Mis-sold ppi v welcome

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hi guys im tryin to help my daughtetr get her ppi back off Welcome, she got a car off them last August and has been payin £302 per month.
shes sent the cca off and got the details back but shes told them she wants the ppi cancelled as it was mis-sold, her partner had only been in work for 3mths when they got car.To my mind this is been mis-sold am I right?
Could someone please just take a quick look if I scan it and advise me as to what she cann claim back re her ppi. Shes been payong it since 31st Aug
any help would be appreciated

thanx

regards

[Todge]

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Read the terms and conditions very carefully. Read also anything affecting the ability to make a claim. Scan through the 'Welcome'/PPI threads to get a good grip of the issues.

If ANYTHING material to your circumstances has not been addressed during the underwriting stage of the policy, then you may have reason to ask for a full refund.

Perhaps consider a PPI S.A.R - (Subject Access Request) to get things moving?

Also, take a look at the 'PPI questionnaire' on the Oasis site :
http://www.missoldppi.co.uk/PPI%20fo...b2%20(231).pdf

HTH,
T.

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Thanks for the advice todge.
Ill go read up some more then

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Well to date my daughter has heard all the excuses under the sun I think.

Welcome promised to look into it for her .She was clearly mis-sold ppi her partner was only in work for 3mths prior to taking out car-finance with them and that fact is down in black and white on one of the forms she had to fill in.
She sent the Prelim , the LBA and held numerous phone conversations with them (local branch).

The helpful young man told her "Yes we will take the PPi off for you ,but you will need to sign another contract withus as the original one is PRO-RATA and we wont be able to do it otherwise".

I advisedher not to do this as I wouldnt trust them , they might add more cost on to it to cover their loss.

Then the nice man (her description, NOT mine) told her he was working all out for her to see if he could refund her the amount she has already paid. (YEA SURE) Next he told her they had taken nearly £2000 off the total amount payable and she would hopefully get a cheque soon for the monies paid. (YAWN)

Ok so having done that he rings her tonight and tells her that the amount has been taken off , , BUT, no refund GRRRRR

The reason , He cant find any justification that they were mis-sold the policy, deems it a gesture of goodwill on their part . DOH!

I dont think so. I am more determined than her now to get her money back shes had so much messin with them that she says not going to bother ,Yea like ill let her do that.

These firms make me sick if they cant train their staff properly to make sure they know the regulations about PPi then they should not be in business.
She was bullied into getting it in the first place and told that as they were "HIGH RISK" it was acase of no ppi no loan. This to my mind is a definite NO NO.
Why do they have to tell you one thing then renage on it and do something completely different.
Im gonna read up an all i can now and see if there is a definate way to get her money back. Why should they be allowed to keep it.
I dont know if she could take this to court like she could if it were a bank are the proceedures the same ? . Im not too sure how she would start a claim off against them but Im sure as hell gonna find out if it takes an age.

These firms must stand up to the plate and now be counted

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Hi
just to update a wee bit. Today they, WElcome, rang my daughter and informed her that they had cancelled all of the PPI and taken it off her balance AND will reduce her monthly payments from £302 pm to £200 pm. BUT, she needs to sign another agreement and the years left to run on it will be reduced also.

I still smell a rat. Am i right in thinking that she should still get the money that she has paid off the PPI regardless of them cancelling the balance. She has paid just on 12 mths. The agreement was for 4 yrs so I think they may try and " reduce " it to 3yrs.Or am i being nasty minded. Thats the way these firms make you , suspicious of everything.

They told her that they couldnt do this for her as something about PRO-RATA and yet now they have changed their minds yet again.

Told her she will receive a letter off theirselves tomorrow explaining exactly what they have done and telling her when to go in to sign the new contract.

Im trying to persuade her to complain to the Ombudsman about them but ill have to keep naggin her I think.

Oh well .Lets see what tomorrows little gem says eh.

regards

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well the "letter" from Welcome came today as promised.
They have taken £3,050.00 off the total finance for her but told her the payments will have to stay the same, £302.00 pm. for 3yrs.
The balance left to pay now is £11,000 and odd. So in my opinion they have done nothing for her really as shes already paid nearly a year off yet they dont seem to have taken her payments into account.

They are a right scally lot , must think we are stupid. I know its not the reps fault really , they are only doing their job , but, come on . Even an idiot could see through them.
They have told her they have done this for her as a GOGW. If this is their goodwill I would hate to see their wrong side then. How do the big cats sleep at night, knowing that they are robbing people left right and centre.
Cant even check up to see whether the Norwich Union really did do the underwriting or if they (Welcome) just put X amount on the agreement and if it got paid the proceeds would fall into their laps. The policy ,I think ,does not really exist (ppi) .I think they knowingly mis-sell and "when and if" the possibility of someone acctually trying to make a genuine claim arises then they make the excuse "Oh sorry, you dont seem to be covered for that, ( whatever that is ) didnt you check when you took out the policy?
This way they dont have to honour the PPI and so the money that "JOE SOAP" has struggled to pay them just lines their already bulging pockets.

They know damn well what they are doing, but what the heck . They presume people will sallow all of their excuses and lies.

