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About thetibster

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  1. well, it seems the loan will not be paid off any quicker due to the ppi being added to the loan at the start and gathering interest over its course,they said if i cancel it there will be no rebate and payments stay the same, as i will be paying the ppi off over time, no extra money comes off the loan as its still comes off the ppi and its interest,therefore no reduced payments! and the ppi only protects for five years!!! The fscs are progressing with my composation claim.....if they are successful does anyone know if my ppi will automatically be cancelled and my payments reduced??????? sh
  2. I have a 28k loan with picture and 6k ppi, over recent months i have heard that picture have folded and was informed to contact the FSCS. I now have a claim for the PPI in motion! However, i decided to ring PICTURE ( target ) to cancel the PPI to try and reduce the monthly loan payment, i have recieved a letter from them saying i can cancel the ppi but my repayments will stay the same. The loan is 5 yrs old, Has this happened to anyone else? and are they allowed to do this? why aren't my payments reduced?.........etc!
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