welcome finance and ppi **WON**

[karen654321]

Hiya i hope someone can help.

 

My husband bought a car through welcome finance. After finding this site and reading through we were made aware that ppi insurance is not compulsory and we did not need to take it out to guarantee welcome being paid in event of loss of job.

 

We wrote to welcome about this using the template letter we found on this site.

 

They got the letter yesterday. Today my husband has had a call asking why its taken 18 months to dispute it..

 

They then said they would get back to him tomorrow but if they do cancel it, my husband will have to go down to welcome and sign a new credit agreement as the old one would then be incorrect.

 

I dont know if this is right. My worry is that we would be signing for a new loan although they didnt say that over the phone.

 

Are we within our right to take the new agreement home and get it properly looked at before signing it?

 

Does is sound right that we would have to sign a new agreement?

 

any help would be much appreciated

 

thanks

 

karen

[overflow]

Hi Karen

 

Dont know if youve read my thread re my daughters fight with them.

 

They suggested this to her to at one point but I advised her not to sign anything, I personally would not trust them after all the blatant lies and so many lame excuses thay have fed her.

 

If your interested the thread is

 

Mis-sold PPI v Welcome

 

Im just about to update it hope perhaps it can help you in some way.

Keep me posted as to your situ

regards:)

[crampers]

no knowing the in and outs of it i do not think you would require a new agreement just cancelling an optional insurance surely the credit agreement remains the same find out who the ppi is with (insurance company) write to them direct and cancel ,if not phone the financial ombudsman

[overflow]

My daughter has been told she has to sign new agreement as well. I rang the Norwich Union for her but they said as Welcome paid the PPI up front they have no record of my daughter, so she's hit a wall on that idea

[karen654321]

Hiya welcome have contacted us today stating that all they could do is cancel the ppi from now but arent able to refund any. I dont really know what the next step is. Ive asked for there reply in writing.

I dont know if there is a second letter i send them or what really.

I would be grateful of any suggestions

 

karen

[karen654321]

Hiya, Ive sent out the second letter i found on here just stating that the ppi was missold and i want it refunded within 7 days. Im not sure if i will get a reply to this letter but i presume the next step would be to start court proceedings.

Would it be the mcol for reclaiming ppi?

 

thanks in advance for help

 

karen

[karen654321]

hiya

Got a reply today basically saying that the policy was not mis sold. the documents were signed and thats that. I presume the next stage would be mcol but i havent got a clue how to work out the amount to claim or what to write in the poc.

any help would be appreciated

 

karen

[hellhasnofury]

hiya

Got a reply today basically saying that the policy was not mis sold. the documents were signed and thats that. I presume the next stage would be mcol but i havent got a clue how to work out the amount to claim or what to write in the poc.

any help would be appreciated

 

karen

 

Hello Karen,

 

Of course they will deny it was mis-sold and it is all your fault, you signed it didn't you. Only because you have infact been mislead by them. If you thought for one minute you would have got the loan without it, I am sure you would have told them that you did not want it. Did they give you a choice?????? They will deny it up to the point of giving you a cheque:eek:

 

Have you cancelled the policy now and did you get any refund. and I do hope that you did not sign a new agreement:eek:

 

You have stated that you do not have a clue how to work out the amount to claim. Have you done a S.A.R - (Subject Access Request)? and got a breakdown of the cost of the premium and the interest that was applied and the term it ran for.

 

Maybe take a step back and think about your next move before you rush into a court claim. You need to do your homework and get the information right before you do this. Sorry if I have misunderstood the point you are at, but can you post up the breakdown on the thread.

[karen654321]

Hiya hellhasnofury, Thanks so so much for your reply. I have wrote them a letter to cancel the policy but not heard anything back from that letter yet. That was 2 weeks ago today. So no i havent been refunded anything yet.

They still have 15 days left on the sars i sent them so havent got that back either.

Didnt sign a new agreement no. And we wont either. Read lots of threads about welcome now and no way would put our names to anything else of theres.

Thanks for your advice and help regarding this

 

karen

[itsmeandonlyme]

hi Karen,

 

have you complain to FSA?

 

If not, than please write to them and explain how the ppi was mis-sold....

 

 

regards,

 

itsme

[hellhasnofury]

hi Karen,

 

have you complain to FSA?

 

If not, than please write to them and explain how the ppi was mis-sold....

 

 

regards,

 

itsme

 

Hello Karen,

 

I agrre with itsme have a read to this link

 

Consumers to benefit from PPI refunds agreement

 

Maybe ring to write to the Financial Services Authority for advise

 

Also sent another letter to welcome re your refund, giving them a gentle nudge to get a move on quoting what the fsa are saying:D

 

When you get your sar, there may be move information to work on re the mis-selling of the ppi,

 

Have you sent a CCA request for your original agreement? iF MAYBE CONSIDER THIS oops sorry hit the caps button:-o

 

You will find the template letter in the general debt section under the sticky DCA templates, you need letter N send it with a £1 postal order recorded delivery and start counting the days:D

[karen654321]

thanks itsme and hellhasnofury.

 

Thanks for that. I have actually done the cca request and they sent a copy with the last letter regarding the ppi.

 

So basically now im best to wait for the sar to come through and also contact the fsa.

 

thanks so so much for your help

 

karen

[itsmeandonlyme]

Karen,

 

send them a complaint, explaining how PPI was mis-sold and what they told you when you took the loan...how it happend and what circumstances you were in. There is a small copy on my thread you can read.

 

If we all do it...the FSA will iventually fine Welcome....for misleading people..Well, they deserve it...

 

 

regards,

 

 

Itsme

[karen654321]

Hiya itsme,

Thanks for that have done it and posted. Should i get a response from the fsa?

