Welcome Finance PPI reclaim

[James77]

Hi all ,

 

I've contacted Welcome Finance re reclaiming PPI on several loans I had with them, was pleasently surprised that, at this time, they were helpful in providing me with the details of loans, account numbers etc. as I had no details.

 

The loan dates were as follows, 1st loan 11th october 2002

2nd loan 18th april 2003

3rd loan 5th dec 2003

 

They have advised that as they were not regulated prior to 2003, any claim I make for the first loan would have to be from the underwriter which was Aviva. I can't find any details of how to contact them. for the second loans they asked me to fill out a questionnaire and post it to them.

 

I'm just wondering if it may be better to use a claims company in this case.

 

I would really appreciate any advice, am I proceeding in the right way?, will I have a claim against aviva?, should i contact a claims company?

 

Thanks for your help

[dx100uk]

no never use a claims co!

 

you'll lose 50% of your money

 

welcome are ofcourse giving you rubbish to put you off

 

you paid welcome

 

you reclaim from welcome!!

 

dx

[thebaneofbanks]

no never use a claims co!

 

you'll lose 50% of your money

 

 

dx

 

and which claims company are you using? I do not dispute that claims companies do charge for what they do but 50%? By you coming out with a figure like that you are in many ways no better than a claims management company making extravagant claims.

 

I have been contacted by a number of claims management companies with regard to reclaiming PPI and have been quoted between 20% and 33% all plus VAT which would make the dearest 39.6% including the VAT. Obviously if you do know of a company charging 50%b I apologise but if you do not why make such a wild claim?

[dx100uk]

and which claims company are you using? I do not dispute that claims companies do charge for what they do but 50%? By you coming out with a figure like that you are in many ways no better than a claims management company making extravagant claims.

 

I have been contacted by a number of claims management companies with regard to reclaiming PPI and have been quoted between 20% and 33% all plus VAT which would make the dearest 39.6% including the VAT. Obviously if you do know of a company charging 50%b I apologise but if you do not why make such a wild claim?

 

 

because they DO.

 

i've also know claims co' to cough on the PPI they were told about , but reclaim others the punter never even knew existed

never told the punter, and to pocket those as clear profit...disgusting.

 

dx

[thebaneofbanks]

because they DO.

 

i've also know claims co' to cough on the PPI they were told about , but reclaim others the punter never even knew existed

never told the punter, and to pocket those as clear profit...disgusting.

 

dx

 

So have you contacted the MoJ and the police and reported these firms? Personally I do not believe what you are saying. How would you know that they have been doing these things unless of course you are working for or have worked for such a company. If that is the case you must have all the proof and I would hope have reported these companies to the relevant authorities. Please if what you are saying is correct and you have the proof share it with us all and let us know of these companies and also let us all know what steps you have taken to stop this.

 

If on the other hand you are just posturing and making groundless allegations say you are mistaken.

[dx100uk]

dont watch much tv then.

 

been reported on one of doms programs too.

 

anyhow cag is here to help people not promote fee taking reclaims co's and dmp companies.

 

for someone with only 17 posts

 

one could doubt your motives for being on cag.

 

dx

[Poor-Credit Borrower]

I think the most I have seen, with claims companies I've personally contacted, is 33% and as already mentioned with the VAT that would make 39.6%.

 

Even that is outrageous, and I don't think dx's slight exaggeration to 50% is significant - so I don't know why you, thebaneofbanks, are making such a thing of it.

 

I didn't know about claims co's 'reclaiming' other monies, for themselves, that consumers didn't even know existed.

[thebaneofbanks]

dont watch much tv then.

 

been reported on one of doms programs too.

 

anyhow cag is here to help people not promote fee taking reclaims co's and dmp companies.

 

for someone with only 17 posts

 

one could doubt your motives for being on cag.

