a couple of questions

[hampshire1]

i was charged £675 for ppi, this was a one off payment for which they added interest at 42 %. this was with welcome. question, would my policy have cost welcome that ammount or have they added a mark up? if they have is it legal to add interest on money they have not paid out?

Does anyone know who i can complain about mis selling as they told me the loan was before they were regulated by the FSA.

[Goldlady]

I have met with similar ridiculous claims about not being regulated. As someone posted on my thread at the time, if they were not regulated then what were they? Loan sharks? Anyway a few days after getting that letter the full amount of the PPI was refunded, so if you have asked for a refund perhaps it will happen. I hope so.

[hampshire1]

Ha ha they are loan sharks. well i have had the letter for a week now and nothing in my bank. They have told me thats thier final answer.

[hampshire1]

They told me in a letter that Direct Group Ltd administers the insurances, would these people have to tell how much my policy really cost?

[hellhasnofury]

Hello Hampshire,

 

When these companies state that the loan was taken out before regulation by the FSA, this is a statement to put you off continueing with your claim.

 

please read this link

 

Payment protection | Were you mis-sold PPI? | PPI - rules before 2005

 

I would also look into the extortionate credit bargain charging interest of 42%.

[hampshire1]

Thanks for that, i looked rules before 2005 but still not clear who to complain to if i am not happy with welcomes reply. Does anyone know who i should take my complaint to?

[GRIFF27]

I am in the same boat as you because my loan was taken out with London Mortgage Co in 2003. The FOS cannot help so I am going after the broker who sold the loan, the only option I have is the court route

[Bigmark]

Hi

The Finance & Leasing Association (FLA) has a duspute resolution service,

this can be utilised by any person who has a complaint against current or past members.

 

FLA can be contated on 020 7836 6511

they can tell you if the company was/is a member.

The FLA also operates an online complaints form, much the same as the FOS forms.

[hampshire1]

Thanks bigmark, i will contact them to find out if welcome was a member.