welcome finance

tweenie1

Following advice on this site and forum, I filled in the template letter as I believe my husband was missold ppi due to being told we had to take it out to get the loan. This morning we received a letter off them which says they need for more details about why we are trying to claim it back. The loan finished in July.

Just wondering if they are trying to squirm their way out of repaying or whether to fill it in and send it back but be prepared to go to the next stage if there is no joy with them.

Any advice would be gratefully received

di3004

tweenie1 wrote: »

Following advice on this site and forum, I filled in the template letter as I believe my husband was missold ppi due to being told we had to take it out to get the loan. This morning we received a letter off them which says they need for more details about why we are trying to claim it back. The loan finished in July.

Just wondering if they are trying to squirm their way out of repaying or whether to fill it in and send it back but be prepared to go to the next stage if there is no joy with them.

Any advice would be gratefully received

Hello there

Sometimes they do require further information in order to complete their investigations, although its also known as well as stalling tactics.

I would write back and tell them you strongly believe you were mis sold due to the reasons you given them on your letter dated XX/XX/XXXX and expect to hear from 8 weeks as from the date of that original letter, if you can think of anything else to tell them, give them the details as well.

You can tell them due to being mis sold you were out of pocket, and its very costly, something like that may help.;)

Of course if they do not agree, wait for the final decision which should enclose details of the Financial ombudsman service (FOS), you can take your complaint to them if your not satisfied with the outcome.

Good luck and please keep us posted.

Di

tweenie1

The letter says

Thank you for you letter received 27 August 2009 concerning you PPI policy.
We are keen to ensue all complaints are handled fairly and efficiently; therefore we will be reviewing our own internal process and procedures.
Unfortunately at this stage we don't feel we can accept your complaint, as we do not have sufficent details from you, you can facilitate this by answering the questions on the attached sheet to the best of your ability. This will enable us to take full account of your exact complaint and your own recollection of the sale.
When we receive your information we will consider it in the light of our own evidence and we will let you know our final decision. If we believe there is any shortfall on our behalf we will consider how to recompense you.
If you don't reply within 1 week of this letter, the 8 weeks allowed to us by the FSA rules to issue a final decision will be extended by the time it takes you to reply (in excess of a week). This is in accordance with (DISP 1.6.5 and 1.6.6)
If however you don't reply within 8 weeks we will be obliged to assume you do not wish to pursue it and we will close the complaint.
You have the right to refer our final decision to the FOS if you are not satisfied with it.
We look forward to receiving your reply so that we can progress your complaint.

Yours sincerely


The further information they are asking for is set out on with the following questions

When did you first become aware that you had a complaint?

Where and/or how did you take out the PPI policy?

In your own words please tell us the exact reasons for your complaint

What do you remember from the time you took out the policy?

What documentation were you given when you took the policy out?Please provide details about your job at the time you took out the policy and also details of any other PPI policies you have had in the past.

Surely as the loan only finished in July they would still have information relating to my husbands account on their computer and the original letter should definitely be enough. Also surely whether or not he had any other PPI policies is completely irrelevant to this claim?

di3004

tweenie1 wrote: »

The letter says

Thank you for you letter received 27 August 2009 concerning you PPI policy.
We are keen to ensue all complaints are handled fairly and efficiently; therefore we will be reviewing our own internal process and procedures.
Unfortunately at this stage we don't feel we can accept your complaint, as we do not have sufficent details from you, you can facilitate this by answering the questions on the attached sheet to the best of your ability. This will enable us to take full account of your exact complaint and your own recollection of the sale.
When we receive your information we will consider it in the light of our own evidence and we will let you know our final decision. If we believe there is any shortfall on our behalf we will consider how to recompense you.
If you don't reply within 1 week of this letter, the 8 weeks allowed to us by the FSA rules to issue a final decision will be extended by the time it takes you to reply (in excess of a week). This is in accordance with (DISP 1.6.5 and 1.6.6)
If however you don't reply within 8 weeks we will be obliged to assume you do not wish to pursue it and we will close the complaint.
You have the right to refer our final decision to the FOS if you are not satisfied with it.
We look forward to receiving your reply so that we can progress your complaint.

Yours sincerely


The further information they are asking for is set out on with the following questions

When did you first become aware that you had a complaint?

Where and/or how did you take out the PPI policy?

In your own words please tell us the exact reasons for your complaint

What do you remember from the time you took out the policy?

What documentation were you given when you took the policy out?Please provide details about your job at the time you took out the policy and also details of any other PPI policies you have had in the past.

Surely as the loan only finished in July they would still have information relating to my husbands account on their computer and the original letter should definitely be enough. Also surely whether or not he had any other PPI policies is completely irrelevant to this claim?

Hi hun

The best option you have here then is to write to them and if they don't resolve, go to the FOS.

I would respond to the best of your knowledge, and yes your right if this was taken out over the last 6 years they should still hold your details, from when they sold you the loan.

In regards of the first question, I would tell them you have only recently learnt of mis selling of the PPI and realised this occurs to you, so you believe this was misold (reasons given already in letter).

The 2nd question, just give them the date when this was sold to you.

Tell them your reasons again and also make them aware they already have these as shown in your letter dated XX/XX/XXXX and please also refer to them.

Just tell them what you can remember about the sale of the PPI, but if they did not discuss the PPI with you or make sure you were eligible, let them know that as well, but just respond to the best of your knowledge.

(If this was sold to you by telephone, ask them to send you a copy of the recordings, this should get them thinkning).
Hope this helps, fingers crossed.;)

tweenie1

I was wondering what to put for the when did you realise bit, didn't like to say had read about it on the Martin Lewis website/forum

Thank you its riled me a bit that they made thousands out of us as we only had a loan for £2000 and with their stupid interest rate and ppi etc on top they made over £4000 profit.

