A Welcome reply, (PPI Help please)

dexstroyer_2

Hello all,
I may of had some luck but would really like someone to clarify.
I wrote to Welcome Finance on 28th June 2011 with the data protection act 1998 SAR letter. I did not have any account details, just my personal information and addresses.
Today 25th July I have had a reply! It confirms both account numbers and states;
Please find enclosed documents held by Welcome Finance in relation to account numbers 446 & 496, Your statement of accounts has been requested and will arrive separately.

But there is a few pages with this letter titled "financial account - payment history" does this mean I have everything I need?

I'll call them account 446 and 596,

Acc 446
05/10/2000 Disbursal - Broker -£2895.00
05/10/2000 Interest charges -£1766.84
05/10/2000 Disbursal of fees -£85.00
05/10/2000 Insurance premiums Advanced -£120.00
The above continued to be paid until I took out a further loan to consolidate £2414.21 here and another product elsewhere.

Acc 596
20/08/2001 Loan disbursed to customer -£7000.00
20/08/2001 Disbursal of fees -£985.00
20/08/2001 Insurance premiums advanced -£2063.00
I continued to pay this until we moved and we settled at £7065.60 on 23/12/2003

Looking at the above am I to wait for any further paperwork or by luck has it been included? And am I entitled to claim something back from the above accounts due to the fact my Wife and I were told that we had no chance of acceptance without ticking for insurance, costs etc were never explained.

Any advice is greatly appreciated,

dexstroyer_2

Right,

I filled out the questionaire in detail now! :j and I have completed one for each account number.

Reading back through the guide do I need to specify the amount Im asking for and do I add interest, or simply supply a copy of the statement they have sent to me?

amersall

Hi there, just noticed your last loan ended in 2003 i think you will have to go for the broker and if they come back to you and say no you will have to go to the insurer on these,Welcome will only write back to you and say that they did not sell you the loan it was the broker,and Welcome nor the broker will have been regulated.

Give Welcome a ring and ask who the broker and insurer was,put a claim into each of these.

When the insurer gets back and says no,then the FOS can help.


You dont need to work this out,they will do this,if you think the workings out are wrong then post them here and someone will help you with this.
You need to put a copy of the statement Welcome have given you.

This was front loaded ppi and you were not told that the ppi was on the loan to term end with interest,and that the ppi only lasted a few years and you would not have been covered after this ran out but the loan was still running,this is a reason too for mis sell of this type of ppi.

You may be better waiting for other info Welcome have said they will send,this may have the broker and insurer details on there,but you may be quicker phoning and asking for this info.

dexstroyer_2

amersall wrote: »

Hi there, just noticed your last loan ended in 2003 i think you will have to go for the broker and if they come back to you and say no you will have to go to the insurer on these,Welcome will only write back to you and say that they did not sell you the loan it was the broker,and Welcome nor the broker will have been regulated.

Give Welcome a ring and ask who the broker and insurer was,put a claim into each of these.

When the insurer gets back and says no,then the FOS can help.


You dont need to work this out,they will do this,if you think the workings out are wrong then post them here and someone will help you with this.
You need to put a copy of the statement Welcome have given you.

This was front loaded ppi and you were not told that the ppi was on the loan to term end with interest,and that the ppi only lasted a few years and you would not have been covered after this ran out but the loan was still running,this is a reason too for mis sell of this type of ppi.

You may be better waiting for other info Welcome have said they will send,this may have the broker and insurer details on there,but you may be quicker phoning and asking for this info.

Thank you so much for the input, im slowly struggling to understand!

Ok so, I am to send a copy of the questionaire and the statement from welcome for each account to the broker and insurer, once I know the information for both?

Should I scan the documents I have and attach them on here? I will omit account numbers etc if you think it will help.

dexstroyer_2

Morning All,

I have scanned in the financials but cant find the option to attach, can you point me towards the option?

amersall

dexstroyer wrote: »

Thank you so much for the input, im slowly struggling to understand!

Ok so, I am to send a copy of the questionaire and the statement from welcome for each account to the broker and insurer, once I know the information for both?

Yes that is what you do,dont forget to send recorded delivery.

Should I scan the documents I have and attach them on here? I will omit account numbers etc if you think it will help.

You can if you want to.

dexstroyer_2

Ok so, I am to send a copy of the questionaire and the statement from welcome for each account to the broker and insurer, once I know the information for both?

Yes that is what you do,dont forget to send recorded delivery.

Ok,

So Im not to send them to Welcome due to the time the loan was taken out? or is there more to it than that?

dexstroyer_2

amersall wrote: »

Hi there, just noticed your last loan ended in 2003 i think you will have to go for the broker and if they come back to you and say no you will have to go to the insurer on these,Welcome will only write back to you and say that they did not sell you the loan it was the broker,and Welcome nor the broker will have been regulated.

Give Welcome a ring and ask who the broker and insurer was,put a claim into each of these.

When the insurer gets back and says no,then the FOS can help.


You dont need to work this out,they will do this,if you think the workings out are wrong then post them here and someone will help you with this.
You need to put a copy of the statement Welcome have given you.

This was front loaded ppi and you were not told that the ppi was on the loan to term end with interest,and that the ppi only lasted a few years and you would not have been covered after this ran out but the loan was still running,this is a reason too for mis sell of this type of ppi.

You may be better waiting for other info Welcome have said they will send,this may have the broker and insurer details on there,but you may be quicker phoning and asking for this info.

Sorry I've been away for a week or so,

I have still not had any further information from Welcome so I will take your advice and give them a call tomorrow and ask for the broker and insurer,

Fingers crossed I can then jump to the next step,

Also reading above am I to understand that they charged me PPi and then added interest to it?

Thanks amersall,

amersall

dexstroyer wrote: »

Sorry I've been away for a week or so,

I have still not had any further information from Welcome so I will take your advice and give them a call tomorrow and ask for the broker and insurer,

Fingers crossed I can then jump to the next step,

Also reading above am I to understand that they charged me PPi and then added interest to it?

Thanks amersall,

They do add interest to the ppi,this is over the whole term of the loan too, so this is like having 2 loans.
This is why these sort of ppi mis sells are upheld.

dexstroyer_2

That is really bad....I hadnt realised the extent of the "overcharge"

Do you still suggest I ring Welcome and ask for the broker and insurer details or should I sit tight and wait?

amersall

dexstroyer wrote: »

That is really bad....I hadnt realised the extent of the "overcharge"

Do you still suggest I ring Welcome and ask for the broker and insurer details or should I sit tight and wait?

Ring Welcome and ask for broker and insurer details,do this for both loans,as thet were pre 2005, once you have the details, send them off asap x.