I have had the same letter and many conversations this week. I had a picture loan and in 2009 filed for bankruptcy. Picture actively encouraged me to buy back the beneficial interest in my property. They said there will only be the captial to repay. All interest will be surpressed and there will be no interest on the loan ever again. So, I did.....Paid off around £12,000 off the captial since then as agreed. Never heard of any interest until Idem rang ring Now, they say and I quote from a member of their called Ghafram. It seems Picture have been telling people all sorts of things over the phone regarding interest payments and all along they where intending to add it on at the end of the capital repayments. There are that many people who have complained they are having to have a review for all the Picture business next week. But and this is the but you might fall off the floor with. No interest has been applied to the loan since 2008/9 so we have added all the interest back on which is £33,000! and we are charging 10.5% APR and that is now adding £974 a month in interest payments!!! He suggested I right a letter of complaint and the complaints department will look in to it. My agreement with Picture will be honoured for a short period of time. So, I calculated the amount and it would still mean £600 be added each month. I pointed out that would increase the loan with never an hope of paying it off. The 10.5% is variable by the way. I've written the letter they will get it tomorrow. But I really think this is a massive issue with all picture loans. I think a joint complaint to the FSA by as many of the people we can locate with loans or a massive joint litigation case against picture/Idem may force them to honour people's original offers. Idem is owned by paragon finance and their history is very coulourful. I have no other debts only this one and if forced to I have no problem handing the keys back and tell them to sort it. I've also refuse any further payments until its resolved becasue I do not accept their terms in anyway!! Be careful if you pay them anything because if you do they will never start to the reposession process and you'll be stuck in a life time of increasing debt. if you don't pay and they try to get a court order at that hearing you can have your say and a defence with the judge. Only trouble with this we would all be treated as individuals. As a mass group they would be on a very sticky wicket. I quite happy to join up with as many people as possible and split the cost of solicitors and to file a joint complate with FSA. I'm going to see a solicitor next week to find where I stand in a 30 minute free consultation. Anyone who wants to join forces please ring me 07718 287664