Welcome financial services/welcome finance ppi question help please

Hurlock

I took out a Secured Loan in November 2003 with the above mentioned and on checking my copy of Credit Agreement recently, I noticed that an PPI amount of £2,142.43 had been added to my loan in which I was told at the time that it was required.

To cut a long story short I recently contacted Welcome Finance requesting the PPI policy details, in which they have now responded to as follows :-

"The policy number for your PPI is 101***** and it was underwritten by Norwich Union. Unfortunately this policy expired on 01/12/2008 and you therefore you would be unable to make any claims at this time."

I remember never receiving any original policy details or ever receiving any information confirming this.

Has anyone else received this kind of response ? And if so is this correct or is there anything I can do to pursue the matter further or am I wasting my time ?

The loan is still running and I also have other ongoing disputes regarding charges etc in which I will post up later on a different thread but just wanted to address the PPI issue first, so any advice or help would be appreciated

dunstonh

Has anyone else received this kind of response ?

I think your problem is that they have interpreted your communication as you wanting to claim on the policy. As the policy is no longer in force, you cannot claim on the policy.

And if so is this correct or is there anything I can do to pursue the matter further or am I wasting my time ?

You cannot claim on the policy if it is no longer in force. However, if you want to complain about the policy you can do that. A complaint is not a claim. You will have issues with a complaint (pre-regulation could be one if a broker was used and Welcome Finance has issues as well which would prevent access to the FSCS if yours falls under that side of things).

Hurlock

Thanks dunstonh for your reply and that explains it and makes it clearer now.

As you state I do not wish to make a claim on the policy but just want to submit a PPI re-claim due to mis-selling.

Sorry to ask but would you recommend that I submit the standard PPI re-claim template letter stating reasons or should I now submit a £10 SAR letter ?

I am not really an expert in this sort of thing so apologies for not knowing but any further advice would be very much appreciated.

And thanks again

dunstonh

You dont need to do a DSAR if you know you had PPI. A DSAR wont aid a complaint. It will just let you know you had it or not. You know. So, dont waste £10.

Go straight to complaint giving your reasons.

Hurlock

Many thanks again and very much appreciated and will just do that

-taff

Bear in mind if it was taken out pre 2003, your chances of redress are almost zero. There's a slim chance after that, rising to a much better one after Jan 2005.

jellie

Download a copy of the FOS PPI questionnaire, fill it in and send it to their Mere Way address.

jellie

-taff wrote: »

Bear in mind if it was taken out pre 2003, your chances of redress are almost zero. There's a slim chance after that, rising to a much better one after Jan 2005.

OP says November 2003, so should be ok (unless broker sold of course).

Hurlock

Ok many thanks again I will fill out a FOS PPI Questionnaire and give it a go. Also loan was not sold by a broker.

My original correspondence came from Slough, will I need to forward details to there or Mere Way Nottingham ?

jellie

No send it to Mere Way, it might get lost if you send it to anywhere else.

They'll send you an acknowledgement letter once they've got it - should be about 5 working days, but allow for postage time there and back.

Hurlock

Thank-you again Jellie and will send accordingly.