Welcome Finance PPI help

helpconfused

Hi, I need some advice on a claim I am persuing with Welcome Finance with regards to mis sold PPI. I took out my first loan on July 2003 for £1250 which had a single premium PPI policy added of £331.19. I was paying £112.48 per month until October 2004 when the loan was refinanced. It then became £2280.00 and the next premium PPI policy was £797.33 my payments were then £154.73 per month. The loan was settled early in May of 2005. I am trying to work out the total I will have paid on the 2 PPI policy's as both loans were settled early so I am assuming I won't have paid the full amount. My case for the mis-selling of the PPI was that at the time I was employed and any sick pay would have been in full for 6 months, I dont recall being asked any of these questions with regards to my employment when taking out the loan. Any advice would be .much appreciated. Thanks

dunstonh

You dont need to work out the amount. That will be done for you if your complaint is successful. Early settlement of a loan does usually result in a rebate of the PPI premium on a relatively pro-rata basis.

My case for the mis-selling of the PPI was that at the time I was employed and any sick pay would have been in full for 6 months, I dont recall being asked any of these questions with regards to my employment when taking out the loan.

Being employed is not a reason for mis-sale. It is actually verification that you are eligible. 6 months is not long for sickness benefits and if the PPI would pay out in addition to sickness benefits then its not usually an issue. However, there are likely to be other failings and given the high uphold rate they have, you should continue.

helpconfused

Thank you for the reply, I will await the outcome.