 

dx

 

dx as part of the site team I would have thought you were here to help people and not make accusations and wild statements. Just because I have only made 17 posts does not mean my posts are any less important or valid than yours. remember you once had made very very few posts, were you met with such hostility?

 

Please show me where I have advocated fee charging companies? You have made what I believe to be wildly inaccurate claims and all I have asked you to do is reference these claims to give them validity. I did say if you could do so I apologise fo doubting you and all you have managed to come back with is dont you watch TV it was on Doms programme. That to me is not much of a reference. Give me the name and date of the programme, so I can see it. I find it hard to believe that this can happen and if it is happening that these companies are still in business. I asked you what you had done with the information and you have ignored this question.

 

dx there seems to be a pattern here as I noticed recently someone else stating you hadn't answered a question from them. maybe dx if you cannot answer the questions it may be better to say nothing than make wild accusations. As I say if you can give valid provable references to these claims then I apologise for doubting you. If all you can give me is it was on doms programme then I'll carry on doubting you.

[thebaneofbanks]

I think the most I have seen, with claims companies I've personally contacted, is 33% and as already mentioned with the VAT that would make 39.6%.

 

Even that is outrageous, and I don't think dx's slight exaggeration to 50% is significant - so I don't know why you, thebaneofbanks, are making such a thing of it.

 

I didn't know about claims co's 'reclaiming' other monies, for themselves, that consumers didn't even know existed.

 

PCB,

 

I love the way you say slight exaggeration to 50%. Lets just say it increases the bill by over 25%. In my view that is more than slight. In addition if there is VAT on top of that it is even worse. I agree that 33% plus VAT is outrageous, but I also think to say well I've heard of companies charging 50% is just as bad if it cannot be proven. All I have done is ask dx to provide some form of proof of his claims. Surely that is a reasonable request.

 

kind regards

[James77]

Hey

 

Thanks for your replies guys, all replies very much appreciated. However I'm afraid your argument doesn't provide me with any constructive advice with regard to my particular situation. Does anyone have some constructive advice? possibly from personal experience of dealing with Welcome or knowledge of the legal situation with regard to PPI prior to 2003. Saying claim from welcome is all very good, but as they have already said they will not consider the claim I'm really looking for advice on how to proceed, with explanation.

 

Thanks very much

[Poor-Credit Borrower]

Hi James 77,

 

Claiming from Welcome can be a bit tricky, as the company have become insolvent and gone into administration; however, it is certainly possible and indeed I have heard that payout if successful could be in less than eight weeks, as the 'administrators' are keen to resolve quite quickly. I'm afraid I have no knowledge of the legal situation of PPI matters prior to 2003, so hopefully someone else on CAG will help...

 

Also, if any of your loans in 2002 and 2003 consisted of consolidating another loan, do remember to reclaim the PPI on the loan that was consolidated too, as that could be hidden.

 

Hope this helps,

PCB

Edited April 12, 2012 by Poor-Credit Borrower
typo and missed out a word

[ClaireCardwell]

Am not sure how helpful this will be but

 

I have submitted a claim direct with welcome for accounts from 2002/2003 and they have today offered me a figure of £3589.85 in compensation.

 

However I do have an outstanding liability with them and they are therefore offering me this on the basis that they "offset" it against the outstanding account,

even though it is from 2006, and I think the money should come to me.

 

Therefore if they can do my claim from 2002/2003 direct then why can they not do yours?

 

I'd go back to them again if you havent already.

[meandbex]

Claire, how long has this process taken you with Welcome? I sent my SAR request which was receieved by them on 29th March.

[ClaireCardwell]

I sent my original letter to claim in on 10th February,

however they said they sent the claim form out to me on 16th February to complete but it never arrived.

 

I waited nearly 6 weeks before chasing them up, and at end of March they said they had not had the form back.

 

I therefore downloaded and emailed over to them and got my offer letter from them last week, so its taken about 3-4 weeks from me sending it in.

