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Hi This saga continues, but I hope someone can help me as Im stuck....Hellhasnofury has been a great help in the past.
This goes back to a loan my husband and I took out in April 2004. We believe we were mis-sold on the following grounds.....
We were advise we had to take out the PPI (in my husbands name) or we would not get the loan.
My husband is diabetic and no medical details were discussed yet we also had to sign for medicare and and lifecare which were not valid.
Its a single premium policy which we surrended in the Sept 2004.
I have all the SAR details and have written numerous letters to Welcome Finance stating the grounds above as to why I feel this has been mis-sold. There final response is that we signed a declaration at the time of the loan which show the insurance purchase, which is true although it does look like our signatures have been superimposed, but honestly cant remember. They also state that the Agreement (April 2004) pre-dates this regulation set by the FSA and therefore the principles we seek to rely on are not applicable. They have then directed us to the Financial Ombudsman Service.
Where should I go from here....is it worth pursuing with the fos if it pre-dates the ruling?
Any help greatly appreciated.
Hi This saga continues, but I hope someone can help me as Im stuck....Hellhasnofury has been a great help in the past.
This goes back to a loan my husband and I took out in April 2004. We believe we were mis-sold on the following grounds.....
We were advise we had to take out the PPI (in my husbands name) or we would not get the loan.
My husband is diabetic and no medical details were discussed yet we also had to sign for medicare and and lifecare which were not valid.
Its a single premium policy which we surrended in the Sept 2004.
I have all the S.A.R - (Subject access request) details and have written numerous letters to Welcome Finance stating the grounds above as to why I feel this has been mis-sold. There final response is that we signed a declaration at the time of the loan which show the insurance purchase, which is true although it does look like our signatures have been superimposed, but honestly cant remember. They also state that the Agreement (April 2004) pre-dates this regulation set by the FSA and therefore the principles we seek to rely on are not applicable. They have then directed us to the Financial Ombudsman Service.
Where should I go from here....is it worth pursuing with the fos if it pre-dates the ruling?
Any help greatly appreciated.
Hello FBN,
You will get no joy from Welcome, they truely play hardball. They I feel are correct regarding the regulation by the FSA does not cover policies that were taken prior to them coming into force to regulate the scandalous selling that was going on. Disgusting really and this is the reason that these companies hide behind this fact .
I am not sure that the FOS will investigate the case either, but you can always give them a quick phone call to check.
If the Fos won't consider investigating, you other option is court:grin: That may make them sit up and listen:grin:
If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW
Many thanks Hellhasnofury. Ive contacted the fos and unfortunately they cant help because, as you rightly state, it pre-dates the regulations!!!!! Madness!!! I guess I now go to court which to be honest Im not looking forward to so any help anyone can give would be greatly appreciated. Tks.
Many thanks Hellhasnofury. Ive contacted the fos and unfortunately they cant help because, as you rightly state, it pre-dates the regulations!!!!! Madness!!! I guess I now go to court which to be honest Im not looking forward to so any help anyone can give would be greatly appreciated. Tks.
Hello FBN,
I totally agree that it is madness that they will not look into the case. The FSA was set up to regulate the financial companies to stop these bad selling practices
Do not under any circumstances rush to take these muppets to court. you have to make sure that you cover all bases in your POC and know your homework.
There is a template poc in the stickies for you to have a look at, but I would pm Mcfad and Itsmeandonlyme for a few pointers.
Now don't go all negative, read around, pace yourself and think positive
If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW
Im not being negative honest, but must admit I am scared of going to court. Has anyone ever won against Welcome Finance.....do you think its worth taking them to court...its about £1.5K which to me is alot of money and could certainly pay some bills but in the general scheme of things I guess it small fry.
Hi there FightingBackNow,
I too am concerned about going to about court. My claim is for over £17k so I don't think I even get to small claims:o . I have yet to see what my bank responds with but come what may this wide spread mis-selling of a generally useless product has to be stopped. Class yourself as a pioneer in the war of reclaiming.
Yes it is worth taking them to court it's your money and you want it back.
If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW
PPI v Welcome Finance
(in my husbands name) or we would not get the loan.
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Re: PPI v Welcome Finance
Originally Posted by FightingBackNow
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