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nixx101
Posts: 17 Forumite
Apologies if this has been done before, have tried a search but couldn't wade through the hundreds of pages!
My husband had a 8k loan with Welcome taken out in 2003, 8 years later the loan still stands at 8k, granted it has gone to a DMP in the past 3 years (although interest is supposedly frozen)
He's been missold the PPI as he is in the forces and was also told that it had to be taken out to get the loan. Phoned Welcome today who confirmed that PPI is still being taken out, said they couldn't deal with the complaint as its pre 2005 and they'd get someone to phone him once their system comes back on-line.
I've just sent a template letter asking for the PPI to be repaid in full + interest on the off chance that they have to do something, if this doesn't work where do we go from here? Welcome couldn't tell us who the insurers were.
My husband had a 8k loan with Welcome taken out in 2003, 8 years later the loan still stands at 8k, granted it has gone to a DMP in the past 3 years (although interest is supposedly frozen)
He's been missold the PPI as he is in the forces and was also told that it had to be taken out to get the loan. Phoned Welcome today who confirmed that PPI is still being taken out, said they couldn't deal with the complaint as its pre 2005 and they'd get someone to phone him once their system comes back on-line.
I've just sent a template letter asking for the PPI to be repaid in full + interest on the off chance that they have to do something, if this doesn't work where do we go from here? Welcome couldn't tell us who the insurers were.
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Apologies if this has been done before, have tried a search but couldn't wade through the hundreds of pages!
My husband had a 8k loan with Welcome taken out in 2003, 8 years later the loan still stands at 8k, granted it has gone to a DMP in the past 3 years (although interest is supposedly frozen)
He's been missold the PPI as he is in the forces and was also told that it had to be taken out to get the loan. Phoned Welcome today who confirmed that PPI is still being taken out, said they couldn't deal with the complaint as its pre 2005 and they'd get someone to phone him once their system comes back on-line.
I've just sent a template letter asking for the PPI to be repaid in full + interest on the off chance that they have to do something, if this doesn't work where do we go from here? Welcome couldn't tell us who the insurers were.
Hi there
So Welcome Finance were the ones who sold you the account then?
Not a broker?
I understood that Welcome are now in default and are being dealt with by the financial compensation scheme, (FSCS), more details below..
http://www.fscs.org.uk/what-we-cover/questions-and-answers/qas-for-welcome-financial-hn0qripj/
But think they are only dealing with accounts taken out after Jan 2005.
However, it seems they must still be dealing with complaints for now.
What I would do is see what the decision is on this first and if this fails it maybe a case of pursuing the underwriter/insurer instead, because the Financial ombudsman service (FOS) will only investigate complaints if they were regulated by the FSA from Jan 2005.
The FOS will possibly suggest the underwriter, but see what happens in the response first, good luck.The one and only "Dizzy Di"
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i have a loan with Welcome Finance, which also seems to never get any smaller!! and i was mis-sold PPI with it as they just added it onto the loan amount and didn't advise/explain/ask me and i sent a template letter telling them this and they sent me back a letter saying they were investigating the circumstances then the next letter i got had a compensation cheque in it plus a revised monthly repayment amount without the PPI (it went from £220-£178 per month).
I had been gearing myself up for a prolonged fight with these people as they've never been easy to deal with but they agreed to pay my mis-sold PPI straight away.
This was 2 years ago and i wonder if they are just trying to string out the process a bit more now...? or am i just being cynical!!
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Hi,
Might help telling you that Direct Group admin'd Welcome, and Norwich Union underwrote most loans. I dealt with Direct Group who were very helpful. They posted the PPI Policies and followed up with a phone call telling me that I also have healthcare on all loans too!
Search for Direct Group and have a chat with them!0 -
Im waiting on 2 welcome claims, and yes i would agree that it is being strung out as long as possible & is being dealt with FSCS. I went through one of 'those' companies to reclaim my money who did a great job of burying my claim form for FSCS for 8 weeks!!! then found it in another file which has delayed my claim further.... i sit and wait!
I would get in touch with FSCS and claim via them.0 -
nellynelson2 wrote: »Hi,
Might help telling you that Direct Group admin'd Welcome, and Norwich Union underwrote most loans. I dealt with Direct Group who were very helpful. They posted the PPI Policies and followed up with a phone call telling me that I also have healthcare on all loans too!
Search for Direct Group and have a chat with them!
Thanks for that, will get on to it.
Have since rang Welcome and emailed FCFS who emailed back asking for previous address details and DOB and would be in contact within 5 days whether to say "pre 2005 - can't help" we will see.
Rang Welcome to cancel the PPI who told H, that if he were to cancel the PPI now they wouldn't look into complaint, H didn't question it but it seems wrong to me?0
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