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help needed with welcome and ppi


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Hiya, Enjoyed reading through the threads and experiences with welcome. I dont know if anyone can help me.

My husband purchased a car through welcome finance. After finding this site we realised that we didnt have to take out the ppi to guarantee them getting paid if he fell out of work.

I sent a letter of to them asking for it back as we were missold it.

They have phoned today saying that if they refund it we would have to sign another agreement as this would make the orignal incorrect.Does this sound right? Also do we have the right to take the agreement home before signing?

Im sure its not going to be this easy as i have read about all the trouble a lot of you have had with this company.

The other thing is not being very good with figures i dont really understand all the different amounts on the agreement. I wonder if someone would be able to help work out what amount i would be claiming back. And how much i would have already paid..

 

thanks so so much

 

figures are as follows.

amount of credit for the goods £8844.00

amount of credit for the insurances£3073.39

total amoun of credit £11917.39

duration £48 months

total amount payable for the goods £13412.36

total amount payable for the insurances £4548..48

total amount payable £17960.84

ppi £2328.39

mechanical breakdown £500.00

shorfall insurance £245.00

monthly payments £372.08

apr 23.95%

 

Why is there two sets of figures here?

 

cash price of goods £8845.00

total cash price of insurances £3073.39

total cash price £11918.39

px allowance £1.00

acceptance fee £150.00

finance charges for goods £4317.36

option fee £100.00

charges for credit for goods £4567.36

charges for credit for insurance £1475.09

total charge for credit £6042.45

rate of int on credit pa 12%

please help anyone this is way over my head

 

thanks

 

karen

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Hiya, Enjoyed reading through the threads and experiences with welcome. I dont know if anyone can help me.

My husband purchased a car through welcome finance. After finding this site we realised that we didnt have to take out the ppi to guarantee them getting paid if he fell out of work.

I sent a letter of to them asking for it back as we were missold it.

They have phoned today saying that if they refund it we would have to sign another agreement as this would make the orignal incorrect.Does this sound right? Also do we have the right to take the agreement home before signing?

Im sure its not going to be this easy as i have read about all the trouble a lot of you have had with this company.

The other thing is not being very good with figures i dont really understand all the different amounts on the agreement. I wonder if someone would be able to help work out what amount i would be claiming back. And how much i would have already paid..

 

thanks so so much

 

figures are as follows.

amount of credit for the goods £8844.00

amount of credit for the insurances£3073.39

total amoun of credit £11917.39

duration £48 months

total amount payable for the goods £13412.36

total amount payable for the insurances £4548..48

total amount payable £17960.84

ppi £2328.39

mechanical breakdown £500.00

shorfall insurance £245.00

monthly payments £372.08

apr 23.95%

 

Why is there two sets of figures here?

 

cash price of goods £8845.00

total cash price of insurances £3073.39

total cash price £11918.39

px allowance £1.00

acceptance fee £150.00

finance charges for goods £4317.36

option fee £100.00

charges for credit for goods £4567.36

charges for credit for insurance £1475.09

total charge for credit £6042.45

rate of int on credit pa 12%

please help anyone this is way over my head

 

thanks

 

karen

 

Hello Karen,

 

Please had a look at this link to the office of fair trading

 

Consumers to benefit from PPI refunds agreement

 

Do not under any circumstances that out a new agreement.

 

Right to do this correctly you have to take your time and get all of the information that you need.

 

Have you read this PPI - Some Notes for Claimants

 

Have you sent a Sar ???? and a cca request???

 

I will help you as much as I can. I am not a legal expert, but have been very successful in two big battles of denial with two big companies:D

If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW

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Hiya thanks for the reply. I will read through links now. Ive requested the cca and the sar but that was only last week so they still have time to provide this.

Welcome were going to phone back and let us know about the ppi but we didnt get a call. I sent the letter to them recorded last week stating that i believe the ppi has been missold. Do you know how long i should give them to reply?

thanks

 

karen

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