hi all....update I received a response from my prelim today. this is what it says Final Response to your complaint Thank you for bringing to our attention your queries regarding insurances. I have now reviewed all outstanding issues and thank you for remaining patient while this matter was umder investigation. After looking into your complaint i have found that your contract was signed in march 2002, a copy of which is enclosed. your insurance premiums totalled £1169. as the contract and insurances expired on February 2006 any right to a pro rata rebate that you may have had also expired. I advise however that without prejudice we have agreed to accept reduce payments of £70 per month against you contractual payment of £198.93 and further agree to reduce you balance by a total of £1500, £331 greater than the original premium. No further rebate will be offered. yours a couple of things she has not said anything about misselling!!! she said my insurance premiums totalled £1169 when infact they total £3795.84 (including interest) There was no mention of default removal. she makes it sound like she refunding me more than the insurance cost but has conveintly forgotten the interest. how should i proceed? many thanks J:)

update I have emailed a complaint to FLA......not holding my breath

nevermind i have found what i was looking for on your thread itsme:) ....still reading J:)

I'm guessing you can complain to FSA and FLA and FOS at the same time and there will be no conflict between them all. Also if i was to complain to FOS can i still start court proceedings? dumb, dumb ,dumb:D

sorry to be dumb....again itsme;) but £44.24 surely that wasn't the full amount???? i'm going to re read your thread again never heard of the FLA before this site also FSA, CCA, ABC, ZYX!!!!!

hi flower many congrats. so pleased for you. I had read lots and lots and received some very good advise from some very knowledgable people on here. i will defo consider FO but i have read that they don't work regarding "welcome".... on the other hand i have read that they have helped others get back their PPIs!!!! welcome seemed to be the toughest but that wont stop me(here come some of your favs) !!!!!!!! :D thank you for your advise and again congrats:) J:)

I think I maybe a bit dumb!!!!! Enclosed with letter from welcome there was a page with their complaints handling procedure. At the bottom it says "welcome is a member or the finance and lending association and subscribes to the FLA consumer code or practice" Well i have searched on the FLA website and cannot find welcome as one of their members!!!!! Is this a bit naughty on Welcomes part??

hi everyone well i received a reply only a week after i sent my prelim. they are refering my matter to my local branch!! I originally complained to my local branch and told them i would be claiming missold PPI and i would be doing this via their head office. the lady then told me the matter would be transfered to her, which it has. i'm awaiting a response from her within the next few days but when i originally complained she told me that there would be nothing she can do, which is what i'm expecting her to say again. does anyone think it is worth going to the financial ombudsman????? or shall i carry on with LBA next???

reading this with interest. I have just send prelim to welcome regarding miss sold PPI. Good luck dollies01

Hi itsme. in my opinion i think it will be just a case of deciding if you can come to an agreement or if the matter needs to go further!!!! (but i'm certainly no expert) good luck for monday. i hope they cave in there and then as they will know you are totally serious about your claim. will be thinking of you J:)

hi all well i'm finally ready to send my prelim to welcome. i will be sending it tomorrow and will keep you all posted with the progress. thanks again itsme and vamp:) J:)

right i'm going to start the ball rolling with the following letter. any advise would be great Dear Sir or Madam, Re: Complaint and request for return of Payment Protection Insurance premium and contractual interest. Customer Number: xxxxxx On the 21st March 2002 I took out a car loan from Associates which was later sold to you in or around January 2003. The loan on the car was initially for £3060. This amount was to be paid over 48 months at £119.85 per month, totaling £5752.80. When I took it out, I signed up for Payment Protection Insurance [PPI]. At the time I was experiencing some short term financial difficulties and I told the sales rep I did not require the insurance to which I was told that I could not have the car loan unless I agreed to take the insurance. No claim was ever made under the policy. I now realize following the recent OFT and FSA investigations, that you mis-sold me this insurance policy, which I did not want and did not need. I believe I signed up for the insurance under economic duress and that your actions were unconscionable. I am writing to ask you to refund the premium paid together with interest equal to your APR at the time under the accepted principle of mutuality and reciprocity. Your responsibilities I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law. I am frankly shocked that you have operated my loan account in this way as I had always reposed confidence in your integrity and expertise as my fiduciary. No attempt was made to ascertain if the product provided was fit for purpose, suitable for my needs or if indeed if I really needed it at all. No inquiry was made as whether I had preexisting insurance for accident, illness or unemployment. I was not given a copy of the insurance policy nor were any rights to cancel explained. I believe you manifestly failed in your fiduciary responsibilities, your duty of care. Finally I believe insurance contracts are contracts uberrimae fidei (contracts of the utmost good faith) which imposes on you a “duty of disclosure of all material facts because one party is in a strong position to know the truth.” Inter alia, I believe that you should have disclosed to me that the type of policy you sold me, a single payment premium, did not give a pro-rata refund in event of early settlement. I believe you should have made it clear to me that the policy generated large profits for you. You failed to do this. I believe that you have also therefore failed in your duty of disclosure. Your failure to disclose is misrepresentation at common law. What I require Your concealment of the act of mis-selling has prevented me from asserting my right until now. I believe that there are strong grounds for action against you under common law, statute and consumer regulations. I have calculated that you owe me £1851.89 for PPI plus £369.85 in interest I require a refund of £2221.74 plus a nil balance owing to you. Alternatively I will ask the Court to allow me statutory interest at 8% under S69 of the Count Court Act. My targets to resolve this matter I hope that you will enter into a sincere dialogue with me about this matter and I am writing this letter to you on the assumption that you will prefer to do this than merely respond with standard letters and leaflets. I will give you 14 days to reply to me accepting, unconditionally, my request in principle and letting me know a date by which I will receive payment. If you do not respond, or you do not respond positively, within this time period, I shall send you a letter before action giving you a further 14 days in which to reflect. I believe that this time frame is sufficient for a large company such as yours with its dedicated staff and departments. After that, there will be no further communication from me and I shall issue a claim at the expiry of the second deadline. Yours faithfully, what do you all think???? huge thanks goes to vampiress for all her help with the spreadsheet.

