Welcome finace PPI wheres the template letter etc?

spursn17

Welcome finace PPI wheres the template letter etc?


hey ive had a loan with welcome finance for past two years. i borrowed 1000 and paid 74.00 a month since july 08. and i still owe around 900!!! i asked for a settlement figure and was told it would around 900 still!!


anyways i was wanting claim back all of that PPI back. anyone had any success with welcome and also anyone has a template letter for this. i ddint ask for the ppi in the first place.

Just spoken to welcome finance and there said my balance is 1055.00 !!! there are two one off payments apprently . 400.09 ppi insurance and 195.00 personal accident cover.

di3004

spursn17 wrote: »

Welcome finace PPI wheres the template letter etc?


hey ive had a loan with welcome finance for past two years. i borrowed 1000 and paid 74.00 a month since july 08. and i still owe around 900!!! i asked for a settlement figure and was told it would around 900 still!!


anyways i was wanting claim back all of that PPI back. anyone had any success with welcome and also anyone has a template letter for this. i ddint ask for the ppi in the first place.

Hi there & Welcome

Was this actually set up and sold to you by Welcome Finance?
Or did you use a broker?

Whoever set this up is who you write to.
However, instead of template letters now, there are new Questionnaires, recently issued by the financial ombudsman service (FOS), you willl find further down the page as Stage One on the link here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Complete and keep copies.

These questionnaires cover all, so a letter is no longer required, unless you want to write your own cover letter to enclose with the questionnaire, they have 8 weeks in full to respond.

When you get the chance also check on the above success thread, you may come across many who have had dealings and success against these.

Good luck, please keep us posted and ask for help when required.:)

spursn17

will do. many thanks

di3004

spursn17 wrote: »

will do. many thanks

Your very welcome .

hur575

Hi all,
I have few questions regarding claiming from welcome finance.
1. Do I only need to send the questionnaire?
2. In my loan agreement I have few insurances titled, personal accident cover, lifecare 24, and optional payment protection insurance ( although t says optional, the person who sold it, explained to me that my loan might no go any further if I didn’t take it, and at the time I needed the money, am I claiming for all of these insurance.
3. In the agreement it says the loan was introduced by yes loan, although yes loan referred me to them, the loan was done through welcome, so I still go claim through welcome?
4. After claiming will welcome finance write something negative in my credit file? I know it might sound silly question but they are un trusty bunch, and I have worked hard to keep my credit file clean.
I have thought of going through a company to make the claim for me, as I am really dreading dealing with them but going through the posts, I realised it is not viable option.

Thank you all in advance

di3004

hur575 wrote: »

Hi all,

Hi
I have few questions regarding claiming from welcome finance.
1. Do I only need to send the questionnaire?
The Questionnaire should be sufficient to send, but if you did want to also do a cover letter in your own words that is also okay (to enclose with the questionnaire), especially if the form have not given you the opportunity to give further information you want to add.
However, you can use this template below as a guide if you want to:
http://image.guardian.co.uk/sys-files/Money/documents/2007/10/26/PPIreclaim.pdf

2. In my loan agreement I have few insurances titled, personal accident cover, lifecare 24, and optional payment protection insurance ( although t says optional, the person who sold it, explained to me that my loan might no go any further if I didn’t take it, and at the time I needed the money, am I claiming for all of these insurance.
They should not have made it a condition of the loan, it should have been optional, and you should have been given the opportunity to say yes or no.

3. In the agreement it says the loan was introduced by yes loan, although yes loan referred me to them, the loan was done through welcome, so I still go claim through welcome?
If this is the case its YES LOANS who you pursue (its always the ones who set up and sold you the finance - you complain to).

4. After claiming will welcome finance write something negative in my credit file? I know it might sound silly question but they are un trusty bunch, and I have worked hard to keep my credit file clean.
I have thought of going through a company to make the claim for me, as I am really dreading dealing with them but going through the posts, I realised it is not viable option.
No, they cannot do this, your only rightfully reclaiming what it rightfully yours. (For being mis sold the policy).

Personally I would not use a claims company, the chances are they will charge you, where this way with all your own efforts and a questionnaire, if successful, you get to keep all your refund, interest etc.
Many have had problems with using claims companies and still waiting 2 years or so down the line.
There are a few threads about this below.

Thank you all in advance

Hope this helps.:)

hur575

Thank you very much for your reply, as I said although Yes loans referred me to them the loan was done by Welcome, I am sure as Yes loan referred me to another company first which require guarantor, I complained and got my money back, then I get letter from welcome, so I had no dealing with yes loan, they are broker for loan which require upfront fee, I just noticed their name in the agreement as the broker that referred me.

di3004

Your very welcome.

I used a broker for a few loans we taken out, for example, the broker was eloan who set the loan up, asked the questions and found the lender and passed our details on to Nemo personal finance, so it was eloan we had to complain to for sorting this out in the beginning and sold the loan, even though the documentation was that of the lenders.

However, we did have a loan advance with Nemo later on, and because that one was set up by Nemo themselves, its them we complained to.


So just to give you an idea.

Fingers crossed for you.:);)