welcome finance ppi help please

[Deleted User]

You can put in a complaint and any redress will be offset against the arrears, so you will owe less.

antrobus

Welcome Finance PPI

https://www.fscs.org.uk/what-we-cover/questions-and-answers/qas-for-welcome-financial-hn0qripj/

[Deleted User]

Marco01 wrote: »

If I am owed any money will they offset it against the arrears?

You are not "owed" any money. If you want a refund, you will need to show the insurance was mis-sold to you.

As you appear to already suspect, any redress awarded will of course be offset against monies you failed to pay them when you "forgot all about it"

Marco01

Thanks for the replies most helpful!

Jerico9

I've been wondering about this and welcome finance. I had a couple of loans from them in the early 2000's on my 2nd loan I missed a payment due to being off ill it was a mental health issue. I didn't know I had any kind of insurance on it as they just throw numbers at you. I remember telling him and he was like no, don't say that, you should have said it's your back. You automatically have insurance on all your loans. He said he couldn't do anything as I've stated it was mental health and I'd have to pay and pay the late fees. I struggled for 6 months to pay but was paying the fees not the loan in the end, I left work and refused to pay. I know that debt became statue barred in 2008. From memory I got 3000 and had already paid just under 5 back with another 1000 to go approximately. I had a loan for 4000 before that one. I paid approximately 7500 back on that and it was the PPI which made it so high. I was never given the option not to have it. Welcome finance was known for being cowboys.
So a couple of questions?
1, I have no paperwork, references or account numbers, plus they were in my old name.
Can I still make the claim?
2, like I said, I refused to pay the rest of my loan back due to the PPI and amount I'd already paid back.
Will I still get the PPI I paid back or will it go towards the debt I never paid? Despite the debt being satisfied due to statue barred?
3, I did have other loans and credit cards around that time, I don't know who with, how much or if I paid them. I do know they're all statue barred if I didn't. Plus they were all in my former surname.
This is why I've not looked at it but with the new ruling that anyone with PPI was missold regardless and don't need to prove it. I'm thinking it might be worth the work to do it, I just don't know how.
Sorry for the long post 😂 any help would be great. Thanks

dunstonh

1, I have no paperwork, references or account numbers, plus they were in my old name.
Can I still make the claim?

Yes. However, if your complaint is successful, they dont have to pay you anything as you defaulted. They can set it off against the unpaid debt.

Despite the debt being satisfied due to statue barred?

The debt still exists. Statute barring just means they cannot use the courts to get you to pay it. They can use the redress against it though.

Both fair and logical and within the rules.

3, I did have other loans and credit cards around that time, I don't know who with, how much or if I paid them. I do know they're all statue barred if I didn't. Plus they were all in my former surname.

same will apply to them.

ut with the new ruling that anyone with PPI was missold regardless and don't need to prove it.

There is no such ruling.

Nasqueron

Jerico9 wrote: »

but with the new ruling that anyone with PPI was missold regardless and don't need to prove it. I'm thinking it might be worth the work to do it, I just don't know how.

There is no such ruling. You are possibly getting mixed up with the Plevin case which can be looked at with all PPI complaints but almost certainly will not apply to you given the dates and it doesn't mean what you think it does. It simply means a rejected complaint may be entitled to some redress depending on the PPI commission not that the policy was automatically miss-sold.

As Dunstonh says, any refund would be offset against unpaid debt.