I have decided to switch from my secured Picture Loan to an unsecured loan with another company, which works about £7 more a month. However I am going to cancel my insurance policy covering the secured loan and this will save me about £8.

You would be wasting your time - you are no worse off than if you had never recieved the marketing offer, (which is all it was). By all means complain to picture and ensure that the title is proporly registered to avoid problems in the future.

I received a letter from Picture using their words an "opportunity not to be missed" I have a loan with Picture and they suggested in their letter that I could reduce my payments from £170 to £147 by taking a loan out with Paragon. I discussed this with Paragon and not having heard from them for several weeks I contacted them today. They said that they couldn't give me this wonderful opportunity because my title deeds were in the name of Picture Finance and not Picture Home Loans. I spoke to Target ( Picture Customer Service) who told be that Picture Finance no longer exists. What's happened is that they have failed to change the title deeds with the Land Registry from Picture Finance and now I have missed the opportunity of substantially reducing my repayments. Also Paragon said I should not have been sent the letter and Target said I should have and been able to have this offer. I have decide to complain to the FSA as Picture and Paragon seem to be incompetent. I just wondered if any other person has experienced problems with Picture? and am I right in taking it to the FSA. I have also written to Picture to complain.