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About old_wulf

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  1. Thanks for the update - we are not relying on it though - as soon as we realised how bad the policy was and that we couldn't cancel and get our money back we took out alternative insurance which costs a fraction of the Picture insurance and actually covers us! I still think we should still be entitled to the no claims discount as well because the FSCS payout is for the mis-selling of the policy not the cancellation or claim against the policy. The policy has been paid in full and as long as the Picture monthly installments are met (ours are though it is a struggle every month) then we sho
  2. Checked with Deloittes and ours is still waiting for senior approval before sending back to FSCS so I imagine another month. Thanks Pinknico for clarifying that the policy is closed when the claim is approved.
  3. Picture/Target told us that any lump sum payments made to the loan would attract a penalty payment. We can't make payment to the PPI seperately as the loan is a single account and the insurance premium was paid at the account opening and is now secured against our home as part of the loan. It may well turn out that when our claim gets settled and Picture realise that the money is from a PPI claim they may choose not to enforce the early payment charge. I haven't checked with FSCS about the legality of Picture further penalising us for paying off the insurance amount off the loan, I will wait t
  4. Good news - This raises another question though, does this mean then that the policy is still potentially in force? and if so would we still be able to make a claim while the policy is in force and will we still be eligible for the "No Claim Bonus" if we don't make a claim. We have checked and any lump sum payments made to the loan account (IE the lump sum from FSCS) WILL incurr an early payment penalty from Picture. Personally I think that if we are successful we will use the payment not on Picture and get the no claim bonus until the PPI expires.
  5. Thanks for the good news - surely though if the loan is not being reduced by the amount of the PPI, the refund should also include the interest that will still accrue on the PPI for the remaining term of the loan? If they are not paying future interest relating to the PPI would we be able to pay the refund off the balance of the loan without penalty? Our loan agreement has a penalty in place for early payments in the first years of the loan.
  6. Thanks for the update - at this speed we will be getting our 3 year no claims bonus before the award!
  7. Thanks - I think we will give them a couple of months before chasing again - be nice to see what exactly is going on and what will eventually happen.
  8. Hello everyone - 1st post Just out of interest, our claim reference number is lower than 250 and when we rang this week, our account is still with the fscs and hasn't been passed over to Deloitte, although they confirmed that Picture were in default and some accounts had been passed across - does anyone know if they are passing accounts in reference number order. We were told the standard "Up to 6 months"
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