PPI welcome finance

Strides88

I had a loan with welcome finance pre feb 2003. They declined my PPI claim and directed me to Aviva who then directed me to Bright Finance who no longer exist. The ombudsman and financial compensation have both said they can't help. Any advice..?

[Deleted User]

Your complaint is pre-regulation (january 2005). If you've had no luck pursuing the insurer, then your complaint is over as you cannot refer such to FOS

Sarros

Hi we have an active loan with Welcome Finance that was also arranged through Bright Finance. After doing some research on the internet it seems Bright Finance were declared in default (I think that is the correct term). Anyway we were sold PPI on the loan with WFS in 2008 which we have now raised a complaint about direct with WFS they have acknowledged our complaint and we have also had a 4 week holding letter saying they are still investigating, my question is will they pass onto the FSCS or will it have to come from us. I only ask as we have just received £1200 back via FSCS and WFS for a car loan in 2007 which was arranged by a broker? Do I wait to see if they respond with a decision or should I take it direct to FSCS just don't want to muddy the waters involving lots of different people. I am not in a massive hurry as hopefully they will uphold as my partner was self employed at the time and still is, the PPI was in his name on a joint loan. It was a single premium policy. Any advice appreciated. Thank you

amersall

WF will deal with this due to the year, if it has to be passed to the FSCS then they will do this.

jellie

Sarros wrote: »

Hi we have an active loan with Welcome Finance that was also arranged through Bright Finance. After doing some research on the internet it seems Bright Finance were declared in default (I think that is the correct term). Anyway we were sold PPI on the loan with WFS in 2008 which we have now raised a complaint about direct with WFS they have acknowledged our complaint and we have also had a 4 week holding letter saying they are still investigating, my question is will they pass onto the FSCS or will it have to come from us. I only ask as we have just received £1200 back via FSCS and WFS for a car loan in 2007 which was arranged by a broker? Do I wait to see if they respond with a decision or should I take it direct to FSCS just don't want to muddy the waters involving lots of different people. I am not in a massive hurry as hopefully they will uphold as my partner was self employed at the time and still is, the PPI was in his name on a joint loan. It was a single premium policy. Any advice appreciated. Thank you

Did you tell the FSCS that your car loan was arranged through a broker? You are asked on the form you completed to give details of the sale - you did sign the form to confirm all details are correct, and it is a legal document. It shouldn't have been dealt with under the FSCS/WFS scheme if it was sold by a broker.

The FSCS/WFS scheme looks at all eligible loans. Did the letter you received about your car loan include details of the Bright Finance loan as well? If not, FSCS won't pay it via the WFS scheme and you will need to raise it direct with them.

Sarros

jellie wrote: »

Did you tell the FSCS that your car loan was arranged through a broker? You are asked on the form you completed to give details of the sale - you did sign the form to confirm all details are correct, and it is a legal document. It shouldn't have been dealt with under the FSCS/WFS scheme if it was sold by a broker.

The FSCS/WFS scheme looks at all eligible loans. Did the letter you received about your car loan include details of the Bright Finance loan as well? If not, FSCS won't pay it via the WFS scheme and you will need to raise it direct with them.

Hi the claim for the car loan was started after receiving a letter direct from WFS advising we may have been mis sold PPI. I completed the form to the best of my knowledge at the time, believing they would have held all the information I also stated on the form that the information I provided was based on what details I could rememer). I have since found my original loan agreement with the name of what I assumed was a broker, it could have been a contact name at WFS or if it was a broker I am assuming they have since gone into default ceased trading, I cannot find their details anywhere on the web. No the letter did not mention Bright House loan this loan is still active. I will wait and see if they respond, they'll probably tell me to take it drect to FSCS. Thanks