Welcome Finance - Statute Barred? PPi claim rejected but now chased by EOS. Please help...

[Maudymumfuzz]

Hi

I have finally dug out all 3 of my loan agreements for WFS.

 

 

I did issue a PPI refund request back in 2007 but they point blank refused

and due to health reasons i hadn't the energy to pursue them.

 

 

I have recently had success with black horse and wondered how i proceed with Welcome,

 

 

i have already contacted the FSCS regarding the 2 most recent loans

but looking at the paperwork they were both re-finances of the first and that one was pre 2005.

 

 

Can anyone advise?

 

 

the net searches have suggested i call them but im not sure about that

- they were pretty awful to deal with back then

 

Huge thanks

 

Maudy x

[dx100uk]

have you all the statements?

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?318646-PPI-Single-Premium-Your-questions-answered(1-Viewing)-nbsp

[Maudymumfuzz]

Hi,

I have statements for two of the three - the middle one i dont seem to have and the ones i do have were sent as a result of an SAR when i last tried to claim...

[dx100uk]

when was the last sar

[Maudymumfuzz]

I think it was back in 2007.

 

 

I have now filled out all the spreadsheets for the PPI amounts and interest

so i have the figures at last, just need to know what to do with it now

 

I have seen some people say that they called them and others have written but im not sure which is the best route,

 

 

i only have one which is pre 2005 and the FSCS are sending forms which will cover the other two so its just the pre 2005 i need to deal with.

 

Thank you again

 

Maudy

 

Without having the statement for the middle loan i used my bank statement to complete the PPI spreadsheet for that one....

[dx100uk]

ok so you have the complete chain in one statint sheet covering all loans and PPI+int rollovers etc etc.

 

 

dx

[Maudymumfuzz]

I have just spoken to WFS and they advised that its actually DCF who we need to contact.. Direct Car Finance as the original loan was for a car we had.... how on earth do i start trying to find them

 

I have completed 3 sheets as i didnt know how to work it out any other way but now WFS have advised that we need to contact direct car finance for the first one.

Do we need to treat them all separately or not then?

My head hurts

[dx100uk]

were all the debts in a chain?

i'e a new one refinanced or 'closed ' the previous one

by paying it off by part of the new loan?

[Maudymumfuzz]

im not very helpful am i sorry

 

 

Black horse was much easier!!

 

 

We had a car from Direct Car finance in Jan 2003

- finance, ppi and warranty etc from welcome but provided by DCF.

the car was returned in 2005 as i fell into poor health

 

 

the shortfall was put into a new loan and we had some cash too (i think),

then that too was re-done again in august 2006 as welcome contacted us and offered us a 'top up' so to speak

and stupidly we took it..

 

 

I am now panicking because i cant find any trace of DCF

- its over 3.3k ppi for the first one alone.

 

I really appreciate your help dx

[dx100uk]

i'll be back later

 

 

https://cse.google.co.uk/cse?cx=partner-pub-0964707606882478:652l7hswbgv&ie=UTF-8&q=Direct+Car+finance&sa=Search+CAG#gsc.tab=0&gsc.q=Direct%20Car%20finance&gsc.page=1

 

 

the issue here is that even thogh DCF charged it

welcome continued to include it throughout the refinancing.

so they are responsible.

they'll always wriggle.

 

 

what you need to do is read this link.

http://www.consumeractiongroup.co.uk/forum/showthread.php?318646-PPI-Single-Premium-Your-questions-answered(1-Viewing)-nbsp

 

 

then calc the chain properly?

[Maudymumfuzz]

HI dx,

Wow thank you so much - more bedtime reading for me!!

 

 

I think this is why i gave up back in 2007 but the fact that i have a cheque on its way from black horse (£3.4k)

has inspired me to give it a bash!

 

 

I have filled out the 3 forms (stat interest) already so that may have saved me some time

and i will go through that tonight.

 

 

Will it be WFS i end up contacting then do you think?

 

 

How on earth will i make them listen

- thats its actually them rather than DCF

who is responsible..

. Do i still need to contact FSCS at all?

 

Sorry for all the Q's

 

Maudy x

[dx100uk]

lets get things in order first

 

 

welcome ppi staff are operating under fscs rules if you read a few welcome ppi threads too

[Maudymumfuzz]

Thanks dx - so once i have read up on everything in your links and i have completed the spreadsheets etc - shall i come back at that point or do you have an idea of which way i am needing to send which claim to?

thank you

 

I've printed it out and read up on the appropriate sections - the link for the spreadsheet isn't valid... do you know where i can find a working one?

Thank you

[dx100uk]

the botton line here is you got done over from day one

they obv did VS rather than VT

 

 

dx

 

 

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

[Maudymumfuzz]

Thank you dx

- the first attachment is the one i have completed (3 times - 1 for each loan agreement).. is that what i need to do?

 

I have spoken to WFS just now and they insist that its DCF who are responsible,

i called the number they gave me and spoke to them (they are now called the funding corporation)

and they said that due to our car loan commencing in January they are not liable,

they took over in May 2003.

