Can anyone help re: Welcome Finance

uefa08

Had loans with Welcome Finance in 2001 and 2003

1st loan £5000
PPI £1375 single payment premium Total £6375

Monthly payment £244.38 x 36 including ppi

12 months later took out another loan which paid off above loan for the undernoted amount

£7000 - PPI £1982 plus they added life insurance at £302 on top of ppi Total 9284

Monthly payment £259.38 x 60 including ppi

Loan paid off in July 2003

Aviva is the insurance group. However, Welcome are refusing claim due to the 6 year regulation. Has anyone had success with claims before 6 year regulation, or should I submit a claim to Aviva insurers?

Is it worth pursuing a refund, if so, Can anyone say what would the figures would have been without ppi etc. Thanks

amersall

uefa08 wrote: »

Had loans with Welcome Finance in 2001 and 2003

1st loan £5000
PPI £1375 single payment premium Total £6375

Monthly payment £244.38 x 36 including ppi

12 months later took out another loan which paid off above loan for the undernoted amount

£7000 - PPI £1982 plus they added life insurance at £302 on top of ppi Total 9284

Monthly payment £259.38 x 60 including ppi

Loan paid off in July 2003

Aviva is the insurance group. However, Welcome are refusing claim due to the 6 year regulation. Has anyone had success with claims before 6 year regulation, or should I submit a claim to Aviva insurers?

Is it worth pursuing a refund, if so, Can anyone say what would the figures would have been without ppi etc. Thanks

Hi there, not sure on figures but i am sure someone who does know will be along to help you .I would put a claim in for mis sell to the insurers.Then when you get a reply from them post on here and we will tell you the next step xx

di3004

uefa08 wrote: »

Had loans with Welcome Finance in 2001 and 2003

1st loan £5000
PPI £1375 single payment premium Total £6375

Monthly payment £244.38 x 36 including ppi

12 months later took out another loan which paid off above loan for the undernoted amount

£7000 - PPI £1982 plus they added life insurance at £302 on top of ppi Total 9284

Monthly payment £259.38 x 60 including ppi

Loan paid off in July 2003

Aviva is the insurance group. However, Welcome are refusing claim due to the 6 year regulation. Has anyone had success with claims before 6 year regulation, or should I submit a claim to Aviva insurers?

Is it worth pursuing a refund, if so, Can anyone say what would the figures would have been without ppi etc. Thanks

Hi there

The FOS should be able to direct you on this one, maybe on another avenue if its one where they are unable to investigate, but there are other ways the FOS may suggest, give them a ring, good luck.;)
http://www.financial-ombudsman.org.uk/contact/index.html

uefa08

amersall wrote: »

Hi there, not sure on figures but i am sure someone who does know will be along to help you .I would put a claim in for mis sell to the insurers.Then when you get a reply from them post on here and we will tell you the next step xx

Thank you will give it a try

uefa08

amersall wrote: »

Hi there, not sure on figures but i am sure someone who does know will be along to help you .I would put a claim in for mis sell to the insurers.Then when you get a reply from them post on here and we will tell you the next step xx

Thank you I will do that

KIMY

I too have had lot of problems with Welcome l was helping my daughter claim back PPI the loan was taken out in 2003 and settled early in Nov 2004 paid over £3298 PPI and £1909 rebateed on early settlement.
She did not need PPI as received sick pay, health care & life assurance from her employee but being young and naive and got herself in trouble with money believed salesman when he said it was not optional.
To cut a long story short in March l wrote for her to try and claim PPI and they said that FSA state that where complaint relates to an event took place over 6 years ago they are not required to investigate. and they also said they were not regulated in 26/12/03 when loan taken out. I have just noticed on here that it states they where regulated in Feb 2003.
To be honest we dropped the claim for PPI but went to Ombudsman with claim as charges on resettlement where ridculous but he found in there favour as she signed to ridculous rate.
Can she try to re-claim missold PPI as they have not been truthful.
Can someone advise.

amersall

KIMY wrote: »

I too have had lot of problems with Welcome l was helping my daughter claim back PPI the loan was taken out in 2003 and settled early in Nov 2004 paid over £3298 PPI and £1909 rebateed on early settlement.
She did not need PPI as received sick pay, health care & life assurance from her employee but being young and naive and got herself in trouble with money believed salesman when he said it was not optional.
To cut a long story short in March l wrote for her to try and claim PPI and they said that FSA state that where complaint relates to an event took place over 6 years ago they are not required to investigate. and they also said they were not regulated in 26/12/03 when loan taken out. I have just noticed on here that it states they where regulated in Feb 2003.
To be honest we dropped the claim for PPI but went to Ombudsman with claim as charges on resettlement where ridculous but he found in there favour as she signed to ridculous rate.
Can she try to re-claim missold PPI as they have not been truthful.
Can someone advise.

Hi there, sorry to hear you are getting the runaround.The only help i can give you is to write back to welcome and say you are not happy with this reply and that they were regulated when this loan was taken out, and you want them to take another look at this or you will go to ombudsman.
Regarding ppi to be refunded the rebate they give you will be reduced by the rebate given when you win (ever the optimist me )
Good luck with this and keep us posted x

KIMY

Many thanks, keep you posted

di3004

Hi KIMY

Hope your well.

I agree with amersall, keep at them, and if they don't give you a favourable response when asking them to re-look by the final decision, make them aware its off to the FOS with evidence you have to support your complaint.
Good luck. X;)

KIMY

Many thanks sent them a letter yesterday with copies of original agreements, advising will they reconsider as they gave me the incorrect info.
Keep you updated but reading about Welcome l guess FOS here we come.:T

di3004

KIMY wrote: »

Many thanks sent them a letter yesterday with copies of original agreements, advising will they reconsider as they gave me the incorrect info.
Keep you updated but reading about Welcome l guess FOS here we come.:T

Good for you KIMY, Good luck.:T