hi will the following be ok to send to FSA??? I wish to make a complaint regarding Welcome Finance. In March 2002 I took out car finance with Welcome Finance. The Finance they offered me included insurance which I told the sales rep I did not want but she told me I had to have it or I couldn’t have the car. I was led to believe that taking PPI was a condition of being approved for a personal loan. I have subsequently found out that PPI is optional and I feel that I was pressurized into agreeing to take this out. Yours sincerely

hi itsme thought i'd best come and join you......fantastic read......long....but fantastic. i want to take your advise and make a complaint to the FSA but the link in your first post is unavailable. i've looked on the FSA website and cannot find the complaints part. could you help me............again!!! J:)

thanks itsme:) yes at the time i took a friend with me and he even remembers me telling the lady i didn't want it and her saying i had to have it. don't worry about how long it takes because without the help of people like you i wouldn't have got this far in the first place. i will read more. many thanks J:)

wow itsme you certainly know what you are doing;) . right here goes first payment was made on 07/05/02 and then monthly around the same date until 07/02/05 (i did miss one payment which was agreed by welcome in july 03)making a total of 33 payments. all these payments were for £198.93. £79.08 of that was for insurances the rest was for car loan. then i never paid anything until 05/01/06. since then i have paid £70 per month for the last 17 months. according to the breakdown of payments they have charged me for bounced DDs some £20 and some £5. £20 - 05/04/05 £20 - 05/05/05 £5 - 05/06/05 £5 - 21/06/05 £20 - 05/02/06 £20 - 05/03/06 £20 - 05/07/06 £20 - 05/08/06 £20 - 05/11/06 £5 - 05/02/07 i have an outstanding balance of 1948.95. they say if i make 7 more payments of £70 then they will write off the remaining balance. regarding what i am claiming for, i was under the impression that they cannot force you to buy insurance so all of it .....if i'm incorrect in thinking this please let me know. many thanks J:)

itsme i cannot post agreement. not sure how to do it! i could email it to you if you didn't mind. many thanks again J:)

thank you so much. i will try and make it understandable!!! overall i had to pay 198.93 for 48 months. this consists of loan and ppi. 3060= loan 46.2%= APR 119.85 for 48 months PPI 915 = 24 months warranty cover 150 = GAP 954 = option to purchase fee 1176.84 = interest (total charge for credit) 41.6% = APR 79.08 to be paid over 48 months. i will try and scan agreement to you it may make more sense

could someone advise me? should i send the above letter? do i have to include a spreadsheet? if i do would someone be able to help me work out how to amend it to my claim? many thanks

