Welcome Finance/FSCS

glav

I submitted a claim to Welcome Finance in Sept 2011 for mis-sold Lifecare and Medicare Insurance policies. I have had 4 loans since 2005 with WF, most recent one still running with small balance remaining. I had 3 different Lifecare policies and one Medicare policy, all front loaded to the loans, so therefore I am still paying a proportionate amount on each of these to this day. Using a spreadsheet I have calculated that I have paid almost £1500 in insurance over the years, plus £2198 in contractual interest charged at an average of the rate WF has charged me.

I was redirected to FSCS and eventually received an outcome after months of them tellling me that these policies were not PPI. However, they have awarded me just over £1300, less their 10%, so refunded me £1174 in total. I am not happy with this at all as it is a far cry from what I have been charged over the years and seems like nothing more than a token payment to me.

Welcome Finance continue to take my monthly payment so my question is can I progress to small claims court to claim from Welcome what I believe is rightfully mine?