PPI Reclaiming Discussion Part 5

jason_chapple

got a letter from welcome finance in 2010 i got a £3000 refund i got a letter last week saying im due a further refund of £356 but they are taking £292 to remove all remaining unpaid ppi surely they cant do that as it was the ppi that was missold so why do i have to pay this fee

dunstonh

jason_chapple wrote: »

got a letter from welcome finance in 2010 i got a £3000 refund i got a letter last week saying im due a further refund of £356 but they are taking £292 to remove all remaining unpaid ppi surely they cant do that as it was the ppi that was missold so why do i have to pay this fee

The £292 will not be a fee. It will be a deduction. Its not clear from what you say what the deduction actually is.

Typical deductions are:
1 - tax on the interest part of the refund
2 - claims paid out on the policy
3 - arrears, defaults or amounts previously written off as part of a settlement.
4 - PPP premiums not yet made (such as from the monthly payments) but will not be collected in the future

jason_chapple

all it says is adjustment to your loan account to remove all unpaid ppi £292.32 there was no arrears on my account the tax has been taken off already

[Deleted User]

jason_chapple wrote: »

all it says is adjustment to your loan account to remove all unpaid ppi £292.32 there was no arrears on my account the tax has been taken off already

If you dispute the deduction, you'll have to contact Welcome to ascertain why they believe they can offset your redress in this manner. On the forum , we can only guess.

jason_chapple

i rung them this morning and they said it was still remaining on my account as the didnt calculate it correctly in the first place then i noticed on there that it says if your loan is still open a balance reduction maybe required to remove any remaining ppi from your loan account. this will ensure that you do not make any further payments towards the cost of the ppi element of the loan. the loan has been closed since they paid me out the £3.116.79 in 2010 i rung them back this afternoon since i spoke to someone my details have dissapeared of there system and they will ring me back im not holding my breath

[Deleted User]

jason_chapple wrote: »

they said it was still remaining on my account as the didnt calculate it correctly in the first place

If that is the case then you can hardly argue that all the money should be refunded to you. It looks like you weren't being chased for the outstanding monies as it was their own error, but this extra money has come to light and they are correcting both errors at the same time.

I'd look at it as an extra £64, not as a loss of £292 if I were you...

If you remain dissatisfied, refer your concerns to the Ombudsman.

jason_chapple

i have contacted the ombudsman by email as i still feel they are robbing me

[Deleted User]

jason_chapple wrote: »

i have contacted the ombudsman by email as i still feel they are robbing me

You have to make a formal complaint to Welcome first, then allow them eight weeks to respond before you can properly refer to the Ombudsman.

jason_chapple

i have tried but all my details have dissapeared off there system since i spoke to someone this morning and they fobbed me off saying they will call me back

R11jone

If you have contacted you bank and asked if your loan has ppi and they so no. How do you check. My loan is with tesco and they said I had no ppi. So I asked who the underwriter was. They said they underwrite themselves. How do I check and what do I do next?
Thanks