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Found 14 results

  1. Hi, I applied for PPI from WFSL through the FSCS in November just received their decision letter saying that yes they owe me PPI but because I owe WFSL an amount on another loan they will offset it. WFSL have sold this account to PRA group for collection and it is also statute barred. I have read on various threads that apparently the FOS has said that if a debt has been sold that the compensation cannot be used to offset the debt, I have looked at the links in the threads but none of them take me to the relevant info and I cant find anything about it on the FOS web
  2. Just wanting a little advice guys please.. I took out an unsecured loan with these numptys back in 2007 for £2500. I have paid back £201 each month on time and I want to see if I am owed any charges they have robbed me of . I have sent my SAR today and when it comes back I will have a good scan through it, but I just need to know once ive highlighted all the charges I think are unfair how do i calculate what they owe me? i have read through posts on here and my maths is decent but I just need to know how I work these charges out thats all, Thanks in advance!
  3. Hi All, New to CAG so sorry if i've posted in the wrong area. I'm looking for some advice i Took out a Loan with Welcome Finance on the 27th November 2007 for £2000 with interest and PPI came to around £3000 to payback, half way through the Loan i lost my Job and was unable to Pay this loan back, and as ever "Buried my head in the sand" shamefully and ignored this Debt, i was also alot younger and stupid to even get a loan back then i think it defaulted and remains outstanding. I had a telephone call from a company called the PRA Group the other day saying th
  4. Dear those who have had decision letter or have Knowledge The letter said my lost was £80,000 (this is what my pension would be worth) however the amount they put as transferred was the amount my new current pension is worth £40,000(this is what they awarded me) however at the time of transfer the amount was £19,000 NOT £40,000. I am lead to believe that my current pension should not be used as a decision. Only the pension at the time of transfer. Were they right to use my current pension figure as the amount transferred when it £19,000. less broker fees My cu
  5. I've just read the thread about welcome finance having no money left to pay out on PPIicon claims, I had a very strange encounter with the FSCS today. I repaid my welcome loan off in February and then contacted the FSCS to put my claim in for missold PPI and other insurances (medicare etc). They sent a letter in march stating that I had to provide further information, which with the help of a friend who is a financial adviser resent the information required. I called the FSCS 2 weeks ago and was told my claim was being processed. I called them again today only to be told that my ca
  6. Hi, I'm about to make a claim for missold PPI on a Welcome Finance loan sold that was sold to MKDP in 2010, it is definitely statute barred ( sure of that). I wanted to know if FSCS rules are different that with normal lenders, if I put the claim in will they be able to offset the refund against the debt? As far as I'm aware, a company can't offset a PPI refund against a debt that has been sold to an external DCA (in this case MKDP). I would be grateful for any help with this. Thanks in advance.
  7. phew, started at about 10.00pm and finally got here to post after reading through all the threads. I took out a secured loan with Paragon that was signed off by a Paragon underwriter on 17/01/05 and was to consolidate credit debt that my wife and I had stacked up across a few years and due to a variety of reasons. The principle loan was £35k gbp and the ppi was £8.7k gbp and being of the front loaded type where the policy was valid for the first five years. I had initially made enquiries via a search engine the previous year, round about October 2004. I responded to a marke
  8. 2 months ago I contacted welcome through a claimant help link on their website. I gave them the information they requested and a few days later received this reply. "I have completed a review of your accounts. We have found that this policy may have been sold by a third party. All potentially broker sold cases are being investigated by the FSCS and it is unclear how long this may take. I apologise for the delay and assure you that we are seeking a resolution to your complaint as soon as possible." I chased this up several times over the next 2 months and got similar replies so
  9. (Thought i had posted this but it didn't show) Hi everyone, i have just had a nice big cheque from the FSCS for mis sold PPI plus interest - it is only 90% of the claim but it is a nice place to be after all these years. My question is - Do i still owe the loan company for PPI now it has been declared mis sold? i will be asking them to redress the loan but can i expect them to remove the PPI from it? any advice very much appreciated cheers
  10. Hi, great site and garnered a lot of info, so thanks. However this complaint seems to be a little non-standard. Long story short my brother was lucky enough to get into a loan with Welcome Finance back in late 2006. He managed to get himself into some financial stiicky pudding due to an ex and ended up turning to them for finance. He had the loan which he kept mainly up to date until he ended up with some arrears in 2008. He failed to deal with these straight away ( osterich syndrome) and Welcome finance threatended him with a CCJ, But due to his job a
  11. The industry has put forward a range of alternative Financial Services Compensation Scheme funding models to achieve a fairer way of levying regulated firms. The FSA’s consultation on reviewing the FSCS funding model, which closed last week, proposes increasing the annual limit of claims paid by investment advisers from £100m to £150m and calls for claims exceeding the annual limit for one class of firms to be met by a Financial Conduct Authority “retail pool”. It also proposes basing the levy on either one third of the claims expected over the next three years, or the costs anticipated for th
  12. This is very confusing and could do with help with composing a letter to send to the FSCS who have just upheld a complaint on mis-sold PPI on a Welcome loan, the loan is still active but not in arrears and FSCS want to pay the PPI award towards the remaining balance of the loan, furthermore there doesnt seem to be any 8% interest added in the calculations. This is a claim that we put in for my husband, in total he has had 3 loans with them, 2 in his own name which were made up of the initial loan and a few years ago we got in money trouble and Welcome forced him to refinance the loan ove
  13. Hi there wondered if you can help me. I know that the FSCS are working really hard NOT to pay out for any bad advice given for mortgages by brokers. I am considering putting a claim in but I wanted to know if anyone out there has had a claim upheld by their old broker, I've heard that success at the minute is very low so anyone out there, please give me the confidence to know that a claim can be made!! regards Simon
  14. Hi all I started the process of claiming mis-sold Lifecare and Medicare Insurance dating back to 2005 and eventually three weeks ago FSCS refunded me just over £1100. However having used the spreadsheets and loan progression sheets on this site I calculate that the insurance payments I have made to date total £1464 and compound interest amounts to £2231, total claim of almost £3700. To say I am not happy about the FSCS refund is an understatement and when I appealed they are basically not entertaining compound interest and rattle on about LIBOR rates which to be honest I do not understand.
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