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blueboy1

Welcome want to offsett PPI reclaim to DCA

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Hi Guys,

 

Over the years, with help from you good people, I have sorted out my old debts and they are long Statue Barred.

I sometimes get a begging letter, but ignore.

 

A Few months ago, I decided to try my luck and use a PPI Company and see if there was any money to come back from these old accounts.

 

To my surprise, a couple have had PPI, which have been over 13 years old and I have collected the money minus the PPI Companies fees.

Totally satisfied and then

 

today, the very Old Welcome Loan people have advised that there is PPI of nearly £2,400, but state that as my 'account' is in arrears, (no its long SB) they have sold the account and are going to send it to the third party.

Are they allowed to do this?

 

The other two were from Old debts and there was no problem.

The PPI Company seem to have accepted this and want to charge me a flat fee.

 

I find this unacceptable and have emailed them, demanding they pull their finger out.

 

Now I need to know, that I am correct and the PPI money from Welcome,

is it due to me or not?

Many thanks for your help

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in welcomes case ONLY yes they can sadly if this is being deal with by the fscs and is prior to 2005 takeout

 

as for paying those twits to get the ppi back

you just lost upto 50% of your reclaim after tax and vat deductions

you could of done it for free yourself.


please don't hit Quote...just type we know what we said earlier..

 

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I know, You are as always mate, the font of wisdom .

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is there anything you can undo...?

 

 

have the CMC charged you for the welcome one too or is that separate from them?

dx


please don't hit Quote...just type we know what we said earlier..

 

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CMC? What is that?

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claims management company...who are??


please don't hit Quote...just type we know what we said earlier..

 

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Consumer Refund Service. Not had any problem with them before. Seems a bit naughty that they want me to pay £240, yet I don't get the PPI lol. But I did sign the forms.

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I would be checking to see if the debt has been legally assigned to whoever before I gave up.


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How do I do that? I have no idea who the third party is. Welcome sold the debt.

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Check your credit files see if its left a footprint or do a DSAR to Welcome for all the data.


We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

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was the welcome refund through the FSCS by any chance?

theres some kind of legal wavier with welcome

where by they don't have to refund the PPI to the borrower

 

but it seems to have something to do with the date the agreement was signed post 2005

 

but even if theres no NOA welcome could then still pay it off the debt then?

 

its something ive never really understood


please don't hit Quote...just type we know what we said earlier..

 

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Actually, I would be having look at Welcome.

 

When a company sells on debts, they can assign the rights to the debt but they cannot assign the duties. This means that if they have mis-sold you PPI and they owe you a duty to repay it then it is Welcome which must repay the money to you. The rest of the problem is between them and their assignee.

 

This can cause a lot of fun because they have no right to pay the money to the assignee. They are obliged to pay you and course, they will not be able to get the money back from the assignee. Apart from anything else, the assignee has probably bought the debt for less money even than the value PPI.

 

Oh how we laughed.


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Thank you BankFodder, I'm on it now

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Let me just point out that I'm not sure what DX is referring to when he mentions a waiver and the FSCS. This is not something that I have heard of and it may well be relevant and could alter my response above.


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We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

If you want advice on your thread please PM me a link to your thread

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that's the best explanation ive seen in years

shame its a CMC mind


please don't hit Quote...just type we know what we said earlier..

 

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Thanks as always for your help.

I have decided to try and get the PPI from welcome myself.

They have agreed there is PPI and want to send it to a third party Debt collector.

 

I have rang Welcome Finance and the DC is DCL Hillsden.

They are adamant, even though the debt is long SB, that if I sign the agreement for return of PPI, they will give the DC nearly £2400.00.

Any suggestions?

Or do I just let it go?

 

There is no way I am signing the form for a DC to get hold of that money.

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no quite correct

 

 

just as a point

is this from/on behalf of the FSCS working at welcome?


please don't hit Quote...just type we know what we said earlier..

 

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That I have no idea to be honest

 

The letter is from Welcome Finance itself

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can you scan it up please to PDF

follow the upload


please don't hit Quote...just type we know what we said earlier..

 

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I've uploaded the files but where are they on here lol

 

Here we go

letter1.pdf

Edited by dx100uk
single pages uploads redacted and merged to one file - dx

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did you send that sar?


please don't hit Quote...just type we know what we said earlier..

 

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Where did the other attachments go?

 

I posted them up tonight?

 

Sorry, haven't sent a SAR as was not going to bother with the PPI as Welcome Claim that if I sign the acceptance form, all the PPI money will go to Hillsden who have bought the debt long ago for pennies.

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