Welcome Finance - Anyone been successful?

maxdp

BigTidal wrote: »

Hey all, had a couple of letters out from welcome saying that they are still investigating my case, hopefully i'll have some more news in the next couple of weeks.
I see some people have been successful, well done

Fingers crossed for you.

vanderveckan

Hi

Sorry to jump in on this, but it's along the lines of what I would like to ask.

My situation. I have an agreement with WFS for a car taken out in Aug 2007, and I have voluntarily terminated last month. I wrote to WFS in Jan to cancel my PPI as I am a contractor and so it would never cover me, even though they said it would. So I heard back in May with their final response stating that everything they did was legal etc. But they never cancelled the PPI. So I missed 2 payments whilst I was arguing with them and decided to terminate. I received their paperwork and although I was expecting an amount of 2 x missed payments minus what they overcharged me on the PPI when I explicitly told them to cancel it and the amount left to half the term, I was surpirised to see that they have given me a rebate on the PPI but then added the entire remaining amount under 'Separate Agreement Liability'.

My question is: Since I have terminated the agreement, regardless of me fighting them on the PPI, do I have to still pay the full amount of PPI?

Thanks

di3004

vanderveckan wrote: »

Hi
Hello there
Sorry to jump in on this, but it's along the lines of what I would like to ask.
Hey do not worry that is fine lol

My situation. I have an agreement with WFS for a car taken out in Aug 2007, and I have voluntarily terminated last month. I wrote to WFS in Jan to cancel my PPI as I am a contractor and so it would never cover me, even though they said it would. So I heard back in May with their final response stating that everything they did was legal etc. But they never cancelled the PPI. So I missed 2 payments whilst I was arguing with them and decided to terminate. I received their paperwork and although I was expecting an amount of 2 x missed payments minus what they overcharged me on the PPI when I explicitly told them to cancel it and the amount left to half the term, I was surpirised to see that they have given me a rebate on the PPI but then added the entire remaining amount under 'Separate Agreement Liability'.
They are very crafty it seems, and you should be allowed to cancel at any time. I would ask them to post you the full written breakdown of how they worked this out.

My question is: Since I have terminated the agreement, regardless of me fighting them on the PPI, do I have to still pay the full amount of PPI?

Thanks

In my opinion if the PPI is cancelled then realistically you should not have to pay any of this, so I would send a letter to reclaim on this, if they do not resolve this in your favour, move on to the financial ombudsman service (FOS) after the final response.

More details here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

You will find template letters, use them as a guide if you want to and write in your own words, with your own reasons of complaint.
They have 8 weeks to respond in full, basically just keep on at them until they resolve or until they issue you with the final response, they should on the final decision give details of the FOS.

Post all letters by recorded delivery, good luck and ask for help when required.;)

BigTidal

Hi Everyone, Well after 5 months and four letters and threats to involve the FOS i have eventually received a reply from Welcom Finance, i came home to a letter yesterday offering me a final settlement of £1,850.04 !!!!!! Thanks to everyone who gave me any advice :-)

Now my dad wants me to start the whole process all over again for him lol

di3004

BigTidal wrote: »

Hi Everyone, Well after 5 months and four letters and threats to involve the FOS i have eventually received a reply from Welcom Finance, i came home to a letter yesterday offering me a final settlement of £1,850.04 !!!!!! Thanks to everyone who gave me any advice :-)

Now my dad wants me to start the whole process all over again for him lol

Brilliant, Congratulations, and Well done.
:beer::T:beer:

Hippocampus

BigTidal wrote: »

Hi Everyone, Well after 5 months and four letters and threats to involve the FOS i have eventually received a reply from Welcom Finance, i came home to a letter yesterday offering me a final settlement of £1,850.04 !!!!!! Thanks to everyone who gave me any advice :-)

Now my dad wants me to start the whole process all over again for him lol

I would start celebrating until the cheque is in the bank and cleared.

Sorry to pee on your fireworks.

BigTidal

Cheque arrived about a week after i sent the acceptance form back.
Cleared no problem. :j

di3004

BigTidal wrote: »

Cheque arrived about a week after i sent the acceptance form back.
Cleared no problem. :j

Fantastic, well done.
:beer::T:beer:

sparkie45

well i got a new contract today from welcome with all the ppi taken off i have to sign it and send it back my problem is i dont no what i have to come as i have 10 more payments to pay so hope fully in 2 weeks i should have won my 2 year battle to reclaim my first ppi thanks to you all

di3004

sparkie45 wrote: »

well i got a new contract today from welcome with all the ppi taken off i have to sign it and send it back my problem is i dont no what i have to come as i have 10 more payments to pay so hope fully in 2 weeks i should have won my 2 year battle to reclaim my first ppi thanks to you all

Good luck Sparkie, fingers crossed all will work out well for you.;)
And your welcome.