Welcome Finance PPI.....Aaaaarrrrrhhh!!

124678

Comments

  • Hi

    I took out a personal loan with Welcome finance before I took my car finance out with them in 2007, they have just said that they transferred my personal loan to my car loan without my permission and without notifying me and now say i owe £300 extra!!

    Firstly can they do this??
    Secondly why would they do this?
  • I had a car on finance through welcome finance.
    The finance was arranged through a broker who was under investigation by welcome for fraud. Anyway, The value of the car was £4800 and with ALL the insurances and interests the total came to £13800.
    For the first year I paid them £289 per month, after which I decided to gve the car back and after valuation they said that I still have to pay them about £3000 at £70 per moth at which point the car hire finance contract was converted to a personal loan contract.

    I made few payments then my circumstances went real bad and i couldnt pay them. Cutting the long story short, I now ended up in a Attachment of Earnings Order, ordered by the court to pay £10 per months for the outstanding total of £3700.

    Can I claim PPI on this?
    Would they accept a settlement offer?
    Can I challenge this agreement?
    How do I get the contract and the full statements?

    Please advice me.
  • Hi i am at the start of claiming my ppi against the money robbing welcome finance! i rang up for my account number about 8 week ago when i was 1st going to claim but lost it, i rang up one branch today for my account number and the man could not find my details with all the info i was giving him he says my account must have been deleted as it was nearly 6 yrs old. (i couldnt even hear him typing my info in) i then rang a different branch and he found it straight away with my post code, i hope i can get some money back from these. when i have tried going on their website they are no longer giving loans is that cos they have gone/going bust? possibly with all the ppi they have to pay back lol :D
  • julie_2003uk
    julie_2003uk Posts: 2 Newbie
    edited 17 November 2010 at 3:18PM
    KIAMH786 from what the solicitors told me that are sorting my ppi's you can still claim on loans etc that are still on going.Also when i 1st rang welcome finance for my account number i could pay 10pound to get a copy of my account info so just ask them x
  • MichaelD wrote: »
    Hi Graham,

    See my post below.. they are a bunch of crooks who will not speak to you but try to belittle you on the telephone. Get everything in writing to them, I've been told that they are the only company who will only deal with misold PPI by dealing with all stages in writing. I've also been advised that they will write to you stating that there is no case you just have to keep atit. Good luck mate.

    Michael

    hi this is first time on here just to let everyone know welcome finance have just agreed to refund all 250 cases of miss sold ppi that my solicitor is dealing with so don't argue with welcome try threaten them with legal action if they don't sort out seek solicitor
  • hi, am new to this site so apologies if i have put this in the wrong place,
    i am after advice on claiming ppi back from welcome finance ltd, i have a ongonig loan with them which has approx 6 months left to run (loan was taken out over three years), i telephoned them today to cancel the ppi for the remaining 6 mths, and ammend my monthly payment (currently £305), they told me that they couldnt cancel straight away and they would contact there head office and send a form out to me
    and that they couldnt just take the payment off because it would show up has arrears on my account and effect my further credit rating,
    therefore i needed a new account sending to me??
    My query is if ppi is not compulsory why cant they just take the payment off and cancel the policy why does it take so long,
    i am also in the process off claiming my ppi back from this loan and a previous one (which i paid back after 4 months but they still charged £1500 ppi), any help with this matter will be gratefully recieved, thank you
  • amersall
    amersall Posts: 17,004
    First Post Combo Breaker First Anniversary
    Forumite
    ratbag123 wrote: »
    hi, am new to this site so apologies if i have put this in the wrong place,
    i am after advice on claiming ppi back from welcome finance ltd, i have a ongonig loan with them which has approx 6 months left to run (loan was taken out over three years), i telephoned them today to cancel the ppi for the remaining 6 mths, and ammend my monthly payment (currently £305), they told me that they couldnt cancel straight away and they would contact there head office and send a form out to me
    and that they couldnt just take the payment off because it would show up has arrears on my account and effect my further credit rating,
    therefore i needed a new account sending to me??
    My query is if ppi is not compulsory why cant they just take the payment off and cancel the policy why does it take so long,
    i am also in the process off claiming my ppi back from this loan and a previous one (which i paid back after 4 months but they still charged £1500 ppi), any help with this matter will be gratefully recieved, thank you
    Hi there, DO NOT CANCEL THIS PPI you will have a new loan without ppi on that will increase the term and apr.Wait for your mis sell on this loan, as then the loan will be reset and your monthly payment will reduce by the ppi monthly amount as they cannot change the terms and conditions on this.Good luck with this and please do not cancel x.
  • Hi,
    I have gone down the mis sold ppi route, involved FSO & now Welcome have agreed ppi mis sold and want me to sign new agreement as per FSO guidelines. However, they want me to sign new agreement BEFORE they will advise of rebate amount - which they will use towards missed payments! I am shocked the FSO are going along with this. They have said sign & return it & if you don't agree get back to us & we will have another look! I have advised they agent as FSO that I am not happy with the service provided by them. They have been dealing with this for over a year! Welcome kept sending new agreements of varying amounts, and including unrequested insurances. now the latest one does not add up. The amount loaned & charge for credit are not totalled, it looks to me that they have added their fee to loanamount and are charging interest on this. plus they have made the loan term the same i.e 121 months @ x. Doesn't look as though they have reduced it by payments already made. If I sign this it will comit me to a 121 month payment arrangement all over again!! Can someone advise me on a template letter to Welcome re unenforceable - I believe this is possible as this was a Multiple agreement, but ppi was not listed seperately etc
    I am not a debt dodger - I found out the ppi was no use to me when tried to claim on joint loan while off sick for 6 months. they would have got their money if it had covered me!!
  • amersall
    amersall Posts: 17,004
    First Post Combo Breaker First Anniversary
    Forumite
    luluspice wrote: »
    Hi,
    I have gone down the mis sold ppi route, involved FSO & now Welcome have agreed ppi mis sold and want me to sign new agreement as per FSO guidelines. However, they want me to sign new agreement BEFORE they will advise of rebate amount - which they will use towards missed payments! I am shocked the FSO are going along with this. They have said sign & return it & if you don't agree get back to us & we will have another look! I have advised they agent as FSO that I am not happy with the service provided by them. They have been dealing with this for over a year! Welcome kept sending new agreements of varying amounts, and including unrequested insurances. now the latest one does not add up. The amount loaned & charge for credit are not totalled, it looks to me that they have added their fee to loanamount and are charging interest on this. plus they have made the loan term the same i.e 121 months @ x. Doesn't look as though they have reduced it by payments already made. If I sign this it will comit me to a 121 month payment arrangement all over again!! Can someone advise me on a template letter to Welcome re unenforceable - I believe this is possible as this was a Multiple agreement, but ppi was not listed seperately etc
    I am not a debt dodger - I found out the ppi was no use to me when tried to claim on joint loan while off sick for 6 months. they would have got their money if it had covered me!!
    Well done on your win. The new agreement will end when the old should, they have to put the old loan term, as that is what the original was with ppi,they cannot increase this as you have won mis sell. Wait for the figures after you have signed and post them on here and someone will check them for you, if they are wrong then you can tell fos.Doubt you will win unenforceable, also they can take arrears off your loan out of your win and give you the remainder.
  • Hi guys,

    I'm new to this website a friend recommended me to it. Can any of you give me advice on the best way to reclaim my ppi from this company?

    I have tried to contact them but had no luck im at my wits end!!

    Many Thanks,
    J
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards