welcome finance

di3004

macky8 wrote: »

Hi Di,
Hi hun.

Many thanks for the advise, I will try and get the payment arranged straight away with a template from the website.
Your welcome and that site is very good indeed, I know many who have used the letters and have helped them in one way or another.

I never wanted to agree to the finance arrangement. It was a joint car loan with my ex partner who got me to the garage (Concept Cars) on the basis of a payment arrangment of less than £150 a month.
It's not fair that they did not give you the option not to take this out, you do have a good case here.

When I arrived on signing the dotted line to my horror I saw that the payment was doubled with insurance payments. A hard sell was then given me and my partner (who apparently already knew of the extra cost). The salesman advised we couldnt take the car if we didnt agreed to the added insurances, so after jsut getting back from traveling being pregnant and desperately needing a new car I signed the agreement assuming I could cancel the insurance within 28 days (my silly thought!).
This was obviously mis sold to you hun, and most of their t&c's are small print!

I didnt try to cancel the insurance in time (within 14 days) so I'm still stuck with it now! but do feel I was pressured and miss sold the insurance.
This is a complaint alone as you did try to cancel within the cooling period, they should have done this for you on request.

I have written to the FOB already and need to write back really to Welcome Finance again. I do have the original agreement and a copy they sent on my request which is the same.
So the agreement I take it proves that insurance was added then?

Welcome finance has advised me I didnt need the insurances to have a loan with them and I have been advised incorrectly.

Regards,

Macky8

So now they are stating when its too late that you didn't need the insurance to have the loan with them?
You do have a good complaint here.

Did you ever contact them on the telephone about this?
Just a thought but I would request they send you a copy of the recorded phone calls, this helped my case with the FOS, although a different finance company, but it helped lots.

If this is the case with you, write to request a copy of all phone calls made, they should provide them to you on request.;)

marshallka

macky8 wrote: »

Hi Di,

Many thanks for the advise, I will try and get the payment arranged straight away with a template from the website.

I never wanted to agree to the finance arrangement. It was a joint car loan with my ex partner who got me to the garage (Concept Cars) on the basis of a payment arrangment of less than £150 a month.

When I arrived on signing the dotted line to my horror I saw that the payment was doubled with insurance payments. A hard sell was then given me and my partner (who apparently already knew of the extra cost). The salesman advised we couldnt take the car if we didnt agreed to the added insurances, so after jsut getting back from traveling being pregnant and desperately needing a new car I signed the agreement assuming I could cancel the insurance within 28 days (my silly thought!).

I didnt try to cancel the insurance in time (within 14 days) so I'm still stuck with it now! but do feel I was pressured and miss sold the insurance.

I have written to the FOB already and need to write back really to Welcome Finance again. I do have the original agreement and a copy they sent on my request which is the same.

Welcome finance has advised me I didnt need the insurances to have a loan with them and I have been advised incorrectly.

Regards,

Macky8

As this was a joint loan (I assume this by what you have posted above) then you both need to make the complaint and if you are requesting any information from them both need to sign any forms. This would need to be done for any information they send that is applicable for both. I assume you have your ex's agreement in this complaint also as FOS would look at it this way also.

Also you state that you didn't cancel within the 14 days (I think Di read it as you did try to cancel????) and not that you tried to cancel and they would not let you so I assume they could say you knew that there was a cancellation period? I am only pointing these things out to you as they may use them against you in any complaint so you need to write exactly how this happened. You only really have one bash at this complaint and need to get it right in the beginning.

DId the insurance cover you both in the loan also?

Also most important here, have you made the complaint against the person that sold the PPI to you being "concept cars". I assume if they arranged the loan then maybe they sold the insurance and not Welcome Finance?

tweenie1

Just to let you know ,my husband recieved a letter yesterday saying that although they dispute what was said they are prepared to refund the PPI plus 8% interest so result. Letter posted back today so just waiting for the cheque now

di3004

tweenie1 wrote: »

Just to let you know ,my husband recieved a letter yesterday saying that although they dispute what was said they are prepared to refund the PPI plus 8% interest so result. Letter posted back today so just waiting for the cheque now

Fantastic :T:T
Well done and Congratulations to your hubby and you of course, this is great news.:beer::beer:

marshallka

tweenie1 wrote: »

Just to let you know ,my husband recieved a letter yesterday saying that although they dispute what was said they are prepared to refund the PPI plus 8% interest so result. Letter posted back today so just waiting for the cheque now

Well done to you:beer:. Hope they don't keep you waiting too long for the cheque.

tweenie1

Would be nice if it arrived before Christmas but cant see it but at least we know we will get it back now

di3004

tweenie1 wrote: »

Would be nice if it arrived before Christmas but cant see it but at least we know we will get it back now

Hi tweenie
If you in any hardship let them know they may consider sending this to you before xmas.;)
:beer::beer:

Antoinette1976Totton

I have just had a conversation with a lady at Welcome Finance as I wish to cancel my PPI insurance policy. She has said that if I do cancel the insurance it will not affect my monthly payment (I currently pay £75 per month for it) and the refund I will get will only be pro rata. She calculates this to be around £500 and will only mean my loan agreement will end earlier.

This policy makes up £1500 which they charge interest on top of.

Does anyone know if I can get round this. I am currently paying a third of my payment to an insurance which I do not want or need.

di3004

Antoinette1976Totton wrote: »

I have just had a conversation with a lady at Welcome Finance as I wish to cancel my PPI insurance policy. She has said that if I do cancel the insurance it will not affect my monthly payment (I currently pay £75 per month for it) and the refund I will get will only be pro rata. She calculates this to be around £500 and will only mean my loan agreement will end earlier.

This policy makes up £1500 which they charge interest on top of.

Does anyone know if I can get round this. I am currently paying a third of my payment to an insurance which I do not want or need.

Hi there,

Have you any idea what you have actually paid in PPI?
There should be interest as well that your should be entitled to.

Ask them to send you a full detailed written breakdown of a free quote if you did cancel, this way you will know what is what with the PPI, and make sure nothing is amiss.

For reclaiming the PPI, you should be entitled to all you have paid plus the interest, hopefully someone else will post up with some help on this one, but make sure before you decide that you receive some advice on this first, because you don't want to be out of pocket, good luck.;)

gordonsuk

tweenie1 wrote: »

Would be nice if it arrived before Christmas but cant see it but at least we know we will get it back now

Seems we are in the same boat here. Welcome received our acceptance back on the 26th Nov. They claim it takes 7 working days to issue a cheque for a PPI claim. I'll be keeping an eye on them.