Welcome Finance PPI Claim

Juliesam

Hi All

I appreciate this subject has probably be done to death but I think my situation is different. I had a joint loan with my ex-husband in 2003 which had a considerable amount of PPI attached to it (over half the value of the loan). I have recently tried to reclaim 50% of the PPI and have been told that since my ex-husband was the primary signatory on the loan, I didn't have a PPI policy and therefore have no claim. I can accept all of that apart from 1 minor detail - when he left in 2008 and moved back to Ireland I was left liable to repay all of our joint debts, which I have, with a lot of help from Stepchange. So my argument is this - If I wasn't covered by the PPI (as I was the 2nd signatory), how come, as a single mother with 4 children, I was liable to repay over £4000 and presumably I wouldn't have been able to make a claim on the PPI (since as the 2nd signatory I wasn't covered). I would like to think that somewhere in all of this mess I am owed something. The original loan was for £1000, we renewed the loan at a later date, this 2nd agreement also had PPI on it (loan amount £1900, PPI £995 plus medicare of £100) in total, when he left there was £4046 still owing. I broke my backside to pay them £50 a week after being threatened by their debt collectors and they were adding interest of £100 per month. I never received any payments of any kind from my ex, he had no contact with the children, he basically left the country and all of his responsibilities. Welcome have only ever been able to provide me with a copy of the loan agreement for the 2nd loan and they also have a loan agreement from 2008 when they apparently rewrote the loan, this agreement has never been signed by anyone and even has mine and my ex-husbands names spelt wrong. All in all I paid them back over £5000. Am I wasting my time looking for any kind of compensation from them, whether it's for mis-sold PPI or otherwise?

Nearlyold

So my argument is this - If I wasn't covered by the PPI (as I was the 2nd signatory), how come, as a single mother with 4 children, I was liable to repay over £4000 and presumably I wouldn't have been able to make a claim on the PPI (since as the 2nd signatory I wasn't covered).

Because the loan was joint but the PPI wasn't would be my guess. Your husband of course was also jointly liable for the debt but chose to ignore his responsibilities

[Deleted User]

Juliesam wrote: »

Am I wasting my time looking for any kind of compensation from them, whether it's for mis-sold PPI or otherwise?

Well, you are certainly not in line for "compensation" for anything at all.

Juliesam wrote: »

I would like to think that somewhere in all of this mess I am owed something.

You seem to believe Welcome are somehow responsible for your husband's desertion when they clearly aren't.

Sorry

dunstonh

I have recently tried to reclaim 50% of the PPI and have been told that since my ex-husband was the primary signatory on the loan, I didn't have a PPI policy and therefore have no claim.

You cant be refunded something you didnt have. Effectively, you jointly borrowed for your ex to have a policy. He could get a refund if the PPI was classed as missold.

So my argument is this - If I wasn't covered by the PPI (as I was the 2nd signatory), how come, as a single mother with 4 children, I was liable to repay over £4000 and presumably I wouldn't have been able to make a claim on the PPI (since as the 2nd signatory I wasn't covered).

You were not covered by PPI as you didnt have PPI.
Also, the PPI and the loan are two different things. A joint loan with single life PPI doesnt change the fact it was a joint loan.

All in all I paid them back over £5000.

If this was a reduced settlement arranged via stepchange then even if you had PPI and you complained and were successful, you wouldnt get the refund anyway. They can use it to set off against any amounts written off as part of an agreed settlement.

Am I wasting my time looking for any kind of compensation from them, whether it's for mis-sold PPI or otherwise?

Yes. Your ex shafted you but it doesnt mean that the lender has a liability. You didnt personally have a PPI policy and therefore you cant be refunded something you didnt have.

Juliesam

Thanks for your replies guys, i know my ex shafted me, thats why he's my ex �� I think I was hoping that I could claim from them for shafting me over too, I mean I could have also denied my responsibilities and made them persue him. I'll leave it. Thanks again