welcome finance ppi claim rejection

[debbie4]

had an hp agreement with welcome back in 1998, however it was converted to a personal loan couple of years later after handing car back through faults. The outstanding amount and new amount were totalled together and we still have around 1000 quid left, paying into it 20 quid per month. My first letter to welcome has just been rejected due to time limits they say, ombudsman say cant help as welcome were not regulated in 1998, i need to speak to underwriter at that time, had a look and can only see details for norwich union. Can anyone tell me if this is correct and whether it seems to be worth pursuing? Welcome say docs have been destroyed, i thought as current loan stil outstanding they would still have hold of them. Very frustrating

[di30]

Re: welcome finance ppi claim rejection

Hiya

I do understand that the FOS are suggesting the underwriter/insurer direction instead, as its highly possibly these would have been governed, unlike the broker/Welcome at the time you taken out the loan.

How far have you gone on this?

[Turboman]

Re: welcome finance ppi claim rejection

Hi Tanz has info on this regulation stuff--I've PM'd him to take look

[TANZARELLI]

Re: welcome finance ppi claim rejection

Turbs this info is in my WFS claim on PAG, 1998 may be pushing it though. I will did it out.

[gedwards]

Re: welcome finance ppi claim rejection

Hi there, I'm in the same kind of situation. The FOS are putting a complaint to welcome for PPI dating 2004 but I have another two loans which date back to 2002 and the FOS only started regulating in 2003. They have asked me to get the insurer for the PPI before 2003 to try and persue them.......this is very tricky as welcome dont seem to know or wont tell me!!! Can anyone here help with this info????

Very much apretiated.

[di30]

Re: welcome finance ppi claim rejection

Hi there, I'm in the same kind of situation. The FOS are putting a complaint to welcome for PPI dating 2004 but I have another two loans which date back to 2002 and the FOS only started regulating in 2003. They have asked me to get the insurer for the PPI before 2003 to try and persue them.......this is very tricky as welcome dont seem to know or wont tell me!!! Can anyone here help with this info????

Very much apretiated.

Hi there

If you have a look at my case below in the PPI thread when you have five, Hamilton/HFC etc.

What you do is write to the lender for the PPI policy details, they should provide these in the post.
On them the detaiils of the underwriter/insurer are on them.

You pursue them as you did or do with the broker, if they don't accept any liability (its likely they will not), then your able to take the complaint to the FOS, as these would have been regulated, as being insurers.
The FOS will take the complaint on and check what involvement they had in the sale of the policy.

However, I must warn you though, this can take some time.
Hopefully not though.
So do the above by writing to the lender - request for the Payment Protection Policy, and then write to them they usual way for reclaiming.

You don't always receive these details of the policy, such as when you received the loan documents after you had taken the loan out, and these are normally requested for separately, and they must still send them on request, even if the loan have been settled/paid off.

Hope this helps, good luck.