Sent second letter recorded to welcome today stating that the ppi should be cancelled and that i will disagree with there letter that it wasnt missold and will be claiming the monies back.

 

Will let you know if and when i get a reply.

 

thanks for all your help

 

karen

[itsmeandonlyme]

Great,

 

you can keep FSA apdated with your claim, but the most important that they know the way you have been mis-sold PPI...I think it's just a time for the WF owners to pay off..for all the misleading!!!!!

 

Regards,

 

 

Itsme

[karen654321]

Hiya just to update.

I got what looks like a standard letter back from fsa telling me to basically complain to the fos about this missold ppi and that they are unable to deal with individual cases.

Sent off a complaint to the fos. Ive had an acknowledgement back that they have recieved it but nothing else as yet.

 

Sent another letter recorded to welcome (mr scothern) on 26/6 stating that i disagree with hes letter that this ppi policy was not missold and to confirm that this policy should now be cancelled.

Ive heard nothing back again yet.

 

Receieved my statements from welcome and they sent the £10 postal order back (very decent of them lol).

 

I was horrified to see that we have loads of £5.00, £10.00, £20.00, fees taken and also that we have different amounts which we have been told are interest payment for being in arrears. They total about £450.00. Apparantly our arrears are £442.52. So the charges make up for the arrears.

I dont know if we can claim any of this back but welcome any suggestions.

Also at the begining of the statement it states

disbursal of fees £150.00 (i believe is the arrangement fee)

disbursal of interest charges £5972.49 (must be the interest)

disbursal to broker account £8844.00 (amount of the loan)

insurance premiums advanced £3073.35

 

So is this £3073.35 what im claiming back? How do i work out what has been paid already and whats not.

 

This is so so confusing. Keep looking at this and getting no where.

 

HELP!!!!!!!

 

 

karen

[karen654321]

bump

[karen654321]

Hiya, Recieved a letter today from My Scothern stating that he had recieved my letter and can confirm that the ppi has been cancelled. The sum of £1547.15 has been rebated to our car loan account.

 

Also as we have no evidence to support my allegations of mis selling ppi please accept this as a final response although i can escalate claim to the ombudsman.

 

Well i have already done that and ive had a letter back saying that it will be looked into but reading up on welcome on this site it looks like it may have to go to court. omg

 

Ive found some figures for the ppi and im still not sure how the refund was worked out and what exact figure im now claiming i wonder if someone could have a look for me

 

ppi policy term in months 48

price included ipt £2328.39

interest £1117.49

total payable £3445.88

monthly payment £71.79

 

credit cash advance £272.69

acceptance fee £4.63

insurance payments £94.76

 

which makes the monthly payments £372.08 which we pay weekly £100

 

i dont understand the ipt £90.64

 

also it states the apr 23.9%

and the flat rate 12%

 

any help would be appreciated

 

thanks

[karen654321]

bump

[karen654321]

Hiya, dont really know what my next move is now. I have sent the standard letter for ppi to be refunded. Ive sent the lba and ive got a reply saying that basically they dont agree its been missold and unless i can basically prove it was missold they cant help.

 

Also got the same sort of reply with all the charges of £5 £10 £20 £100 in total about £600.00. I sent the standard letter off and the lba but got a letter back stating that there fees are fair etc etc

 

So i presume next stage is going through mcol but i dont feel i know enought to do this.

 

any help or advice would be appreciated

 

karen

[hellhasnofury]

Hiya, dont really know what my next move is now. I have sent the standard letter for ppi to be refunded. Ive sent the lba and ive got a reply saying that basically they dont agree its been missold and unless i can basically prove it was missold they cant help.

 

Also got the same sort of reply with all the charges of £5 £10 £20 £100 in total about £600.00. I sent the standard letter off and the lba but got a letter back stating that there fees are fair etc etc

 

So i presume next stage is going through mcol but i dont feel i know enought to do this.

 

any help or advice would be appreciated

 

karen

 

 

Hello Karen,

 

Welcome play hard ball, read reidnets thread. He is at the court stage giong to court in December I think??? Maybe sent him a pm, he woont mind he is great:D

 

Now you have already complainted to the FOS, and that can take some time, so my advise would be wait and see what they say, if it is bad news, then go to court.

[karen654321]

Thanks for that. Will have a read up now on reidnets thread. I believe the fos are well behind with things at the moment though so i wouldnt expect to hear anything yet i suppose.

 

How about the charges i presume this will be treated seperatly. So as i have had a letter stating that they are not going to repay them should i start the mcol for this.

 

thanks once again for all your help

 

karen

[hellhasnofury]

Thanks for that. Will have a read up now on reidnets thread. I believe the fos are well behind with things at the moment though so i wouldnt expect to hear anything yet i suppose.

 

How about the charges i presume this will be treated seperatly. So as i have had a letter stating that they are not going to repay them should i start the mcol for this.

 

thanks once again for all your help

 

karen

 

Sorry Karen,

 

Without going back to read you thread, have you sent the prelim and then the lba letters, if you have then it is court time.

 

Best to use the N1 form, you will be able to put more on it, mcol has a word count and you cannot put to much.

 

You will find the n1 form in the bank template letters sticky.

[hellhasnofury]

Sorry forgot to mention, do not rush this, once admitted to the court, if you decide to change it it will cost £35 and waste time, and the court date is going to be far enough away.

[karen654321]

Hiya, thanks for reply. I have done prelim letter and lba for both the charges and the ppi.

 

I presume i treat these seperately. Im looking through other posts and i cant find a suitable poc for this sort of claim.

 

Any ideas?

 

thanks

 

karen