We only took out the loan to get married in august 2006, and to be honest I wish he had applied for a credit card because even if we had only managed to get a high interest one it would have been paid back earlier at less cost to us as finding the loan money every month did cripple us financially.

A little bit back would really help right now

di3004

tweenie1 wrote: »

I was wondering what to put for the when did you realise bit, didn't like to say had read about it on the Martin Lewis website/forum

Thank you its riled me a bit that they made thousands out of us as we only had a loan for £2000 and with their stupid interest rate and ppi etc on top they made over £4000 profit.

We only took out the loan to get married in august 2006, and to be honest I wish he had applied for a credit card because even if we had only managed to get a high interest one it would have been paid back earlier at less cost to us as finding the loan money every month did cripple us financially.

A little bit back would really help right now

Just keep at them hun, and yes your right, these policies are a right rip off, keep fighting them and you will eventually get there, and if they do not resolve in your favour, I'm sure the FOS will, they these policies are frowned upon, and I have a good feeling you will be successful at the end of it.;)

tweenie1

This is the original letter I wrote and sent



I purchased the above policy from you in July 2006 but now believe that I was mis-sold this policy

This is due to the fact that I was not given the correct information when the policy was sold to me, as

• your salesperson stated / implied that taking out the policy was essential for me to get the associated credit
• i am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.

Unless you can satisfactorily justify to me that the policy was fair and reasonable I am requesting a full refund of all premiums, and subsequent interest on these payments, that I have paid to date. As I believe I have been deprived of this money I also expect 8% statutory interest, the amount a court would award, to be added to each payment made.

I look forward to a full and prompt response to this letter and for the matter to be concluded within eight weeks or I shall be contacting the Financial Ombudsman to investigate my complaint.




Have just written the following what do you think


Dear Sir,

Following you letter received 7th September 2009 concerning my reclaim of mis-sold PPI. I refer you back to the letter received from myself dated 25th June 2009 where I stated the reason for believing I was mis-sold PPI as your salesperson stated / implied that taking out the policy was essential for me to get the associated credit
i am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests

As the policy was signed for on 4th July 2006 and agreed on 6th July 2006 less than six years ago, I believe you should still have on record a copy of the documentation I received along with details of the job I was doing at the time of taking out the policy.

I have only recently learnt of mis selling of PPI and realised this applies to me The PPI policy was taken out over the phone along with the loan

I believe that I have a strong case for reclaiming my PPI and therefore I ask that you settle or I will have no alternative but to go to the FOS for their help.in settling this matter.

Yours faithfully

chequeout

Hey there

To add to what the lovely Di is saying I have recently had experienced with Welcome - I've successfully claimed back my PPI from a personal loan with them.

I sent off my first letter, they replied with their form wanting more details, I duely filled it in and returned it, it took some weeks but they have come back and offered to refund all PPI.

I know Welcome have got some stick, and although they are painful to deal with as in no-one ever seems to answer their phones etc, I've found them to be ok with me and polite and helpful when you get through. To be honest, I'd say fill in their form, send it recorded delivery and see what happens - though be prepared for a bit of a wait.... They have been fine with me when I did it....

Good luck, hope it goes well, x

tweenie1

So would it be worth sending my letter or just filling in their form? Also do I need to send a copy of the loan agreement which I still have to speed things up?

chequeout

Hmmmmm. All I can say is based on my experience with them - I filled in their form and they came good in the end. If you send your letter it may speed things up I suppose, as it did take them a while to come back to me - but come back they did and in all honesty it was only a few weeks outside the 8-week limit.

di3004

tweenie1 wrote: »

This is the original letter I wrote and sent



I purchased the above policy from you in July 2006 but now believe that I was mis-sold this policy

This is due to the fact that I was not given the correct information when the policy was sold to me, as

• your salesperson stated / implied that taking out the policy was essential for me to get the associated credit
• i am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.

Unless you can satisfactorily justify to me that the policy was fair and reasonable I am requesting a full refund of all premiums, and subsequent interest on these payments, that I have paid to date. As I believe I have been deprived of this money I also expect 8% statutory interest, the amount a court would award, to be added to each payment made.

I look forward to a full and prompt response to this letter and for the matter to be concluded within eight weeks or I shall be contacting the Financial Ombudsman to investigate my complaint.




Have just written the following what do you think


Dear Sir,

Following you letter received 7th September 2009 concerning my reclaim of mis-sold PPI. I refer you back to the letter received from myself dated 25th June 2009 where I stated the reason for believing I was mis-sold PPI as your salesperson stated / implied that taking out the policy was essential for me to get the associated credit
i am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests

As the policy was signed for on 4th July 2006 and agreed on 6th July 2006 less than six years ago, I believe you should still have on record a copy of the documentation I received along with details of the job I was doing at the time of taking out the policy.

I have only recently learnt of mis selling of PPI and realised this applies to me The PPI policy was taken out over the phone along with the loan

I believe that I have a strong case for reclaiming my PPI and therefore I ask that you settle or I will have no alternative but to go to the FOS for their help.in settling this matter.

Yours faithfully

This is a fab letter hun, well done......:T:T, again post by recorded as proof of delivery.
With the form, maybe complete that to the best of your knowledge, so you have no come backs as such, then of course for some of the anwers tell them to refer to your complaint letter and the details of when this was sold to you.
You can enclose the form to your letter X
We wish you luck and sure at the end of it you will come out a winner.:beer: