About to send an SAR to welcome, will it get what i need?

wierdhead

Hi there guys, ive had a loan with welcome finance that thankfully ends in november this year, what an experience to learn from! certainly taught me the value of saving for what you want not lending from people like them!!

anyway, last time i spoke to the the advisor was talking about an early settlement, blah blah, this plus that minus any rebate from your insurance,,,,,,, im then like huh, i dont have any insurance, now it could have been that he was just saying what he always says or it may be more sinister, and i have ppi on this loan that i dont know about???

i dont have or cant find any copies of an agreement so i presume i need to send them a sar request?

also after reading through on hear i have learned about welcome putting charges on for telephone calls or letters etc, i used to have a call from them every month as 'acoount advice' im now imagining ive been billed for each of these unwittingly?
will these charges be detailed on the sar too?

thanks for your advice in advance

tim

di3004

wierdhead wrote: »

Hi there guys, ive had a loan with welcome finance that thankfully ends in november this year, what an experience to learn from! certainly taught me the value of saving for what you want not lending from people like them!!

anyway, last time i spoke to the the advisor was talking about an early settlement, blah blah, this plus that minus any rebate from your insurance,,,,,,, im then like huh, i dont have any insurance, now it could have been that he was just saying what he always says or it may be more sinister, and i have ppi on this loan that i dont know about???

i dont have or cant find any copies of an agreement so i presume i need to send them a sar request?

also after reading through on hear i have learned about welcome putting charges on for telephone calls or letters etc, i used to have a call from them every month as 'acoount advice' im now imagining ive been billed for each of these unwittingly?
will these charges be detailed on the sar too?

thanks for your advice in advance

tim

Hi Tim and welcome (no pun intended lol).:D

If you request a full Subject Access request (SAR), this will cost the one off £10 cheque or postal order, they have 40 calendar days to comply.

However, you could try ringing to find out if there is PPI.

Are you also aware that Welcome are in default and reclaims are being dealt with by the Financial compensation scheme (fscs), more info on the link below.
(Was it actually Welcome Finance) that set up and sold you the loan? if so then it would have been them to pursue, so if you do have a case you will have to go through the FSCS and request they send you a claim form.
But........this will of course depend on what year you taken out the loan, the FSCS just like the Financial ombudsman service (FOS) are only able to deal with them if they were regulated when you taken out the loan, by the FSA, but otherwise you can contact the FOS and ask on your best direction to take with this, they normally suggest the underwriter/insurer avenue if your not able to make a reclaim through the FSCS.

FSCS details about Welcome here.......

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

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

SAR letter template if required, but is optional, the lender will confirm if any ppi or not.

https://forums.moneysavingexpert.com/discussion/1475553

Hope this helps.

Good luck.