Another Welcome Finance problem

pinknico

Good for you and good luck,

lou1251

Received a letter from FOS to say they have my complaint form. They will get back with a full response as soon as they can.

I'm kind of worried now after reading that if Welcome do go bust, then payouts aren't really going to happen. I've been paying for something that I've never actually received, so I better get my money back!

My last two letters to Welcome are still showing on Royal Mail's track and trace as accepted at the post office where I paid for and sent them. I wonder if Welcome have just stopped signing for them. They've probably got a lot of letter signing to do at the mo!!

di3004

lou1251 wrote: »

Received a letter from FOS to say they have my complaint form. They will get back with a full response as soon as they can.

I'm kind of worried now after reading that if Welcome do go bust, then payouts aren't really going to happen. I've been paying for something that I've never actually received, so I better get my money back!

My last two letters to Welcome are still showing on Royal Mail's track and trace as accepted at the post office where I paid for and sent them. I wonder if Welcome have just stopped signing for them. They've probably got a lot of letter signing to do at the mo!!

Hi Lou

In regards of the posting message from Track and Trace, this does often happen, what I do if this is the same the following day, I contact the Royal Mail by ringing them, to ask if it was actually delivered as it does not confirm on their site, they often confirm it have been and the date.;)

I do hope Welome pay out in time, but in the worst scenario, it would then I believe have to be reclaimed from the Financial service scheme, FSCS, lets hope though it won't come to that, good luck.

lou1251

Right, got another reply from the FOS, well three in fact! Three letters all with different ref numbers. My complaint form to them did sort of have three complaints on it anyway.

One letter says that my complaint will be passed onto an adjudicator. This must be the second loan complaint that I did receive a final response from Welcome for.

The other two letters state that as I haven't had a final response from Welcome and the 8 weeks has now passed, they have contacted Welcome and are awaiting their response.

Royal Mail still can't confirm whether my letters to Welcome were delivered, spoke to a very nice woman who couldn't apologise enough and said I should claim my money back since I haven't really had the service I paid for. It's only a couple of quid, so I'm not bothered.

So, I just called Welcome and the guy said yes he did receive my last two letters. He asked why I hadn't returned the questionnaire, I told him I explained in the last letter that I hadn't received it and that all the info they needed was in my first letter anyway. He said the final response was sent out yesterday anyway and I should receive it tomorrow.

Was tempted to ask what was in the final response and about my policy that doesn't exist!!

lou1251

Final response letter from Welcome arrived this morning. It says that they "don't agree with my assertions and as a gesture of goodwill, decided to refund the full PPI and Familycare (Lifecare24?? - change of name??) policies plus associated interest". So they don't agree with what the insurance companies are saying, that no policies don't exist??!! They haven't shown any paperwork that proves that they do exist.

This is what they are offering me:

PPI: £301.30
Premium of 368.31
Interest of £39.58 and 8% statutory interest of £22.32

They say I had a partial rebate of £128.91 on 7th November 2005 when the loan was re-written. I'm not sure if the rebate did actually happen as I have no second loan paperwork. The figures just don't add up when I take the loan amount minus this rebate. Even without the rebate, it doesn't add up.

A breakdown sheet that the salesman gave me with the first loan shows all the premiums and interest. The PPI premium was £368.31 as they say, then interest was £153.64

Life assurance: £209.31
Premium of £175
Interest £18.81 and statutory interest of £15.50

The breakdown sheet shows that the Premium for this was £175, interest is actually £73.00, so I should be getting £248 plus 8% interest. Also what was left to pay has been included in the second loan, so wouldn't it be more?

I'm confused by these figures, so if anyone could help me out? Thanks.

lou1251

Anyone? I'm really not sure what to do next.

They will have sent this letter to the FOS as they did request a Final Response from Welcome. Should I maybe give them a call, see what they say?

marshallka

lou1251 wrote: »

Anyone? I'm really not sure what to do next.

They will have sent this letter to the FOS as they did request a Final Response from Welcome. Should I maybe give them a call, see what they say?

I would query this with FOS as they will have the whole file. Its too difficult for anyone to work out without breakdowns of each settlement to take out the new loans.

lou1251

Thanks, Marshallka. I'll give them a call today.

LilacPixie

Did the FOS answer your query??

lou1251

LilacPixie wrote: »

Did the FOS answer your query??

Welcome haven't sent the FOS the Final Response. So, I've to send them a copy for them to have a look.