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  • FIRST POST
    Jaylith
    Welcome Finance PPI Claims
    • #1
    • 27th Nov 11, 7:51 PM
    Welcome Finance PPI Claims 27th Nov 11 at 7:51 PM
    Hi All,

    Wanted to find out some information as I am sure there a similar situations as mine.

    I received a letter from the FSCS about Welcome Finance having being declared defaulted for mis selling PPI Insurance Policies etc. This was apparently in March 2011 that they were ruled to be defaulted.

    Anyway I had taken a loan of 1500 out with them in 2005 and paid it off in full in 2008 after several difficulties with them at the time. So this letter had a claim form attached stating I was entitled to claim as I was a former customer. Looking at the original agreement they added on 562 worth of PPI. So I have completed the claim form back in September 2011 and at a cost of 7 got my ID verified at the post office as my address and signature had changed from several years ago naturally etc.

    I sent the form and accompanying required documentation on 11 October and when I called Welcome Finance several times to get an update from them they stated that it took 30 working days for a decision to be made. Their staff are rude and not really helpful at all. I should here hopefully at the end of next week what the decision/outcome will be but I wanted to ask;

    Does it take the FSCS 30 working days to make the decision?
    Is it worth complaining about the time taken and the bad service?
    Have many people had successes with any of their claims?


    I am aware that decisions are made on a case to case basis but to be honest I am hoping it is favourable as I could do with the compensation.

    I would appreciate any feedback at all.
Page 1
  • dunstonh
    • #2
    • 27th Nov 11, 7:56 PM
    • #2
    • 27th Nov 11, 7:56 PM
    Does it take the FSCS 30 working days to make the decision?
    Only if you are very lucky. You tend to measure in years rather than days.

    Is it worth complaining about the time taken and the bad service?
    wont get you anywhere.

    Have many people had successes with any of their claims?
    often it depends on whether the FSCS are able to look at it or not and what your complaint reason is.
    I am a Financial Adviser. Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
  • Jaylith
    • #3
    • 27th Nov 11, 8:08 PM
    • #3
    • 27th Nov 11, 8:08 PM
    To be clear I am claiming back on the grounds that I was advised I would only be accepted for the loan at the time if I took the Policy and also was I advised that the Policy came with the loan.
  • dunstonh
    • #4
    • 27th Nov 11, 9:00 PM
    • #4
    • 27th Nov 11, 9:00 PM
    To be clear I am claiming back on the grounds that I was advised I would only be accepted for the loan at the time if I took the Policy and also was I advised that the Policy came with the loan.
    Originally posted by Jaylith
    Hardly any complaints are upheld on that basis as you will almost certainly have no evidence to back up that accusation. So, you will have to be relying on a technical failing. Which you probably have in the form of the PPI being single premium and being added to the debt on which interest was charged.
    I am a Financial Adviser. Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
  • jeannie1505
    • #5
    • 27th Nov 11, 10:00 PM
    • #5
    • 27th Nov 11, 10:00 PM
    I wrote to welcome as my loan was in 2004, they wrote back saying reference my loan and policy they can see no ppi on it. Am convinced i had it, was in a bad place at the time and needed the money desperately. How can i prove that i had this? I question the response because they say loan and policy? does anyone think I should question this or leave it alone Many thanks
  • dunstonh
    • #6
    • 27th Nov 11, 11:28 PM
    • #6
    • 27th Nov 11, 11:28 PM
    they wrote back saying reference my loan and policy they can see no ppi on it. Am convinced i had it, was in a bad place at the time and needed the money desperately. How can i prove that i had this?
    look at your agreement and see if it mentions PPI.
    I am a Financial Adviser. Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
  • jeannie1505
    • #7
    • 28th Nov 11, 7:53 PM
    • #7
    • 28th Nov 11, 7:53 PM
    look at your agreement and see if it mentions PPI.
    Originally posted by dunstonh
    Thats the problem I dont have a copy have requested info, so will see what happens next!! Thanx for reply
  • Jaylith
    • #8
    • 9th Dec 11, 1:01 PM
    • #8
    • 9th Dec 11, 1:01 PM
    Hi,

    Just an update on my claim. I called Welcome Finance today and my claim has passed the 8 week stage now which is a joke. They have escalated it apparently to the relevant team/department dealing with my claim as a priority. Again they could not give me any timescales. Shocking!! I have been given conflicting information which I highlighted to them. The idiot on the other line stated they have had a back log due to more claims than anticipated in the last month. Not my problem and they have been messing about being slow, incompetent etc.

