Welcome PPI

sonofnesbit

Hi all, firstly, an apology, never a good start huh, still here goes.
Ive got a claim against Welcome Finance for mis-sold PPI, but, during a moment of weakness I instructed a company to claim on my behalf. I know, I know, I did say sorry. My problem is this, I've received a form to fill in regarding my claim from FSCS and in it they state that WFS can offset any monies owed against arrears, (of which there are some), which could be probably more than I may get back. What happens to the % I will owe to the third party company who did my claim for me?
It amuses me, in a sick kind of way that if they use all the money to pay off owed monies I could end up worse off by claiming, as I will have to pay the third party company their share.

Thanks

Nearlyold

You will have to pay the Claims Company their share, however they should have pointed out this to you before taking on your case, if they didn't you have grounds for a complaint against them . When did you appoint the Claims Company?

jellie

sonofnesbit wrote: »

My problem is this, I've received a form to fill in regarding my claim from FSCS and in it they state that WFS can offset any monies owed against arrears, (of which there are some), which could be probably more than I may get back.

It's not just against arrears, it's against your whole balance. If you owe Welcome money, FSCS will use set off, whether in you're in arrears or not.

If the CMC say they still want their %, I'd complain and then go to the Legal Ombudsman. CMCs should know by now that FSCS will set off, so they may well leave their customers in a worse position.

sonofnesbit

Hi, Thanks for the replies.
I appointed them at the start of my claim, a couple of months ago. I have filled in the claim form sent to me by FSCS on behalf of WFS through Gladstone Brookes but as yet I have not returned it. If I dont return it then the claim wont go through and I wont have to pay GB, is this correct?

jellie

You'd need to read your contract with GB to see what you agreed to with them. But it's definitely the case that if you don't return your FSCS form, they won't do anything (except mayabe send you reminders, but you can ignore them).

maggy50

Even if you go ahead any off set may not cover any outstanding balance and Welcome Finance will expect any outstanding arrears paid .
I would not send the F'S CS forms with a CMC involved.

-taff

see if there are penalties for cancelling your contract and if there aren't, cancel it.
Do a search on this forum for posts by magpiecottage.
There are a few detaling how to complain if they didn't tell you that if you still owed money, the money could be used first to pay a debt outstanding and you would still have to find the money to pay the cmc.