next step with welcome ppi claim...

jonnyj99

hi, i have been reading this forum with great interest over the last couple of weeks, i got car finance from welcome in december 2006 and was informed that i had to take the ppi otherwise i wouldnt be able to get the loan, i have since learnt this was not true and would like to reclaim said money. i have sent the initial letter to welcome finance and they replied asking me to fill in the enclosed questionarre, i did this and they have now replied saying as the policy was arranged by a broker it is not their problem, they advise me to take up the complaint with the company that sold the policy.
the info i have read on here suggests that it is still welcome who are at fault not the broker who was selling the product on behalf of welcome, what should be my next course of action, do i still go after welcome or are they correct, thanks in advance, jon


p.s. i have scans of both letters but am unable to attach anything to my posts........ any ideas as to why i cant add images.

di3004

jonnyj99 wrote: »

hi, i have been reading this forum with great interest over the last couple of weeks, i got car finance from welcome in december 2006 and was informed that i had to take the ppi otherwise i wouldnt be able to get the loan, i have since learnt this was not true and would like to reclaim said money. i have sent the initial letter to welcome finance and they replied asking me to fill in the enclosed questionarre, i did this and they have now replied saying as the policy was arranged by a broker it is not their problem, they advise me to take up the complaint with the company that sold the policy.
the info i have read on here suggests that it is still welcome who are at fault not the broker who was selling the product on behalf of welcome, what should be my next course of action, do i still go after welcome or are they correct, thanks in advance, jon


p.s. i have scans of both letters but am unable to attach anything to my posts........ any ideas as to why i cant add images.

Hi and welcome.

Yes that is correct, whoever sold you the finance is the ones you write to.

So the letters you have sent originally send to the broker now instead and give them 8 weeks in full to respond.
And yet they send you out the questionnaire, maybe they realised from that it was the sold by the broker.

If the broker does not uphold in your favour by the final decision, then go to the Financial ombudsman service (FOS).

Good luck with this and please keep us posted.;)

Di

jonnyj99

thanks for the reply, i have just read some interesting info in the policy schedule book under the shortfall insurance it reads as follows:

these are the terms of policy number ****** arranged by welcome financial services (address etc) who acts as your agent and accept responsibility for the advice provided and for the arranging of this insurance.

now the wording is slightly differant for the actual payment protection as it says:
these are the conditions of policy number *********. this insurance has been arranged by welcome finance who act as your agent and whose address is (address etc)

there wording doesnt actually accept responsibility for the ppi but i wonder if it is intended. IE they are saying it is the broker who missold the ppi not them but if they are ACCEPTING responsibility then surely they should deal with it.

di3004

jonnyj99 wrote: »

thanks for the reply, i have just read some interesting info in the policy schedule book under the shortfall insurance it reads as follows:

these are the terms of policy number ****** arranged by welcome financial services (address etc) who acts as your agent and accept responsibility for the advice provided and for the arranging of this insurance.

now the wording is slightly differant for the actual payment protection as it says:
these are the conditions of policy number *********. this insurance has been arranged by welcome finance who act as your agent and whose address is (address etc)

there wording doesnt actually accept responsibility for the ppi but i wonder if it is intended. IE they are saying it is the broker who missold the ppi not them but if they are ACCEPTING responsibility then surely they should deal with it.

Hi there

Thanks for posting this up.

I see your point, and in this case I would then ring the FOS on Monday or whenever you possibly can, explain about this situation and ask if they would be able to look into who is responsible, they should find this out for you, it looks like they are passing the buck doesn't it?

So this way with the FOS involved, if any problems they will continue to investigate this for you.
http://www.financial-ombudsman.org.uk/contact/index.html

Please let us know how you get on, if you contact the FOS, personally I would in your position, good luck.;)