Welcome finance PPI

[johnl69]

Hello

I need some help, I have been trying to claim for unemployment for a few months now but welcome PPI (Direct group) are refusing to accept the claim. So I decided that I would cancel the policy which should make my monthly payments lower and more affordable, now I have just got off the phone with welcome and they say that if I cancel the PPI then my monthly payments will stay the same and will not be lowered. can they do this? they have also said that even after the PPI has finished its term (5 years of a 15 tear loan) then the payments will still be the same as the rest will be interest, Is this correct?

This loan is secured on my house so I dont know what to do next, my loan repayments are £199.34 pm of which £34 is for PPI I know its not much extra but were struggling to make payments as it is.

Any help would be much appreciated

John

[enaid]

Re: Welcome finance PPI

Hello john and welcome to Beagles.
Please have a read of the info about PPI PPI Notes - PLEASE READ FIRST - Legal Beagles . I would think that as they are refusing to pay you and that the loan is for 15 yrs and the PPI is only valid for 5 yrs then you would have a good case for the PPI being mis sold.
Can you say why they are refusing to pay you and is the reason in the T&C's ?
Enaid x

[johnl69]

Re: Welcome finance PPI

They say that for people on fixed term contracts like I was that they must have been on a contract for 12 month which has been renewed at least once, what they are saying is that this means that my initial contract must have been for 12months and that it was renewed after this 12months where up which isnt how it reads.

I know that when i got my application forms through that the box for PPI was already ticked for me

[enaid]

Re: Welcome finance PPI

Ok I would have a read of the info I put on my last post and start the ball rolling on the whole amount being reclaimed.
They will put up a fight and try and fob you off, as they already have done it seems.
The letter templates are there too, just adapt them to suit you.
Stick to your timescales with the letters.
You can go through the FOS with your complaint or court, but please be aware if you go the court route and your claim fails then you can not go to the FOS, you can still go to court though if the FOS don't sort it for you.
Enaid x