 

I am in dispute with them over the "off-setting" as I have read through all the T&C's of the account and there is no reference to off-setting amounts.

 

Am waiting to hear back from them.

 

I'll keep you posted how I get on.

 

Luckily I have the original loan agreements so have been able to send them the T&C's with my complaint.

 

Hope you manage to get what your entitled to x

 

my thread is here:

http://www.consumeractiongroup.co.uk/forum/showthread.php?346715-PPI-HELP-offsetting

[James77]

Thanks for your replies guys, I'll send off the PPI claim forms and wait and see what happens.

[nigelallan1]

hi James

 

I have had just the same letter and thanks to this site have realised it is rubbish.

 

Just wrote back to them quoting every Act from cca to misrepresentation act dont know whether it will work but i will continue to fight

 

dont know whether this is useful but look at CCA (think it section 13... help!) quote "equal responsibilty"

[James77]

I've not updated this in a while, but have just had an offer from welcome re 2 of my accounts, and a dismissal of my claim against the account prior to 2003, anyone else heard anything wiht regard to claiming prior to 2003?? should I accept their first and what they say is final offer??? the offer shows calculations of how they've worked it out.

 

Cheers,

 

James

[ims21]

What were the reasons for not upholding the complaint for the pre 2003 account?

[James77]

Hey

 

Here is the letter recieved from them ;

 

"I regret to inform you that my decision is to reject your complaint because it is outside the relevant time limits.

 

I understand this may be a disapointment, but what follows is my explanation of why i have rejected your complaint and how the time limit applies.

 

The rules of our regulator (The financial Service Authority - FSA) state that where a complaint relates to an event that took place prior to 27 Feb 2003,

we are not required to investigate your complaint.

 

Sales of insurance made before this date were the responsibility of the insurance provider, not the broker who sold it.

As a result I have not investigated your complaint."

 

Then usual stuff about if unhappy contact the FOS within 6 months etc.

 

I don;t even know who the insurance provider was, I only ever dealt with Welcome. The other 2 accounts I had with them they have sent an offer.

 

Cheers,

 

James

[dx100uk]

there is no time limit on PPI reclaims.

 

and welcome are not brokers either.

 

if you said welcome

 

welcome are responsible under sec 56 of the CCA.

 

dx

[James77]

Yep it is Welcome Finance,

been doing a lot of reading,

have to say i find it all very confusing, a

lot of posts are saying that as they were not regulated prior to 2003

I'd have to contact the FOS and have them chase the insurance company??

 

Any thoughts on accepting the offer on the other 2 accounts,

they've placed them together and made me an offer which they say will put me in the financial position I would have been in had I not paid the PPI.

 

should i just accept this?

 

Thanks to everybody for the replies.

 

Cheers,

 

James

[dx100uk]

without calc what you should be getting back it would be silly for us to say accept.

 

welcome do, in most cases, short change people.

 

i take this is the FSCS making the offers so far>?

 

basically what welcome are saying

is that prior to 2003 , they nor no-one were regulated - so tough luck.

 

must be why most other major lenders cough without question.

 

dx

[James77]

Thanks again for all your replies the offer is from welcome, not the FSCS, anyone have any specific advice on how to approach the 2003 problem, has anyone else encountered this issue?

 

Cheers,

 

James

[MrZ]

Thanks again for all your replies the offer is from welcome, not the FSCS, anyone have any specific advice on how to approach the 2003 problem, has anyone else encountered this issue?

 

Cheers,

 

James

 

My claim is from 2003, although not prior to February. Welcome ARE liable. Their own documentation says so. That being said though, Welcome will FOB you off as they no the FOS will side with them on this. The way I see it your only options will be to keep fighting them directly (which will get you no where in my opinion), Make a claim in the Court (can be very time consuming and costly initially), or leave it and walk away.

 

From my experience, given the age of the account, none of the regulators will get involved. Its down to you and them, and possibly the Court.