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I sent a letter to Welcome Finance on the 12th May to request a refund of all premiums and intrest on my account as they mis-sold the policy. They just added it to my account i wasn't even aware i had PPI until i looked at my credit agreement a few weeks ago.
How long should i give them before contacting tham again as it's been nearly 4 weeks already.
Also does anyone know where i can get my agreement checked as i have a feeling that it's not legit, And judging by everything else i've witnessed and read it wouldn't supprise me
if you scan it to your PC and remove all your personal details (e.g name, address account No, signature) then you can upload it to photobucket and post it in here. Then hopefully someone will take a look for you Out of interest when was your agreement taken out?
In my dealings with welcome I found they just didn't answer so I kept writing every 3 weeks or so until it was time to raise the grievance with the fos.
I'm affriad I know very little about CCA but hopefully someone who does willl be along soon. I would say though its very hard to read (the prints too small) it might help if you could make it clearer at all? (or is the copy you have difficult to read?)
Does the annual interest rate say 55.50%????? If so that is outragous?
Just thinking out loud but this document doesn't appear to have a way for you to opt out of the PPI? (I think usually theres a box to tick if you want it) unless I'm missing it?
If so did you get any other docs where you have actually agreed to the PPI?
Also I thought that over a certain figure for interest rate was considered extortionate (I'm sure I read it somewhere). Wonder if someone more knowledgable could also advise re the interest rate?
It's the copy they sent me it's very hard to read.
It says the annual interest is 65.50%, i didn't realise it was that much they told me alot lower when i took it out.
But it doesn't surprise me as when i first got accepted for the loan they said it was for the full amount i'd asked for but when i got there she said they couldn't give me that she then said she would give me half of it even though she shouldn't but she really wanted to "help" me. At the time i was desperate i really needed whatever i could get and being so niave went for the first thing i was offered.
What i huge mistake and even that's an understatement
I didn't even know i had PPI until a few weeks ago it was never mentioned to me, i can't see anything about opting out of it either. It was all sent in the post but i didn't recieve anything about PPI,
Thanks for your help, hopefully i can get this sorted A.S.A.P
hi animal lover
do not send any correspondents to your local office.
send every thing to welcomes compliance department in nottingham.
welcome are very good at ignoring you as the term trained monkeys operate at local level.
prepare for battle as they hope you will give up and go away.
a few questions to ask
was the person who sold you the policy qualified to give advice and selling
did they ask if you had any medical problems that may invalidate the insurance
double check that you do have insurance,
find out who the policy is held with as welcome only sell the policy at a fat commission.
if they do not tell you do an SAR and do check YOU DO HAVE A POLICY
An SAR is probably a good idea anyway cause from my own experience their paperwork can be awful and may aid your claim (they even sent my friend confirmation of the big fat commission figure their sales staff got for selling them PPI!).
I guess you should be able to tell if you are paying for PPI by the amount of your monthly payments compared with the figures on that CCA (I tried to see if I could work it out but the figures are very hard to read!).
I can't believe the interest rate is 65.5 that is outragous!!
I know that a copy of your credit agreement must be readable so it might be worth requesting a legible copy of your credit agreement when you are making your SAR!
hang on a mo
ill dig out the address
when you send in your SAR request the info on the person who sold you the policy
ask them if they were qualified and what profesional qualifications they hold
hear is the address
welcome financial services ltd
compliance dept
ruddington fields business park
ruddington
nottingham
ng11 6nz
you have a good case allready if medical questions were not asked
but be prepared to issue a court n1 for them to start talking to you
you will then have the court behind you for them to release documents
lets hope this time it does not come to that
maybe a mod can send a pm to peter barred on this one to check the agreement
i know in my case the acceptance fee and the total ammount for credit was welcomes downfall a no no
im sure a cagger who knows PPI will be along to lend a hand
in relation to this welcome have a habbit of putting in an acceptance fee before calculating interest
racks up the profit
again a no no
peter barred is your man on this
Thank you, I'll post it tomorrow
It would be great if someone could check it, I have a funny feeling that it's not right somewhere.
How do i go about getting Peter Barred to look at it?, Do i have to send a pm to a mod?
I'm easily confused
mods regular check the threads so they will prob to it
ill check back in a few days
again in my case the agreements welcome do are nothing but bog roll,
but they could be getting better at it
may i ask when did you take out the agreement
all i can say at the moment is you are in good hands on this forum
welcome gave me four years of hell before i found CAG
you realise now welcome is my pet hate
they are nothing but loan sharks causeing misery to untold people
once they get there claws into you it is hard to get out
you can get out useing this forum, you just have to pick at there unethical dealings
ok great, yep i don't think i've spoke to anyone who has a good thing to say about them, if i could go back in time i would'nt of taken the loan it has completely ruined my credit file. but i suppose everyone thinks that.
Do you think i'll have good cause to ask them to remove the default as for 1 they didn't give me a notice or whatever it is there supposed to send and i also fell behind with payments now i've realised i've got PPI that's probably why. i'm sure i could of kept up with the payments had it ov been for that.
I took out the loan in December 2006
the last thing welcome will do is default you
they want to squeeze every last pent out of you
yes if they have now defaulted you a default notice will have been sent out first
your SAR will reveal if any
if no default notice no default should be on your credit file, be be prepared for battle
i had to take them to court for my default
do you remember signing for PPI
you hear horror stories of it being added later for commission for the salesman
like i said, been there done that so i know how they operate
Welcome Finance Investigation
until i looked at my credit agreement a few weeks ago.
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