the 5 years was up my repayments stayed the same, as did the length of my loan, so how does that work????

as the single premium is spread over the term of the loan.

ive been on with this for 12 months now, and its really annoying:mad: im getting to the point were i feel like putting it in the hands of one of those ripoff ppi claims scavengers just to get some kind of result.

they wont do anything you havent done already, they only send a letter on your behalf which you have already done.