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Welcome Finance - PPI
davey.1978
Posts: 3 Newbie
Hello all,
Apologies for jumping straight-in with a new thread but I need some helpful advice.
Here goes...
I took out a Welcome Finance Personal Loan back in 2004 and paid the full outstanding amount back within four weeks.
Welcome have not provided me with the exact amount, but the loan was for £1500 and I paid back approximately £2200 within the four weeks.
As you can imagine, I was shocked at the time but had to pay regardless.
Anyway, I have sent off my complaint form to Welcome along with a letter of complaint which was processed on the 29th of April at their end.
To be honest, I didn't do much reading pre signing the complaint form but I was aware that paying back that amount within such a short period of time seemed harsh.
Welcome have admitted verbally that PPI was paid and that they are dealing with it.
The lady told me at the time that I would not be given the loan even though I was in full time employment and that I had to take out the PPI even thought the loan was to be paid back asap (it was for emergency transport), and all this was explained on the form.
How long is the average wait for a response?
Do I have a chance of succeeding?
As the loan was paid back so quickly, will this have a potential detrimental effect on the possible compensation package?
Many, many thanks,
Davey.
Apologies for jumping straight-in with a new thread but I need some helpful advice.
Here goes...
I took out a Welcome Finance Personal Loan back in 2004 and paid the full outstanding amount back within four weeks.
Welcome have not provided me with the exact amount, but the loan was for £1500 and I paid back approximately £2200 within the four weeks.
As you can imagine, I was shocked at the time but had to pay regardless.
Anyway, I have sent off my complaint form to Welcome along with a letter of complaint which was processed on the 29th of April at their end.
To be honest, I didn't do much reading pre signing the complaint form but I was aware that paying back that amount within such a short period of time seemed harsh.
Welcome have admitted verbally that PPI was paid and that they are dealing with it.
The lady told me at the time that I would not be given the loan even though I was in full time employment and that I had to take out the PPI even thought the loan was to be paid back asap (it was for emergency transport), and all this was explained on the form.
How long is the average wait for a response?
Do I have a chance of succeeding?
As the loan was paid back so quickly, will this have a potential detrimental effect on the possible compensation package?
Many, many thanks,
Davey.
0
Comments
-
This is not an admission of liability of course. It is not wrong to have insurance, it has to have been mis-sold to you.davey.1978 wrote: »
Welcome have admitted verbally that PPI was paid and that they are dealing with it.0 -
Moneyineptitude wrote: »This is not an admission of liability of course. It is not wrong to have insurance, it has to have been mis-sold to you.
Indeed.
In fact you might remember the branch, Stanley Rd, Bootle.
Nice one.0 -
I'm in the 'Pool, but I've never banked with Welcome nor frequented L20...:)davey.1978 wrote: »In fact you might remember the branch, Stanley Rd, Bootle.
The Bank have eight weeks to respond fully and finally.0 -
Moneyineptitude wrote: »I'm in the 'Pool, but I've never banked with Welcome nor frequented L20...:)
The Bank have eight weeks to respond fully and finally.
Haha.
I didn't think so.
Cheers.0
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