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Reclaim from Welcome Finance ?

Hendorator
Posts: 2 Newbie
Hi all,
I'm new on here, first post so forgive me if this topic has been discussed before.
i reclaimed PPI from old loans a few years ago and was successful, however when I was claiming I was told by the company I used (can't think of the name at the moment, it'll come back to me though soon) that they were not able to claim back from Welcome finance, I can't remember what the reason for this was though.
Can anyone advise if this is the case or should I try and claim back from them ?
i had a couple of loans with them probably about 8 or 9 years ago ?
Any advise is greatly appreciated.
Cheers
Chris
BasicReminder.com
I'm new on here, first post so forgive me if this topic has been discussed before.
i reclaimed PPI from old loans a few years ago and was successful, however when I was claiming I was told by the company I used (can't think of the name at the moment, it'll come back to me though soon) that they were not able to claim back from Welcome finance, I can't remember what the reason for this was though.
Can anyone advise if this is the case or should I try and claim back from them ?
i had a couple of loans with them probably about 8 or 9 years ago ?
Any advise is greatly appreciated.
Cheers
Chris
BasicReminder.com
0
Comments
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Welcome weren't regulated before 2005 I think....Do a search on th main forum for Welcome and check out Amersalls posts.Non me fac calcitrare tuum culi0
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taff is right.
If the loan was pre 2005 you cannot make a claim as they were not regulated.
Some have tried the insurer route but this may not get you anywhere either.
It is First Plus that I champion in taff, more than Welcome
Same rip off PPI though0 -
Thanks guys,
I'm not 100% sure when i had the loans. Was a long time ago of that I do know.
Whats the best way to go about finding out ?
I have e-mailed their complaints address requesting the information so hopefully they will be able to assist although i don't hold out much hope.
cheers
Chris0 -
Didn't Welcome end up in default and the FSCS take on their complaints? In which case, 2005 is a key date as the FSCS wont consider pre-regulation sales.
http://www.fscs.org.uk/what-we-cover/questions-and-answers/qas-for-welcome-financial-hn0qripj/I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
On the FSCS site it says if it was pre 2005 you have to complain directly to Welcome! I have done this through there complaints procedure, I am not sure if they pay out this way!0
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taff is right.
If the loan was pre 2005 you cannot make a claim as they were not regulated.
Some have tried the insurer route but this may not get you anywhere either.
It is First Plus that I champion in taff, more than Welcome
Same rip off PPI though
Having just come off the phone with a member of there complaints team, I have just found out that anyone with a loan between 27th of February 2003 to the 31st of December 2004 can actually put a claim and if successful they will pay out!!
A very nice chap I spoke to told me that a rather large fund had been kept a side to repay people between these dates. All my three loans were in this period...fingers crossed!!0
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