Please read and comment on letters to and from Welcome Finance

[minus-millions]

Letters sent -

As yet I have received no reply to the letter below and so I will send it again -

By Recorded Delivery on the 18th of September 2009

By Recorded Delivery on the 18th of August 2009

　

Dear sir/madam

I purchased in connection with the loan referenced above Payment Protection Insurance (PPI) .

I believe that I was miss-sold this policy for the reason(s) given below and request you investigate my complaint in accordance with the Financial Services Authority (FSA) Regulations .

Despite it being explicitly required under the rules of the FSA - at no time did Welcome Finance ask about existing insurance cover .

Welcome were at the time well aware that I am a mortgage holder and as a condition of mortgage I must remain insured against every possible eventuality , it seems reasonable that while acting as an insurance broker Welcome Finance should have questioned the need for PPI of their own accord thus preventing the sale of an entirely unsuitable insurance.

At no time was it explained to me that the insurances were optional and I accepted them assuming that obtaining the loan relied on my acceptance .

At no time did Welcome Finance explain to me the amount of interest that is payable on the premium as is required under disclosure rules .

At no time did Welcome Finance explain or bring attention to the exclusions and limitations of the policy .

It follows that I was unable to make an informed decision regarding the PPI as a direct result of Welcome Finance failing to act within the rules explicitly required by the FSA .

I trust you will uphold my complaint and so refund all premiums paid including both statutory and compound interests and compensation in the prescribed manner within an acceptable timescale .

(1 of 2)

(1 of 2)

Please note ;

Though I would expect the loan agreement to be restructured to take into account these changes but any attempt rewrite the loan agreement will only convince me that I should look to resolve the matter either through the Courts or the Financial Ombudsman .

Also I am advised as I dealt solely with Welcome Finance while purchasing PPI that Welcome take responsibility for any third parties involved .

 

Welcomes Reply -

I write further to your letter dated 21 August 2009

Having reviewed our records . it appears that we have not recieved the questionnaire requested in our original correspondence .

As explained in our original letter , we are not yet in a position to accept your complaint, until the questionnaire has been completed and returned to us at the above address. Upon receipt of the aforementioned correspondence, i will investigate the matter thoroughly and issue a final response within the regulatory timescales allowed.

Please note that if the questionnaire is not returned within the next four-week period, Welcome Financial Services Ltd (WFSL) shall close your complaint file .

Signed Ian Brocklesby .

 

My response not yet sent and i'd be happy to accept any suggestions or corrections . -

 

By Recorded Delivery on the 25th of September 2009

Dear Sirs

Thank you for acknowledging my letter of complaint with your letter dated the 21st of September 2009 a copy of which is enclosed .

Please note the questionnaire you describe was never received at this address and therefore cannot be returned . In that regard I can only suggest that you make enquiries with the Post Office . However as it is highly unlikely a questionnaire of any kind might alter the basis of my complaint or invalidate it . Therefore I must accept your letter as nothing more than a delaying tactic and thus further evidence of Welcome Finances contempt for the ethics codes and rules of good business practice . I am advised that if Welcome should close my complaint on such contemptible grounds it is reasonable to state that I have exhausted Welcome’s own complaints procedure .

This allows me to seek the assistance of the Courts or the Ombudsman .

As your letter states a reply must be received within four weeks if the complaint is to stay open I must insist on your reply to this letter within 21 days assuring that my original complaint will remain open and will be dealt with accordingly .

[andie_303]

Good letter - I like it a lot I think you shoudl send it ASAP

[rrimmer]

Hi,

 

I've had the questionnaire and am trying to work out whether I need to complete it or not. As you say it does not alter what you are claiming for and I am wondering whether it is a delaying tactic or an attempt to draw you in to shooting yourself in the foot with your responses to their questions? I was thinking they figure that everyone is just sending template letters and don't really know what they are doing, so getting people to respond in this way could result in them writing something that would invalidate their claim through ignorance?

 

Any further information / suggestions would be most welcome (no pun intended) as I'm not sure what to do.

[andie_303]

Hi Rimmer

 

They are indeed looking for their way out - I have advised people to reiterate their complaint with as many facts as you can and thats it - I wouldn't fill out anything they send you

[minus-millions]

Thanks andie 303 , i have decided to send all letters by recorded delivery and each time i do i will include copies of all previous letters , i hope by doing this it will become obvious , even to welcome , as the pile gets heavier that i am compiling evidence for a lawyer to look at .

[rrimmer]

Thanks very much Andie 303. I've been sitting on this questionnaire for a couple of weeks trying to figure out what to do next.

 

Thanks also minus-millions, I hadn't thought of sending previous copies of correspondence all the time but will do.

 

I can't believe that despite being warned about being obstructive Welcome continue to be just that!

[minus-millions]

Ombudsman agreed 2 years ago i was miss sold PPI but its October 2011 now and i still haven't recieved a refund .