Welcome Finance - This company needs to be banned.

[postggj]

any thing else andy

[pt2537]

thanks pt

 

it is to serve on direct group to release details onhow much insurance premium direct group received from welcome, the true ammount, not whats on the agreement

 

how much direct group paid norwich union, the so called underwriters

 

 

quote used

 

you by a jumper from m&s, costs 20 quid

 

real cost

 

one quid to factory

Hmm, im not entirely sure that you are entitled to that info without good reason

 

if you could show for example that there was a commission paid between these companies and one was acting as your agent then you could argue that they are in breach of fiduciary duty and that you are entitled to disclosure of commissions paid in secret

 

however, im not convinced this is the case here

 

word of warning, get it wrong and you are looking at legal costs of at least £2k minimum so you must not go headstrong into this

[andie_303]

thanks pt

 

it is to serve on direct group to release details onhow much insurance premium direct group received from welcome, the true ammount, not whats on the agreement

 

how much direct group paid norwich union, the so called underwriters

 

 

quote used

 

you by a jumper from m&s, costs 20 quid

 

real cost

 

one quid to factory

 

The quote from the manager at DG was...

 

"the reason people don't want to give you the information is you don't by a jumper from M&S for £20 and then ask how much they paid the factory"

 

Basically PT - I want DG & NU to disclose what part of my premium went to who and how much they each were paid, if there were any brokers fees or other secrets not disclosed that I have paid for!

[postggj]

bingo andy

[andie_303]

Hmm, im not entirely sure that you are entitled to that info without good reason

 

if you could show for example that there was a commission paid between these companies and one was acting as your agent then you could argue that they are in breach of fiduciary duty and that you are entitled to disclosure of commissions paid in secret

 

however, im not convinced this is the case here

 

word of warning, get it wrong and you are looking at legal costs of at least £2k minimum so you must not go headstrong into this

 

Ok hypothetical question - what if a company has denied paying commisions on agreements but you come across something that shows otherwise - would that be enough to get this information?

 

Is there no way I can compel them to tell me what parts of money I paid were shared out?

[pt2537]

Ok hypothetical question - what if a company has denied paying commisions on agreements but you come across something that shows otherwise - would that be enough to get this information?

 

Is there no way I can compel them to tell me what parts of money I paid were shared out?

if you have reason to believe that there was a commission paid and you have not been told then you can ask the court to order disclosure under CPR 31.16 of the underwriting sheet which would have been produced when the loan was written

 

this will show all the commissions etc however you will not get it without a bloody good argument and if you dont have a good argument then you may still get the order for disclosure but you will get the respondents costs too and that can run to a couple of grand

 

think before you fire off an application

[andie_303]

oh PT has gone! - this is so fustrating!! I thought I was advised I could get this information through pre-action disclosure now it seems otherwise.

 

I don't get why I can't be told where my money has gone??

 

I mean it's like basically they can do anything they want charge me 2k and pass say £100 and I can't find out???????

 

so angry

[postggj]

easy

 

knowing pt like i do

 

he is thinking

[pt2537]

oh PT has gone!

:lol: oh no i havent

[andie_303]

if you have reason to believe that there was a commission paid and you have not been told then you can ask the court to order disclosure under CPR 31.16 of the underwriting sheet which would have been produced when the loan was written

 

this will show all the commissions etc however you will not get it without a bloody good argument and if you dont have a good argument then you may still get the order for disclosure but you will get the respondents costs too and that can run to a couple of grand

 

think before you fire off an application

 

does the same apply to brokers fees??

 

The top and bottom of it is what I was charged for my policy I believe has been exagerrated - i.e. all the money has not been passed on or their are hidden things that I have paid for.

 

Is this the only way to find this out??

[postggj]

pt

 

the other thing we are trying to find out is what extent norwich union are involved in this

[pt2537]

the key is knowing what you are asking for,

 

you need to say, I require disclose of XXXXX as i have grounds to believe that there is an undisclosed commission which i have not been told about and as a result i would be entitled to recover that commission

 

without identifying the docs you need how can you ask a court to order them to disclose it

[andie_303]

:lol: oh no i havent

 

 

ahhh the good old pantomime days

[andie_303]

the key is knowing what you are asking for,

 

you need to say, I require disclose of XXXXX as i have grounds to believe that there is an undisclosed commission which i have not been told about and as a result i would be entitled to recover that commission

 

without identifying the docs you need how can you ask a court to order them to disclose it

 

perhaps I should see what DG send - and we know they have the information as they told me they did.

