Offer Of PPI Refund From Welcome Finance - Advice Please

[weescotschick]

Hi there, In July I made a claim for two Mis-sold PPI's with welcome finance and today finally got an offer from them (they say on the letter that they disagree with my assertion but as a goodwill gesture are willing to pay full refund) They have offer one amount of £1888 and £1696 which will be sent to us via cheque.

 

I sent there my acceptance form to them today and would like to know if anyone else has ever had an offer and how long after sending your acceptance form did you recieve the funds?

 

Thanks In advance.

 

PS. I used ISmart to help and will have to pay them 20% they advised today that we will be invoiced for this.

 

Do Welcome finance send the cheques directly to me or to Ismart?

 

Thanks in advance would appreciated any success stories

 

Michelle

[emmilou1]

hi, just sent our acceptance form off today. We didnt use any companies to help get the PPI back though.

[weescotschick]

How long had you been waiting till they replied?

 

Do you think we will get our cheques within next few weeks?

[Martynandemma]

hi, just sent our acceptance form off today. We didnt use any companies to help get the PPI back though.

 

Do you have a copy of the letter you sent to welcome as I am struggling to put a letter together

 

many thanks

 

Martyn

[emmilou1]

How long had you been waiting till they replied?

 

Do you think we will get our cheques within next few weeks?

 

They replied to our initial complaint in about 2 weeks. They accepted that the insurances had been mis-sold in just over 4 weeks. It's been another couple weeks on top of that to get confirmation that the account will be closed (as were applying the refund to the account to clear it) and that the car (it was a hp loan) will be ours with no further monies owed.

 

I'm sure I read of a success story where they had a cheque within around 6 weeks of saying it would be refunded... could be wrong though, might be worth digging around in the other threads to see what their payout turnaround has been in other cases.

 

Martyn, let me see if I can dig out the letter I used, for you

[Fester Tester]

20%!!!!

 

Might I be so bold as to suggest that nobody else should shell out to any claims management [problematic].

 

There is virtually no way Welcome will get out of paying anybody's PPI back, especially once the FOS get involved. Having said that, Welcome seem to be making offers now without needing a prod from the FOS. So really, there is no need to have these [problematic] claim for you.

 

Personally, I'm of the opinion that if PPI WAS mis sold, then the entire agreement would be unenforcable anyway, certainly pre April 2007 agreements, and if they are still live accounts, I'd tend to offer the PPI refund as a Full and Final settlement in lieu of them sending a cheque.

 

For post April 2007 the agreement, again IMVHO, is shoite where PPI was mis sold. And would need a court order to enforce. At the very least, a judge would make them repay PPI payments. At best, he'd write the lot off and make them pay back every penny ever paid, plus interest. Unlikely, but you never know.

[emmilou1]

Totally agree, didn't inform the FOS at all and they rolled over.... but only after I said I wanted the refund applied to the account and not sent via cheque. I think using the refund as a final settlement is a sensible point if it means not having anything to do with them any more which is the situation I now find myself in.

[42man]

I have a pal who was sent his refund £3,000+ 2 weeks after he sent the consent form back...

[Martynandemma]

They replied to our initial complaint in about 2 weeks. They accepted that the insurances had been mis-sold in just over 4 weeks. It's been another couple weeks on top of that to get confirmation that the account will be closed (as were applying the refund to the account to clear it) and that the car (it was a hp loan) will be ours with no further monies owed.

 

I'm sure I read of a success story where they had a cheque within around 6 weeks of saying it would be refunded... could be wrong though, might be worth digging around in the other threads to see what their payout turnaround has been in other cases.

 

Martyn, let me see if I can dig out the letter I used, for you

 

Emmilou

 

did you find your letter ? you can PM me if you want to

 

thanks

 

Martyn

[emmilou1]

Martyn, I've pm'd you

[Fester Tester]

Just another word of warning to those considering using a claims management company...

 

Should Welcome for some reason (they ARE in danger of going into administration after all) not honour their offer, you will still be liable for the 20% fee to the CMC.

 

So not only MIGHT there be no cheque forthcoming, but you will be further in debt to a bunch of [problematic], potentially for hundreds of pounds.

 

And you could very well find yourself being hounded by Welcome's administrators, whose sole purpose in life will be to claw back as much cash as possible in as short a space of time as possible, in order to satisfy Welcome's many creditors. All of whom have very deep pockets.

[richie-paz]

hi

 

im new to this site does anyone have a letter that they sent in to reclaim the ppi ??? u can send it pm if you want i will let you know how i get on

 

 

previous success

 

bank of scotland £845 bank charges

bank of scotland £1057 ppi insurance (a friend did this one)

 

 

thanks

 

richie

[Ricecake]

Hi ours took a week from sending the acceptance form back to receiving the cheque x

[hulldebtor]

Mine took ~10 days from accepting the offer, however the cheque that arrived was a couple of hundred less than i had accepted. I cashed it (thank you welcome) and then immediately sent them a copy of their original offer that i signed, with the letter that accompanied the cheque, stating i accept the cheque as part payment only and want the balance -

NB; Being pessimistic about welcome, i thought there was a chance the cheque may not be honoured, so took it to a cashing place who took £30 for cashing £700 - they had to ring welcome for an authorisation code and could not get through - after 40 mins they waived procedure and gace me the cash - looks like welcome are inundated with claims and pay outs

[Sand-Dancer0191]

Be wary of these offers ..as the final cheque may be less than quoted due to a clause in the offer.

ALL arrears will be deducted before the money is released.

[cityredgirl]

Im still waiting i sent a reminder last week. I have contacted FOS still haven't heard anything, but im going to keep my fingers crossed that i get a nice offer through the door this weekend!

[Fester Tester]

I'm guessing that didn't happen then?

[cityredgirl]

Still not heard anything and ive been waiting at least 12 weeks. Not a happy bunny.

[cityredgirl]

Anybody around here to help me x

[Fester Tester]

I'm going to go out on a limb here and suggest that Cattles/Welcome have more pressing matters to attend to at the moment... like hoping against hope that the Citi buyout goes ahead.

[photoworks]

Does anyone have a template letter to accept an offer of ppi refund ?

 

Thanks in advance.

[ims21]

Does anyone have a template letter to accept an offer of ppi refund ?

 

Thanks in advance.

 

There isn't a template for this.

 

Want to start your own thread and tell us about it? Are you sure the offer is the correct amount etc?

 

ims

[spots1]

Had a text today from Welcome asking me to contact one of their people on the 08452937427 number !

I will not be doing this as I have no reason to speak to them... the account is fully in order and have all the authorisation nos for payment... and being paid each month the full amount as this is a secured loan ...any one else had this recent ?

 

I will await a call to tell them to write to me if they wish to discuss anything ....got me wondering though ...only thing I can think of is I do not pay by direct debit !! ha ! ha! and i will not do either !