First Plus/Welcome Finance PPI Claim

jadlgw

I have just had a response back from First Plus, their response was not a surprise, they said they would not investigate the claim as the original loan was arranged through a broker, Dial4aLoan ltd, (no longer trading) however, First Plus have told me to take up my complaint with Welcome Finance, they have provided me with all the contact details for Welcome Finance and stated that this is their final response. They have also enclosed a copy of the original application form, which doesn't have either Dial4aLoan or Welcome Finance details on it. All that is on the application form are our details, reason for loan application and financial details, no repayment details and no details of PPI, not even a box to tick. This application was for a no obligation loan quote. The agreement form is from First Plus, our details have been filled in by someone else and the PPI box ticked, when we queried this before signing were told by First Plus that it was not optional and we couldn't have the loan without it but we would get all the money back after 5 years.

We have never had any dealings with Welcome Finance and all the paperwork and signed agreements are on First Plus literature.

Do I now send a new complaint off to Welcome Finance? Has anyone else claimed PPI from First Plus via Welcome Finance?

Thanks in advance for your assistance.

di3004

Hi there

What year was the loan taken out?
If the broker who set the application up were WF, and if it was sold to you after 14 Jan 2005, you can make the reclaim through the Financial compensation scheme (FSCS).

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

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

Maybe WF taken over all liabilities of dial4aloan, not sure, but to make a reclaim through the FSCS you would have to contact them in order for them to send you form to complete.

You will probably find that the majority of your paperwork if any will be those of the lender, so I guess the lender was first plus, who lent the money, and they taken the monthly repayments.

But usually whoever sold and set up the loan are the one's you pursue.

Hope this helps, good luck.

jadlgw

Loan taken out end of 2003

I just wonder whether I should go back to First Plus, or now put in a claim to Welcome, although I am sure they will tell me it's nothing to do with them.

Just need to know my next move:(

di3004

jadlgw wrote: »

Loan taken out end of 2003

I just wonder whether I should go back to First Plus, or now put in a claim to Welcome, although I am sure they will tell me it's nothing to do with them.

Just need to know my next move:(

Hi there

Sorry for the delay in responding.

If it was WF who set the account up/selling the ppi, I and with the year it was taken out, I understand that the FSCS will not be able to deal with the matter.

If you are certain it was FP who set up and sold the account, and were not given the final decision, you can write back further if you want to, with further information.

Another suggestion is to contact the Financial ombudsman Service (FOS) and explain the situation, see what they suggest from here.
There is a free contact number on the FOS website.;)

lolpet

"XXXXX recently discovered that First Plus has, for at least 3 years, been ‘mis-directing’ PPI complaints. Clients of this firm, who had tried to make their own PPI complaint to FirstPlus had been told that the PPI was actually sold to them by a firm called Dial4aloan, and that their complaint couldn’t be sent to that entity as it had ceased trading. This was simply not true. A firm called Welcome Finance Ltd used to use the trading name Dial4aloan under licence from another completely separate firm called Dial4aloan LTD. Welcome Finance is in a special scheme of arrangement and it may well be very difficult to recover mis-sold PPI from this entity. HOWEVER, in two recent cases we have been involved in it transpired that the ACTUAL broker was Dial4aloan LTD, a firm that is still trading and still solvent. On 9th October 2013 First Plus agree to pay one of our clients £500 compensation for telling him, for 3 years, that his PPI was sold by a firm that had ceased trading, when that was NOT true! Now you know why First Plus don’t want consumers to use XXXXXXX