    How is it these clowns are allowed to take so long etc? I am complaining in writing about the length of time. I hope to get the payout from these awful snakes.

    Has anyone else been experiencing the same issues and had any success at all?

    Thanks,

    Jay
  • shellysexbomb
    • #9
    • 12th Dec 11, 8:46 PM
    • #9
    • 12th Dec 11, 8:46 PM
    Hi,

    Just an update on my claim. I called Welcome Finance today and my claim has passed the 8 week stage now which is a joke. They have escalated it apparently to the relevant team/department dealing with my claim as a priority. Again they could not give me any timescales. Shocking!! I have been given conflicting information which I highlighted to them. The idiot on the other line stated they have had a back log due to more claims than anticipated in the last month. Not my problem and they have been messing about being slow, incompetent etc.

    How is it these clowns are allowed to take so long etc? I am complaining in writing about the length of time. I hope to get the payout from these awful snakes.

    Has anyone else been experiencing the same issues and had any success at all?

    Thanks,

    Jay
    Originally posted by Jaylith

    We filled in the questionnaire in March and had letter dated 27/04 from FSCS stating it woul be dealt with in 30days. We phone welcome every two weeks and are stil being given the run around. have jsut wrote a letter of complaint. Payment is due on the 20th and I am going to give them the runaround.....
  • serendipitie
    Having been giving the run around by Welcome Finance since I took out the loan, I am one of those unfortunates who for over 2 years attempted to claim for unemployment on my PPI, to be turned down simply because they do not have the funds to meet any more claims. Ironically had they not have given me the runaround and paid out when I first made the claim I would have been covered!

    The FSCS website is full of 'useless' information like why they are 'paying' Welcome Finance to operate the compensation scheme for them. According to the website it can take up to 8 weeks to process a claim but I am sure that one of the letters I have here states that it can take up to 80 days.

    Im not hopeful of any money because now they say they cannot match my signature and they want certified copies of originals they had less than 2 years ago when I attempted to make the claim.

    Its a complete farce because if I do not keep up the payments I lose my car, which I am loath to do as having struggled to pay while waiting for a decision I am now just months off of completing it, yet they are allowed to default on their side of the contract. When will the FSCS realise that Welcome are STILL not able to meet the legal requirements put into place to protect its customers?
  • shellysexbomb
    I would like to know if there is any way I can escalate this, 8 MONTHS so far!!!!
  • dunstonh
    I would like to know if there is any way I can escalate this, 8 MONTHS so far!!!!
    Originally posted by shellysexbomb
    There is nowhere to escalate it to.
    I am a Financial Adviser. Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
  • Jaylith
    Hi All,

    Just an update on my claim with the Welcome Circus!!

    I wrote a complaint about the bad service, long processes times, conflicting information and general mishandling/incompetence of my claim.

    I addressed the complaint to:

    Welcome Services Limited Customer Services Team
    Complaints Team (FSCS)
    PO Box 10950
    Sandringham House
    Harlow
    CM20 9JF

    I called them today for a progress report and the advisor/agent informed me that as of yesterday a decision was made in principal that they are liable for mis selling and I am due to be compensated. The catch was the chap stated that this was not official and the details of my claim has been passed to the vetting/auditing/checking (whatever the joke of a set up is there) team to go over calculations etc of my compensation. He was vague and evasive about the decision definitely being in my favour though. Rather suspect I say.

