welcome finance loan 2005 ppi claim

helen7373

Hi

Can anyone tell me if it's worth me making a claim for ppi for a loan that I took out with Welcome Finance.

I took the loan for 3k out in 2005 and was advised to take out the ppi. I paid this loan off early in 2007.

I have since moved house and changed my name due to marriage and cleared out all the corresponding paperwork in 2010.

Is it still worth putting in a claim?

Many thanks.

Helen

kjharve

Yes - it definitely is. My wife had a loan around this time and she was told she had to take PPI in order to be accepted.

Be warned though - they don't make it easy. We've also moved house and got married since and they insisted on seeing ID and marriage certificate before even sending out the form. We've done that but 2 months later we're still waiting for the form as they've said the ID we sent wasn't good enough.

We phoned to complain and have been assured it's in the post. We told them to hurry up or we'll go to FOS.

It will definitely be a long process!

dazza12

Contact the FSCS.

Welcome are in default, and as a result have technically gone bust - they're unable to lend and simply exist as a collection facility these days.

I've been contacted by the FSCS directly as they're taking on the responsibility of refunding PPI as it is assumed Welcome can not afford to.

I've not yet completed my forms, but hope to within the next few days.

babydoll79

dazza12 wrote: »

Contact the FSCS.

Welcome are in default, and as a result have technically gone bust - they're unable to lend and simply exist as a collection facility these days.

I've been contacted by the FSCS directly as they're taking on the responsibility of refunding PPI as it is assumed Welcome can not afford to.

I've not yet completed my forms, but hope to within the next few days.

if you haven't yet completed your forms i would do it now and send it off, I was sent the form late last year (didnt think i had much chance of getting any compensation) sent it off, was contacted in october for more information and yesterday received a letter stating i was entitled to over £5000. Although if you stil have an outstanding balance with Welcome it will be set against that before any payment is issued to you. (still better off either way) good luck with your claims

sazdaz123

weve had £1600 back off welcome finance, the fscs send you a questionairre out and we were all sorted in 5 weeks. quite impressive

joanne13

I received the questionaire from Fscs for a Welcome finance loan,but I,ve accidentaly thrown away the addressed envelope to return it.
Can anyone advise of the address as I,M not sure to return it to Welcome finance or Fscs.

lyly85

I had a loan with welcome finance from 2007 which was paid off last year, i dont have any of the other details, can i still claim and is there a letter template that i could use?

amersall

For Welcome loans post January 14th 2005, contact Welcome direct, if you do not have the loan number they should be able to find your account.
The FSCS are dealing with Welcome loans pre the date above.