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I have 2 loans with Welcome. The second loan cleared the original and settled the account.
PPI was added to both accounts which i feel i fairly have strong grounds for reclaiming. I have made complaints to Welcome and they have given their final response that they are unwilling to refund any charges. As the agreements were pre-2007 i am unable to use the fos. I have tried the FLA but they are simply a mediator and hold no juristiction.
I was wondering what actions i can now take to reclaim the PPI i feel i was mis-sold. Also the PPI that was added in the first loan was included in the settlement figure for which the second loan covered. Are they allowed to do this as i feel they have claimed the full PPI premium even though the second loan settled the account.
the problem with these insurance products is that they are front loaded.
that is the full ammount paid up front,
welcome screw you at the high apr that way
the norm is there should have been a rebate calculated
time left on the original loan, interest re-calculation, etc
did they give you a rebate figure on the first loan to carry on to the second
bet they did not
you then have a case for miss-selling
but this is welcome we are talking about
prepare for a hard slog
No rebate was done it was just incorporated into the second loan.
They basically told me that if i took out the PPI i would stand a better chance of being accepted and as my credit file was not that good it would reduce the APR i paid. What a load of balls, if this is not mis-selling i dont know what is. My wife was prsent as witness to.
Also i am not too sure but i am wondering if the agreements are set out corrrectly. They are pre-2007 so am not too sure how that will affect it but the total charge for finance etc is missing from it.
The first one was cleared using the second loan thats when i mentioned it looks like they have added the first lot of PPI to the second loan. The second loan is still oustanding with a default issued against me.
I thought there were things missing but was not sure. As said i have done everything i can using their complaints system and fos cant do anything with them.
I am looking for a refund in PPI, default removal and possibly wiping the debt due to it being un-enforcable it it turns out to be that.
They also have not signed the second agreement it has not been blanked out by me.
The default notice is present and holds all the information it should, only bit i wondered about is at the bottom there is a section for signature that is unsigned.
I would like a bit of help please on behalf of my son. He took out a loan with Welcome and got himself into debt. He has sorted most of his problems out but is stiil left with WF to resolve. He can't afford to pay the loan off and Payplan are being useful except they seem not to want to get involved with the rights and wrongs of the PPI. Having read through this forum i thought that if we could get the PPI written of then his payments would get a bit more managable. I posted a copy of his agreement washed of personal details (i hope it works as i've never done it before) and the thing that strikes me is the boxes agreeing to PPI are pre-printed, surely this not legal. I have told him to write an SAR which he is in the process of doing but in the meantime any advice from you great people would be appreciated.
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Will have to find out about the default notice, even if it turns out to be ok if the agreements are crap it should never have been issued anyway.
letters i have received from them when i went down the un-enforceable route implied that as it was pre-2007 the principles in which i sought did not apply ie, unsigned etc.
Bottom line is that they are reguated by the CCA 1974 and there must be sections in there giving me some protection or whats the point?
Welcome Finance PPI
was added to both accounts which i feel i fairly have strong grounds for reclaiming. I have made complaints to Welcome and they have given their final response that they are unwilling to refund any charges. As the agreements were pre-2007 i am unable to use the fos
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