Thread: Welcome Finance Final Response

Hello pinklily,

Welcome to the PPI forum

After trying to claim back my PPI on a secured loan taken out with welcome in October 2006, today I have received their final response.

I claimed that the PPI was missold because we were told at the time that PPI was a condition of the credit approval. Which at the time we went along with because we were desperate. Only after all of this information came out we realised they had ripped us off. I also claimed that we were missold the policy because the insurance only covers us for the 1st 5 years and the loan time is 15 years.

The final response from welcome says that we weren't forced to take out PPI and at the bottom of the paperwork, it does say it is optional. They state all taff go through training and can't force us to take it. Which I know is rubbish but I can't prove it. They also say about the 5 year insurance period that we received the documents about what was covered and we had 30 days to cancel we should have done it then. They say in the letter unless we can prove otherwise there is no claim for mis-selling !

Not sure what to do now, I can't prove what the salesperson said. JUst wondering if anyone can direct me further, is it worth trying to persue ?

The PPI was front loaded don't know if that makes any difference ?

Thanks in advance

Time to start to reclaim your PPI. First course of action is to send a Subject access request with the fee of £10.00 please see this link...

Full Subject access request for ppi

Ask for every scrap of data they hold on you in whatever format.

The following should help you to decide if you have a valid claim.

For claims before 2005 and the FSA ruling from which campaign
How to tell if you’ve been mis-sold PPI
Quick check: were you mis-sold? - How to tell if you’ve been mis-sold PPI

Another useful site to help you reclaim missold PPI UPDATED 16 JUN 08
Reclaim your PPI premiums - payment protection insurance | This is Money

This is a little snippet from the above link....

Can I reclaim on any PPI policy?
Your claim for compensation is dependent on when you took the insurance. PPI sales only came under the jurisdiction of the FSA on 14 January 2005. Any sales made before then are not covered by the latest rules.
However, it may still be worth complaining to your lender if you feel you have been mis-sold. If you bought before January 2005 it is likely that they will have been covered by a previous regime of rules. This means that the Financial Ombudsman Service will be able to consider these complaints. If you took PPI after January 2005, your claim is subject to the latest rules.

You can of course go to the fos here is the link for contact details....

Financial Ombudsman Service

as you have had a final response you can go straight to the FOS and then Court if the FOS do not uphold your claim.

My fight with RBS took nearly a year but the FOS took 4 months to adjudicate as the RBS settled with a goodwill gesture without any admission of liability.

more information in here....links

hope this helps you out

aa