Picture Loans and the FSCS

[pinknico]

Hi Pinky, word is that Picture may be declared in Default in the next 3 to 5 weeks. None of us who have a claim with the FSCS against Picture are holding our breath though !

[pinknico]

Thanks for the article allan48, here's hoping I'm among the first payments:D

[pinknico]

All payments should come direct to people, at least the ppi already paid and the rest should be taken off the loan. I hope thats what happens, why should Picture receive the money? Arrears may come into it but apart from that....

[pinknico]

Anyone else had their letter from Deloitte to say their claim will be processed shortly?

[pinknico]

August 2008

[pinknico]

Thanks aa

[pinknico]

If you believe you were mis sold go for it. It makes no difference if you receive your payout or not you just have to let the FSCS know if you have had a refund when you fill out their claim form.

[pinknico]

steve76, you need to contact the FSCS so they can send you a claim form to fill in.

[pinknico]

Home - Consumer home page - Latest News - 2009 - August - Picture Financial Services Plc

 

Call them or write, they will send a claim form either way.

[pinknico]

Hello allan 48 are we at the front of the queue date wise:D

[pinknico]

It would appear that not all cases that have been passed over to Deloitte have received a letter yet. My number is under 100.

[pinknico]

Hope you hear something soon Alitree, wonder how many they can deal with at a time.

[pinknico]

hi all

 

today i received forms from FSCS to fill in regarding my claim for ppi mis-selling from picture

 

found my loan agreement with picture and will post a few points in hope you can advise me of things to point out when filling the FSCS forms in

 

 

Amount of advance £50,000

picture ppi £12,475

total amount of credit £62,475

 

monthly interest rate 0.732%

 

 

APR 9.1 variable

 

monthly payments of £546

 

repayment term 300 months

 

You have chosen to purchase our optional 5 year ppi with joint life cover and single accident , illness and redundancy civer for the 1st borrower

 

 

 

just a few points on the agreement , at the time of taking this consolidation loan our heads were in a total mess and i feel nothing was explained to us or the benefits , optional , how any insurance will be paid , never knew only 1 of us had the insurance for accident & redundancy , and why is it only for a 5 year period ?? surely £12,475 is a ridiculous amount for 5 years

 

any advice much appreciated as always

 

Everything you have put down in your post is a reason for mis selling, especially not told it was optional and the 5 year bit, but put it all in.

[pinknico]

Hello all just to let you know that Deloitte has been requesting information from Picture/ Target in relation to our claims. Picture is taking about 1 week to send back information on 50 claims.

A few of us have had the information returned to Deloittes and have claim handlers working on our claims now. Thay then get passed to the FSCS to see if they are eligible for compensation.

[pinknico]

Just to let you know we have heard that one claimants claim has been passed back to the FSCS by Deloitte and they should get a result within two weeks.

[pinknico]

First person has received their cheque from the FSCS!

They are refunding total PPI paid not just paid to date and interest paid to date, even if the loan is still ongoing.

[pinknico]

A cheque for the whole amount.

 

 

I would ring either Picture/FSCS and find this out old wulf, interesting point.

[pinknico]

Ring the FSCS and see if your claim has been passed back to the FSCS by Deloittes, mine has(45) and a few others have and from there we have been told 2 weeks.

[pinknico]

Got mine yesterday:D

No people have been told there isn't. But check when you call.

[pinknico]

Happy Days:) Happy spending!