welcome finance

[sanpez]

Sanpez

 

Still Looking Into This

 

You Would Not Have Welcome Doing The Car Finance And The Funding Group Do The Ppi Etc

 

Cat And Dog

 

I Think This Is The Car Salesman Being Commission Greedy

 

Give Me A Few Days To Get To The Bottom Of This

Thank you greatly appreciated

[sanpez]

Hi Pt,

 

I have several questions with regards to sharing of information.

I believe, as part of the agreement between me and the lender, information held about me should be freely available to the administrators of my insurance and the underwriters.

 

When lodging a claim or wanting information the lender should be taken out the picture and I deal with the administrator and the underwriter. In essence they pay for my premium should I need to claim, not the lender.

 

The lender has appointed a company to insure my loan that I have paid for and continue to pay for. But does not include needs and demands statement and the information I need. And when I require information about the policy I hold with the administrators, I am re-directed back to the lender? Why is that?

 

When trying to communicate with the underwriters, I get pushed back to the administrator or lender. Why? Looking over the policy document it’s very clear the information should be freely available to either the administrator and the underwrite as stated in the policy overview. What strikes me as suspect, is the administrator and underwriter is based in the same building but do not share my information? It contradicts my policy document.

 

How can I be sure I am correctly insured when the underwriter does not even know I exist as no policy in my name is held. Only a “block policy”

 

Here are a few snapshots I have taken from my policy doc.

 

http://i448.photobucket.com/albums/q...wie/PPIDG1.jpg

http://i448.photobucket.com/albums/q...wie/PPIDG2.jpg

http://i448.photobucket.com/albums/q...wie/PPIDG3.jpg

Hi Stewie can I ask how you got your policy document as I was never given one

[sanpez]

Please could someone advise me on this.

The FOS have ruled in my favour against Welcome in that they mis sold the ppi and that they should have offered me stand alone policies. They have told Welcome to re do the loan without the insurances and send me recalculations they have also been told to pay compensation.

 

I have done my own calculations and although my loan finishes in August 2010 with the new calculations it has now finished and Welcome owe me a lot of money.

 

My question is should I cancel my direct debit for future payments and do Welcome have to obey the FOS

Many thanks

Sanpez

[postggj]

for a start

 

congrats is in order

 

now the bad news

 

welcome do not have to agree with the fos

 

they would be foolish not to because if it went to court, the court would rule in your favour

 

a letter needs to be sent to welcome stating if no reply with in 14 days , you will be putting the account into dispute.

 

advance warning is the key to cover your self

 

this year the loan finishes

 

they owe you a lot of money with all that contractual interest added on

 

 

was it 200 quid compo awarded

[sanpez]

Yes £200 and 8% interest on the difference per year.

 

It has taken a year for it to be finalised so will carry on holding my breath until the cheque arrives

[postggj]

not to long