Welcome "Cowboy" Finance !

lisaw260

Hi

Back in 2004, my husband & I took out a loan from above mentioned which included PPI the repayment period was 36 months. In March 2007, I discovered that we could challenge the loan agreement as there were key pieces of information missing from the loan agreement, we subsequently challenged this and to our amazement the remainder of the loan was written off.

We decided back in March of this year to reclaim the PPI in the grounds that it was missold, I have been told today that whilst they have upheld our complaint and they agree that the PPI was indeed missold, they are now telling me that because we had an amount written off the loan back in 2007, that we effectively will be offered nothing by way of compensation.

So my question is should I now complain to the ombudsman or take it straight to court, as I don't think its fair for them to say we are having nothing, when the original loan agreement wasn't legal in the first place.

Thanks
Lisa

pelirocco

pulling up a chair , popcorn anyone?

di3004

lisaw260 wrote: »

Hi

Back in 2004, my husband & I took out a loan from above mentioned which included PPI the repayment period was 36 months. In March 2007, I discovered that we could challenge the loan agreement as there were key pieces of information missing from the loan agreement, we subsequently challenged this and to our amazement the remainder of the loan was written off.

We decided back in March of this year to reclaim the PPI in the grounds that it was missold, I have been told today that whilst they have upheld our complaint and they agree that the PPI was indeed missold, they are now telling me that because we had an amount written off the loan back in 2007, that we effectively will be offered nothing by way of compensation.

So my question is should I now complain to the ombudsman or take it straight to court, as I don't think its fair for them to say we are having nothing, when the original loan agreement wasn't legal in the first place.

Thanks
Lisa

Hi Lisa

Well done on your success.

You may get more help on this one on the actual loan thread, even though you succeeded in reclaiming the PPI, as the loan was written off, it may be a different kettle of fish if you know what I mean.
http://forums.moneysavingexpert.com/forumdisplay.php?f=12

However, I believe amersall responded to this also on the above reclaiming thread, good luck.;)

Gezabell

:cool:. Hiya. I also have a loan from Welcome from 2004, I have just recieved my PPI of £1100 from them. But can you help me re getting the loan written off? How did you do this? and what information was missing from the agreement? Is there any steps on this website to help me get my loan written off?

Gerri x

di3004

Gezabell wrote: »

:cool:. Hiya. I also have a loan from Welcome from 2004, I have just recieved my PPI of £1100 from them. But can you help me re getting the loan written off? How did you do this? and what information was missing from the agreement? Is there any steps on this website to help me get my loan written off?

Gerri x

Hi Gerri

I don't know how this works, but I posted the loan thread in may above link, check that out and maybe you will get some answers of this issue on that one.

Di

KIMY

I have a loan with FOS which was paid up in full in 2004 and has over 3k PPI on, they are not cooperating at all and l wondered did you go to FOS to get your PPI refunded.
:j

di3004

KIMY wrote: »

I have a loan with FOS which was paid up in full in 2004 and has over 3k PPI on, they are not cooperating at all and l wondered did you go to FOS to get your PPI refunded.
:j

Hi KIMY

Do you mean your case have been with the FOS, and you've not heard anything from them in a while?

If so do you know what stage your at - is it actually with an Adjudicator do you know?

KIMY

Has been with FOS about 2 months, spoke to them 2 weeks ago and they said awaiting for adjuicator. No response as yet.

di3004

KIMY wrote: »

Has been with FOS about 2 months, spoke to them 2 weeks ago and they said awaiting for adjuicator. No response as yet.

Hope you won't be waiting too long now then, fingers crossed.;)

KIMY

Thanks, keep you updated but loiiking at Threads on these cowboys l think might be very long winded.:T

Gezabell

Hi,
No i didnt go to FOS, didnt need to. Its seems strange some people do & others dont need to. I also got my PPI back from Halifax from a loan from 1999/2000, they repaid me all the monies due back with 3wks from start to finish! Welcome did take long tho and they did look at a previous loan that had no PPI on it and gave me a no response. When I wrote back with a nasty letter they called me apologised and paid up!.
Keep going they will pay.
How did you get your loan wrote off ? my loan was from the time of your so I m interested to know if I also have missed info..

Gerri x