Another Welcome Finance problem

lou1251

Hi folks, I'm a bit confused as where to start. So any advice is much appreciated.

Silly me took out a loan for £1500 in early 2005. I was working full time and payments were taken out every four weeks as this is when I get paid. I then fell pregnant and dropped my hours to part time just before I went on maternity leave. After I'd had the baby, because my maternity pay wasn't much, I contacted my local branch to lower the payments and the guy in charge of my account said no problem, come in and we'll get it sorted.

So in I went, thinking that my payments would get lowered - but no! After looking at my credit report and receiving a statement back in October(for just 1 month!), I realise they had me take out another loan to pay the first one off. I have no agreement for this second one and never have, only a form that I have ticked to say I didn't want any insurances. I keep everything, so would definitely have the agreement.

Now, looking back at my first agreement, I see the pushy sales guy had me take out life assurance and payment protection. I remember he spoke very fast, wouldn't let me get a word in and kept going off leaving me on my own in this tiny office for a good five to ten minutes each time.

On the back of my first agreement, it states that if the loan is settled or cancelled early, then the PPI will be cancelled and they will calculate how much is to be reimbursed. I know this never happened, as even though I don't have the agreement for the second loan, it states on the statement how much the loan was for. So, it's definitely included in the second loan and will have loads of interest added to it also.

So, where do I start? Do I first write to them and get an SAR or request my second loan agreement? Or just go ahead and claim the PPI back?

And also, which address do I use? I've googled and found several.

di3004

lou1251 wrote: »

Hi folks, I'm a bit confused as where to start. So any advice is much appreciated.

Silly me took out a loan for £1500 in early 2005. I was working full time and payments were taken out every four weeks as this is when I get paid. I then fell pregnant and dropped my hours to part time just before I went on maternity leave. After I'd had the baby, because my maternity pay wasn't much, I contacted my local branch to lower the payments and the guy in charge of my account said no problem, come in and we'll get it sorted.

So in I went, thinking that my payments would get lowered - but no! After looking at my credit report and receiving a statement back in October(for just 1 month!), I realise they had me take out another loan to pay the first one off. I have no agreement for this second one and never have, only a form that I have ticked to say I didn't want any insurances. I keep everything, so would definitely have the agreement.

Now, looking back at my first agreement, I see the pushy sales guy had me take out life assurance and payment protection. I remember he spoke very fast, wouldn't let me get a word in and kept going off leaving me on my own in this tiny office for a good five to ten minutes each time.

On the back of my first agreement, it states that if the loan is settled or cancelled early, then the PPI will be cancelled and they will calculate how much is to be reimbursed. I know this never happened, as even though I don't have the agreement for the second loan, it states on the statement how much the loan was for. So, it's definitely included in the second loan and will have loads of interest added to it also.

So, where do I start? Do I first write to them and get an SAR or request my second loan agreement? Or just go ahead and claim the PPI back?

And also, which address do I use? I've googled and found several.

Hi there

In my own opinion here, you have a good case.

An SAR may be a good idea, but you can still continue to complain and reclaim.

SAR thread here with details:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

And useful reclaiming link here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Use your own reasons on the templates you will find on the reclaiming link above, they have 8 weeks to resolve this for you.

If they write back and do not resolve this in your favour then write back if given the opportunity to do so, keep on at them until you receive the final response.
In the final response, they should give details of the FOS (Financial ombudsman service) if your not satisfied.

Post all letters by recorded delivery.

The SAR info may come in handy if you were to pursue this matter further, such as with the FOS.

Good luck, hope they sort this out for you, post up when you require further help.;)

Addresses here that were posted on the address thread, not sure which one for definate, hopefully someone will confirm:

WELCOME FINANCIAL SERVICES LTD MERE WAY,
RUDDINGTON FIELDS BUSINESS PARK,
RUDDINGTON,
NOTTINGHAM,
NG11 6NZ
TEL: 0845 6187804

Welcome Finance
Kingston House
Centre 27 Business Park
Woodhead Road
Birstall
Batley
WF17 9TD

Welcome Financial Services (Worcester Branch)
2, Sansome Walk,
Worcester,
Worcestershire
WR1 1LH
Tel: 01905 723857

Welcome Finance (Kidderminster Branch)
Campion House
Green St, Kidderminster, DY10 1JL
Tel: 01527 592369

.................................................. ..........

lou1251

Thanks di for your quick reply. I'll write to them myself first to complain and to claim the PPI back.

Should I include a copy of the first agreement with the letter? I actually have two copies, so could send one. It's just in case they deny what's written on the back. It is welcome we're talking about lol

And should I request a copy of my second agreement?

di3004

lou1251 wrote: »

Thanks di for your quick reply. I'll write to them myself first to complain and to claim the PPI back.

Should I include a copy of the first agreement with the letter? I actually have two copies, so could send one. It's just in case they deny what's written on the back. It is welcome we're talking about lol

And should I request a copy of my second agreement?

