Welcome Finance PPI

thegaffer

hi I wonder if you can help me at all

I had a car loan through welcome and I remember them adding PPI (and they salesman telling me if i didn't take it out then I would not get the finance loan)

this was about 10 years ago.

However I don't have any agreements still- I mean who does from that far back.

My question is , can I still try and make my voice heard ?
My address is also different as moved since I had the agreement.

I know its a long shot but it was not fair them selling the PPI a=as i never needed it !

Thanks

fawd1

You should be able to. Here is the link to the FSCS website which tells you everything you need to know. First port of call would be to contact Welcome directly and ask for your account details, ideally an SAR, so that you can see exactly how much you were charged in PPI and interest. You would then add on the interest for the remaining years after you'd paid off the loan at 8%, but check that first. When you make your claim, don't forget to state why you were missold it. Good luck!

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

-taff

If you bought it prior to January 2005 you need to complain to welcome. If you bought it after January 2005, you complain to the FSCS.
I'm assuming you got this direct from welcome not from a car dealership?

thegaffer

thanks for that reply, Very Helpful

I will send a letter off, however as the policy was a while back pre 2005, will they still have my details anywhere ?
As I will need a copy of the agreement etc, Ive read on the threads i can request a copy (SAR) but i dont have any loan account numbers nor no of anyway to get hold of it ?

Im only asking as my loan was very high and I know thinking back the PPI was high, so frustrating that I could of been overpaying big time here.

I guess I need the policy number, so if anyone can suggest a way of getting that I would be so gratefull

Sorry if Im asking dumb questions here

[Deleted User]

thegaffer wrote: »

As I will need a copy of the agreement

You can't request the agreement on closed accounts, but frankly it doesn't aid your complaint in any way.
Send £10 and a Subject Access Request letter to Welcome to see what remains on file for you, but if the SAR returns no details of the loan in question then your complaint is over unless you can find comprehensive documentation in your own archive.

Do realise that if the loan was sold and arranged by a car dealer then it would be to them that you address your complaint.
Unfortunately, prior to January 2005 the car dealer wouldn't have been regulated and so won't have to consider any complaint.

-taff

You will have to complain direct to Welcome. The link to the FSCS site will tell you the same.
You can try sending them a SAR and £10 to see if there is any paperowrk left, but the chances are not great.If you can't get holdof paperwork, your complaint is over, and if it was pre 2003, they may reject it anyway.

See the front page for a SAR template letter - it's just basically asking them to give you everyhting they have on you, so give them as much information as you can including past addresses etc.

[Deleted User]

-taff wrote: »

You will have to complain direct to Welcome.

Only if the OP did not purchase through a car dealer...

boylesarah

HI, I wouldn't send off a SAR just yet as you may be wasting your money. I phoned Welcome and they were able to give me all my details including how much PPI I had paid. they will give you account details and everything. I was told to fill in and send an FOS form to them. that was just coming 8 weeks ago and have recieved a letter the other day upholding my claim! I was pre FSCS (?) so it was Welcome who dealt with my claim.

Hope this helps

[Deleted User]

boylesarah wrote: »

HI, I wouldn't send off a SAR just yet as you may be wasting your money.

I agree, especially as the OP may well have bought the insurance from a car dealer who was not regulated at the time.