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Picture Loans and the FSCS


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You can put your claim in at any time, the sooner the better. If you receive any payment form the in the meantime it is simply a question of informing the FSCS that you have received that payment and they will adjust your payout.

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we have an individual reference number on our letters and mine (without opening myself up to any outside intervention) is a number less than 150 and website quotes that there are 600 cases under review

 

allan48

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following with interest.

 

Good luck on the picture claims.

 

I wonder how many more loan companies will go down the same route to oblivion :-?

 

aa

I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

------------------------------------------------

Bank charge successes:

Halifax - Full settlement incl interest.

HSBC - Settlement, goodwill no admission of liability about 75% of claim.

RBS - Settlement, goodwill no admission of liability about 70% of claim.

2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did :mad:

PPI Successes

PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.

2 claims settled in full with LV without FOS involvement.

2 claims settled in full with HSBC without FOS involvement

 

PPI Claims ongoing with:

Cap one Now with the FOS

Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.

LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc

 

1 Complaint not upheld by FOS they said it was ICO issue. Complaint upheld by ICO. See this..

Post 290 from

***RBS PPI Claim Long fight but, WON***

 

Please do not PM me for advice as it may be sometime before I can respond.

 

Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.

 

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Good Luck

 

PF

If I have been of help to you please feel free to click my scales to the left Thanks.:)

I have no legal training and the advice I offer is what I have learnt here and offered as a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

 

Finally if you succeed with your claim please consider a donation to consumer action group as those donations keep this site alive.

 

CARTER V Co-Op

BANK CHARGES

REFUNDED £3567

 

POMPEYFAITH V Co-Op PPI

OFFER MADE BUT REFUSED

ONGOING AND STILL ONGOING

NOW WITH THE OMBUDSMAN

 

R.I.P BOB aka ROOSTER-UK you have always been a Gent on these boards and you will be remembered for that.

 

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  • 2 weeks later...

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

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Still helping out PN well done:D

I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

------------------------------------------------

Bank charge successes:

Halifax - Full settlement incl interest.

HSBC - Settlement, goodwill no admission of liability about 75% of claim.

RBS - Settlement, goodwill no admission of liability about 70% of claim.

2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did :mad:

PPI Successes

PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.

2 claims settled in full with LV without FOS involvement.

2 claims settled in full with HSBC without FOS involvement

 

PPI Claims ongoing with:

Cap one Now with the FOS

Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.

LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc

 

1 Complaint not upheld by FOS they said it was ICO issue. Complaint upheld by ICO. See this..

Post 290 from

***RBS PPI Claim Long fight but, WON***

 

Please do not PM me for advice as it may be sometime before I can respond.

 

Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.

 

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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.

Any opinion I give is my own and given without

any liability.

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The agreement is a multi agreement and the calculations for PPI should have been shown separately. As they weren't, you didn't know how expensive the PPI was. You were not told of the medical conditions that were excluded from making a claim. You were not told that Picture were not selling insurance in their own right but were receiving a commission for selling it on behalf of other companies. If you had know that you would have known it was in Picture's interest to sell the insurance, not yours. If you are like my friend, she didn't get her insurance documents until AFTER the loan had been paid out. That's enough to get you your refund -Ha!:D

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hi again , thanks for the help

 

ive sent the completed forms back to the fscs along with the loan agreement showing the above information

 

do i have to work out what i am entitled to or this done on my behalf ??

 

any ideas from the above info to what id be entitled to or is each case different ?

 

thanks

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It will be worked out by Deloitte, the adminstrators who are dealing with the claim and are the administrators for winding up Picture. They are international accountants and your claim will be passed to them by FSCS. You get the first £2000 and 90%of the rest from FSCS. I don't know how it will be paid but my feeling is they will reduce the loan by the insurancee premium and you will get the premiums you have already paid in your hand. The idea is to put you back in the position you were in before the PPI was mis-sold to you.

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  • 2 weeks later...

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.

Any opinion I give is my own and given without

any liability.

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