Hi hun

With pleasure.

I would not worry about sending the copies of the agreements, just remember to write the account numbers.;)

They should have their own copies to go by, so not to worry.
Good luck.

Yes you could request for a copy of the second agreement, but some charge a £1 for this by paying by cheque or postal order, sometimes they when they respond they send copies back with their first correspondence, so its entirely up to you hun, you do there what you feel is best.

lou1251

di3004 wrote: »

I would not worry about sending the copies of the agreements, just remember to write the account numbers.;)

There is no customer number or agreement number on the first agreement. The box is blank on both copies. I only have the second agreement number as I have this on my statement. So on the letter, I have changed agreement number to customer number and given my customer number instead. Will this be ok?

di3004

lou1251 wrote: »

There is no customer number or agreement number on the first agreement. The box is blank on both copies. I only have the second agreement number as I have this on my statement. So on the letter, I have changed agreement number to customer number and given my customer number instead. Will this be ok?

Yes that should be fine.
Also if the address was different then and maybe your surname, remember to write them in as well, so they can track your info down more easier, also date of birth.;)

lou1251

Got a reply today:

Final Response

Agreement ref: states the second loan ref.

"Having assessed our internal records and supporting documentation, I can confirm that you did not purchase Payment Protection Insurance at the time of application. I have enclosed the appropriate supporting documentation for your perusal.

Notwithstanding the above, if you have any evidence on which you seek to reply, please forward this to me..... On receipt of this, I shall be happy to consider the matter.

Should you remain dissatisfied with our final response, you can escalate your complaint to the Financial Ombudsman Service within six months of the date stated on our final response. I have enclosed their details for your information.

If you should decide to refer your complaint to the Financial Ombudsman Service(FOS), considering the documentation and evidence available to me, we would request your claim to be dismissed on the grounds that it has no reasonable prospect of success."



There's no mention at all of the first loan agreement. Ref at top states second loan agreement. I already know that PPI wasn't taken out with the second one. I clearly stated that it was taken out with the first loan. As I don't have the first agreement ref, I included the date it was taken out instead. I kept a copy of my letter and I've just looked over it and it can't be any clearer!

Do you think they're just stalling??

I even complained about how this loan was sold to me. I thought I was changing the monthly repayments, not taking out another loan. He's ignored all this and only mentioned the PPI.

He hasn't included any documents at all, as otherwise stated above in his letter. Not even the FOS leaflet.

Going to write another letter and I'll enclose one of the copies I have of the first agreement, which clearly states the PPI taken out and on the back that it should have been reimbursed if the loan was settled early or cancelled. Maybe this will make things a bit clearer!!

di3004

Hi Lou

So sorry to hear this.

I would now go straight to the FOS about this and explain what you have above, they will go right through this and see your point.

It may take some time but as the loan company now state its the final response they may not look into this further.

I still think you have a good case and enclose copies of evidence with the complaint form (FOS) and the copy of the final letter.

You can either ring the FOS to arrange for them to send the form or download and print from the FOS site.
I would also let the loan company know what you are doing and maybe enclose a copy of your complaints form also, because sometimes they can change their minds, do not guarantee this though, but it has been known, if they do decide then to resolve in your favour, just let the FOS know.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Good luck hunni X

lou1251

Thanks for your reply, di. I'll get straight on and download that form from FOS.

It must just be Welcome. My sister's just successfully claimed back PPI for her mother-in-law and for our mum. They both had loans with their banks and were settled within a few months, with no problems.

di3004

lou1251 wrote: »

Thanks for your reply, di. I'll get straight on and download that form from FOS.

It must just be Welcome. My sister's just successfully claimed back PPI for her mother-in-law and for our mum. They both had loans with their banks and were settled within a few months, with no problems.

Good on you for staying strong hunni and in your case on the FOS form ask for extra compensation as well for the distress this has caused you, the FOS will consider this in within their decision.;)

And of course if you want to send a copy to the Welcome company as well, it may help.;)
Will keep everything crossed for you XX

PS, just a thought, but you may be eligible to request for "fast tracking" as well if your in financial hardship, let them know if you are and give them the details, they may also consider moving this on quicker for you as well, good luck X

lou1251

di3004 wrote: »

Good on you for staying strong hunni and in your case on the FOS form ask for extra compensation as well for the distress this has caused you, the FOS will consider this in within their decision.;)

Well, when I read the letter, I was absolutely fuming!! :mad: It's like they just ignored everything I put in the letter and read what they wanted to read! Plus the fact that they addressed the letter to Miss Smith Smith, instead of Miss Jane Smith!! (Not my actual name btw, lol Just to show what they did!)

di3004 wrote: »

And of course if you want to send a copy to the Welcome company as well, it may help.;)

Yeah, I will do this. He did say in the letter if I have any evidence, to send it on. But I'll send the complaint to FOS too, just in case. :rolleyes: