Welcome Finance PPI.....Aaaaarrrrrhhh!!

cerica72

Hanky_Panky wrote: »

Classic !!

Although they told me I had no PPI, after looking through my agreement it shows that I had credit protection insurance and PPI that has now come to light!!!!

I thought that it may of just been one of their tactics telling me I had no PPI when I did have!!!!!

cerica72

Apples2 wrote: »

You want to claim mis selling of ppi on loans which had no ppi?

I have now looked over my agreement and it does show that I had credit protection insurance and PPI which I never asked for!!

RMTOM44

Hello

After some advice if anybody can help. 11th of October received a letter from FCSC regarding ppi with welcome. I had car finance in 2005 for £6500 and a personal loan in 2006 for £11,100. both paid off . However did not realise i had ppi and thought all insurances on my loan was complusory. How long has people had to wait from sending forms off ?? and has anybody been rejected ???

they received the forms on the 14th october;)

Thanks for any help or advice..

cerica72

RMTOM44 wrote: »

Hello

After some advice if anybody can help. 11th of October received a letter from FCSC regarding ppi with welcome. I had car finance in 2005 for £6500 and a personal loan in 2006 for £11,100. both paid off . However did not realise i had ppi and thought all insurances on my loan was complusory. How long has people had to wait from sending forms off ?? and has anybody been rejected ???

they received the forms on the 14th october;)

Thanks for any help or advice..

Hi

A friend of mine at work applied about 5 weeks ago, filled in the form and received a payment showing "FSCS" in his bank account, he took a loan out for £2,000.00 with Welcome Finance and he ended up paying £6,000.00 in total, and welcome had told him he had to have PPI on the loan otherwise he would not be accepted. He received £2,500.00.

Hope this gives you a bit of an idea timewise.

RMTOM44

cerica72 wrote: »

Hi

A friend of mine at work applied about 5 weeks ago, filled in the form and received a payment showing "FSCS" in his bank account, he took a loan out for £2,000.00 with Welcome Finance and he ended up paying £6,000.00 in total, and welcome had told him he had to have PPI on the loan otherwise he would not be accepted. He received £2,500.00.

Hope this gives you a bit of an idea timewise.

Thank you .

I rang them today and they told me i wa at stage 3 of 5 ?? not to sure what this means . But normally i dont have any luck so hope they dont reject it .

Thank for the reply . they said about 8 weeks

Wayne_Laura

So I sent my SAR to WFS...
They replied within the 40 days, but failed to send a schedule of payments (which had explicitly been asked for in the SAR)

I sent another letter, pointing this out, and for them to send the missing information

It has now been over 40 days since that second letter, and I have received nothing

What are my next steps folks? Contact them again with legal threats, or contact another organisation such as the FO?

RMTOM44

Well rang welcome finance today to be told all the checks have been done and its now been passed to a manager to check and at the final stages.

Does anybody know what will happen from here ?? or how long ??

welcome finance are very reluctant to tell me anything

Thanks for all the help

:>)

charlie77_2

a little bit of advice would go down really well please.

i had a loan with welcome it started in July 2008 it was for £2000 and i topped it up by £600 about 6 months into it as i was struggling. It was due to end in July 2011 but i paid back extra each month about 1 year in and paid it off in March 2010.

I stupidly shredded the paperwork when it had been paid off. I did contact them today and was told i had no PPI on the account. Now i seem to remember when i was being set up for the account lots of extras being added, could it be that i had no PPI from Welcome? I can't believe they would say no over the phone if i did have it?

Has any been told that they didnt have it on their account only to find out they did?

Thanks in advance xx:j

Wayne_Laura

Well, for the sake of £10 and a 1st class stamp... Send them a SAR and specify that they must include all details of the agreement and a statement of account

Think carefully - Welcome were famous for the "You need to take PPI with us - it's a condition of us offering you a loan" - exactly what happened with me

sammy_s

Hi everyone, would be grateful for some help and advice, sorry if I'm repeating anything already on here,

I took out a secured loan 4 years ago for £15,000. With ppi, life insurance, acceptance fee and 1 monthly payment included total cost of credit was £18,218. Annual interest rate is 18.72% (I was young and stupid!!) and my contractual payments are £302 for 180 months, however I pay £320 to cover some arrears on the account which were paid a year ago but welcome finance have not amended the payments and i didn't ask them to. Despite having repaid at total of £14,928, my outstanding balance as of 15/01/2012 was £17,320.38.

I have just sent off a ppi questionaire for investigation and hopefully a refund. My questions are how much should i accept as being a reasonable refund? and if i have my loan recalculated what would be a reasonable figure? Also, will the fact that I have already paid a substantial amount of this loan be taken into account?

I'm not entirely sure of my rights and because i feel a little over whelmed and embarassed for accepting ridiculous tems, I'm at risk of accepting less than perhaps i'm due.

Any help/advice/guidance would be much appreciated.