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Welcome Finance question

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Hello,

I'm new here and was looking for any advice. Apologies if this is not the best place to post, I have not yet learned the ropes. Here goes:
I took out a secured loan with Welcome Finance in 2004 (I know, I was young and crazy). As a result of a couple of pretty massive catastrophes, I still have the loan, which was sold recently to an outfit called Coast Finance. It is due to end this summer, but will not be finished at the deadline.
The issue is, I was sold PPI without any buy-your-leave (apparently for a five year term at £60 a month) with the loan. I phoned welcome today and they say they will send me out a questionnaire in today's post. I first checked with the FSCS who checked if my name had been passed to them, even though it was pre-2005 and it hadn't. Has anyone any advice on whether compensation is a possibility etc or just any helpful asides?
Incidentally, Welcome do not ever appear to have registered security against my property.

Comments

  • -taff
    -taff Posts: 15,365 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    We don't know. If your paperwork has proof or if there is proof, you will be given redress by the FSCS but at [ I think now] 95% with no extra compensatory 8%.
    Non me fac calcitrare tuum culi
  • Welcome acknowledge that I have PPI and it was they who gave me the figure of the £60 payment over a five year term. Thanks very much for your help, fingers crossed. Nothing ventured, nothing gained.
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