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Welcome Finance : PPI and Defualt


inthenook7672
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Just a quick one for you all.

 

I started PPI recovery against WF in November 2009 but due the nature of not only the miss sell and the fact there loan agreement was actually never actually a legal document. This required having to take the compliant through a my cousin who is a fraud investigate amongst other things. Now since I started the complaint I have defaulted on the loan the PPI was part of and the property to which is was the second charge on has been re-possessed, by the mortgage company.

 

Now I was contact this week by my cousin to say that W.F had for a year been telling us the broker that sold me the loan was everyone but them. But have now actually admitted it was them that sold me the loan and that they have agreed a £4500ish compensation. However due to the default they have said this will go towards compensating them for this. However how would I stand if the reply I gave them was that if they had not acted as a irresponsible lender. Then there would have been no default and they would still be receiving payments not only that, I would still have my house. Just a thought but I remember something similar happening before and did not know if anyone else had experienced a similar experience. They have said in not so many words that they have been playing delay tactics for the past year, and I should have had my claim settled in January 2010.

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I think you may be better off on the legal forums with this one.

 

Sounds like they have been very naughty. The delaying tactics are the norm for them.

 

May be interesting to see how much you can claim. - I think you could claim back all the charges they have added to your account.

 

If Welcome have admitted to you that they sold you loan, (and possibly any insurances too), there could well be hidden broker fees.

 

Have you sent an SAR to them?

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