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Help with Welcome's response to PPI reclaim request.**WON**

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Welcome have sent me a letter today in response to my PPI reclaim letter and I must say I am confused. They say they owe me £810.03.


1. Expect a refund of £695.69 once the loan has been re-structured plus 8% totalling £810.03 to date. The re-structuring they have sent me seems to be restructuring the whole loan minus the PPI not including any payments I have made??!!


2. Apply the full refund to my account and reduce the balance outstanding.


The loan was for £2500.00 over 36 months


PPI amount was £814.87


APR 40.7%


Total amount paid on loan to date: £4605.77


Total amount for whole loan without PPI as per their revised credit agreement: £4398.84.


So if they refund me £695.69, I will still owe them £488.76 which would be repaid under the new agreement.


Does this sound right?


Any advice appreciated.

Edited by jackst01
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I have actually spoken to someone in compliance. They are actually parting with £810.03! I have resigned the agreement and I am expected to pay £488.76 over the 4 months I have left but I will bargain with them once I receive the cheque and try and get the amount reduced with a full and final settlement, so I WON! I WON!


P.S I only wrote the original PPI reclaim letter 3 weeks ago!

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excellent news!!

I am a consumer just like you, please get a second opinion or investigate yourself on anything I advise as I am in no way legally trained. Everything I know has come from the Mighty CAG and fellow CAGGERS. :cool:


If I have helped in any way please click my reputation star and make a donation to CAG to enable us all to continue to help each other :cool:

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  • 3 weeks later...
  • 2 weeks later...

Well done .. . :D


Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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