Welcome financial services/welcome finance ppi question help please

chyna2009

Can l ask as you have won via welcome finance that l had taken a loan out in 2005 and their offered me 2,084.00 but has deducted 1,205.33 stating that it is a balance adjustment and only giving me a 874.67. Whats does this mean.

" return payments that you have already made - Cash element £ 874.67/ will adjust any open account to remove any element of pp from the outstanding balance. This will ensure that you will not have to make any further payments for ppi" Confused.

Please can you explain as the other loan l do not have papers for and having ppi on that also.

amersall

How much was the original PPI amount?, have you been paying this since 05 and is the account still open.

If this loan is still running they will remove the total PPI amount and your payment will reduce by the PPI monthly amount, you will get back the PPI you have paid ( looks like they taken the whole PPI and then taken the remainder of the PPI back that you have not paid yet .

Hurlock

chyna2009 wrote: »

Can l ask as you have won via welcome finance that l had taken a loan out in 2005 and their offered me 2,084.00 but has deducted 1,205.33 stating that it is a balance adjustment and only giving me a 874.67. Whats does this mean.

" return payments that you have already made - Cash element £ 874.67/ will adjust any open account to remove any element of pp from the outstanding balance. This will ensure that you will not have to make any further payments for ppi" Confused.

Please can you explain as the other loan l do not have papers for and having ppi on that also.

Hi, I have just received a letter today advising that they are still investigating and that they will respond within 8 weeks of my original complaint, so therefore still waiting on figure if offered.

Will post up once a decision has been received.

Hurlock

Hurlock wrote: »

Hi, I have just received a letter today advising that they are still investigating and that they will respond within 8 weeks of my original complaint, so therefore still waiting on figure if offered.

Will post up once a decision has been received.

Well when I thought everything was progressing well with my complaint, I now today received a letter and another questionnaire to be completed from dial4 A Loan ?

I spoke to Welcome Finance Complaints dept and they advised that complaint has now been passed to the broker ? Does anyone know if this is correct or experienced the same thing ?

Is it just another stalling tactic by Welcome ?

amersall

This is normal if Dial4 sold you the loan and PPI, see what they come back with.

Hurlock

amersall wrote: »

This is normal if Dial4 sold you the loan and PPI, see what they come back with.

Thanks Amersall

Sorry that's why I'm asking as do not remember Dial4 selling me the loan and cannot trace any details from them ???:(

All my correspondences are from Welcome ?

Sarros

Hi I had a similar situation with Welcome. I made my misold complaint to them. They replied saying we were sold the Ppi by the broker (Bright Finance) who arranged the loan and we needed to complain to them. As Bright Finance no longer exist we ended up going to FSCS. As we needed certain information about the sale for our complaint as requested by FSCS we phoned Welcome and they sent us all the informaton they had on the set up of the loan. Our complaint was upheld by FSCS and we received just short of £6000 back. Might be worth finding out if Dial 4 loan are still trading. Hope you are successful.

Hurlock

Sarros wrote: »

Hi I had a similar situation with Welcome. I made my misold complaint to them. They replied saying we were sold the Ppi by the broker (Bright Finance) who arranged the loan and we needed to complain to them. As Bright Finance no longer exist we ended up going to FSCS. As we needed certain information about the sale for our complaint as requested by FSCS we phoned Welcome and they sent us all the informaton they had on the set up of the loan. Our complaint was upheld by FSCS and we received just short of £6000 back. Might be worth finding out if Dial 4 loan are still trading. Hope you are successful.

Thanks Sarros, may I ask when you took out the original loan with Bright Finance ?

Do you have contact details for the FSCS ?

Sarros

Hi our loan was taken out in 2008.

The contact number for FSCS is 0800 678 1100 or 020 7741 4100. The FSCS can only help if the broker who sold you the ppi are in default in your case this sounds like Dial 4 loan. You can check this on the FSCS homepage, there is a search facility there, also the loan needs to have been taken out after 14th Jan 2005. It might be worth completing the form you have been sent and asking Welcome for all the info they have on when the loan and ppi were set up/taken out. Hope you get sorted.

Hurlock

Sarros wrote: »

Hi our loan was taken out in 2008.

The contact number for FSCS is 0800 678 1100 or 020 7741 4100. The FSCS can only help if the broker who sold you the ppi are in default in your case this sounds like Dial 4 loan. You can check this on the FSCS homepage, there is a search facility there, also the loan needs to have been taken out after 14th Jan 2005. It might be worth completing the form you have been sent and asking Welcome for all the info they have on when the loan and ppi were set up/taken out. Hope you get sorted.

Thanks again Sarros and my loan was taken out in 2003. Ive now been referred to the broker (dial4 a loan) by welcome in which I have now submitted complaint details to. Fingers crossed.