PPI Refund

scoops82

Hi


My GF has an old debt with Welcome Finance which has now been sold onto another company.


She is not sure if she has paid PPI or not.


Does anyone know what she would need to do to find out and if so how long does it take for a case to be settled?


Thanks
S

amersall

If this loan was taken out before 14th January 2005 they were not regulated and (if) she had PPI and was mis sold, she may not get anywhere.
If it was taken out after that date, contact Welcome and ask for info, they may just tell her and then put a claim into FSCS.
http://www.fscs.org.uk/contact-us/

She will need reasons for mis sell.

McKneff

If she indeed is successful in a refund, it will be taken off the debt anyway so she may get absolutely nothing.


Does she really want to muddy the waters.

jellie

amersall wrote: »

If this loan was taken out before 14th January 2005 they were not regulated and (if) she had PPI and was mis sold, she may not get anywhere.
If it was taken out after that date, contact Welcome and ask for info, they may just tell her and then put a claim into FSCS.
http://www.fscs.org.uk/contact-us/

She will need reasons for mis sell.

Welcome came under GISC, so will go back to February 2003.

OP - ring them up and ask if she took out PPI.

scoops82

Will do but I know that Welcome has since gone bust and the debt has moved to another company (not sure who) would they have all the records or just from when they took over the debt?


From what I have read from previous posters there is no doubt that Welcome would have added PPI to the debt, among other fees - just not sure when it was taken out but I would imagine it was after 2005.


Mckneff - I'm not sure I understand your muddying the water quote - surely having the PPI removed from the debt is better than paying for it still? I'm not trying to be rude I just wanted to make sure I wasn't missing anything.

jellie

The new company won't deal with a PPI mis-sale complaint, as they didn't sell it.

Welcome are still there just no longer lending, so ring and ask them.

If your gf is paying the loan back then it's worth putting in a mis-sale complaint as her balance will be reduced. If she isn't paying, she might be better off keeping her head down and hoping they don't find her (I'm not condoning failing to pay back debts).

scoops82

Thanks - She is pay £50 per month as that's all she has left but if she can get it reduced by claiming PPI then surely that's a good thing?


That's as well as trying to get any early settlement figure!

jellie

Yes, if she's paying it back, she might as well see if she can get it reduced.