Welcome Finance PPI

[Jamesx81x]

Hi

 

I have 2 loans with Welcome. The second loan cleared the original and settled the account.

 

PPI was added to both accounts which i feel i fairly have strong grounds for reclaiming. I have made complaints to Welcome and they have given their final response that they are unwilling to refund any charges. As the agreements were pre-2007 i am unable to use the FOS. I have tried the FLA but they are simply a mediator and hold no juristiction.

 

I was wondering what actions i can now take to reclaim the PPI i feel i was mis-sold. Also the PPI that was added in the first loan was included in the settlement figure for which the second loan covered. Are they allowed to do this as i feel they have claimed the full PPI premium even though the second loan settled the account.

 

Any advice will be much appreciated.

 

Thanks

[postggj]

the problem with these insurance products is that they are front loaded.

that is the full ammount paid up front,

welcome screw you at the high apr that way

the norm is there should have been a rebate calculated

time left on the original loan, interest re-calculation, etc

did they give you a rebate figure on the first loan to carry on to the second

bet they did not

 

you then have a case for miss-selling

but this is welcome we are talking about

prepare for a hard slog

[Jamesx81x]

No rebate was done it was just incorporated into the second loan.

 

They basically told me that if i took out the PPI i would stand a better chance of being accepted and as my credit file was not that good it would reduce the APR i paid. What a load of balls, if this is not mis-selling i dont know what is. My wife was prsent as witness to.

 

Also i am not too sure but i am wondering if the agreements are set out corrrectly. They are pre-2007 so am not too sure how that will affect it but the total charge for finance etc is missing from it.

 

Thanks

[postggj]

sounds interesting

can you post the agreement onto your thread minus personel details

leave in the figures

google photo bucket

[Jamesx81x]

Here are the 2 agreements:

 

Image of Welcome Agreements - Photobucket - Video and Image Hosting

 

Think i have done it correctly

[postggj]

james

i take it these loans are both cleared now

i believe the agreements are bog roll

 

where is the total ammount payable for a start

thats a perscribed term

[Jamesx81x]

The first one was cleared using the second loan thats when i mentioned it looks like they have added the first lot of ppi to the second loan. The second loan is still oustanding with a default issued against me.

 

I thought there were things missing but was not sure. As said i have done everything i can using their complaints system and FOS cant do anything with them.

 

I am looking for a refund in PPI, default removal and possibly wiping the debt due to it being un-enforcable it it turns out to be that.

 

They also have not signed the second agreement it has not been blanked out by me.

 

Thanks so far.

[postggj]

james

 

come back tommorow and ill have all the ifo you need

welcome have done you up like a kipper

welcomes complaints is a waste of time

 

its now pay back time

are you still making payments to welcome

[Jamesx81x]

No stopped paying them in 2005 which is when the default came along.

 

I didnt think things were right i have just been searching for a way out of it, get the default removed and claim back the PPI i have paid.

 

Thanks so far, really appreciate it.

 

James

[postggj]

thats why they have not come after you

the agreement is crap

 

have you done an sar

do you have the default notice

[Jamesx81x]

Yes i have done a SAR.

 

The default notice is present and holds all the information it should, only bit i wondered about is at the bottom there is a section for signature that is unsigned.

[postggj]

can you post the default notice to have a nose

[Jamesx81x]

Yes i will post it shortly will be up this evening.

 

Thanks so far

[Jamesx81x]

Here's the default notice. Bit tatty looking as if they have made it up when i requested it. Not signed either.

 

Image of welcome default - Photobucket - Video and Image Hosting

[postggj]

hi james

 

a default notice has to give 14 days plus 2 for service from date of the letter

 

letter date 8 july

remedy the breach 18 july

 

thats only ten days

 

as it stands its invalid

 

dont take that as gospel until you get it confirmed

the time scale might have been different in 2005

 

hoping for you

[ceebee]

I would like a bit of help please on behalf of my son. He took out a loan with Welcome and got himself into debt. He has sorted most of his problems out but is stiil left with WF to resolve. He can't afford to pay the loan off and Payplan are being useful except they seem not to want to get involved with the rights and wrongs of the PPI. Having read through this forum i thought that if we could get the PPI written of then his payments would get a bit more managable. I posted a copy of his agreement washed of personal details (i hope it works as i've never done it before) and the thing that strikes me is the boxes agreeing to PPI are pre-printed, surely this not legal. I have told him to write an SAR which he is in the process of doing but in the meantime any advice from you great people would be appreciated.

Link for pic georgedubya - Photobucket - Video and Image Hosting

[Jamesx81x]

Hi postggj

 

Will have to find out about the default notice, even if it turns out to be ok if the agreements are crap it should never have been issued anyway.

 

letters i have received from them when i went down the un-enforceable route implied that as it was pre-2007 the principles in which i sought did not apply ie, unsigned etc.

 

Bottom line is that they are reguated by the CCA 1974 and there must be sections in there giving me some protection or whats the point?

[Jamesx81x]

Hi again postggj

 

Have you got the information you mentioned yesterday?

 

Need a starting point with the enforcability of the agreements.

 

Thanks

[Jamesx81x]

Hi

 

Thought i would bring this up again as i have hit a dead end with Welcome as expected and am looking for the best action to take next.

 

Postggj you mentioned providing me with info but you never got back to me, is there any reason for that?

 

Thanks