PPI Claim from Picture Finance

MK55 wrote: »

Hello all.

I am looking for help with a PPI claim for picture finance. I have just read the sticky thread, that they are in Administration so intend to go to FSCS tomorrow but just wondered if anyone knows what info they needed.

I took a loan of 40K on 10/12/2005. I paid this off in 28/11/2007 the PPI total was £~10k. This is when it first came to light I had PPI as I was expecting to payback less than what I'd borrowed. I made a complaint in 2008 but was declined saying I was given a booklet and should of made a decision (something which I never got, as I don't need PPI) Ombudsman didn't take me on backk then stating they had no jurisdiction . The PPI was also done pre separate signature.

Tomorrow i am going to ring the fscs, The golden question I suppose is;

What info do I need
What do they expect from me
Can my son do the work for me
How long does it roughly take ( if anyone has had any recent experiences.

Thanks for all your help in advance,

MK

Hi there and welcome

When you contact the FSCS, they should arrange to send you a form in the post, it may take a week or 2 before you receive it, because they tend to post out claim forms via various businesses in a pile of batches.
Hopefully you will not be waiting too long for it, it its not arrived in the post within a fortnight, chase it up.

However, you maybe given the opportunity to do this online, it may be different to when I made a reclaim through the FSCS in regards of another business that went down under and in default.

When you complete your form, then enclose copies of whatever you have, (copies), such as the application form and any settlement figures.
Was Picture the broker and the lender or just the broker?

If there was also a lender involved and Picture just arranged the application, the lenders paperwork is sufficient as well.

As soon as they receive your application, they will make sure they have all they require, if not they will contact you.
They normally use deloittes to deal with the cases, and as soon as that's done, Deloittes send the case back to FSCS to arrange a payout.

I would keep in touch with the FSCS at regular intervals, say 2 to 3 times a month once they received your application.

Also, as Picture are already in default, hopefully you won't be waiting too long, good luck.

Check a thread I posted some time ago, of businesses in default through the FSCS, its long but it may help, good luck.;)

https://forums.moneysavingexpert.com/discussion/1897143

MK55 wrote: »

Hi Di,

Thanks so much for that info. I've scanned their website can't see anything yet.

Maybe they will email me. I did read your post and it helped a lot I dug out all the paperwork they were broker and lender. I went directly to them.

I'll post hopefully in the success forum sooner rather than later. Just hope it all goes to plan. :-))

Your very welcome.

And I'm sure all will go ok.

Post up for help if and when required, good luck. Please keep us posted as well, that would be fab, cheers.;)