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Hi Guys, First off just want to say, I love this website, very helpful
Welcome finance defo miss sold us our PPI we already were covered with Legal and general and didnt know we took out PPI until it was done, We were never told it was optional otherwise we would have said no.
We wrote to WF on the 4th December 08 and got responce letter dated 5th January, saying,
"Thank you for letter of 4th December 2008 regarding your recent complaint.
The issue(s) you have raised are still under investigation and we hope to have a final responce sent to you in due course. I would like to take this opportunity to thank you for your patience in this matter."
Is this standard? what should i expect to happen now?
Mreilly130 x
knowing welcome like i do
not a lot
welcome have a habit of adding PPI etc later for commission
do you still have your agreement and how old is the agreement
i don't have it anymore, the loan was taken out i think in 2003 but paid off last year. It was topped up a few times and i think each time they topped it up they would pay the old one off and start a new loan with more PPI insurance and more interest, we borrowed at most £12500 over 4 years and paid it on time everytime, our payments reached £350 a month (more than our mortgage at the time and we still got a settlement figure of £17500 ???? i had the account number though so I've applied to see if i get anything back.
you need to do a cca request to welcome to get your agreement
it will cost £1 pound
in your case i would go straight for a sar
that will give you every thing welcome have on you
it will cost ten quid though but worth its weight in gold
you will have all the ammo you need then
ACCOUNT NUMBER: xxxxxxxxx (or multiple numbers if more than one account)
Please supply me with all data that you hold on me. This includes in particular, but is not limited to, the following:-
1. The original signed, executed credit agreement and any terms and conditions that applied to the account at the time of default and at the time the account was opened.
2. Transcriptions of all telephone conversations recorded and any notes made in relation to telephone conversations by your company, or by any previous creditor
3. Where there has been any event in my account history over this period which has required manual intervention by any person, I require disclosure of any indication or notes which have either caused or resulted in that manual intervention, or other evidence of that manual intervention in relation to my account formerly held with ORIGINAL CREDITOR.
4. True copies of any notice of assignment and/or default notice or enforcement notice that you or the original creditor sent me, with a copy of any proof of postage that you hold.
5. Documents relating to any insurance added to the account, including the insurance contract and terms and conditions, date it was added and deleted (if applicable).
6. Details of any collection charges added to the account; specifically, the date it was levied, the amount of the charge, a detailed financial breakdown of how the charge was calculated, and what the charge covers.
7. Specific details of the fees/charges levied by any other agency in respect of this account and a detailed breakdown of said fees/charges and what each charge relates to and on what date said fees/charges were levied.
8. A genuine copy of any notice of fair use of my data as required by the Data Protection Act 1998
9. A list of third party agencies to whom you have disclosed my personal data and a summary of the nature of the information you have disclosed.
10. Copies of statements for the entire duration of the credit agreement.
I enclose the statutory maximum fee of £10. You have 40 days in which to comply.
If there is specific information which you require in order to satisfy yourself as to my identity, please let me know by return. However, please note that the above address is the one which you normally use to communicate my private business to me and which you have hitherto found to be acceptable.
I'm not sure if this letter is going to be any use becasue its mensions default details on it. its a claim for PPI so would I still use this letter to get a copy of the agreement?
Sorry if I sound like I don't have a clue, but I don't Mx
Hi Guys I received a responce to my CCA letter which was sent 4th Dec 08. Here it is,
Head 'Final Response'
I write in response to your letter received 4th December 2008, which has been passed to me for reply. I have investigated the issues raised and can respond as follows;
You entered into a secured Load Agreement on 16th July 2002 and settled the agreement on 30th April 2003, at which time you purchased PPI. PLease note that I can find nothing in our records to indicate that we did not execute your agreement correctly and in accordance with your wishes.
In addition, Direct Group Ltd, who administer the insurances, would have sent you a policy schedule and wording. At this point you did have 30 days in which to cancel the PPI, which should have given you the opportunity to read through the policy information you were provided, which covered any cancellation right and exclusions.
You have alleged mis-selling may have occured. This would invlove the sale of a policy that was not relevant to the person insured or on which they were unable to claim. Our records show that you have paid for and enjoyed the benefits of the purchased insurance for the term of its respective existence.
I would like to take this opportunity to point out that your loan agreement number ******* pre-dates the regulation of our business by the Financial Services Authority, and therefore the principles you seek to rely on are not applicable.
i would also like to take this opportunity to refer you to section 5 of the Statute of limitation act 1980. I do not believe that you would be able to refer your complaint to the courts to begin legal proceedings in view of the length of time that has elapsed since your PPI was cancelled.
In light of the evidence avaiable to me, I do not believe that the mis-selling of insurance took place. However, if you have any evidence on which you seek to rely, Please forward this to me at the above address. On receipt of this I shall be happy to consider the matter further.
Should you remain dissatisfied with our final response, you can escalate your complaint to the Financial Ombudsman Service within 6 months of the date stated on our final response. I have enclosed their details for you information
If you decide to refer your complaint to the fos considering the documentation and evidence avaiable to me, we would request your claim be dismissed on teh grounds that it has no reasonable prospect of success.
SOoooo what do you guys think my next step should be :L x
"Our records show that you have paid for and enjoyed the benefits of the purchased insurance for the term of its respective existence."
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I love this quote!! Ohh people just love paying for something they dont need, want and is way over priced!
Id be very interested to see how long Direct Group have been around. If its less than 6yrs then they have a bit of a problem. I visited the website recently looking for information, but its very basic with little or no "real" information.
I believe there are some serious investigations taking place around Welcome's PPI.
I am certain someone with a bit more experiance on the PPI front will be along shortly. I am heading down the route of claiming mine back, but my loan is only 2yrs old.
It looks like they are certainly trying to brush you off with the pre FSA story and time frame. They must have been regulated by some body.
I felt thsi myself, this letter seems a bit panicky to me. Get this, last night i got a phone call from a loan company offering me a loan to pay off my current welcome loan because they have stopped lending, welcome are on the way out :P which is why i guess i need to work fast if im to claim back my PPI if at all
Welcome finance PPI miss sold
we already were covered with Legal and general and didnt know we took out PPI until it was done, We were never told it was optional otherwise we would have said no.
x
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