Loan PPI Refund

di3004

john69 wrote: »

Hi all,

I had a loan with the woderfull Welcome finance (NOT)!!! i have since paid the loan off in full but i am trying to reclaim my ppi, but reading todays paper the company that own welcome is in trouble so its begining to make people redundant. with the company in finacial trouble will this affect my claim be really grateful if anyone has any advice

Hi there

Keep the claim going while you can, they still have a responsibility at this time, if the worse comes to the worse, then it will then be a fact of them reclaiming through the Financial compensation Scheme (FSCS).
So there are other routes to take, so will not be the end, good luck though and please keep us posted.;)

squeak24

I have just spoken to a very kind person at the FSA, he advised that a reasonable time would be 30 days. It is now past 30 days. However this was not definitive and as a guide only.

I will be sending them a letter tomorrow advising that I believe the are delaying the payment, and if I have not received payment with 30 days I will be either taking the matter to the FOS or the Small Claims court.

marshallka

squeak24 wrote: »

I have just spoken to a very kind person at the FSA, he advised that a reasonable time would be 30 days. It is now past 30 days. However this was not definitive and as a guide only.

I will be sending them a letter tomorrow advising that I believe the are delaying the payment, and if I have not received payment with 30 days I will be either taking the matter to the FOS or the Small Claims court.

Good luck with this then.

tiggrae

squeak24 wrote: »

Well a month on, still nothing. I am going to wait until after the 9th as that is my last ever payment for the loan so will get a full refund then instead of having to request another, and say that I will be referring the matter to the ombudsman if I haven't received payment with in eight weeks.

I have been in touch with someone at the ombudsman who is looking at another complaint with the same bank.

As they have said they are going to payup could I take them to a small claims court?

I can't believe the people who work in such large organizations can be so incompetant!

there are so many people making claims that the banks can't cope - so there are back logs - DON'T start a small claim - they've already said they'll pay you back and if you start a claim they can apply to have it struck out and you'll then be liable for their costs - you'll just have to be patient I'm afraid !

tiggrae

sharpdeath wrote: »

You're quite entitled to take them to the small claims court if you believe they are taking an unjustly long time to pay out. You can do it all online at the moneyclaim website. They have 14 days to respond. If they do not, the judgement will be in your favour and you can execute a warrant to send in the bailiffs. Hopefully just the court paperwork dropping on the bosses desk will be enough to get their butts into gear.

NO NO NO NO NO - if they've already said they're going to repay if you start a small claim they can apply to have it struck out and you could end up being liable for their costs which could be more then you're entitled to get back - they can do this because an application to strike out can be made before the claim reaches the small claims court - and you could end up paying more in costs then the mis sold claim

sharpdeath

tiggrae wrote: »

NO NO NO NO NO - if they've already said they're going to repay if you start a small claim they can apply to have it struck out and you could end up being liable for their costs which could be more then you're entitled to get back - they can do this because an application to strike out can be made before the claim reaches the small claims court - and you could end up paying more in costs then the mis sold claim

True what you say but I did state an unjustly long time. Otherwise they could say for the next decade they will pay you back and not bother.

tiggrae

sharpdeath wrote: »

True what you say but I did state an unjustly long time. Otherwise they could say for the next decade they will pay you back and not bother.

If it goes beyond 3 months then maybe, but to start a claim in the County Court after only 4 weeks could be seen as Vexatious and could end up costing more then being paid out

squeak24

I made my last payment last week for the loan in question, now the bank is demanding nearly a thousand pounds more that what I owe. I have been in contact with the adjudicator at the FOS about that issue. But may leave it a little while before I start taking things further.

What I don't understand, in the letter I received from the bank this morning they said I should pay immediately any debt still owed, which is in dispute and has been with the FOS for over a year now. Yet I can't request they repay the money they have said they will pay me immediately. Something wrong here. I am snowed under with work, so why can this be an excuse for them not paying up?

squeak24

Two months on and still nothing, gonna phone the FOS in the next couple of days to see what they say.

squeak24

I phoned the FOS, and they said that if they hadn't paid up then the only way I can refer it back to the FOS is if I complain again to the bank. The bank in question is Barclays. I am in contact with the FOS regarding an ongoing complaint (two years and counting), I have mentioned this to the adjudicator looking into the case. Will see what he says. I am really unsure why they can demand payment there and then, yet I can't demand a payment they have agreed to make.