welcome finance PPI reclaim

[ruskie]

Hi,

 

Hope you are all well?

 

I have finally recieved my CCA with some interesting reading, i did not even know i had been sold PPI!!

 

Anyway i will upload all my agreement and i would be so grateful if someone could help me on my way with sorting these lot out!

 

 

 

 

 

 

 

 

 

 

Do the figures add up?

Was i missold PPI?

 

Do i have a chance of getting this set aside or binned?

 

Kind regards,

 

R

Edited February 5, 2010 by ruskie

[ruskie]

Just something i spotted, i signed 14 days before Welcome rep did. Does this mean i would not of had a cooling off period?

[silverfox1961]

Hi.,

That link just takes me to your log in page

[ruskie]

silverfox1961 said:

Hi.,

That link just takes me to your log in page

 

Sorry about that hope i have fixed link

 

*Bump*

 

If anyone can give me some advice i would be eternally grateful.

 

I have tried to calculate the figures but it is quite confusing?

 

Cheers Caggers x

[djwigster]

Ok, firstly if you were unaware that you had PPI then you were mis-sold it. Have a look on the PPI section to get a bit more info about the general claiming process and then send something similar to this to get you claim off and running:

 

Welcome Finance,

Mere Way,

Ruddington Fields Business Park,

Ruddington,

Nottingham,

NG11 6NZ

 

Dear Sir/Madam

 

Ref: Account No xxxxxxxxxxxxx

 

 

I purchased the above policies from you in XXXXDATEXXXX but now believe that I was mis-sold these policies for the following reasons: (Add/remove bits to suit your situation)

• Your salesperson implied that taking out the policies would assist my credit application.
  
• Your salesperson did not fully explain the costs of the policies and the fact that interest would be charged upon them.
  
• Your salesperson did not tell me that the policies were optional and that other policies from different companies were available to me.
  
• I am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.
  
• I received no policy details or any information relating to PPI/PAP policies until carrying out a subject access request to Direct Group.
  

Unless you can satisfactorily justify to me that the policies were fair and reasonable I am requesting a full refund of all premiums, and subsequent interest on these payments, that I have paid to date. As I believe I have been deprived of this money I also expect 8% statutory interest, the amount a court would award, to be added to each payment made.

I look forward to a full and prompt response to this letter and for the matter to be concluded within eight weeks or I shall be contacting the Financial Ombudsman to investigate my complaint.

Yours faithfully,

---

Amend accordingly to suit your suituation and send by recorded delivery.

 

I've had a quick look at the figures and the monthly payments x 36 matches the total amount payable. You will need someone to run the figures through a calculator to check that the APR is OK.

 

Im also curious as to what "Interest Goodwill Credit" and "Skip Trace Fee"s are? They're new ones on me!!

 

I also note you have been charged over £200 in telephone/visit charges PLUS another £200ish in "add hoc" fees Not sure whether these are claimable, but hopefully someone else will know.

 

Hope this helps a bit

Edited February 8, 2010 by djwigster
more detail added.

[ruskie]

Thank you very much for taking time to look over my accounts.

 

I will start the PPI claim immediately, as for the charges that have been added to my account, i really cannot understand where they have come from and what they mean.

 

As for the date Welcome Rep signed, it seems it was after the 14 days cooling off period, is the wrong?

 

Cheers again djwigster

 

Using the CAG PPI calculator, i think that it is pointing me in the direction that i should be claimaing back £978.63 + 8% is this from the loan date to today? Cheers

 

Thanks for the letter djwigster, i have now sent this off and await reply....

 

Is my contract in order? If anyone could spare me a few moments to check my contract i would be extremely gratefull

 

R

 

Reading in other threads you have mentioned to get hold of the insurance policy, i have PPI and accident plan.

 

I am also not sure if the figures above have included acceptence fees and interest on the policys that i was mis-sold.

 

Any advice my friends?

 

*bump*

 

If anyone could cast an eye over my statements and agreements i would be very grateful, especially if i have a case to fight!