Well now Ive had my daily rant and rage over them .
Im going for a nice coffee.

regards

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Forgot to put the reason for not being able to check with the Norwich. I rang them and they said that any premiums that are not paid to them by d/d means that the lender usually pays the premium up front to them so they dont have any details on who has a PPI with them by that company.
Is this right sounds like a load of old tosh to me

[itsmeandonlyme]

Originally Posted by overflow

Forgot to put the reason for not being able to check with the Norwich. I rang them and they said that any premiums that are not paid to them by d/d means that the lender usually pays the premium up front to them so they dont have any details on who has a PPI with them by that company.
Is this right sounds like a load of old tosh to me

Hello Over,

Norwich has got nothing to do with the our claims and PPI, but u were right to check... This is what i thought in a first place...unfortunatly, on the agreement the cover is provided by Norwich, but WF takes the payments..and i do not think they registre us with Norwich

about the reduction... what they have done is they cancelled PPI, but FORGOT to mention to you that most of PPI is paid in a first couple of years...so you pay most of the PPI first and a small % of the loan in each DD monthly payments and after PPI paid they start collecting your money towards the actual loan... Rule 78....

For exsample: your daughter pays £302 every month and the PPI in the agreement is about £2000( i do not know how much is hers)+ interest...

So first 6 month of payments would go towards PPI and nothing towards the actual loan9 very very small amount), and after PPI is paid the dd payments will start bringing the loan amount down...

That's why after a year of payments she still have a huge amount to pay and thats why it's very important to claim PPI back whatever they would offer you...
what you need is the ectual statements as in them you can find out that they have applied rule 78 and how much of those £302 each month went towards PPI and towards the actual loan....


i hope i made it a bit more clear


Regards,


itsme

[veilside01702]

Hi over....
Had and won a similar fight with EGG....monday....had loan wiped....
Did they supply a statement of account and their Terms and Conditions with the CCA request??
If not then it might not have been fulfilled properly.....lol
That's what they did with me...
Have you sent a Subject Access Request??
If you do, it means you can see what has been paid, copies of phone calls and who you have spoken to......all the notes on their computer system...
Write a letter to the person in charge of the bank and mke them aware of what has happened.....
Just don't give in and accept anything until you get what is right..... a full refund of all PPI payments made to date, and the PPI removed from the original balance....
If you need anything just send me a PM.....

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Thanks itsme and 2701

Both of you have been very helpful.
My daughter has an appointment with them today to sign a new agreement (which Im not in agreeance with) but she asked me to go as well so ill make sure she reads everything.
this is the letter she got from them

"I write in relation to our conversation and your recent complaint. Having reviewed your agreement .In our opinion you have not been mis-sold PPI . In your atatement that Mr ****** was not in employment for 6 months and could not claim. Once Mr ***** had completed 6 months continuous employment he would be able to claim

In Jan you requested to cancell the insurance which we actioned an a pro rata basis, as this is the rebate we have recieved from the insurance . In order to adress your query, we are as a gog, prepared to rebate the difference in cancellation rebate, between inception date 31/06/2006 and the 12/01/2007 when you cancelled the insurance.

This mean the total amount repayable of your agreement will be;

£6900.00 Amount of credit
£4066.80 Finance charge
£295.00 Gap Insurance
£170.15 Interest change for Gap insurance
£150.00 Acceptance Fee
£100.00 Option Fee
£11681.95 Total amount repayable

This is a reduction of £3050.05 from the original figurres. However the monthly payments of£302.75 will remain the same .If you maiintain a Full payments on your agreement this will reduce your term from 48 mths to just over 38mths. There may also be a rebate of interest at the end of your term."


They have also rang her to say that the payments she has already made will need to be taken off the balance as well. This is just over £3000.00.

She seems to accept this but somewhere I smell a rat.
I think she should get the total amount she has paid off the ppi back in form of a cheque. Or does anyone think Im pushing her luck.
Do you think she should be happy with the deal they want to make?

All advice would be appreciated thanks

[itsmeandonlyme]

Hi Over,

thank you for the click...
she sould accept it in form of cheque, but i am not sure WF will offer you to pay back this way..whey will rebate this amount to her account..but she can try.

The only way IMHO she should accept it, if they deduct this £3000 from the total of the loan + loan interest. But she does need statements to get her figures right...
Did she make all the payments on time? do you know about any extra charges for not paying on time?


regards,


Itsme

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hi
Well I went with my daughter to see the nice man at Welcome. They had a new contract for her to sign but I made sure we read it thorougly first.
They have taken all the PPI off and instead of her having to pay £302. mth they have lowered the payments to £167.00 mth. No insurances at all on it. this leaves her with a balance of £8100.00 instead of the £11000.00 odd they quoted her in the first place. Shes happy with so.
I had to laugh though cause the poor fella didnt seem to know any of the answers to the questions I asked him.He made the excuse that he didnt really deal with car finance side of it he was morefor personal loans.
Then he told us he was leaving next week anyway as he was fed up with the way they rip people off. Said the amount of people that were putting in complaints was rediculous, and he was sick of gettin all kinds of flak as he knew they were right but he has a job to do and only doin as he was instructed. AWH
Felt quite sorry for him really poor chap.Oh well its done now but Im not sure if they have still ripped her off somewhere down the line cause she has paid nearly 12 mths of PPI but cant seem to get my head round it for some reason or other. Anyway as long as shes happy thats all that matters I suppose.
Hopefully she will have no more trouble with them, who knows.

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BTW itsme thank you for the support andyour very welcome

[itsmeandonlyme]

Sounds very reasonable))good for her and for you)she got what she wanted, and it looks fine IMHO

All the best....

Itsme