Welcome Finance PPI Claim

Gregstac

Hi all
Im new to the site and was hoping you could answer a few questions for me before I start a claim against Welcome Finance for mis-sold PPI.

1/ I have constantly had loans with welcome since 2002 and on all occasions I have been told that I would be best taking the PPI as with my credit history this would help me get the loan. Would this qualify as mis-sold?
2/ In this time I have had a total of 7 loans all with the PPI, all these loans have been settled either by re-mortgage or new loan except the current loan. Can i claim against all 7 loans?
3/ All the loan agreements show the full amount of the PPI added onto the loan amount (i'e loan for £5000 has £2053 added for PPI making the total loan taken £7053). Is this whats called a single premium insurance? and as i settled the loan about 12 months into the term will they have given me some of the £2053 back already?

Sorry for all the questions and believe me i have more but any help would be much appreciated.

Greg

marshallka

Gregstac wrote: »

Hi all
Im new to the site and was hoping you could answer a few questions for me before I start a claim against Welcome Finance for mis-sold PPI.

1/ I have constantly had loans with welcome since 2002 and on all occasions I have been told that I would be best taking the PPI as with my credit history this would help me get the loan. Would this qualify as mis-sold?
2/ In this time I have had a total of 7 loans all with the PPI, all these loans have been settled either by re-mortgage or new loan except the current loan. Can i claim against all 7 loans?
3/ All the loan agreements show the full amount of the PPI added onto the loan amount (i'e loan for £5000 has £2053 added for PPI making the total loan taken £7053). Is this whats called a single premium insurance? and as i settled the loan about 12 months into the term will they have given me some of the £2053 back already?

Sorry for all the questions and believe me i have more but any help would be much appreciated.

Greg

If you feel that you were needlessly sold all the PPI's when you already had credit problems then I would say "yes" go for all 7 of them. Single premiums are not the cheapest options for insurance and when you have debt problems anyway they add to it so not often sold in your best interests. You need to quote each loan account number and dates in your reclaim letter.

If you take a look at the guide here there is a template letter but its always best to do your own from this with your own reasons for misselling. In the guide it tells you various reasons for missales and if any other things are relevent to your complaint then add them.

You then send the letter recorded delivery and give the firm 8 weeks for a full and final response.

Good luck

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