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  • #1

    Reclaim from Welcome

    Hi,

    New to this forum...I took out a welcome finance loan in 2002(paid off in 2006 ish)

    Had about 3k worth of ppi added to it(loan was about 13k in total)

    Recently approached one of these ppi companies about it and was advised Welcome would have nothing to do with due to the date 2002. Then received email from company who advised they contacted FOS also advised no claim against welcome as they weren't regulated in 2002???

    Any advice would help


    Cheers
    Tags: 0800, broker, claim, compensation, complaints, con, consumer, debt, default, details, family, finance, financial, fos, free, friday, fscs, help, helpline, insurer, letter, life, loan, norwich union, ombudsman, pensions, policy, ppi, reclaim, sales, scheme, telephone, template, template letter, thank you, welcome finance
  • #2
    Re: Welcome ppi

    Hi and welcome (No pun intended lol)

    First of all was it WF who set up and sold the loan?

    You pursue the broker who set and sold you the finance.

    As Welcome Finance are in default, sales taken places after 14th Jan - complaints are being dealt with by the Financial Compensation Scheme (FSCS).
    As WF were regulated by the FSA.

    However, in your case, the best to do here is to find out who the Underwriter/insurer was, if you have any paperwork, policy details, they may be disclosed on them.

    This is another avenue recommended by the Financial ombudsman service (FOS).
    If you are not able to find out the details of the Underwriter, it's possible the FOS may know, so give them a ring on the free telephone number below, and hopefully they will have the details, then come back to us, so we can help all we can.

    phone our consumer helpline on
    0300 123 9 123     or 0800 023 4567
    Monday to Friday – 8am to 8pm
    Saturday – 9am to 1pm
    we'll be happy to phone back.

    http://www.financial-ombudsman.org.u...complaints.htm

    Please feel free to start a new thread for yourself as well, we can then keep a track on your case, any probs, let us know.

    Comment

    • #3
      Re: Reclaim from Welcome

      Hi Gman, I've moved your post to your own thread.

      IF...x
      "If wishes were horses, beggars would ride"

      Comment

      • #4
        Re: Reclaim from Welcome

        Originally posted by IF View Post
        Hi Gman, I've moved your post to your own thread.

        IF...x

        Aww thank you IF, you beat me to it, I was just about to as well lol. x

        Comment

        • #5
          Re: Welcome ppi

          Di30,

          Thanks for getting back to me so quick :-)

          Thinking back to when I got the loan, dealt straight with Welcome Finance no broker involved.

          When digging out my paperwork it only mentions Norwich union life & pensions as underwriter for another con that was added to this loan( Family care...Whatever this was??)

          Cheers

          Comment

          • #6
            Re: Welcome ppi

            Originally posted by Gman290778 View Post
            Di30,

            Thanks for getting back to me so quick :-)

            Thinking back to when I got the loan, dealt straight with Welcome Finance no broker involved.

            When digging out my paperwork it only mentions Norwich union life & pensions as underwriter for another con that was added to this loan( Family care...Whatever this was??)

            Cheers

            Not a problem.

            Now what you will have to do is pursue the underwriter, you can do this by using a reclaim questionnaire or a template letter, I will post below, but they will highly likely try to reject your complaint but the plus side is - you can complain to the Financial ombudsman service (FOS) as the underwriter were regulated.

            The FOS will investigate, and check what liabilities and responsibilities these had when the policy was sold to you, read the link for more information I posted on another thread......

            Underwriters....
            http://forums.all-about-debt.co.uk/s...070#post242070

            This will give you an idea on what they do.

            Reclaim questionnaire here.......

            http://www.financial-ombudsman.org.u...laint_form.doc

            Or a template letter here.......
            http://forums.all-about-debt.co.uk/s...ead.php?t=6720

            Only leave in what applies to you.

            Keep copies of all you send, in case you need to refer back to it again at some point.

            You can always add further info that involves the underwriter, say you believe they also had liabilities and feel they are jointly responsible for you being mis sold the policy, because for example, if they had checked the application for the policy when it was passed on to them to check for eligibility, then they would have been aware that you did not fit the criteria..........
            (Whatever your reasons are) etc.......

            Comment

            • #7
              Re: Reclaim from Welcome

              ...........to add to this, if you provide all the information of your reasons for being mis sold to the FOS, with the underwriter's details, they will write to them on your behalf, so therefore you will receive a letter from the underwriter, and the FOS will or should also receive a copy from them.

              If you wish the FOS to write to them on your behalf, give them a call on the above number posted earlier.

              Comment

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