Welcome Car Finance PPI Reclaim

arjames090686

Hi Everyone,
I sent off the template letter and FOS questionaire today to Welcome Car Finance's compliance department. Back in Aug 2007 i purchased a vaux corsa and PPI was added to the agreement at a cost of around £2K.
I was informed that 'i was better off' taking the PPI as it made my application a lot stronger. being naive and 21 i went along with this and have since discovered this website and the forums.

All the correspondence have been photocopied and i have included details of the sales persons name etc as i found this on the original documents. Does anyone know how long welcome will take to respond to the initial letter and what i can expect to receive back as a rubbish response?

Ideally all i want is for them to admit they mis-sold and credit against the balance i have left to pay (£1800), i would quite happily settle for this rather than drag it out for the full amount and fight them for cash/cheque.

Alan

di3004

arjames090686 wrote: »

Hi Everyone,
I sent off the template letter and FOS questionaire today to Welcome Car Finance's compliance department. Back in Aug 2007 i purchased a vaux corsa and PPI was added to the agreement at a cost of around £2K.
I was informed that 'i was better off' taking the PPI as it made my application a lot stronger. being naive and 21 i went along with this and have since discovered this website and the forums.

All the correspondence have been photocopied and i have included details of the sales persons name etc as i found this on the original documents. Does anyone know how long welcome will take to respond to the initial letter and what i can expect to receive back as a rubbish response?

Ideally all i want is for them to admit they mis-sold and credit against the balance i have left to pay (£1800), i would quite happily settle for this rather than drag it out for the full amount and fight them for cash/cheque.

Alan

Hi Alan and welcome

The normal timescale is that of 8 weeks, they may ask for more time but keep you fully informed of the progress of your complaint.

However, they may I believe send you an acknowledgment letter (to confirm they have received your complaint with a given timescale of when you should expect to hear a decision).

Good luck on your reclaiming.;)

arjames090686

Thanks for your reply.

to be honest the whole process phases me slightly as i have never had to deal with such claims. I am now 3 and a half years into my HP agreement and to be fair to welcome they have actually been pretty decent whenever i have been in contact but i have fortunately never missed a payment. i have seen some of the horror stories on here and i am just glad that to date i have been one of the luckier ones.

However, i have only recently been looking at the sad amounts of debt i racked up since i turned 18 and upon inspecting the documents i noticed that the PPI, Breakdown and Shortfall cover where quite excessive (almost a quarter of what i am paying back (£14.5K for a corsa). At the time i was living at home, very little debt and in a very secure job (which i am still in now). The sales person at their bristol branch was very friendly but assertive when it came to the insurances. he informed me that the application would most likely be declined without PPI and it would help a lot due to my age. When you are 21 and starring at a nice shiny new car you kind of ignore what is right in front of you and sign away.

Having reviewed these forums i have seen that many people were put in similar situations and i can only assume that if you are going to welcome then you are already pretty desperate so having PPI forced on you is the last of your worries when you need a car for work.

I have nothing to lose by trying and i think it is very honourable of so many people giving up their time to help others with problems such as these. Without the various template letters and questionnaires it would be almost impossible to tackle this alone so it is very much appreciated.

I just have to sit back and hope for the best now. Best case would be they accept my claim and still behave in an amicable fashion afterwards as i do not fancy a rocky six months up to august when i pay my last payment!!!!

di3004

arjames090686 wrote: »

Thanks for your reply.

to be honest the whole process phases me slightly as i have never had to deal with such claims. I am now 3 and a half years into my HP agreement and to be fair to welcome they have actually been pretty decent whenever i have been in contact but i have fortunately never missed a payment. i have seen some of the horror stories on here and i am just glad that to date i have been one of the luckier ones.

However, i have only recently been looking at the sad amounts of debt i racked up since i turned 18 and upon inspecting the documents i noticed that the PPI, Breakdown and Shortfall cover where quite excessive (almost a quarter of what i am paying back (£14.5K for a corsa). At the time i was living at home, very little debt and in a very secure job (which i am still in now). The sales person at their bristol branch was very friendly but assertive when it came to the insurances. he informed me that the application would most likely be declined without PPI and it would help a lot due to my age. When you are 21 and starring at a nice shiny new car you kind of ignore what is right in front of you and sign away.

Having reviewed these forums i have seen that many people were put in similar situations and i can only assume that if you are going to welcome then you are already pretty desperate so having PPI forced on you is the last of your worries when you need a car for work.

I have nothing to lose by trying and i think it is very honourable of so many people giving up their time to help others with problems such as these. Without the various template letters and questionnaires it would be almost impossible to tackle this alone so it is very much appreciated.

I just have to sit back and hope for the best now. Best case would be they accept my claim and still behave in an amicable fashion afterwards as i do not fancy a rocky six months up to august when i pay my last payment!!!!

Your very welcome and wow your from the welsh valleys, or living in the welsh valleys then, not far from me as such! I have relations where you are by the way.;)

Personally I think you should be ok, and the ppi should have been made optional, but with you being young you were vulnerable as well I think.
Please keep us posted and ask for help whenever.:)

arjames090686

I did notice you were a local!!!

My dad is from newbridge so more your neck of the woods. Tonypandy isn't too far away from Gwent so maybe i will just pop in when i need a hand!!

di3004

arjames090686 wrote: »

I did notice you were a local!!!

My dad is from newbridge so more your neck of the woods. Tonypandy isn't too far away from Gwent so maybe i will just pop in when i need a hand!!

LOL, its a very small world, will look out for you then lol.:D:beer:

arjames090686

hi, should i ring them to confirm they received my letter? i have a proof of delivery from the royal mail site and i am just curious a sto how long they should take to acknowledge my complaint?

di3004

arjames090686 wrote: »

hi, should i ring them to confirm they received my letter? i have a proof of delivery from the royal mail site and i am just curious a sto how long they should take to acknowledge my complaint?

Hi

Yes you can do if you want to.;)

arjames090686

does anyone have the number for the compliance department in nottingham?

looked but couldnt find it.

di3004

Hi

Found this here, hope its the one, good luck.

http://www.wfs.co.uk/contact_us/contactus.html

arjames090686

what would i do without you!