Valhala Vs Welcome Finance.

[valhala]

I originally took out a loan with these in 2004, in 2006 I needed to get another loan as I was moving into a new rented property and needed deposit so as I had almost paid of my 2004 loan(around £600 left to pay) Welcome gave me a new loan where I cleared the £600 old balance with it.

 

I have been out of work sicne the end of 2007 now and was lucky enough to get my PPI on my recent loan to pay a years worth of payments but during the past couple of years I have clocked up a lot of charges due to not being able to make my payments. Anyway I have just put in a claim to get my charges back from 2004 as I had quite a few on my first loan with them as well.

 

I am now thinking of claiming back the PPI from my first loan as this was not used and actually I didnt really need it. with it almost being six years since that first loan I guess I should get it in now before the 6 year barrier comes into place where I wouldn`t be able to claim back.

 

 

My problem is I understand the process of reclaiming charges as I have done this a few times on various accounts. but claiming back PPI is something I am not sure about. I have looked at the template letters from Martin Lewis Moneysavingexpert and read his article but I am not really sure what reason I should use as to why I am claiming back.

 

I have all the documents with me from the original loan and I did actually sign to have PPI added so I guess its going to make it difficult. Have Welcome had any action taken against them for the way they sell PPI as some companies have done??

 

Anyway any help in this matter would be most gratefull, I want to try and get this done quickly before I get into six years

[IdaInFife]

hiya

 

 

have a look in here :

 

Payment Protection Insurance (PPI) - The Consumer Forums

 

 

also please check yur agreements to see if you were charged interest on arrangement fees,

 

if you have copies of your agreement a very nice man called postgg can look over them

 

ida x

[valhala]

hiya

 

 

have a look in here :

 

Payment Protection Insurance (PPI) - The Consumer Forums

 

 

also please check yur agreements to see if you were charged interest on arrangement fees,

 

if you have copies of your agreement a very nice man called postgg can look over them

 

ida x

 

I see on my recent loan I took out in 2006 I was charged interest on top of the insurance policy but that insurance policy has just paid out a years payments after I was made redundant in 2007 so I doubt I will be able to claim back anything from this one.

 

I am planning to claim back PPI on my first loan which was in 2004 but I am unable to find the agreement yet to check so I will find out

[valhala]

Hi,

 

 

Just wanted some help. I owe this lot a bit over 3K but due to being out of work not been able to pay much to them. recently been getting letters from Lewis Debt reovery who I believe are part of the company anyway?

 

Anyway I got a letter from them saying if I pay £1055 within 14 days then my debt to Welcome will be cleared and settled and I can apply to have it marked as settled on my credit file.

 

Anyway I was unable to make this sort of payment untill recently where I have now got enough to make the payment. As the offer has expired I wrote to them and told them I would be able to make the payment if they would accept it as final settlement but wanted it in writing. Today I got a letter which says

 

 

"

 

Dear Mr ********(obviously not going to put my name here

 

 

Re: Welcome Financial Services Ltd

 

We refer to your previous communications in this matter.

 

In response to your leter , dated Nov 20th, we would accept £1055 by the 13th December 2009 as a full and final settlement failure to do by the 13th December 2009 you will be liable for the full balance

 

 

Yours Faithfully

 

 

 

That is how the letter is word for word, before paying this wanted to get some advice. as it is almost 2 grand less than the balance I owe I am obviously a bit nervous that there is some sort of catch.

 

If I make this payment after getting the original offer and now this letter is there anyway they could chase me for the amount they have taken off??.

 

I plan to pay on Monday so please let me know what you think.

 

many thanks

[42man]

My feeling is that this is quite a reasonable offer....I think you might struggle to get the previous PPI payments also as it seems they hadn't been missold as such (and actually you were one of the lucky ones who's PPI DID pay out, albeit on the second loan) If they WERE to refund the PPI and charges would it come out about the same balance as they have offered in F & F ? Also as you have it in writing....keep proof of your payment to them.

[valhala]

My feeling is that this is quite a reasonable offer....I think you might struggle to get the previous PPI payments also as it seems they hadn't been missold as such (and actually you were one of the lucky ones who's PPI DID pay out, albeit on the second loan) If they WERE to refund the PPI and charges would it come out about the same balance as they have offered in F & F ? Also as you have it in writing....keep proof of your payment to them.

 

 

 

I must stress this offer has nothing to do with my claiming PPI. I didnt actually start that in the end. I just got an offer out of the blue saying I have been selected to clear the debt if I make this payment.

 

I just wanted to make sure they is nbo hidden catch if I pay it. Dont wnat to make the payment then hear from Welcome Saying I still owe 2 grand