Welcome Finance & D.C.F

MrsLF

Hi all,

I have recently been in touch with Welcome Finance on behalf of my husband to try and claim back PPI he paid on a car loan. We have no paperwork relating to the loan and only know that the final payment made in was in February 2007 (we got this information from our online banking). Welcome Finance was able to confirm from the information we had that he did pay PPI and advised that we complete a PPI consumer questionnaire. We did this and have since received a letter from Welcome Finance stating the following …

“I have now had the opportunity to review our records regarding the above numbered policy. These show that the insurance policy was arranged by your broker, who according to our records was acting on your behalf in this matter. As we were not involved in any policy sale carried out by the broker, I cannot answer your complain. Your complaint should be made to the company that sold the policy. The address and telephone number is:

D.C.F (PILOT) - MANCHESTER
Whart Street
SK16 4JF

If the broker has ceased trading you should contact the Financial Services Compensation Scheme”

I have a couple of questions I’m hoping someone can help me with;

There was telephone number stated in the letter and I can find no record of the company online. Is there some way I can check if the company has ceased trading? I’ve had a search on the Companies House website but with no luck.

Should I go ahead and send an SAR to Welcome Finance along with a £10.00 cheque as we still have very little information with regard to the loan my husband took out or should I just go ahead and contact the Financial Services Compensation Scheme? I’m conscious that I only have 6 months to take my complaint to the FOS if necessary so don’t want to waste any time. I have already had the letter from Welcome Finance a month so have only 5 to go!

Many thanks in advance!

Cazzad_2

Hi Mrs LF,

I too had a car loan with Welcome Finance and they too sent me to a company that does not exist. I am going to court with them now. If you took out the loan before Jan'05 FSCC will not be able to help you. Go to Welcome for the loan agreement, but beware they will take forever, then go to the FOS.

di3004

Hi there

Whoever sold and set up the account/finance are the one's you pursue to make a ppi complaint.
The dealer then passes on the information to the lender, and the monthly repayments are made to the lender.

So if it was a car dealer that dealt with the sale of the finance, you would have to contact them.

Cazzad_2

Hi Di3004,

The car dealer would be doing the finance for and on behalf of Welcome Finance, which states on the HP Agreement, meaning should have to chase Welcome Finance for the PPI.

[Deleted User]

Cazzad wrote: »

The car dealer would be doing the finance for and on behalf of Welcome Finance, which states on the HP Agreement, meaning should have to chase Welcome Finance for the PPI.

Nonsense, only the seller can mis-sell. You pursue the car dealer.

pressandgo

As Welcome used brokers in the main to sell products, any success stories in claiming from them. I too tried to claim from Welcome only to be told to claim from a car loan company. Not sure of next step re calcualtinfg the amount to reclaim.

[Deleted User]

pressandgo wrote: »

Not sure of next step re calcualtinfg the amount to reclaim.

You don't reclaim a set amount. You complain of mis-selling (with accompanying evidence) and, if successful, you receive a full refund of the PPI you paid plus 8% simple interest.
If a Welcome used a broker to sell you the PPI, you complain to the broker (if they still exist).

pressandgo

Should this include the the FOS questionaire??

[Deleted User]

pressandgo wrote: »

Should this include the the FOS questionaire??

Absolutely. Go here;
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance