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Before I start please let me apologise for another Welcome Finance Post.

 

In August 2008 I took out a loan with Welcome Finance, at the time they talked me through there terms and conditions over the telephone. I did say to them that I was not sure about taking out their PPI but I was told that if I didn't want it I did not have to sign that part of the loan agreement. By the time I received the agreement I was sure I didn't want their PPI so I signed the loan agreement but not the part where I was agreeing to the PPI. A couple of days later I was told that as I has not completed the agreement correctly they would send it back to me and I told them that I hadn't signed the PPI section because I did not want it and wasn't accepting the terms. I was then told that this was wrong and that if I didn't sign this section the offer of the loan would be invalid - stupidly I agreed to sign the missing sections when I received the paperwork back - I was caught in a hole and really needed the money.

 

Do I have any way of getting any money back? I have been paying the loan for 11 months now and have another 13 months left but I have had to finish work and therefore the PPI orginially sold is of no use to me at all. The circumstances of me finishing work due to family committments also means I can not claim.

 

ANy thoughts would be appreciated.

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Before I start please let me apologise for another Welcome Finance Post.

 

In August 2008 I took out a loan with Welcome Finance, at the time they talked me through there terms and conditions over the telephone. I did say to them that I was not sure about taking out their PPI but I was told that if I didn't want it I did not have to sign that part of the loan agreement. By the time I received the agreement I was sure I didn't want their PPI so I signed the loan agreement but not the part where I was agreeing to the PPI. A couple of days later I was told that as I has not completed the agreement correctly they would send it back to me and I told them that I hadn't signed the PPI section because I did not want it and wasn't accepting the terms. I was then told that this was wrong and that if I didn't sign this section the offer of the loan would be invalid - stupidly I agreed to sign the missing sections when I received the paperwork back - I was caught in a hole and really needed the money.

 

Do I have any way of getting any money back? I have been paying the loan for 11 months now and have another 13 months left but I have had to finish work and therefore the PPI orginially sold is of no use to me at all. The circumstances of me finishing work due to family committments also means I can not claim.

 

ANy thoughts would be appreciated.

 

Hello lottie,

 

 

Yes you have every chance IMO of getting your PPI money back:)

 

firstly do you have a copy of the Consumer Credit Agreement? and any or the other paperwork associated with the Welcome finance loan such as terms and conditions statements etc?

 

If the answer is no you will need to read here and gather information from these links...

 

Please have a read through the following.

 

Full SAR for ppi

 

Data Protection Act 1998 - Subject Access Request

 

You should specifically request the following documents:

 

A true copy of your Consumer Credit Agreement with the Terms and Conditions that were applicable at the time you took the loan.

 

Copies of all statements applicable to the loan.

 

Copies of all correspondence that apply to you as a data subject ie letters, emails, faxes etc.

 

Copies of all recorded telephone calls or transcripts of the recordings.

 

A copy of the needs and wants/ customer duty of care questionnaire... here is an example.

 

http://wwwa.mbna.co.uk/insurance/files/CP0608_INSU_MB_LP_S.pdf

 

Copies of any notes made by any staff in their dealings with you.

 

Also have a look in these links for further help.

 

PPI - Some Notes for Claimants..

 

links within this one are loads more links here are a couple that may help..

 

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

 

THIS LINK IS IMPORTANT TO YOU ON RECLAIMING IT IS FROM 2001 FROM THE FOS

loan payment protection insurance and a quote from this link...

 

 

Quote:

When determining whether a policy is suitable, a seller – whether a lender or an agent for the insurer – must obviously take into consideration any information the prospective policyholder volunteers. However, we do not consider the seller’s duty is limited simply to recording what the borrower discloses. It is only by asking questions that the seller can properly determine suitability. These questions cannot cover every aspect of a borrower’s personal position and should not be expected to do so. To paraphrase the ABI Statement, only those matters deemed to be relevant by the insurer should be the subject of questions.

The Subject Access Request will cost £10.00 but it should get you all the data on the loan.

 

Have a look around for cheaper PPI you can google moneysavingexpert and you should find cheaper PPI insurance on the insurance tab at the top of the site.

 

If you get little or no response from welcome finance then complain to the FOS, ICO, OFT and make the complaint strongly worded so they take note.

 

There is a lot of stuff here, it took me 12 months from start to finish but I did get my money back.

 

Here is some information on welcome from these two sites...

 

WebCHeck - Select and Access Company Information

 

type in the company name and hit the search button

 

FSA Register

 

on this one type in the firm name and hit the submit button everything in red is links to more information on the company.

 

 

I hope all of the above helps I know there is a lot of information but better to be prepared on reclaiming as they will try and fob you off, tell you that you are wrong and generally mislead you once you start your claim.:eek:

 

aa

I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

------------------------------------------------

Bank charge successes:

Halifax - Full settlement incl interest.

HSBC - Settlement, goodwill no admission of liability about 75% of claim.

RBS - Settlement, goodwill no admission of liability about 70% of claim.

2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did :mad:

PPI Successes

PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.

2 claims settled in full with LV without FOS involvement.

2 claims settled in full with HSBC without FOS involvement

 

PPI Claims ongoing with:

Cap one Now with the FOS

Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.

LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc

 

1 Complaint not upheld by FOS they said it was ICO issue. Complaint upheld by ICO. See this..

Post 290 from

***RBS PPI Claim Long fight but, WON***

 

Please do not PM me for advice as it may be sometime before I can respond.

 

Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.

 

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Hi Alanalana

 

Thanks for your reply. I do have a copy of the credit agreement. However, I have sent off for a full SAR and requested the items you have listed. When I took the loan out I already had a car loan with them, which is why I used them in the first place - STUPID I know but still! Anyway it will be VERY interesting when (if?) I receive the information I have requested as I now know for a fact that the car agreement is VERY dodgy (knowledge all thanks to this site) not least by the fact that I only signed photocopies, have never received true copies of the agreement and that the car garage let me drive off without ensuring that all the paperwork was in order - Welcome made a very panicked telephone call me to requesting all kinds of information including a copy of my debit card (front and back) for the signature I guess - all of which I declined to send them and between that loan and the new one I got married so they can not even use the signature on my most recent agreement. And yes I did have PPI with that loan too............ so I am hoping that I will have at least one victory!

 

So heres to day 39 and counting down!

 

Thanks

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Post up when you have updates :)

 

aa

I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

------------------------------------------------

Bank charge successes:

Halifax - Full settlement incl interest.

HSBC - Settlement, goodwill no admission of liability about 75% of claim.

RBS - Settlement, goodwill no admission of liability about 70% of claim.

2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did :mad:

PPI Successes

PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.

2 claims settled in full with LV without FOS involvement.

2 claims settled in full with HSBC without FOS involvement

 

PPI Claims ongoing with:

Cap one Now with the FOS

Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.

LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc

 

1 Complaint not upheld by FOS they said it was ICO issue. Complaint upheld by ICO. See this..

Post 290 from

***RBS PPI Claim Long fight but, WON***

 

Please do not PM me for advice as it may be sometime before I can respond.

 

Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.

 

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