hi itsme, i'm so glad you've come along. i could do with some help. will try to make this as brief as i can!!! purchased car in 2002 was told i had to have insurance said i didn't want it, was told i couldn't have the car then so agreed to have it. (same old story) paid for about 3 years (4 year term) stopped paying as had some difficulties. managed to fob them off for about a year. then we discussed a new arrangment for me to pay £70 per month for two years (originally was £198) and they would write off the remainder (approx £1400). i phoned them last week and asked them for a copy of my contract and a breakdown of payments, which i received on monday. so i never actually sent sar or cca but received what i needed with the phone call. (also on my breakdown of payments there were fees of £20 and £5 totalling £155 which i knew nothing about) my next step was the send them the following letter which i found whilst looking through many posts on here xxxxxxx xxxxxxx xxxxxxx xxxxxxx Complaints Department Welcome Financial Services Mere Way Ruddington Fields Business Park Ruddington Nottingham NG11 6NZ 19th June 2007 Dear Sir or Madam, Re: Complaint and request for return of Payment Protection Insurance premium and contractual interest. Customer Number: xxxxxx On the 21st March 2002 I took out a car loan from Associates which was later sold to you in or around January 2003. The loan on the car was initially for £3060. This amount was to be paid over 48 months at £119.85 per month, totaling £5752.80. When I took it out, I signed up for Payment Protection Insurance [PPI]. At the time I was experiencing some short term financial difficulties and I told the sales rep I did not require the insurance to which I was told that I could not have the car loan unless I agreed to take the insurance. No claim was ever made under the policy. I now realize following the recent OFT and FSA investigations, that you mis-sold me this insurance policy, which I did not want and did not need. I believe I signed up for the insurance under economic duress and that your actions were unconscionable. I am writing to ask you to refund the premium paid together with interest equal to your APR at the time under the accepted principle of mutuality and reciprocity. Your responsibilities I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law. I am frankly shocked that you have operated my loan account in this way as I had always reposed confidence in your integrity and expertise as my fiduciary. No attempt was made to ascertain if the product provided was fit for purpose, suitable for my needs or if indeed if I really needed it at all. No inquiry was made as whether I had preexisting insurance for accident, illness or unemployment. I was not given a copy of the insurance policy nor were any rights to cancel explained. I believe you manifestly failed in your fiduciary responsibilities, your duty of care. Finally I believe insurance contracts are contracts uberrimae fidei (contracts of the utmost good faith) which imposes on you a “duty of disclosure of all material facts because one party is in a strong position to know the truth.” Inter alia, I believe that you should have disclosed to me that the type of policy you sold me, a single payment premium, did not give a pro-rata refund in event of early settlement. I believe you should have made it clear to me that the policy generated large profits for you. You failed to do this. I believe that you have also therefore failed in your duty of disclosure. Your failure to disclose is misrepresentation at common law. What I require Your concealment of the act of mis-selling has prevented me from asserting my right until now. I believe that there are strong grounds for action against you under common law, statute and consumer regulations. The original premium for the insurance was £2019.00 plus interest of £1776.84 totaling £3795.84 this was to be paid over 48 months at 79.08 per month. The loan plus the interest equals £9548.64 I have paid to date a total of £7754.69 this leaves a balance of £1793.95 I require a refund of £2001.89 plus contractual interest of 41.6% and a nil balance owing to you. Alternatively I will ask the Court to allow me statutory interest at 8% under S69 of the Count Court Act. My targets to resolve this matter I hope that you will enter into a sincere dialogue with me about this matter and I am writing this letter to you on the assumption that you will prefer to do this than merely respond with standard letters and leaflets. I will give you 14 days to reply to me accepting, unconditionally, my request in principle and letting me know a date by which I will receive payment. If you do not respond, or you do not respond positively, within this time period, I shall send you a letter before action giving you a further 14 days in which to reflect. I believe that this time frame is sufficient for a large company such as yours with its dedicated staff and departments. After that, there will be no further communication from me and I shall issue a claim at the expiry of the second deadline. Yours faithfully, xxxxxxxx now i am stuck with the spreadsheet i have looked at a few and i have no idea what i'm doing. i don't know how to change the % rate, also do i put each monthly amount and calculate the % from that date. as i have been put on a payment plan i don't know how much is coming off insurance and how much i coming off the car finance. i have successfully claimed back bank and credit card charges and thought i had a good knowledge of what i was doing but the whole ppi thing is much more complicated. any help would be much appreciated J

well i've tried changing the formula and i've had no joy. i give up. i think i will just send letter asking for repayment of ppi.

thanks todge, i will give that a whirl

i need a little help. i am just about to send letter to welcome asking for ppi back as it was missold. my question is the APR on my agreement is 41.6% :shock: and i want to add contractual/ compound interest and i'm not sure how to do this. i have looked at various spreadsheets and i have no idea how to calculate the interest on each payment i made. i want to understand it fully. are there any wizz kids out there that can help me???? many thanks in advance

It is official I am a winner........... :D funds in account today.....yipeeeeeeeeeeeeeeee. donation on its way. (i have just set up a paypal account so have to wait a few days for it to be set up) massive thanks again to every member, helper and mod. big huge thanks to MB and BIGAL.....again!!!!!

thanks uk would like to add that if anyone is thinking about reclaiming charges capital one have been very straight forward and i've anticipated every move from which all is posted on the fantastic website. right down to when you get your statements what reply you will get and at which point they will send the standard letter offering a full refund. Thanks again CAG:D