Welcome Finance PPI

dazjam

I currently have a loan with Welcome i have had it for about 11 months,the loan was for £3500 over 60 months paying £128 a month i contacted welcome and stated that as they hadnt informed me re:ongoing medical problems ,i would like my PPI refunded.They sent me a new contract for £2900 over 60 months paying £106 a month ,and sent me a cheque for £249,as i had paid in approximately £1400 over the previous 11 months should i expect to receive all of this £1400 or not.I have not agreed to accept any payment as yet.Any help would be gratefully accepted as i don't know if the offer is about right it doesnt seem so .

di3004

dazjam wrote: »

I currently have a loan with Welcome i have had it for about 11 months,the loan was for £3500 over 60 months paying £128 a month i contacted welcome and stated that as they hadnt informed me re:ongoing medical problems ,i would like my PPI refunded.They sent me a new contract for £2900 over 60 months paying £106 a month ,and sent me a cheque for £249,as i had paid in approximately £1400 over the previous 11 months should i expect to receive all of this £1400 or not.I have not agreed to accept any payment as yet.Any help would be gratefully accepted as i don't know if the offer is about right it doesnt seem so .

Hi dazjam, first of all well done.....:beer:

I would ask them to also send you a full detailed written breakdown, they should send you this on request, how long have they given you to accept the offer or not?

marshallka

dazjam wrote: »

I currently have a loan with Welcome i have had it for about 11 months,the loan was for £3500 over 60 months paying £128 a month i contacted welcome and stated that as they hadnt informed me re:ongoing medical problems ,i would like my PPI refunded.They sent me a new contract for £2900 over 60 months paying £106 a month ,and sent me a cheque for £249,as i had paid in approximately £1400 over the previous 11 months should i expect to receive all of this £1400 or not.I have not agreed to accept any payment as yet.Any help would be gratefully accepted as i don't know if the offer is about right it doesnt seem so .

The £249 would be what you had paid in actual PPI perhaps and the rest of the PPI used to reduce the balance owing and a new agreement drawn up to refelct. The £1400 that you had paid in would be loan repayments and PPI repayments also I would think.

dazjam

I havent been given a timescale on how long the offer is , they have just sent me a cheque no correspondance ,nothing at all, just a cheque in an envelope no letter to explain anything.Is this a decent offer then, should i accept