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Hi All!
I have been an avid supporter of this site for some time now. I am more the voyeur type, I research and take little snippets from others and apply to my own circumstance.
But with this one I think I will need some help from willing contributors.
Bare with me on this one, as its hard to explain what Welcome have done.
I have a Welcome Finance re-loan taken out in Dec 2007. I need help with reclaiming the PPI contribution of the loan. I have had the PPI cancelled and a partial rebate. The amount of £1300ish (I will confirm exactly)
Welcome state they will use this rebate to pay of my loan by 4 months early at the end of the loan term of 180months, basically back-loading my loan. So for the rest of the time I pay as per normal.
When speaking to the advisor, let’s call him “village idiot” tried to convince me this was normal and I was fortunate to get any sort of rebate as they don’t generally allow people to cancel PPI as its already been paid for in one lump sum, So for the next 154 months my premium re-mains the same as it was when I took out the loan.
I need help with the following, pretty please with all types of goodies on top.
- I took out the re-loan in Dec 2007. It does state the cost of insurance on the breakdown. But not how much it would cost per month.
I noticed on a post made by (Grimreapr - on the loan agreement is the details of how much ppi cost and the aount you pay for it - so if you signed the agreement with that on you have no case for missold insurance)
Is this true?
- The first loan I took out had NO PPI, I thought this was just an extension of my previous loan. I declined PPI on the first loan. So thinking this would be the same.
- The loan is for 180 months and PPI is only valid for 60months.
- I honestly did not know I had the thing, and was not offered any alternative to insurance or how much extra it would cost me to have this PPI.
- I only noticed the PPI when I got my first statement from them, I realised how little was coming off my capital.
Welcome finance are just terrible to deal with and I have been putting this off for months and months after reading what others go through with this company.
I have kept most of the documents sent by them, in a big pile. I did notice on my summary sheet the PPI tick box was not ticked but the PPI amount was added into the sums for the loan. I actually did want to query this at the time but I was nervous and just wanted to sign and leave.
Any help and advice would be greatly appreciated.
Stewie
I have been an avid supporter of this site for some time now. I am more the voyeur type, I research and take little snippets from others and apply to my own circumstance.
But with this one I think I will need some help from willing contributors.
Bare with me on this one, as its hard to explain what Welcome have done.
I have a Welcome Finance re-loan taken out in Dec 2007. I need help with reclaiming the PPI contribution of the loan. I have had the PPI cancelled and a partial rebate. The amount of £1300ish (I will confirm exactly)
Welcome state they will use this rebate to pay of my loan by 4 months early at the end of the loan term of 180months, basically back-loading my loan. So for the rest of the time I pay as per normal.
When speaking to the advisor, let’s call him “village idiot” tried to convince me this was normal and I was fortunate to get any sort of rebate as they don’t generally allow people to cancel PPI as its already been paid for in one lump sum, So for the next 154 months my premium re-mains the same as it was when I took out the loan.
I need help with the following, pretty please with all types of goodies on top.
- I took out the re-loan in Dec 2007. It does state the cost of insurance on the breakdown. But not how much it would cost per month.
I noticed on a post made by (Grimreapr - on the loan agreement is the details of how much ppi cost and the aount you pay for it - so if you signed the agreement with that on you have no case for missold insurance)
Is this true?
- The first loan I took out had NO PPI, I thought this was just an extension of my previous loan. I declined PPI on the first loan. So thinking this would be the same.
- The loan is for 180 months and PPI is only valid for 60months.
- I honestly did not know I had the thing, and was not offered any alternative to insurance or how much extra it would cost me to have this PPI.
- I only noticed the PPI when I got my first statement from them, I realised how little was coming off my capital.
Welcome finance are just terrible to deal with and I have been putting this off for months and months after reading what others go through with this company.
I have kept most of the documents sent by them, in a big pile. I did notice on my summary sheet the PPI tick box was not ticked but the PPI amount was added into the sums for the loan. I actually did want to query this at the time but I was nervous and just wanted to sign and leave.
Any help and advice would be greatly appreciated.
Stewie
have to go get some heating cause I have numb toes.
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