PPI Cancel? Welcome Finance

Beckyboo79

Sorry to anyone that has repllied to me on previous thread, dont think i have been explaining my situation properly.:o

Basically

Took out a loan with my ex in 2004 ish, it is joint loan, we split up jan 07, i have been paying this loan since (we agreed this when we split), i have noticed recently that only his name is on the insurance. SO i have been paying insurance for nearly 4 yrs that is totally pointless.

Does anyone know where i would stand on this, should i contact Welcome to see if i can cancel the insurance and claim a refund? They know that we split as i informed then of it at the time.

Or do i just fill in the questionaire and send it off??

I dont know what to do for the best to start things off?

Any advice gratefully recieved, hope i have explained things a bit clearer

xx

jjr197

I used a company called Fair Trade Practice (I think that was what they were called)to reclaim the money for me, and they did all the work for me. :j
I did have to pay (obviously!) but I didn't have to do anything really so I didn't mind. One of the guys I spoke to there was a bit of a ~$*&%, but mostly they were quite nice to deal with.
You could just contact Welcome yourself though on 0845 6187804. It took me about 45 minutes to get through though (on an 0845 number!!! Bloody cheek).

Jimi

(If you want to use the company I used (0800 8818562), tell them that Jimi Reed suggested you call them as I'll get some M&S vouchers that way! )

di3004

Beckyboo79 wrote: »

Sorry to anyone that has repllied to me on previous thread, dont think i have been explaining my situation properly.:o

Basically

Took out a loan with my ex in 2004 ish, it is joint loan, we split up jan 07, i have been paying this loan since (we agreed this when we split), i have noticed recently that only his name is on the insurance. SO i have been paying insurance for nearly 4 yrs that is totally pointless.

Does anyone know where i would stand on this, should i contact Welcome to see if i can cancel the insurance and claim a refund? They know that we split as i informed then of it at the time.

Or do i just fill in the questionaire and send it off??

I dont know what to do for the best to start things off?

Any advice gratefully recieved, hope i have explained things a bit clearer

xx

Hi there

Was the loan taken over by you and agreed so by the bank?

If so you able to make the reclaim on the ppi, and all you do is complete the reclaiming questionnaire as shown on the link below.

If your both still liable for the loan though on paper then you both make the reclaim.

Personally I would not use a claims company, not when they only do the same as this on here, they will end up charging, and having a go on your own is straight forward enough really.

Remember to keep copies of all you send and receive in case you need to refer to this at some point, they normally have 8 weeks to give a decision.

Be aware the questionnaire replaced the template letter on this site.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

Good luck.

Beckyboo79

I dont really want to go through claim companies as they cahrge so much and want a percentage, i cant afford to do that.

When we split i informed Welcome Finance, and they said they couldnt take his name off the loan, but i requested no paperwork be sent to him (dont want him knowing my personal info etc) they said this would be fine so i continued to pay, but like i say have just noticed the name on the insurance, which to me is obv invalid now as i cant claim on it. I dont know whether to ring welcome and see if they can help or just go ahead and fill in the questionaire, would i need him to fill it in to?

Thank you

jjr197

di3004 wrote: »

Personally I would not use a claims company, not when they only do the same as this on here, they will end up charging, and having a go on your own is straight forward enough really.

I have done a claim myself too, and I agree that it is straight forward in terms of what you have to do. I found that it did end up taking a lot of calls to Welcome's 0845 number though, which is why I thought I'd try a company. They did get a result much quicker than the claim I did myself, but if I had more spare time to deal with it, and if I had another claim, I might do it myself again.

If you can, record any calls that you have with Welcome. I found that every time I spoke to them they told me slightly different information. Make sure that you inform them that you're recording the call at the outset though.

Jimi

(FYI I was charged 25% of the cash that I got back payable after I got the £££)

Beckyboo79

I would go through one if they were free and didnt want a cut, It is all quite daunting knowing how to start things and word things, dont want to put something wrong that will ruin it all !!

jjr197

Beckyboo79 wrote: »

I would go through one if they were free and didnt want a cut,

Lol, They'll never do that, obviously! Business is business after all!

Beckyboo79 wrote: »

It is all quite daunting knowing how to start things and word things, dont want to put something wrong that will ruin it all !!

Don't worry too much, you won't ruin anything. Use letter templates and forms on here and keep everything simple, stick just to the facts, and you shouldn't have any problems.

Jimi

Beckyboo79

I hope i dont lol

roonaldo

jjr197 wrote: »

I used a company called Fair Trade Practice (I think that was what they were called)to reclaim the money for me, and they did all the work for me. :j

avoid them, they are a mortgage broker called crystal clear home loans. they have your details as they sold you a sub prime mortgage 2-6 years ago. they go through their existing client database hunting for people with PPI.

the ironic thing about them is that they sold plenty of single premium PPI!

micksea173

I made two claims to Welcome for my loan that I have with them and for the previous loans I had. All I did was to get the template letter that was on this website and sent it off. They replied at the beginning of the year with a settlement and they have had another look and taken my previous loans as well into account received another amount of just over £3,500. I didn't use any company just did it off my own back to get it sorted out. I also didn't have to phone them either.

jjr197

roonaldo wrote: »

avoid them, they are a mortgage broker called crystal clear home loans. they have your details as they sold you a sub prime mortgage 2-6 years ago. they go through their existing client database hunting for people with PPI.

the ironic thing about them is that they sold plenty of single premium PPI!

Looks like they're a company called "The Protection Specialist Ltd". Perhaps they bought the client database from Crystal Clear Home Loans?

They're not registered with the FSA, so they are obviously not a mortgage broker themselves.

I can only comment on my own experience however, and I didn't have any problems with them.

Micksea, nice one doing it yourself. I guess that where the whole claim thing has taken off since the start of the year when you did yours, Welcome can't cope with the volume of complaints. I don't like to think how much time I spent on the phone!

Jimi