PPI miss sold company gone out of business

davek1

Hi Guys I need some help if posible.

I had a car loan with Welcome Finance and a secured loan with Paragon Finance. I had PPI on both of these loans.

With both of these i went through an intermidiary. I have started the re-claim process through both Welcome & Paragon. Both have come back and said that as i brought the PPI via an intermidiary despite them being front loaded on both and in Welcome's case all the paperwork being signed on their premises and i raised the PPI issue with them at that time, they are in no way responsible for the miselling of the PPI.

They have advised me to go direct to the intermidieries. However in both instances the intermidieries have gone out of business.

Where do i go from here, if anywhere? Is there another route i should follow or do the lenders have any sort of liability.

Any help would be apreciated.

Dave

marshallka

Hi, when were your loans sold to you?

davek1

Hi

both loans are current and being paid etc. The welcome loan was taken out in about 2004

Paragon in about 2005

Thanks

Dave

davek1

Bump

anyone help??

tiggrae

davek1 wrote: »

Hi Guys I need some help if posible.

I had a car loan with Welcome Finance and a secured loan with Paragon Finance. I had PPI on both of these loans.

With both of these i went through an intermidiary. I have started the re-claim process through both Welcome & Paragon. Both have come back and said that as i brought the PPI via an intermidiary despite them being front loaded on both and in Welcome's case all the paperwork being signed on their premises and i raised the PPI issue with them at that time, they are in no way responsible for the miselling of the PPI.

They have advised me to go direct to the intermidieries. However in both instances the intermidieries have gone out of business.

Where do i go from here, if anywhere? Is there another route i should follow or do the lenders have any sort of liability.

Any help would be apreciated.

Dave

you should have no problem with the 2nd loan as it was taken out after 2005 - you can take your claim to the FSCS - financial services compensation scheme.

On the 1st you need to get hold of the policy document as take your claim to the financial ombudsman service against the PPI underwriters - that's why you need to get hold of the ppi policy to find the underwriters name