Welcome Finance PPI

ADIE2805

Hi All,

My partner as had her claim for mis-sold PPI against Welcome Finance rejected. However, before she escalates it to the FSO can someone explain what this paragraph means on her reply.

'In addition, I regret to inform you that as your account was not open as of 6th April 2008, you cannot complain about an unfair relationship due to undisclosed commission in line with the Financial Conduct Authority Policy Statement PS17/3, issued in March 2017. I have enclosed a copy of the transaction history showing the start and end date of account 1234567 along with this letter as evidence.'

Many thanks in advance.

brettcta

It’s a Plevin rejection paragraph because the product isn’t within Plevin timescales

ADIE2805

Thanks brettcta :beer:

So just to confirm she carries on with the complaint to the FSO?

SonOf

Have Welcome said that she has access to the FOS in the rejection letter?

Some Welcome loans do not due to the date they were taken out?
Was the rejection reason because they didnt sell the PPI? (a lot of their loans were arranged via third parties and Welcome dont have liability for those)

The FOS is there to be an independent arbiter of complaints. It cannot and will not overturn a valid rejection reason. Hence my questions above. Plus, it is worth noting that the overturn rate on PPI complaints has fallen as low as 20% in recent times. So, don't be hopefull on success unless you can clearly see a technical error by Welcome.

ADIE2805

Hi SonOf,

Yes Welcome have said she can refer it to the FOS.

Her main complaint centered around having been told to take out PPI or no loan.
Unfortunately the complaints handler rejected this claim.

SonOf

Her main complaint centered around having been told to take out PPI or no loan.

That is a weak complaint. It is unlikely there is any evidence to suggest that was said. Is there any stronger complaint reasons?

antrobus

I thought Welcome Financial Services Limited was a FSCS job;
https://www.fscs.org.uk/failed-firms/welcome/

ADIE2805

So being forced to take out PPI is a weak complaint!

I would of thought being forced is mis-selling at it's worst?

SonOf

ADIE2805 wrote: »

So being forced to take out PPI is a weak complaint!

I would of thought being forced is mis-selling at it's worst?

You are making an allegation of wrongdoing. They investigate your allegation of wrongdoing. However, it appears they have found no evidence to support your allegation. What evidence did your partner provide to support the allegation?

Virtually all complaints make the same allegation. Even the 50% that never had PPI at all say they were forced to have it.

Without any evidence to support the allegation, that complaint reason usually fails. It is then assessed for suitability and a decision made on that basis.

Not all complaint reasons are equal. Some are weak. Some are strong. Some reasons rarely have any success on that particular point and "being told you had to have it" is one of those.

ADIE2805

So going to the FOS would be pointless then?

jellie

antrobus wrote: »

I thought Welcome Financial Services Limited was a FSCS job;
https://www.fscs.org.uk/failed-firms/welcome/

Only for PPI sold after 14 Jan 2005. Before that, from 26 Feb 2003, Welcome came under GISC so deal with those complaints themselves.