 

Cheers

R

[Major Player]

dj wigster to answer your questions:

 

Skip Trace fees are fees charged if Welcome use tracing agencies to track down people thay are about to take legal action against. They basically need an address to issue court papers to.

 

Interest goodwill credit is a new one, it looks like they have debited twice and credited once (Therefore debited once) and it could be when the legal action was taken and the court decided the payment to be made that Welcome rewrote the agreement so the attachment payment effectively became the monthly payment.

 

The ad hoc fees are also a concern, there should be good reason for the charges but these seem like they have been added willy nilly which is appalling.

 

The misselling is clear and could be a reason to stop the legal process (You could argue that the PPI made the loan unaffordable).

[ruskie]

Major Player,

 

Thank you for your advice!!

 

I was taken to court by Welcome and i refused again to pay, they put an attachment of earnings on me.

 

I have sent off a letter that djwigster gave me, regarding my PPI

 

I am awaiting response.

 

Is there anything else that i could do?

[Major Player]

Hi it will depend if you went to court or not. If you did not then the process of removing a CCJ may be a bit more straightforward than an Attachment, have you both?

 

If you find that you can't afford to keep up with the installments because of a change in your circumstances, you can apply to 'vary' the order. You may be able to detail the fact that for example you didn't get details of the court case, action etc which could see them remove the Attachment but it does not happen very often.

 

This will involve filling in another form giving details of your new circumstances, which the court will use to decide whether to change or even suspend the previously granted attachment of earnings (Form N244) but there could be a fee to pay on this and this accepts that you should have an Attachment so if you want to get it removed you may need to write to the issuing solicitors, I'll look into it for you.

[ruskie]

Brilliant Stuff Major!

 

I did not go to court

 

I have got a CCJ which i really dont want on my credit file!! I would fight to get this removed and i am not worries about the fee, i would rather pay to remove it than pay welcome.

 

I have a current attachment which i only pay about £30 per month which is not a proplem, but i would love to take it all the way and get it removed

 

I will be a test case dummy!

[Sand-Dancer0191]

I read somewhere that a person missold ppi had the whole agreement thrown out of court as unenforceable...( South Shields County Court) If I remember right . postggi was commenting on it.(sorry if the names wrong posti)

[ruskie]

I read somewhere that a person missold ppi had the whole agreement thrown out of court as unenforceable...( South Shields County Court) If I remember right . postggi was commenting on it.(sorry if the names wrong posti)

 

Thats the dream!!

 

I would love to have that happen, not sure if it would bpossible, but i can see your point and hope that there further advice on this.

[Sand-Dancer0191]

OK...........I FOUND IT...

 

PPI misselling can render CCA loans unenforceable - Very significant for new CCA agreeements

 

 

A recent judgement at South Shields county court may have far reaching effects not only for pre-2007 Consumer Credit Act agreements but also for Consumer Credit Act agreements under the new 2006 legislation.

 

The case which was brought against MBNA in respect of an alleged credit card debt was decided for the claimant predominantly because MBNA were unable to provide a true copy of the original credit card agreement. This is very established law and causes no surprises as this principle has been often tested since 1974. In fact the only real surprise is that MBNA decided to defend the case at all.

 

What is particularly significant about this case is that there had also been mis-selling of Personal Protection Insurance (PPI). The judge referred to this aspect of the case in her judgement and decided there had been an unfair relationship between the claimant and MBNA because of the way she had been sold payment protection insurance.

 

This case is highly significant for claims brought under the old 1974 legislation because it adds another important basis upon which Consumer Credit Act agreements may be rendered unenforceable. This is in addition to the very much more usual ground for an enforceability that the agreement is flawed in some way because it is not properly executed, or that a true copy cannot be produced by the lender.

 

It now seems highly likely that even where an agreement seems to be properly executed, if the agreement has been accompanied by PPI which has been mis-sold, this mis-selling itself is a basis upon which to vitiate the entire loan agreement.

 

This principle that a Missold insurance policy is capable of tainting and invalidating the entire agreement is likely to become a very dominant feature in challenges to Consumer Credit Act agreements which have been concluded under the new 2006 legislation.

