Welcome finance from 2002

baz8790

Hi
I have always had this ppi payments i had with welcome finance in the back of my mind before but never thought of claiming back.

the main thing that annoys me is that at the time i got a car finance loan from them i was told that they would only give me the loan if i took the ppi.

one problem i have is that i do not have the original agreement from them to get any details of the finance and i have moved since then too.

I done a credit search on myself today and that loan still comes up in my credit search so i now have the start date, it was paid in full and i never missed any payments.

where would i stand with trying to claim this back?

daves380

i would still say go for it....i had a loan with them....paid off...lived at a different address ...i had no details whatsoever....i just gave them my name and address at the time of the loan etc.....

i found there address and wrote to them,they dismissed it blah blah....so i wrote to the ombudsman with the relevant complaints form....and am waiting to hear.....so...all i`d say is "if you don`t ask you don`t get"

good luck

baz8790

Thanks!
going to have a look at all the info on the site and get a leter sent out to them

nellynelson2

Hi, Give WFS a call on 08453730386. Tell them your details at the time and you'd like the account details etc. Then, call Direct Group on 08444124100 and quote the account number/s, and they'll (if you need them) send out the policy schedules, ie ppi and any other add ons WFS just put into the deal. Soon as they come through, Get in touch with Aviva, as they underwrote WFS Loans and were regulated (You'll find out more about this through Direct).

Good Luck!

magpiecottage

The difficulty you have is that Welcome Finance has been declared "in default" by the Financial Services Compensation Scheme.

This means it has concluded that Welcome Finance will not be able to pay any redress awarded against it.

Therefore the Financial Ombudsman Service will not now look at complaints against it because there is no point - even if the complaint is upheld there is no money to pay.

The Financial Services Compensation Scheme can award redress from a fund paid for by the customers of other firms (it is not conjured out of thin air) but they cannot do so for sales prior to 14 January 2005.

Aviva may have underwritten the policy and did subscribe to the General Insurance Council's code but, to be liable you would have to show it was responsible for any missale. As Welcome Finance was independent, Aviva had no direct responsibility. The only way it could be held at fault is if Welcome Finance did not also subscribe to the code at the time, in which case it should not have accepted the business.

nellynelson2

magpiecottage wrote: »

The only way it could be held at fault is if Welcome Finance did not also subscribe to the code at the time, in which case it should not have accepted the business.

On the paperwork I have, Norwich Union and Direct Group subscribe to the GISC, but theres no mention of WFS doing so.

The FOS have me to believe that with WFS before 2005, the underwriter route is a route that people have been successful.

Not saying its a certainty, but if you've the contracts etc, surely its worth a go.