 

 

She said DCF are in liquidation and there's not much we can do she also said its whoever sold the policy i.e DCF...

 

I'm crying inside!

 

 

Proper annoyed because if welcome had told me this when i first tried to claim back in 2007 we wouldn't be in this position..

 

 

. I can't find much info on anyone who has dealt with DCF on the boards either... what do you suggest?

[dx100uk]

its really better that you don't keep ringing around all these people

because all they will do is fob you off.

 

 

you need to carefully study the link I sent.

there are various scenarios there

yours will be the one whereby a loan was refinanced several times in a chain.

you only need ONE spreadsheet.

[Maudymumfuzz]

OK sorry..

. i dont honestly know where to start, and im obviously panicking.

I will have a brew and re-read the info - sorry to be a pain.

 

 

Black Horse was so easy in comparison so it's a bit of a shock to be told all this

hopefully my shrivelled brain can make some sense of it!

 

If i only need one spreadsheet

- is that because the same loan has in effect carried on for many years?

 

 

I'm just confused because the FSCS said they will take care of the latter two you see

and i dont want to put info on there that doesn't relate to the info they are dealing with if that makes sense.

 

 

I have attached a copy of the sheet which i have attempted

- probably wrong knowing me!!

 

 

Does it look like i have done it right?

I took the ppi amounts from the statements provided by WFS

and input them with the dates that we actually paid them...

Example.pdf

[dx100uk]

for how you do a spreadsheet i'e you paid £51.56 PPI each month you ACTUALLY paid the full PCM

that much is correct .

 

 

what you need to calc and sadly findout.

is IF lets say one loan was refinanced into the new one

IF you got what was called a rebate [payback] of the [ending] PPI agreement you'd yet paid for the refinanced loan

 

 

if you didn't then lets say a loan had £3000 PPI added [front loaded] at the start

then whilst the loan existed , you paid the loan off you also paid back say £1500 PPI through its monthly levy

 

 

that then leaves £1500 PPI still on the loan

 

 

that then gets refinanced into the new loan

has MORE int added and ofcourse a NEW PPI sum added

 

 

now if you didn't get that rebated [welcome never did that!]

 

 

you can see why each is linked and you need to do that calculations.

 

 

as they were ALL linked

I cant see how anyone can say they can only investigate one or two of the chain.

 

 

dx

[Maudymumfuzz]

Hi again dx,

I have looked at the loan agreements and honestly can't work out whether

or what part if anything was carried over to the subsequent loans..

 

 

i have posted pics of the later two (i do have the first also) and wondered if you could advise.

 

 

. apologies for the time its taken but i have chemotherapy twice a week

 

 

so im trying to fit it in around when im well enough to do so

 

 

I cant tell you how grateful i am for your help in the first place...

 

maudy

3rd Loan.pdf

2nd Loan.pdf

[dx100uk]

know the score mrs has it 2008 and now again.

 

the agreements simply tell you - 'you had ppi' and how much was front loaded

they don't tell you how much was left when the loan was refinanced

 

 

the statements tell you that

 

interesting to note mind

they've shot themselves in the foot

just seen they've detailed how much WAS carried over!

 

amount used to settle loan...226.32

 

 

and more PPI

 

2nd scan is a bit blurred.

might be an idea to do a few 300 dpi scans and pop them all into a word doc and attach that.

we could have a go at working things out better .

 

 

dx

[Maudymumfuzz]

dx - im sorry your good lady is going through it too its rotten but it keeps me going for now...

 

I have scanned the statement part too

because theres a lot on there i dont understand for instance .

 

 

..Capitalisation - theres loads of those.

 

 

. i dont have a statement for the middle loan which is odd as they have provided the earliest one..

 

I will do as you suggest though and try to put into one word doc and see if that makes more sense.

statement.pdf

[dx100uk]

why don't yo phone welcome and ask why

relating to the above

seems odd to me.

 

capitalisation is their word for interest

 

your scans need to be a slightly better DPI

click on your upload

and see if you can see them clearly

I cant.

 

 

dx

[Maudymumfuzz]

It's our office scanner so that might be why although if I click on it I can see it ok

but will try to work out how to upload a clearer attachment.

 

 

The statements I have were sent to me when I did the SAR back in 2007

so I just assumed that was all they had and I've had to use my own bank statements

along with the loan agreement to calculate the payments made for that loan.

 

 

I will try and call them tomorrow

- is there likely to be any other info on there that the loan agreement doesn't show already?

 

Huge thanks as always.

[dx100uk]

sar welcome again specifically for that account then.

 

 

if you want when this is done

scan the stuff as jpg and you can email it all too me

[Maudymumfuzz]

you have done so much already

- more than i could ever thank you for please know that i am extremely grateful.

 

I have just called WFS and they are going to send me the missing statement...

. will take about 20 days.

 

I still haven't had the forms from the FSCS

- do you think thats too long to wait

(just over a week since i called them)...

 

Thank you...

 

In the meantime i have scanned all docs relevant to the first two at 300dpi and saved as pdf which i can upload anytime if that will help