    Anyway apparently this final process takes another couple of weeks. Hopefully the resolution will be a successful outcome in my favour. Will keep you updated and I definitely recommend complaining to these clowns. That may speed up matters.

    Cheers,

    Jay
  • RMTOM44
    Hi All,

    Just an update on my claim with the Welcome Circus!!

    I wrote a complaint about the bad service, long processes times, conflicting information and general mishandling/incompetence of my claim.

    I addressed the complaint to:

    Welcome Services Limited Customer Services Team
    Complaints Team (FSCS)
    PO Box 10950
    Sandringham House
    Harlow
    CM20 9JF

    I called them today for a progress report and the advisor/agent informed me that as of yesterday a decision was made in principal that they are liable for mis selling and I am due to be compensated. The catch was the chap stated that this was not official and the details of my claim has been passed to the vetting/auditing/checking (whatever the joke of a set up is there) team to go over calculations etc of my compensation. He was vague and evasive about the decision definitely being in my favour though. Rather suspect I say.

    Anyway apparently this final process takes another couple of weeks. Hopefully the resolution will be a successful outcome in my favour. Will keep you updated and I definitely recommend complaining to these clowns. That may speed up matters.

    Cheers,

    Jay
    Originally posted by Jaylith
    Hello Jay

    They seem to me to change their story all the time . My claim was 8 weeks yesterday , and they keep telling me its in final stage 5 and its now with higher management to go over the calculations to check its all correct and to be signed off

    However that calculations are stage 3 ???

    I find the staff very rude and unwilling to tell you very much about MY CLAIM ...

    These are welcome staff through that have been employed by fcsc to help out ...

    so what more do i expect . they have the rule book for being rude ..

    will keep everybody updated tho



    Thanks
  • bandofbrothers
    Welcome Finance were and continue to be a tin pot, two dime company to which I'm not surprised they folded !

    I too was foolish enough to get involved with them and am awaiting a resolution.
  • duchesspink1
    I'm not understanding why the fscs bothered to write to us to send out application forms, then they take months to deal with refunds.

    surely if they are writing to us, then they are initiating the process and they must already know that the PPI at welcome finance was added to everyones policies as standard.

    I had 3 loans over 10 years with welcome and never once was i told that PPI was optional.
  • RMTOM44
    Just a update on my welcome finance ppi claim .

    HAD A LOVELY REFUND IN MY BANK MONDAY

    Thanks everybody
  • cerica72
    Just a update on my welcome finance ppi claim .

    HAD A LOVELY REFUND IN MY BANK MONDAY

    Thanks everybody
    Originally posted by RMTOM44
    aww lovely x made up for you, i know in your previous posts yours was stuck at stage 5, i sent mine off 3 weeks ago I wait with baited breath, how long did yours take??? If i may ask please.
  • cerica72
    Any help would be appreciated

    I spoke to FSCS today and they tell me that I only have PPI on one of my loans that I took out for 750.00, however I have looked on the loan agreement which I consolidated from 750.00 to 1500.00 and it shows lifecare 24 & personal accident plan, I know that I did not ask for any of these insurances, but dont know where to go to find any other advice on it, the FSCS working on behalf of Welcome Finance have said it is not PPI but the interest is a ridiculous amount just on the insurances alone!!!

    Please help!!!
  • eeyorelis
    Hi Guys
    I received a letter from FSCS on 17 November 2011 asking if I wished to reclaim PPI from Welcome. I completed the form claiming a refund on the basis that I was told that addition of PPI would guarantee my loan. I received confirmation of receipt of my claim form on 20 November 2011 and the refund for the two loans eligible for consideration by FSCS was in my bank on 25 November 2011.

    On their advice I downloaded a claim form from the Welcome website for a refund of PPI on two older loans and sent it to Welcome Complaints Dept on 12 December 2011 and again received confirmation of receipt on 20 December 2011.

    I received an offer from Welcome on 20 January 2012 and have today sent my acceptance form to them for BACS payment to my bank account.

    Wondered if anyone had received a refund lately and how long it took from acceptance top payment?
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