Help! Welcome Car Finance

Labanb

OK, so I used a 3rd party company to reclaim PPI from Welcome Car Finance. I got a phine call to say that the FCSC ahd agreed that I was owed £425 (minus £150 charges for the 3rd party comp.).
However, as WCF was claiming that I owed them a total of £996 that with the £425 removed I still owed them £571.
I pointed out that I had paid upto date when I returned the car, and that WCF stated originally that the £996 was for "insurance". So I was rejecting the offer of £425 as the £996 that WCF were claiming was all PPI!.
I was toild the caller would get back to me. That was over two months ago.
I have just contacted the 3rd party to be told "[FONT=&quot]I have reviewed the case notes and would advise that we were aware that the refund was being offset by the lender and have ceased further action on the case for this reason after discussions with one of our directors."

1) How can WCF offset a refund against[/FONT] what is in reality the full amount of PPI?
2) How do I claim for the full amount against WCF?

Cheers

Bill

-taff

You say what you said above to the FSCS and you prove it with documents.

amersall

They should have compensated for the whole PPI, you then give the surplus to Welcome to clear the loan.
What was the original PPI amount?.

Labanb

Hi, cheers, waiting for ABC to return docs.
The original claim by WCF was £996, after I ahd paid uptodate and returned the car.

Bill

-taff

when you say you returned the car, did you return the car after you had completely paid for it or did you return it with money owing on it?

jellie

Are you sure that the £996 was all for PPI, and you didn't also have GAP and/or mechanical breakdown?

jellie

-taff wrote: »

when you say you returned the car, did you return the car after you had completely paid for it or did you return it with money owing on it?

From what OP said in their first post, it looks like they voluntarily terminated the agreement.

-taff

so they probably didn't pay all of the original ppi amount then?

amersall

Labanb wrote: »

OK, so I used a 3rd party company to reclaim PPI from Welcome Car Finance. I got a phine call to say that the FCSC ahd agreed that I was owed £425 (minus £150 charges for the 3rd party comp.).
However, as WCF was claiming that I owed them a total of £996 that with the £425 removed I still owed them £571.
I pointed out that I had paid upto date when I returned the car, and that WCF stated originally that the £996 was for "insurance". So I was rejecting the offer of £425 as the £996 that WCF were claiming was all PPI!.
I was toild the caller would get back to me. That was over two months ago.
I have just contacted the 3rd party to be told "[FONT=&quot]I have reviewed the case notes and would advise that we were aware that the refund was being offset by the lender and have ceased further action on the case for this reason after discussions with one of our directors."

1) How can WCF offset a refund against[/FONT] what is in reality the full amount of PPI?
2) How do I claim for the full amount against WCF?

Cheers

Bill

What year did you take this loan out?.
Did you buy the car through a dealer?.
What figures did the FSCS give you in the calculation?.
What was the loan term?.
When did you return the car?.

You should have the actual PPI back that you paid and the interest that was on there.

Labanb

Hi,
What year did you take this loan out?. 2007.
Did you buy the car through a dealer?. Bought direct from Welcome car Finace in East Boldon.
What figures did the FSCS give you in the calculation?. They haven't. Used ABC management.
What was the loan term?. 4 years. Returned after 2, with all the premiums paid up to that date as per the laws governing HP.
When did you return the car?. About 4 years ago.

Bill

Labanb

-taff wrote: »

so they probably didn't pay all of the original ppi amount then?

I paid ALL of the premiums up to the date of return which was half way through the contract. UK law allows for the return of vehicles so long as 50% of the contract has been paid and the car is returned in reasonable condition.

Also WCF stated that the £996 was for "insurance", and not any other payments.

Bill