 

Whereas the 1974 legislation required very strict adherence to highly detailed requirements in any agreement, as well as requiring a fair and balanced relationship between the contracting parties, the 2006 Act is not so concerned with the form of the agreement and whether all of the I's have been dotted and the T's crossed. The entire focus of the 2006 legislation is upon the relationship between the lender and the borrower and seeks merely to ensure that there is a fair, balanced, transparent and nonabusive relationship between them.

 

The decision at South Shields County Court suggests very strongly that where an apparently fair agreement is accompanied by mis-selling of PPI, then that mis-selling may well be taken as evidence that the lender has exercised an unfair relationship and has therefore tainted the entire loan agreement.

 

This seems to be an entirely satisfactory state of affairs and is probably a very necessary style of reasoning in order to serve as a very strict warning to lenders to do not conduct themselves properly that the consequences for them will be severe.

 

Of course, this was only a County Court Decision. It would need to be decided at High Court or Court of Appeal level to become completely authoratative. Would any finance company dare go to the senior courts and risk a binding decision which would destroy the millions made out of loanagreement tied to [problem] PPI deals? Unlikely, but on the other hand we have seen for years now that the finance industry are incapable of thinking strategically when it comes to litigating against their customers.

 

It is only this kind of far reaching decision that is likely to drum home a properly-learned lesson into the mindset of the finance industry.

 

If you rip off your customers in anyway, then the consequences may well be that you will lose far more than merely a refund of premiums.

 

 

Now was'nt that a good dream !!!!!!!!!!!!!!!!!!!!!!!!!!

[Sand-Dancer0191]

This may also please you

 

I also refer to the website of Francis Bennion, the drafts person of the Consumer Credit Act 1974 and note in particular a PDF document that the honourable Mr Bennion has posted (located here http://www.francisbennion.com/pdfs/f...974-s127-3.pdf ) which states

 

"As the draftsman of the Consumer Credit Act 1974 I would like to thank Dr Richard Lawson for his interesting and well-argued article (30 August 2003) on Wilson v First County Trust Ltd [2003] UKHL 40, [2003] 4 All ER 97. Dr Lawson may be interested to know that I included the provision in question (section 127(3)) entirely on my own initiative. It seemed right to me that if the creditor company couldn't be bothered to ensure that all the prescribed particulars were accurately included in the credit agreement it deserved to find it unenforceable, and that the court should not have power to relieve it from this penalty. Nobody queried this, and it went through Parliament without debate. I'm glad the House of Lords has now vindicated my reasoning and confirmed that nobody's human rights were infringed.

 

167 Justice of the Peace (2003) 773.

 

 

Now work on reclaiming the ppi with a strong view to my last 2 posts , as for the ccj I think it can be set aside (or something like that ) not shure if it can be removed......NEED a more experienced cagger's advice...

[ruskie]

Well that is fantastic news, and i am sure a lot of people on this site would be grateful of such!

 

I am quite new to this but ready to take the fight to another level.

Please could you answer me some straight forward questions to see if/how i progress this.

 

So far

 

I have taken out a loan.

Not paid it off

Got a CCJ

Got attachment of earnings

Still paying this monthly.

 

I have,

Requested CCA

Recieved CCA

Noticed PPI (which i remember being toold i must have but was not sure what it was)

Noticed i had another insurance

First letter sent requesting PPI refund.

 

Where would you suggest i go form here?

 

Kindest appreciation

 

R:)

[Sand-Dancer0191]

Okay ppi I believe on the agreement is optional.The other insurance must be explained and sold to you.Not forced upon you as a condition of acceptance for the loan.

Wait for the reply to your refund request before applying for legal redress.

In the meantime get as much info from this site as pos. The info I copied onto my reply's was obtained from this site posted by others......Its all here INCLUDING Court defence .

It is now just a matter of time....Keep posting updates etc. for more help and advice...

[ruskie]

Hi Guys, been a busy year but i am ready to start my fight again! From my first letter to Welscum regarding my PPI they have failed to reply.

 

So my question is, should i follow this up with another letter or just try to set aside and go to court?

 

I am ready for it!