Lots of help required-PPI

anniekaiya

Hi,

I just thought i would note everything down to you all and see if any one can answer any of my questions!!

So here goes.

I wrote to Welcome finance asking for a copy of my loan agreement with them which i have now recieved but along with the copy i asked for was another 5 agreements but by looking at this it seems they have settled and opened another agreement one after the other this goes back to 2003 and the most recent one being 2005.

To cut a long story short back in 2005 i lost my job and couldnt afford to pay the loan so i asked them to claim on my PPI and was told this was not the case and i had to keep paying the full amount this was not possible as it was £160 a month we then came to the agreement to pay £5.00 per week un known to me this loan was then defaulted at 5,500 when i only orginally had a loan agreement of £4111 and taking of payments already made i cannot see how this how come to this amount? it was only that i did a statutory credit report on me i noticed this.

The debt was then passed to a debt recovery agency in 2009 and the balance transfered to them was 3827 towhich im still paying now.

Welcome also sent along statements of payments and i have noticed that when i couldnt afford to pay they were still slapping on interest of 65 a month!! along with ad hoc charges of 20.00.

Does any one know if i have a case here to reclaim interest and PPI or does it seem i need to take this further like a solicitor or Citizens Advice.

All help will be most appreciated as i feel i have been totally misold and ruined of my credit history for this.

Thank you.

di3004

Hello there

Sorry about your issues here.

So you tried to make a claim for unemployment - and they would not pay out?
If so what was the reason for this?

If your in an arrangement plan, I take it the ppi is still added to the debt, in this case and your not having any use for the ppi anymore, your still paying for the ppi, yet its worthless to you?

Hopefully others on here will give more advice on this one for you but, if your not able to make a claim for sickness/unemployment, now that you have a payment plan, then I would cancel the ppi and for the reasons why they did not pay out make a reclaim.

However, please note, if successful, the ppi is normally used to reduce the debt balance, anything remaining plus interest should be refunded directly to you.

I would also check Martin's details below, and if this applies to you, I would pursue the ones who sold you the policy from the start, by sending the reclaiming questionnaire, remember to keep copies of all you send and receive, in case you need to refer to it later on.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

Hope this helps for now, but you can also wait for others opinions on this too if you want to, good luck.

anniekaiya

Thank you,

I was made redundant and mention this to them but what they have done is instead of offering to pay out the PPI was open another agreement for the same amount of money but lowering the monthly payments and over a longer period so therefore adding more PPI or £1141 and healthcare.

Im just confused - can they still add interest if you are no longer paying the loan? ie having difficulties as you had no job?? putting ad hoc fees of £20 a month on top.

Do i just write to them as normal asking for my PPI and interest back on all 6 agreements??

amersall

anniekaiya wrote: »

Thank you,

I was made redundant and mention this to them but what they have done is instead of offering to pay out the PPI was open another agreement for the same amount of money but lowering the monthly payments and over a longer period so therefore adding more PPI or £1141 and healthcare.
This is a complaint on its own, you were not employed but they gave you a loan instead of you claiming on the ppi.Put this in your mis sell letter.

Im just confused - can they still add interest if you are no longer paying the loan? ie having difficulties as you had no job?? putting ad hoc fees of £20 a month on top.
Not sure on this, but again, put this in your complaint.
Do i just write to them as normal asking for my PPI and interest back on all 6 agreements??

Yes just put a letter in saying you were mis sold this ppi and give your reasons, especially the one where they redid the loan instead of you claiming on the ppi.Dont forget to put each account number and post recorded delivery, they have 8 weeks to reply, please keep us posted and good luck.x

di3004

Hi there

Yes, as amersall says, and you can do each questionnaire separately or altogether, and as amersall states, make sure you write all account numbers that apply.
Good luck.:)

anniekaiya

Thank you,

Im in the middle of doing these now.

I will keep you posted

anniekaiya

Well i just thought i would log on here and update you on my welcome journey.....or should i say trek!!!

i posted my forms to Welcome on the 14th October recorded delivery recieved confirmation that they had been recieved and signed for only to call 4 weeks later and them to tell me they had recieved nothing...my father on the other hand also made a claim several days later and has just accepted and sent back a nice sum of £6601!!! it seems they went through all his old loans too which was a very nice new year for him,

me on the other is still waiting.....i called today to be told and offer has been made but they couldnt tell me over the phone as it still had to be approved...has any one else been told this??

i cannot wait to accept and sign to get these dam people out of my life..

Any news for any other welcome sufferers?? xx