UCC and Welcome Finance PPI

Smallfries

Hi All,

not sure where to go from here. I tried to reclaim my PPI from Welcome Finance but they are saying that UCC were my broker so they are the liable party. But if Welcome gave me the money shouldnt it be them that pay me back??

Fries

robbedofmymoney

Smallfries wrote: »

Hi All,

not sure where to go from here. I tried to reclaim my PPI from Welcome Finance but they are saying that UCC were my broker so they are the liable party. But if Welcome gave me the money shouldnt it be them that pay me back??

Fries

hi, unfortunatley it is the broker who sold the policy so you need to send your calim to them,

some others have had success going after the lender but this cannot happen until you have gone to the company who sold the loan first

good luck and let us know how you get on

cheers

Smallfries

just annoyed that Welcome have kept putting me off and now this! will try that next line of attack!

robbedofmymoney

Smallfries wrote: »

just annoyed that Welcome have kept putting me off and now this! will try that next line of attack!

i know what you mean, they are all like that, so expect more of the same,

please don't be put off though, this is waht they are trying to do.

if you persist with it you will get your money back

Smallfries

well, letters gone off, lets see what happens

morgjem

Hello,

I took a loan with welcome back in 2004 and am trying to calculate what my ppi should be worth.
Basically the loan was taken out 20th March 2004 and paid off on 24th June 2005. The original loan amount was £29000 and our settlement figure in June was £ 36,101.36 we made the following payments on the account:

April 04 £611.86 December £100.00
May £611.86 Jan 05 £300.00
June £611.86 Feb £250.00
July £611.86 March £312.00
August £611.86 April £390.00
September £611.86 May £390.00
October £612.00 June £390.00
November £611.86

Totalling £7027.02

The interest rate for March 2004 - March 2005 was 15.79%
and from April 2005 - June 2005 11.75% (this was when we fell into difficulty and they 'rejigged' the monthly payment)

I have worked this out on ppi calc and from what I understand our interest was £5148.57 for the time we had loan - so my question is.... do I add the total payments to the settlement figure we paid - being £41249.93 and then take away what we should have paid as as settlement fig ie £34,148.57 (as per calculator)
leaving = £7101.36 overpayment????

This works out about right as they said we had 2 different types of PPI - one single care package for first 5 years and second for remaining ten years totalling £7384.61........however they told me I got a rebate for the PPI of £3245.49.......I do not think so somehow!!!! We were charged the full amount and then some!!

Anyway I just wanted to know if I have calculated this correctly I know will just be round about figure, but I want something solid to throw at them!!!

Thankyou

robbedofmymoney

morgjem wrote: »

Hello,

I took a loan with welcome back in 2004 and am trying to calculate what my ppi should be worth.
Basically the loan was taken out 20th March 2004 and paid off on 24th June 2005. The original loan amount was £29000 and our settlement figure in June was £ 36,101.36 we made the following payments on the account:

April 04 £611.86 December £100.00
May £611.86 Jan 05 £300.00
June £611.86 Feb £250.00
July £611.86 March £312.00
August £611.86 April £390.00
September £611.86 May £390.00
October £612.00 June £390.00
November £611.86

Totalling £7027.02

The interest rate for March 2004 - March 2005 was 15.79%
and from April 2005 - June 2005 11.75% (this was when we fell into difficulty and they 'rejigged' the monthly payment)

I have worked this out on ppi calc and from what I understand our interest was £5148.57 for the time we had loan - so my question is.... do I add the total payments to the settlement figure we paid - being £41249.93 and then take away what we should have paid as as settlement fig ie £34,148.57 (as per calculator)
leaving = £7101.36 overpayment????

This works out about right as they said we had 2 different types of PPI - one single care package for first 5 years and second for remaining ten years totalling £7384.61........however they told me I got a rebate for the PPI of £3245.49.......I do not think so somehow!!!! We were charged the full amount and then some!!

Anyway I just wanted to know if I have calculated this correctly I know will just be round about figure, but I want something solid to throw at them!!!

Thankyou

hi, before i can work anything out i need ot knwo what your original premium for the ppi was

once i have this i can work some figures for you

cheers

halphy

Smallfries wrote: »

Hi All,

not sure where to go from here. I tried to reclaim my PPI from Welcome Finance but they are saying that UCC were my broker so they are the liable party. But if Welcome gave me the money shouldnt it be them that pay me back??

Fries

I went through my broker Central Capital who fobbed me off because they werent regulated, im now dealing with my loan provider Endeavour, dont know what will happen but im having a try

Good Luck

morgjem

Hello robbedofmymoney,

The original premium was £5738.40 (single care package covering first 5 yrs)
and £1646.21 (covering last 10 yrs of loan). Totalling £7384.61.
Well these are the figures welcome gave me anyway.

All help much appreciated.

Morgjem

Andy_Boro_2

do you have copy of the original credit agreement

morgjem

Hello

No, unfortunately I have not got a copy - I am in process of sending off first letter to request this.
THey have however given me all the information over the telephone.

Thanks:)