Welcome ppi

[billypre]

Small loan from unwelcome finance in 2003. ppi was frontloaded. Usual advice that i couldn't get the loan unless i had their insurance.
Loan was only for £500 over 12 months. Got windfall 5 weeks after taking loan out and asked for early settlement. Was quoted over £950 !!!!

Anyway, refused on principal and things spiraled out of control ending with me getting ccj as i didnt know and didnt take any advice when they issued court papers. ended up paying it off a year later.

So........ started reclaim for ppi in July against Welcome.

Received reply that they were not liable as it was before 2005.

Contacted FSO who said we could now go for the underwriters. That would be Aviva

FSO contacted Aviva.

Aviva sent me refusal letter on grounds that they never sold it or were at point of sale. Also quoted as i had signed the document i MUST have been aware of all the info etc. :fozzie

So, back to FSO who are now investigating. ppi is only a very small amount (£110)compared to others but its the principal here. Will post more details once FSO get back to me.

[di30]

Re: Welcome ppi

Hiya

Thanks for posting your update.

Mine as you know is also with the FOS and assigned to an Adjudicator in relation of the insurer, this is ongoing, but another way to try to get your money back to you.

I understand this may take some time though, and fingers crossed a good outcome at the end of it too, the interest will soon add up as well if we are successful.

Please keep posting with any updates, cheers and the best of luck x

[billypre]

Re: Welcome ppi

Cheers Di. Yeh i also have one on its way down the same route with GE Money, which then went to the broker Compass Finance and FSCS, and now is going to the next stage with the underwriters Pinnacle. Havent had a response yet from Pinnacle but pretty certain they will refuse liability and this one too will be down the FOS route.

Hopefully it doesnt take too long, but on the other hand every bit of interest is welcome

Good Luck with yours and i'll be looking to your cases as you should have your outcome a long time before mine. You are my test case LOL

[Never-In-Doubt]

Re: Welcome ppi

Hmmm you should be reclaiming from the source, weird that they've sent you to the unrelated underwriters..... Thing is you should be pushing for write off in totality due to the missale resulting in ccj set-aside. If the ppi was not loaded the loan may have been repaid pre ccj!

I thought u were in Scotland. Was it a decree? When was it registered, I'd have thought it'd dropped off already? (your credit file).....

[billypre]

Re: Welcome ppi

Scotland yeh.... sorry i keep saying CCJ because its used more but it is of course a decree up here !

It's dropped off my file now. I have however asked FOS for full ppi plus interest PLUS court costs i paid plus interest i paid them and also compensation. Long shot but as well putting it in there.

Tried claiming from Welcome initially Niddy but because it is pre-2005 or something then Welcome don't have to investigate or are not responsible. Can't remember exact wording but i'll hunt it out tomorrow.

[di30]

Re: Welcome ppi

Your welcome Billy.

Hi as well Niddy.

Over the last year, the FOS have been suggesting the underwriter/insurer of the actual loan business, if for instance the loan company were not regulated, where not all of them were governed pre-Jan 2005 by even GISC, its highly possible the Insurer would have been.

The FOS are checking them for any liability in the sale process of the loans, because the underwriters should also be part responsible for the checking over and making sure the PPI is also suitable for the customer.
So even though this is ongoing and it may take some time, it may be yet another direction they will take to investigate if they do find them also part responsible.

I do also have one in, being in the same position as Billy, the FOS or the FSCS could not take the case on against the broker, as they were not protected by the above regulators.
This time my case have not been returned to me, but have actually gone that step further to the Adjudicator, via the Insurer of Hamilton.

So time will tell, and here's hoping we get back what is rightfully ours of the PPI that was mis sold to us.

[di30]

Re: Welcome ppi

Billy I have an update, the letter came through the post today from the Adjudicator, just to let me know they are still working on it via Hamilton Insurance and I should hear something by the end of Jan 2011 if not earlier with at least another update, it would be better if it was some sort of result though wouldn't it? lol.

Will keep you posted. x

[billypre]

Re: Welcome ppi

Hey, get your own thread !!!

Just kidding lol

A result would be fantastic, but at least it is a work in progress i suppose and not just sitting in a "to do" tray gathering dust.

Being totally honest and realistic, i actually don't think that the FOS are going to be able to place any blame on the underwriters........... but any hope is better than no hope. They know better than me though and i'm sure they wouldn't be wasting their time trying down this route if they didn't believe there was a chance of making them pay.

Fingers Crossed its a very very happ new year for you Di and you get the result which could see us all charging our glasses !

[di30]

Re: Welcome ppi

LOL Billy......funny enough I thought I did start one and me out of all people hey? lol

Yes its going to be a difficult one, but another lead for them to try, but I know what your saying though.

Well lets hope we both get some positive news, thank you Billy and All crossed here for you too X

[billypre]

Re: Welcome ppi

Letter from FOS today. They are awaiting reply from underwriter about my case and will then pass to adjudicator. Next contact within 2 weeks

[di30]

Re: Welcome ppi

Hiya

That's not bad going Billy so far, good luck on this, I should hear further by January 2011 if not before - depending if there is anything have progressed.
Good luck.

[billypre]

Re: Welcome ppi

Havent heard more from this but lost contact due to moving house etc. Will have to call the ?FSA and update details.

[jen_br]

Re: Welcome ppi

hey stranger!

[di30]

Re: Welcome ppi

Hi Billy

Thank you for your update, hopefully you should hear some news, with a bit of luck good news to come early 2012.

Hope you and your family have settled down well in your new home x