PPI Advice on Welcome Finance please

dippynina

I am in the middle of re-claiming PPI from several companies but have been unsuccessful so far.
I have found a loan agreement from Welcome Finance from years ago (its actually not dated!) but have found other correspondence so can date it to around August 2002. It was a large loan taken over 120 months. We re-mortgaged around 2004 and paid this off, although I cannot find any paperwork in regard to early settlement figures.
I have also found a policy schedule for PPI - on checking the small print it was only for 60 months!
I assume the early settlement figure would include a PPI rebate. Could this policy have been mis-sold and because we settled loan early is it too late to do anything about it?

I have also been pursuing other companies in regard to mis-sold PPI and had letters back stating that because we settled these earlier and had been refunded PPI we do not have a case. Can some-one advise where should I go from here? Thanks.

di3004

dippynina wrote: »

I am in the middle of re-claiming PPI from several companies but have been unsuccessful so far.
I have found a loan agreement from Welcome Finance from years ago (its actually not dated!) but have found other correspondence so can date it to around August 2002. It was a large loan taken over 120 months. We re-mortgaged around 2004 and paid this off, although I cannot find any paperwork in regard to early settlement figures.
I have also found a policy schedule for PPI - on checking the small print it was only for 60 months!
I assume the early settlement figure would include a PPI rebate. Could this policy have been mis-sold and because we settled loan early is it too late to do anything about it?

I have also been pursuing other companies in regard to mis-sold PPI and had letters back stating that because we settled these earlier and had been refunded PPI we do not have a case. Can some-one advise where should I go from here? Thanks.

Hi there;)

I would write to them to ask if they would be kind enough to post you out written breakdown of calculations.

Not sure where you would square off with the paperwork but no harm in asking if they are able to send you anything in relation to the finance, for a full SAR there is a charge of £10 postal order or cheque payment, they have 40 days to comply, if they are unable to supply anything they must return your money with an explanation of why they cannot send you the paperwork.
http://forums.moneysavingexpert.com/showthread.html?t=1475553

Where they have stated there would be no refund as you settled early this makes no difference whatsoever, they have fobbed you off here in my opinion.
So I would go for it, at what stage are you with these reclaims?
Have you received a final response on any of them?
If so then take your cases to the Financial ombudsman service (FOS) and ask if they are able to investigate these for you, where a form can then be arranged to be posted or you can download a form on their website.


If you received "no final response" then write back to the loan companies and tell them that you want them to reconsider because you are aware with advice it makes no difference it the account is settled or not, you were still mis sold the PPI that was calculated within your repayments etc.

Give it your best shot, keep at them, if they don't resolve your complaints you can always move on to the FOS.;) Good luck X

dippynina

di3004 wrote: »

Hi there;)

I would write to them to ask if they would be kind enough to post you out written breakdown of calculations.

Not sure where you would square off with the paperwork but no harm in asking if they are able to send you anything in relation to the finance, for a full SAR there is a charge of £10 postal order or cheque payment, they have 40 days to comply, if they are unable to supply anything they must return your money with an explanation of why they cannot send you the paperwork.
http://forums.moneysavingexpert.com/showthread.html?t=1475553

Where they have stated there would be no refund as you settled early this makes no difference whatsoever, they have fobbed you off here in my opinion.
So I would go for it, at what stage are you with these reclaims?
Have you received a final response on any of them?
If so then take your cases to the Financial ombudsman service (FOS) and ask if they are able to investigate these for you, where a form can then be arranged to be posted or you can download a form on their website.


If you received "no final response" then write back to the loan companies and tell them that you want them to reconsider because you are aware with advice it makes no difference it the account is settled or not, you were still mis sold the PPI that was calculated within your repayments etc.

Give it your best shot, keep at them, if they don't resolve your complaints you can always move on to the FOS.;) Good luck X

Hi Di3004! My response letters are as follows:

RBS and Lloyds TSB are 'looking into it'
Beneficial states no case as settled early.
GE Money basically stated no case due to pre-Jan 2005
Black Horse - 2 loans ( at point of sale for first loan stated we needed PPI to get credit) and to cut a long story short, said we were given enough info to make an informed decision, also said first loan was pre 2005.

I am in the middle of writing 2nd letters , although seem to be constantly editing them as unsure what to write!!

di3004

dippynina wrote: »

Hi Di3004! My response letters are as follows:

RBS and Lloyds TSB are 'looking into it'
Beneficial states no case as settled early.
GE Money basically stated no case due to pre-Jan 2005
Black Horse - 2 loans ( at point of sale for first loan stated we needed PPI to get credit) and to cut a long story short, said we were given enough info to make an informed decision, also said first loan was pre 2005.

I am in the middle of writing 2nd letters , although seem to be constantly editing them as unsure what to write!!

Hi hun

Thanks for posting these.

Good luck with both RBS and Lloyds, again if they fob you off keep on at them until the final response and try the FOS if they do not resolve this by the final response.

With GE money just because it was Pre 2005 they are not dealing or resolving this for you because they think you have nowhere else to go with the, ring the FOS to ask as recently the FOS are stating to send the complaints in anyway and they will see if they can still investigate the complaint for you.

You do have good reasons, so yes your doing the right thing by writing back until you receive the final responses from the companies and there is no harm in asking the FOS on any of them if they don't resolve these cases in your favour.;)