Picture

marshallka wrote: »

I was not replying to the not repaying the loan I was saying that if they have had a complaint upheld by the FOS ....and the poster has stated here


""""We are no longer paying loan as cant afford it due to ill health retirement and also picture told us that they cannot demand money from us as not sure loan is valid.""""

I would think if they have posted that they are no longer paying (and Picture told them that they cannot demand money!!!) and also the PPI complaint has been upheld then the PPI is most probably cancelled now anyway then it would be better to consult the Citizens Advice in the first instance.

I never recommended that they continue to not pay. That is up to them but I was stating that if they try to make a claim against the PPI now and it is not valid for some reason then they stand to lose the money that they are already due in paying back of the missold PPI.

I was not being petty, just giving my point of view as well..:D

Thats how I read it Marshallka. Nobody would advise anyone to stop paying and put their home at risk we are not stupid and I cant see that advice being given in any of the above posts

Hi all

I have a loan with Picture (or whatever they are now called) that was transferred from a 2nd mortgage to an unsecured loan. I know it's unusual, but we were left with little option but to sell our house last year as we were falling further and further behind with the mortgage.

We persuaded Picture that, if we were repossessed, they would get a lot less so they agreed to transferring the £8100 shortfall into an unsecured loan. I would like to pay this off asap, but they keep insisting that they do not accept overpayments and, if I were to do so, each overpayment would cost me £50 in charges!

At the moment I pay £64.85 per month so that they can keep the loan over the original 25-year period, but at this rate I will end up paying £19,500 back instead of £8100. Is this legal?

I suppose I could put extra savings away in another account and maybe make 1 huge overpayment (which will still cost me £50), but this just does not seem fair if I am willing to settle earlier than 25 years.

Does anyone have any advice? Thanks.

Sorry - just realised I have posted on someone's thread when I thought I had started my own thread.