First Thread and in need of advice!

v2k10

Hi there

I'm new to here but have heard a lot of good things about this forum and i'm hoping someone can help me with some advice.
I had two loans with Welcome finance- one was for a personal loan and the other was hire purchase for a car. Both loans have been paid off but I felt that I was mis-sold ppi on both as I wasn't told the details of it, I wasn't even asked my for car loan- they just added it on and also I was told for my personal loan that I wouldn't be accepted for it if I didnt take ppi.
I wrote a letter to welcome for both loans and received the questionnaires back. Completed them and I have now received an offer for the loan but have been advised that the car loan cannot be reclaimed for PPI as it was through another company (the insurance) called Auto Credit Finance or Auto Finance credit. I spoke to welcome about this and they gave me the number to call.
I have just rang them and another named company answered and advised that auto finance credit are in insolvency and that I wouldnt get anything back.

Please can someone advise on where I can go from here? I still feel that Welcome should be responsible as they have added this ppi to my car loan without consent or knowledge of this?

Also, I paid my car loan off a few months early at the amount of £577. I have struggled to get credit since and therefore ordered my credit report and welcome have stuck a default on there for guess how much........£577?! I rang Welcome about this too and they advised and confirmed that I paid this? Is there anything I can do about this too?

Any help and advice would be greatly appreciated!

Many Thanks!:beer:

di3004

v2k10 wrote: »

Hi there

I'm new to here but have heard a lot of good things about this forum and i'm hoping someone can help me with some advice.
I had two loans with Welcome finance- one was for a personal loan and the other was hire purchase for a car. Both loans have been paid off but I felt that I was mis-sold ppi on both as I wasn't told the details of it, I wasn't even asked my for car loan- they just added it on and also I was told for my personal loan that I wouldn't be accepted for it if I didnt take ppi.
I wrote a letter to welcome for both loans and received the questionnaires back. Completed them and I have now received an offer for the loan but have been advised that the car loan cannot be reclaimed for PPI as it was through another company (the insurance) called Auto Credit Finance or Auto Finance credit. I spoke to welcome about this and they gave me the number to call.
I have just rang them and another named company answered and advised that auto finance credit are in insolvency and that I wouldnt get anything back.

Please can someone advise on where I can go from here? I still feel that Welcome should be responsible as they have added this ppi to my car loan without consent or knowledge of this?

Also, I paid my car loan off a few months early at the amount of £577. I have struggled to get credit since and therefore ordered my credit report and welcome have stuck a default on there for guess how much........£577?! I rang Welcome about this too and they advised and confirmed that I paid this? Is there anything I can do about this too?

Any help and advice would be greatly appreciated!

Many Thanks!:beer:

Hi and welcome

Good news on the one then, but are you happy with that outcome of that one?
You should get the chance to request for more if your not satisfied unless of course it was their final decision, where you can then complain to the Financial ombudsman service (FOS) otherwise, but please be aware although the FOS are trying to get complaints resolved for as quickly as possible, it may still take some time.

However on the other, please could you let me know the date/year you taken this out, if they are no longer active and if they were governed by the FSA you should then be able to make a claim through the Financial compensation scheme, also known as the FSCS, more on link below, so if listed with these you have a reclaim to make.;)
http://www.fscs.org.uk/

Otherwise you can of course contact the financial ombudsman service (FOS) and they will more than likely suggest another direction of the actual insurer/undewriter of the company, but first of all make sure with the FSCS first, especially if the company stated are no longer active.

Good luck.;)