Confused after letter from Welcome Finance

nsabournemouth

Hope someone can shed some light on this for me!

Had a letter today as follows:

'Some time ago you made a complaint about your PPI policy. We upheld your complaint because we could not be satisfied that the policy was suitable for you.

As part of our normal quality control process i have reviewed the outcome of your complaint. I see that you had PPI policies attached to one or more other loans with us which you did not complain.

If you would like me to re-consider your complaint taking into the other PPI policies please complete the enclosed form and return this to me'

Now i do remember questioning these other policies and was advised that because they finished before 2005 i cannot claim. I was also advised that as i had 2 policies that had been re-written the PPI would of been carried over.

Is this just Welcome conforming to some new FSA requirement or am i in line for another payout?

di3004

nsabournemouth wrote: »

Hope someone can shed some light on this for me!

Had a letter today as follows:

'Some time ago you made a complaint about your PPI policy. We upheld your complaint because we could not be satisfied that the policy was suitable for you.

As part of our normal quality control process i have reviewed the outcome of your complaint. I see that you had PPI policies attached to one or more other loans with us which you did not complain.

If you would like me to re-consider your complaint taking into the other PPI policies please complete the enclosed form and return this to me'

Now i do remember questioning these other policies and was advised that because they finished before 2005 i cannot claim. I was also advised that as i had 2 policies that had been re-written the PPI would of been carried over.

Is this just Welcome conforming to some new FSA requirement or am i in line for another payout?

Hi there

Funny enough a few of us received further payouts from Lloyds a few weeks back on upheld complaints they already paid out on but they stated they underpaid, so we received further payments.

It could be that they have to review previous rejected complaints as well, but not too certain on this.

But I would maybe sign the form and see what happens, good luck with this.;)

nsabournemouth

di3004 wrote: »

Hi there

Funny enough a few of us received further payouts from Lloyds a few weeks back on upheld complaints they already paid out on but they stated they underpaid, so we received further payments.

It could be that they have to review previous rejected complaints as well, but not too certain on this.

But I would maybe sign the form and see what happens, good luck with this.;)

Will post when i speak with them tomorrow.

di3004

nsabournemouth wrote: »

Will post when i speak with them tomorrow.

Good luck to you, please keep us posted.;)

traz39

nsabournemouth wrote: »

Hope someone can shed some light on this for me!

Had a letter today as follows:

'Some time ago you made a complaint about your PPI policy. We upheld your complaint because we could not be satisfied that the policy was suitable for you.

As part of our normal quality control process i have reviewed the outcome of your complaint. I see that you had PPI policies attached to one or more other loans with us which you did not complain.

If you would like me to re-consider your complaint taking into the other PPI policies please complete the enclosed form and return this to me'

Now i do remember questioning these other policies and was advised that because they finished before 2005 i cannot claim. I was also advised that as i had 2 policies that had been re-written the PPI would of been carried over.

Is this just Welcome conforming to some new FSA requirement or am i in line for another payout?

i had one exactley the same today mine was payed out in feburary i have signed n sent it back see what happens

WombleSW20_2

I think what is happening is that firms like Welcome are having to review all previously rejected miss-sell compliants on PPI under the PPI compliants requirement set out by the FSA. The likelyhood is that they've identified systemic miss-selling across the products and therefore are writing to each customer to allow them to re-issue a miss-sell compliant. (loans.co had to do a similar exercise a few years back). This means that if you re-issue a compliant, I'm guessing that they will repay all your premiums with interest without challenging you. Saying that, they might delay looking at your case (as the PPI was sold before 2005) until the judicial review by the banks has been settled.

nsabournemouth

Spoke to them this morning and they are going back as far as 2003

sadiejp

I too got a letter today although from paragraph 3 mine reads....... the compensation that should of been paid to you is £2418.66 this includes compensation to recognise that the initial response to your complaint was unsatisfactory. i explain in the attached explanation of compensation calculation how i arrived at these figures


Is this really too good to be true they are asking for bank acct no and sort code....maybe i will open one up especially

What are your thoughts???

di3004

sadiejp wrote: »

I too got a letter today although from paragraph 3 mine reads....... the compensation that should of been paid to you is £2418.66 this includes compensation to recognise that the initial response to your complaint was unsatisfactory. i explain in the attached explanation of compensation calculation how i arrived at these figures


Is this really too good to be true they are asking for bank acct no and sort code....maybe i will open one up especially

What are your thoughts???

I would definately contact them for ease of mind.

Some of us from Lloyds received further payouts, but were sent by cheque payments.

Good luck.;)

traz39

sadiejp wrote: »

I too got a letter today although from paragraph 3 mine reads....... the compensation that should of been paid to you is £2418.66 this includes compensation to recognise that the initial response to your complaint was unsatisfactory. i explain in the attached explanation of compensation calculation how i arrived at these figures


Is this really too good to be true they are asking for bank acct no and sort code....maybe i will open one up especially

What are your thoughts???

i still have a loan with them so they already have my bank details if u dont still have a loan maybe thats y they r asking for these but still would ring n make sure did u get any compensation after your original complaint ? is the £2418.66 extra to that ? i still would have thought they would send u a cheque i got cheque last time and they already have my bank details would definatley check this out good luck.

stephel

I recieved a letter yesterday, saying they didn`t pay me enough so they need my bank details so they can send a further payment of over £300. This will be paid by bacs and allow 30 days.