Thread: Welcome Finance Car Loan and Unsecured Loans

Im new to this part of the forum and would just like to know a few things about claiming PPI back.

I have had two loans in the past 6 years with welcome finance and was told at the time i had to take out the payment protection other wise they were unable to give me the loan is that right?

I borrowed 1500 each time and ended up paying back about 4000 on each loan back. Most of this was ppi would i have a case to claim this back even though I have paid the loans off?

I also had a car loan with these which ended around 3 years ago. When I got the car it was with Yes car credit but the finance was with Welcome Finance.

This car got written off which was not my fault and I got £1,500 for the insurance which payed part of the finance off but I still had another year to go on the 4 year loan so still had to pay about £3,000.

I was gutted that I had to pay for a car I no longer had!!

The thing is after talking on the phone today about my current car and loan I was told that I had taken out gap insurance? I had no idea I had it and didn't know what it was for. Apparently this covers you if the car gets written off etc.

I'm wondering if this was taken out for the Welcome car loan and I didn't get it?

How would I find that out? Would I be able to still claim it even though it was about 3 years ago if I did have it?

hehe
welcome [pun] to the great world of being a welcome finance customer.
we know your car got written off and we know you had GAP ins , but you didn't ask to invoke it....so we kept quiet! and fleeced you of more money.

postggj will have an orgasm when he sees this thread

dx

who is postggj? can he/she help with this? when it comes to sending a Subject access request do i do a separate one for each loan ? also i have no ref number etc? i live in nottingham could i go see them at their offices?

Originally Posted by crampers

Surely the GAP insurance should have covered the shortfall between the value of the vehicle and the outstanding finance ?

Well yes you would thought so but i was just told to pay the rest of the loan off. i have bank statements to prove i paid the loan till the end. remembering back i know i had shortfall insurance for this.

Originally Posted by HFwho?

who is postggj? can he/she help with this? when it comes to sending a Subject access request do i do a separate one for each loan ? also i have no ref number etc? i live in nottingham could i go see them at their offices?

one SAR is all that is need per co.

dx

Sending this off first thing in the morning. I have used the template in the sticky for this forum.

Should the letter refer to the condition set out in the data protection act? Like how many days they have to respond etc?

They obviously know but you never know lol. Also is the Ruddington address, compliance department the right one to send it too?

Hi postggj, does this happen a lot then? Does it matter that the loan finished 3 years ago?

Originally Posted by postggj

how do you fancy getting all that money back
all on welcome plus 8% interest

What for the whole loan amount? That would be about £11,000?

Yes, yes, yes, yes!!!!

yes got the compliance address (Ruddington) and the letter done going post office first thing to post and get postal order.

Originally Posted by postggj

in the morning give these people a bell

ask them to send every thing they have on you ref insurance and welcome finance

they normally do
no qusetions asked

Direct Group - Where Insurance and Innovation Combine - Home Page

Do you mean ask them about what they have on me? Would I need a Reference number?

I have just been on the phone to Welcome, probably not a good idea but managed to get my account numbers for both the car and the loans.

Also asked about the gap insurance on the car apparently it was paid and it was £145.

Nearly laughed when he said it was with Direct Group because 5 mins before you told me to ring them Postggj.