welcome finance

willow70_2

hi just a bit of advice my partner as tried to reclaim ppi from welcome but they have sent a reject letter saying its before the timescale just before they have to look at the complaint. is it worth following this up with fos or not any advice would be great.

Thanks
willow

di3004

willow70 wrote: »

hi just a bit of advice my partner as tried to reclaim ppi from welcome but they have sent a reject letter saying its before the timescale just before they have to look at the complaint. is it worth following this up with fos or not any advice would be great.

Thanks
willow

Hi Willow

What exactly did they say by before the timescale?

How long ago did you take out your loan (year)?

Was it actually arranged and set up by Welcome as well?

KIMY

Hi Willow, if your loan l believe was before Feb 2003 then l believe you dont stand much of a chance with Welcome. But as they where regulated by GISC in Feb 2003 you may have a case if mis-sold after this date.
I first tried and they rejected mine saying it was over the 6 years and l accepted, but when l found out on this (brilliant site) that as l was clearly missold in branch and had all original paperwork and was after Feb 2003 l am claiming again, have had a questionnaire and on Saturday received a letter dated 6th September advising they where investigiating and give them 8 weeks and l will do that but if no luck l am straight off to FOS, eight weeks from that date.

willow70_2

the loans were taken out in 2000 to 2003 but ppi was sold by welcome finance

di3004

Hiya I assumed they were regulated in 2003, you could contact the FOS and ask on your best direction on where to take this, sometimes they suggest another avenue, such as the underwriter who were mostly governed/regulated.
Give the FOS a ring and see what they say, please let us know what they say, thanks and good luck.

http://www.financial-ombudsman.org.uk/contact/index.html

KIMY

Hiya, Welcome unfortunately were not regulated until Feb2003 and l know it is shame but l dont think they will budge. But if l was you l would contact FOS and they may be able to help you.
Good luck and l will keep you updated.

billypre

willow70 wrote: »

hi just a bit of advice my partner as tried to reclaim ppi from welcome but they have sent a reject letter saying its before the timescale just before they have to look at the complaint. is it worth following this up with fos or not any advice would be great.

Thanks
willow

Willow, hi !

I am in the exact same position as you. My loan was in January 2003 and they became "registered" in February 2003. Gutted !!

This just goes to show the total ineptness and disregard for welcome to their customers.

I sent the ppi claim 12 weeks ago. After 4 weeks i got a letter saying roughly :

"we are still investigating your claim but we need more time"

Then after 8 weeks :

"sorry its taking so long but i am still investigating your claim and looking at the details of your case and need more time"

Then after 12 weeks :

" Sorry, as per the law and not regulated at that time we do not and will not investigate your claim"

What a disgrace. Why keep me waiting 12 weeks when they knew right off the bat that they were never going to investigate. In all previous correspondence they actually stated they WERE investigating. Bunch of utter *********


Anyway Willow, to get back to your question. I called the FOS yesterday and they told me that you can still go after the underwriters. Problem is i would need to know who they were. Not surprisingly Welcome didnt disclose who the underwriters were. So i tried calling them and got put on hold with the :

Your call is in a queue and will be answered in approximately 62 minutes !!!!!

Bunch of *********

So, i will be writing them a letter and asking if they would be so kind as to give me the name of the underwriters. Does anyone know who would have underwritten Welcome Finance back in January 2003 ??

I dont have the original loan agreement but would it be on their ?

Willow, if you find out let me know as i dont think Welcome will play ball at all. Do you have your original loan or any paperwork telling you who the underwriters were ?

di3004

Hiya with mine (another loan company) I wrote to the lender to request for the policy insurance document details, they sent them back to me by about 14 days, and its a booklet that was not included with the loan documents and you request for separately.

The details of the underwriters/insurer are shown on the policy booklet details.

Good luck.;)

billypre

Thanks Di, i'll try that. Welcome seem to be very un-welcoming though when it comes to doing the right thing.

di3004

billypre wrote: »

Thanks Di, i'll try that. Welcome seem to be very un-welcoming though when it comes to doing the right thing.

Your welcome.;)

LOL and I've heard that before now.:D;)

KIMY

Success at last, had a letter from Welcome when l got home from work last night advising refunding all PPI paid on 2 loans total £2845.61, really pleased as declined in April and decided to go for again,after reading posts on this great site. Many thanks to all help from all on site.
Send off acceptance today by special delivery and hopefully receive soon, just in time for Christmas.

:j:j:j:j
:T