15 year old claim- Please say yes....

robbedofmymoney

calum1 wrote: »

Thank you everyone for that. The loan did run for the whole duration. That gives me enough information to make a start. I'm sure I'll be requesting more of your valuable knowledge as time goes on. I suspect from reading other threads that this may be a long process.

Calum

if you are succesful you will also be entitled to an extra 8% simple interest payment for being deprived of your money,

this would equate to approximately £1700 compensation payment on top of the premiums and interest you paid

Easypd

madmish00 wrote: »

Maybe I am missing something here:




So you had PPI which you feel you were mis-sold as you were in a secure profession and therefore didn't need it. Yet you were unable to pay the loans at some point to the extent that a CCJ was issued?

Why didn't you claim on the PPI? Or did you?

Pretty much. I had a loan, met a good woman with a loan. Good woman changes job and finds out she is pregnant about a week later. Didnt really get any decent maternity pay other than statutary pay. Went from two well paid jobs with loans to match, to one job with two loans, cards etc. I could not claim, as i was still working. My wife could not claim, as her PPI did not cover pregnancy or any related illnesses.

We were taught a valuable lesson in money management!

It was hell the way Nationwide shown no understanding or flexibility and basically put me through the wringer in court. They sent letters to number 22 on my road, when i lived at 222 and fined me for not replying. Did the same with court papers and i had court fees for not turning up to a hearing i did not know about. All this even though when i was paying, they never had an issue with incorrect addresses.

I was naive at the time and jut accepted the address 'scam' to ramp up my fees (i think i ended up paying an extra £500ish after court awards and fees for that scam)

I would not stand for that now and would love to get one over on them with a claim for PPI rebate, just as a last two fingers up and to have the last word.

Constant calls and demands etc, they were evil. Dont know if things are different 15 years later, but i do not want to be in that situation again and sympathise fully with any who are.

We worked hard and after the CCJ, we managed to pay everything off and clear it all, so i would have paid the ppi, as it was addedon to the loan at the start...

Easypd

Ok, here is an update:

Turned the house upside down. No statements, or account nuumbers etc.

BUT, what i do have is the original loan agreement. It is the cover letter accepting my application and my copy of the agreement (the other copy was signed and returned)

Now, as it is the agreement, i do not have the account number (i guess it is generated and sent after signing)

I remember that i did not apply for the 'loancare cover' and got a call at work, basically telling me that as i was young i would need the cover. I specifically asked 'are you saying if i do not take the cover, i cannot get the loan' to which she replied 'that is correct'.

I only remember this specifically because i remember feeling ripped off at the time, as i had never heard of anyone in my profession losing their job and i had pointed that out to the girl.

Anyway, i have my loan acceptance letter (Dear Mr. Pullen, thank you for your loan application, which i am pleased to tell you has been accepted) and my copy of the agreement:

....Loan: £8500,.........Credit insurance:£1529.69...Total £10029.69
Interest:£2871.80.................interest:£516.91.....Total £3388.71
....Total:£11371.80...................Total:£2046.60....Total £13418.40

60 monthly payments, apr 12.8%

It clearly shows the PPI added on to the loan.

Would i be able to claim based on this information only and bsed on the fact i broke the agreement by paying reduced payments for a period of time.

The loan was eventually paid in full, so i would like to think i can still argue a claim, but you guys know better on here...

withabix

calum1 wrote: »

If the above is not relevant will I need to contact Welcome Finance to confirm who provided their insurance?

That will be the Administrators of Welcome Finance, as Welcome went into Administration in March.

PPI claims for loans taken out since March 2005 (ie last 6 years) are being referred to the FSCS.

Anything earlier than that probably won't be settled IIRC.

amersall

http://www.wfs.co.uk/faqs.html#k

calum1

To update those that gave advice. amersall, robbedofmymoney and withabix.

Spoke with WFS they inform me that as the policy was taken out pre Feb 2003, the FSA have informed them given the policy was older than that they can now class this as "time barred"

They gave address, "surprise, surprise its WFS" that I could submit details of loan and PPI, but the response I would receive from them would be what is detailed above.

Thank you to those above for guidance offered. All the best to those seeking their justified claims.

Calum

calum1

calum1 wrote: »

To update those that gave advice. amersall, robbedofmymoney and withabix.

Spoke with WFS they inform me that as the policy was taken out pre Feb 2003, the FSA have informed them given the policy was older than that they can now class this as "time barred"

They gave address, "surprise, surprise its WFS" that I could submit details of loan and PPI, but the response I would receive from them would be what is detailed above.

Thank you to those above for guidance offered. All the best to those seeking their justified claims.

Calum

Apologies that may have been FSCS (financial Services Compensation Scheme) rather than FSA.

The_Marksman

calum1 wrote: »

To update those that gave advice. amersall, robbedofmymoney and withabix.

Spoke with WFS they inform me that as the policy was taken out pre Feb 2003, the FSA have informed them given the policy was older than that they can now class this as "time barred"

They gave address, "surprise, surprise its WFS" that I could submit details of loan and PPI, but the response I would receive from them would be what is detailed above.

Thank you to those above for guidance offered. All the best to those seeking their justified claims.

Calum

Thats bad news, id still send the forms off, you never know unless you see it though to the very end:cool:

amersall

calum1 wrote: »

To update those that gave advice. amersall, robbedofmymoney and withabix.

Spoke with WFS they inform me that as the policy was taken out pre Feb 2003, the FSA have informed them given the policy was older than that they can now class this as "time barred"

They gave address, "surprise, surprise its WFS" that I could submit details of loan and PPI, but the response I would receive from them would be what is detailed above.

Thank you to those above for guidance offered. All the best to those seeking their justified claims.

Calum

Did you find out who the insurer was?. This is the route to take, as FOS can then deal with this if the insurer says no.

calum1

amersall wrote: »

Did you find out who the insurer was?. This is the route to take, as FOS can then deal with this if the insurer says no.

I phoned Welcome back to confirm their insurer, I was told Aviva but then given the run around the country for an address. Second phonecall (with your prompting Amersall) makes me all the more suspicious as to what the position really is.

I suspect that Welcome will return a letter saying "time barred", not sure if that would be the outcome if I find the address for the insurer.

Now I will be following this up Marksman.