Welcome PPI Help !

stokelady

Hi

I fell behind with Welcome Finance payments and am currently paying £30 per month attachment of earnings as instructed by the courts.

I have been paying for some time now and have discovered that my repayments include PPI.

I have sent them the sample letter re- missold PPI and they have sent me their standard questionairre that I have completed and sent back. Couple of weeks later and I have received an apology letter for the time taken and aknowledgment that they are looking into my complaint and that they will send me the outcome within 4 weeks.

What I was wondering is........

1) am I still entitled to claim back any PPI paid even though I am on an attachment of earnings with my repayments due to defaults?

2) If succesful are they likely to knock any refund off my outstanding balance rather than refunding back to me?

3) I hear Welcome finance are in trouble, if the company were to disolve how would I go about cancelling my attachment of earnings?

4) Does the time taken and aknowledgment look promising towards a refund?

Any other info/advice much appreciated.

Thanks

di3004

stokelady wrote: »

Hi

I fell behind with Welcome Finance payments and am currently paying £30 per month attachment of earnings as instructed by the courts.

I have been paying for some time now and have discovered that my repayments include PPI.

I have sent them the sample letter re- missold PPI and they have sent me their standard questionairre that I have completed and sent back. Couple of weeks later and I have received an apology letter for the time taken and aknowledgment that they are looking into my complaint and that they will send me the outcome within 4 weeks.

What I was wondering is........

1) am I still entitled to claim back any PPI paid even though I am on an attachment of earnings with my repayments due to defaults?

2) If succesful are they likely to knock any refund off my outstanding balance rather than refunding back to me?

3) I hear Welcome finance are in trouble, if the company were to disolve how would I go about cancelling my attachment of earnings?

4) Does the time taken and aknowledgment look promising towards a refund?

Any other info/advice much appreciated.

Thanks

Hello there

Yes you are, if the PPI is still included in the balance of the loan, and you were mis sold this product your entitled to make a reclaim on this.

Yes they do tend to use the refund towards arrears and if anything remaining should be refunded directly to you.

I do not know much about them to be honest of what is going on, but I'm sure someone who have had dealings with them will post up, but it should not interfere with your reclaiming.

If this was mis sold to you and they accept liability then they should also award the 8% interest of what a court would award, so this bit of the refund for being deprived of your money should be refunded directly to you.

There is a thread on here on how the FOS calculates PPI refunds, its posted by Maxdp, and if they uphold in your favour, they must calculate the same way as the FOS does, so please check out this here:

http://forums.moneysavingexpert.com/showthread.html?t=1596473

For more on reclaiming here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
They have 8 weeks in full to respond.

Hope this gives you some idea, post up for any help if required, good luck.

stokelady

Many Thanks for your prompt reply !

di3004

stokelady wrote: »

Many Thanks for your prompt reply !

Your very welcome.

Just another thought though, even if this was not mis sold your still paying for something that you would no longer be eligible to make a claim for, so you could still reclaim anyway on these grounds, I'm sure you can.;)