welcome finance and fcsc ppi

RMTOM44

Hello

After some advice if anybody can help. 11th of October received a letter from FCSC regarding ppi with welcome. I had car finance in 2005 for £6500 and a personal loan in 2006 for £11,100. both paid off . However did not realise i had ppi and thought all insurances on my loan was complusory. How long has people had to wait from sending forms off ?? and has anybody been rejected ???

they received the forms on the 14th october

Thanks for any help or advice.

di3004

Hi there

So are you still waiting to hear from the FSCS?

Many have had successful reclaims dealt with by the FSCS with Welcome and other various companies who have gone in default.

It's difficult to give a timescale but with Welcome as they are already in default and are not waiting to, it could be a matter of weeks, or call it a month or 2 approx, depending if they will require any further information.

The FSCS normally passes cases to a company called Deloittes who will be doing the main of the work, then once that's done, they pass the case back to the FSCS to arrange payouts.

I would though contact the FSCS to ask for updates.

So was it Welcome that set up and sold your account?
If so its the correct procedure to take with the FSCS direction, but otherwise if it was set up by a dealer, you normally have to pursue them, as they were responsible for setting up the account, despite the paperwork being that of the lender for example Welcome Finance, as I assume the monthly payments were made to Welcome as well.

But if Welcome did set up the account your going the right direction with the FSCS.

Hope this helps and good luck, contact them to ask for updates.

http://www.fscs.org.uk/what-we-cover/questions-and-answers/qas-for-welcome-financial-hn0qripj/

http://www.fscs.org.uk/contact-us/

RMTOM44

di3004 wrote: »

Hi there

So are you still waiting to hear from the FSCS?

Many have had successful reclaims dealt with by the FSCS with Welcome and other various companies who have gone in default.

It's difficult to give a timescale but with Welcome as they are already in default and are not waiting to, it could be a matter of weeks, or call it a month or 2 approx, depending if they will require any further information.

The FSCS normally passes cases to a company called Deloittes who will be doing the main of the work, then once that's done, they pass the case back to the FSCS to arrange payouts.

I would though contact the FSCS to ask for updates.

So was it Welcome that set up and sold your account?
If so its the correct procedure to take with the FSCS direction, but otherwise if it was set up by a dealer, you normally have to pursue them, as they were responsible for setting up the account, despite the paperwork being that of the lender for example Welcome Finance, as I assume the monthly payments were made to Welcome as well.

But if Welcome did set up the account your going the right direction with the FSCS.

Hope this helps and good luck, contact them to ask for updates.

Hello

Yes it was welcome finance i took them out with itself .

I rang today to be told it is at stage 3 of 5 ??

Just hope i have some good luck .

And it arrives before christmas if i do have anything , Fingers cross but doubtful

Thanks again

amersall

RMTOM44 wrote: »

di3004 wrote: »

Hi there

So are you still waiting to hear from the FSCS?

Many have had successful reclaims dealt with by the FSCS with Welcome and other various companies who have gone in default.

It's difficult to give a timescale but with Welcome as they are already in default and are not waiting to, it could be a matter of weeks, or call it a month or 2 approx, depending if they will require any further information.

The FSCS normally passes cases to a company called Deloittes who will be doing the main of the work, then once that's done, they pass the case back to the FSCS to arrange payouts.

I would though contact the FSCS to ask for updates.

So was it Welcome that set up and sold your account?
If so its the correct procedure to take with the FSCS direction, but otherwise if it was set up by a dealer, you normally have to pursue them, as they were responsible for setting up the account, despite the paperwork being that of the lender for example Welcome Finance, as I assume the monthly payments were made to Welcome as well.

But if Welcome did set up the account your going the right direction with the FSCS.

Hope this helps and good luck, contact them to ask for updates.

Hello

Yes it was welcome finance i took them out with itself .

I rang today to be told it is at stage 3 of 5 ??

Just hope i have some good luck .

And it arrives before christmas if i do have anything , Fingers cross but doubtful

Thanks again

Hi there,when you want to answer a post,just click the quote button underneath the post you want to answer

Fingers crossed x.

RMTOM44

amersall wrote: »

RMTOM44 wrote: »

Hi there,when you want to answer a post,just click the quote button underneath the post you want to answer

Fingers crossed x.

THANK YOU .

ITS STRESSING ME OUT JUST WANT TO KNOW NOW

shellysexbomb

RMTOM44 wrote: »

amersall wrote: »

THANK YOU .

ITS STRESSING ME OUT JUST WANT TO KNOW NOW

Dont hold your breath. We submitted a questionnaire in early April and had a replay dated 27/04 stating they would deal with it in 30 days. We are still waiting and just get given the run around when we phone. I am debating puttin my account into dipute to speed them up. (claiming I am paying higher payments due to mis-sold ppi) :mad:

dunstonh

I am debating puttin my account into dipute to speed them up.

That will just damage your credit standing and its not the debt that is the issue.

RMTOM44

shellysexbomb wrote: »

RMTOM44 wrote: »

Dont hold your breath. We submitted a questionnaire in early April and had a replay dated 27/04 stating they would deal with it in 30 days. We are still waiting and just get given the run around when we phone. I am debating puttin my account into dipute to speed them up. (claiming I am paying higher payments due to mis-sold ppi) :mad:

No Way

I thought the fcc had to deal with it within 30 working days ? What stage do they tell you your at ?

coldozer

Hi, I received a letter this morning from fcsc and they have agreed that I was mis sold to the sum of £3,252.67.
However the sum will be used to reduce my outstanding loan!
This is good news as they have ruled in my favour but I have been put into financial difficulty due to this and am still struggling. Is it worth challenging this to pay me the money or would I be wasting my time?
Any advise would be appreciated thanks!

RMTOM44

Cant you contact them to explain your current situation and explain your financally struggling ??

How long has it took for your claim to go through please ?

coldozer

Hi RMTOM44,it was about 8 weeks in total,so not to bad. I'm thinking of contacting them but I'm just wondering if it is just set in stone or if there is some flexibility. The money would be an enormous help and virtually put me back on track.