 

and i suppose a judge wouldn't see the funny said if the proof i gave him was their M&S analogy - Even though that analogy said everything that it needed to

[pt2537]

yes but the trouble is that there is no duty on M&S to tell you what it costs them to produce a sweater

 

even if you buy from them, you have no right to know this, morally or legally

 

so you would fall over on that analogy if you used it with a judge

[postggj]

the thing is,

we all know we have been ripped off big time

all we are asking is by how much,

this norwich union biz has still not been answered with these policies,

we still have no proof that norwich union has anything at all to do with all this,

 

we need to know the full picture

 

welcome

direct group

norwich union

 

every thing goes back to welcome

[andie_303]

yes but the trouble is that there is no duty on M&S to tell you what it costs them to produce a sweater

 

even if you buy from them, you have no right to know this, morally or legally

 

so you would fall over on that analogy if you used it with a judge

 

I was joking I wouldnt really have done that.

 

One thing I do know and can prove is if the prices paid have not been inflated through hidden charges then they have DEFINATELY underpaid IPT and i thought as this is paid on my behalf that could give me a way in??

[082stewie]

Hi Pt,

I have several questions with regards to sharing of information.

I believe, as part of the agreement between me and the lender, information held about me should be freely available to the administrators of my insurance and the underwriters.

When lodging a claim or wanting information the lender should be taken out the picture and I deal with the administrator and the underwriter. In essence they pay for my premium should I need to claim, not the lender.

The lender has appointed a company to insure my loan that I have paid for and continue to pay for. But does not include needs and demands statement and the information I need. And when I require information about the policy I hold with the administrators, I am re-directed back to the lender? Why is that?

When trying to communicate with the underwriters, I get pushed back to the administrator or lender. Why? Looking over the policy document it’s very clear the information should be freely available to either the administrator and the underwrite as stated in the policy overview. What strikes me as suspect, is the administrator and underwriter is based in the same building but do not share my information? It contradicts my policy document.

How can I be sure I am correctly insured when the underwriter does not even know I exist as no policy in my name is held. Only a “block policy”

Here are a few snapshots I have taken from my policy doc.

http://i448.photobucket.com/albums/q...wie/PPIDG1.jpg

http://i448.photobucket.com/albums/q...wie/PPIDG2.jpg

http://i448.photobucket.com/albums/q...wie/PPIDG3.jpg

[082stewie]

yes but the trouble is that there is no duty on M&S to tell you what it costs them to produce a sweater

 

even if you buy from them, you have no right to know this, morally or legally

 

so you would fall over on that analogy if you used it with a judge

 

I think the whole M&S thing is a joke and bit of a **** take and treating you as a child, you are not buying a product here. You cannot hold it in your hands and feel the M&S qaulity (even though some poor child made it - but thats another thread) You see what you are getting and I am sure the same basis should apply when buying a service from Welcome finance.

 

You should know exactly what you have and who it is backed up by. When you buy M&S and it breaks you know you will either get a refund or some protection. And in our case, we are not even so sure.

Are you really buying a M&S product or is it really Primark (And before I get nailed. THERE IS NOTHING WRONG WITH PRIMARK!! Other than little kids making the items - But again another time and another thread)

Stewie

[postggj]

also

 

this block policy

 

is it infact legal

if it exsists

same policy number allways

 

most important, underwriter having no details,

i could be a 100 a day smoker, be a sky diver and drink 2 bottle of scotch a day,

great advert for life insurance,

 

is this legal

[082stewie]

also

 

 

 

most important, underwriter having no details,

i could be a 100 a day smoker, be a sky diver and drink 2 bottle of scotch a day,

great advert for life insurance,

 

is this legal

 

Hey nothing wrong with the above. Ahhhh the good old days!

[andie_303]

I think the whole M&S thing is a joke and bit of a **** take and treating you as a child, you are not buying a product here. You cannot hold it in your hands and feel the M&S qaulity (even though some poor child made it - but thats another thread) You see what you are getting and I am sure the same basis should apply when buying a service from Welcome finance.

 

You should know exactly what you have and who it is backed up by. When you buy M&S and it breaks you know you will either get a refund or some protection. And in our case, we are not even so sure.

Are you really buying a M&S product or is it really Primark (And before I get nailed. THERE IS NOTHING WRONG WITH PRIMARK!! Other than little kids making the items - But again another time and another thread)

Stewie

 

You're right stewie - However, they may have thought that what they were saying was an attempt to take the p**s out of me but essentially - THINK about what they are saying - Their p**s take has just told me everything I suspected!!

[andie_303]

also

 

this block policy

 

is it infact legal

if it exsists

same policy number allways

 

most important, underwriter having no details,

i could be a 100 a day smoker, be a sky diver and drink 2 bottle of scotch a day,

great advert for life insurance,

 

is this legal

 

or you could be someone with a medical condition that means that she gets refused travel insurance - yet 2k worth of PPI, Life and Medical insurance - not a problem!!!

[postggj]

andie

 

thats my point

 

there has to be some thing in the regs on selling insurance that underwriters have to know before doing a policy.

say a 100 grand life insurance and you live the high life

 

i dont think so

[postggj]

i like the bit that says

we will make payments direct to the lender

but you still have to continue the payment to welcome while dg sort it out.

so why no payments to you