PPI Reclaiming discussion Part II

TheClarks

marshallka wrote: »

Looks great. Well done;)

phew, thank you :beer:

Mrs C says thanks too as i've been grumpy not knowing if i'm right.

TheClarks

di3004 wrote: »

From what I read here, this is great and seems to cover all areas of your reasons why this was mis sold, well done.:D
As said they have 8 weeks to get back to you with a response.;)

Good luck on the phone tomorrow hun, when you receive the agreement and calculations from the first one, if you can post up with the breakdown of the first loan settlement, and it should say how much they rebated you, a bit like mine when I had a loan consolidation.

May I ask who the broker was to the first loan ? (the one who arranged this for you from the start hun)?;)

With my first loan it was arranged by a broker called twopart/eloan who found us the lender Nemo, and it was then Nemo we had a loan the first loan with and an advance for a 2nd loan.;)

Or do I have my wires crossed here somewhere with yours hun as I am aware you had First plus as lenders I assume, am I correct, where a broker would arrange this for you from the start of the very first loan.;)

Loans.co.uk brokered the first FirstPlus loan, then direct for 2nd.

I'm hoping they will give me the agreement number and start date over the phone so i can get the letter straight out!

di3004

marshallka wrote: »

CLick did dissolve though and although the other click is still trading it did not buy out the dissolved. Where did you leave this one?? I forget... You were waiting for some more advice weren't you...Did you email or write another letter.

Yes hun just waiting for further advice on this one.;)

My point is - is that they dissolved in 2006 then it was the responsibility of the liquidators in order for creditors to make their claims, like other businesses etc, and with that happening, the director still walked away from this to continue with the other groups he have been running since 2001.

Obviously when something like this happens, and if anyone had anything to claim back then it still really be in my opinion that broker who still has funds to run and keep his other companies running and leaving that actual group the one that dissolved out of their hands.

Then obviously this is not the case......:rolleyes:

di3004

TheClarks wrote: »

Loans.co.uk brokered the first FirstPlus loan, then direct for 2nd.

I'm hoping they will give me the agreement number and start date over the phone so i can get the letter straight out!

Brilliant, then the first one you write to loans.co.uk, as they were fined earlier this year for mis selling PPI, wow this is just getting better.......:D

Now things are looking up - when did you take this out now hun - please remind me.

pinknico

marshallka wrote: »

I thought that they had been sold on???

Does that mean that they won't go into default now???

http://forums.moneysavingexpert.com/showthread.html?p=14246159&highlight=picture+finance#post14246159

http://www.realbusiness.co.uk/search_tags/5006651/britains-biggest-startup-to-be-sold-for-1p.thtml

They should go into Default, although they have been sold and are now Picture Home loan ,the insurance was sold by Picture Financial and only they are resposible so they have no money so can't pay claims ,so FSCS offer compensation for valid claims ,but until the FSCS are sure there is no money they cant declare them in Default. There is light at the end of the tunnel as the FSCS web site does list Picture Financial in their do you have a claim against section contact us, so they must be quite confident they will Default.

But that is only as I see it! Tiggrae can probably put it better.

marshallka

TheClarks wrote: »

Loans.co.uk brokered the first FirstPlus loan, then direct for 2nd.

I'm hoping they will give me the agreement number and start date over the phone so i can get the letter straight out!

Oh no, then you went through a broker for the first loan ....:eek: :eek: :eek:

This means that the first one needs a letter to the broker and not firstplus.

di3004

TheClarks

Please read this.:D

http://www.fsa.gov.uk/pages/Library/Communication/PR/2006/105.shtml

Right then, the first letter to the broker, you should have no problem with these, when it comes to the rebate though the loan you have now with FP should provide this breakdown as they arranged for this to consolidate to the 2nd loan, so request the breakdown for this from them of that one, and as soon as you got this complaint off for this current one your dealing with right now, crack on with the first one.

TheClarks

marshallka wrote: »

Oh no, then you went through a broker for the first loan ....:eek: :eek: :eek:

We went through Loans.co.uk the first time who brokered on behalf of FirstPlus, then when we went for the further advance we went direct to FirstPlus.

marshallka

pinknico wrote: »

They should go into Default, although they have been sold and are now Picture Home loan ,the insurance was sold by Picture Financial and only they are resposible so they have no money so can't pay claims ,so FSCS offer compensation for valid claims ,but until the FSCS are sure there is no money they cant declare them in Default. There is light at the end of the tunnel as the FSCS web site does list Picture Financial in their do you have a claim against section contact us, so they must be quite confident they will Default.

But that is only as I see it! Tiggrae can probably put it better.

usually though if a company is actually sold on then so are the assets and liabilities too.

TheClarks

di3004 wrote: »

Brilliant, then the first one you write to loans.co.uk, as they were fined earlier this year for mis selling PPI, wow this is just getting better.......:D

Now things are looking up - when did you take this out now hun - please remind me.

I can't remember if it was 2004 or 2005.