Welcome Finance PPI claims to go through FSCS

[Amethyst]

Re: Welcome Finance PPI claims to go through FSCS

Just for info on the right of set off Right of Set Off changes to BCOBS - Legal Beagles Consumer Forum ight be of interest/use Gian.

[EXC]

Re: Welcome Finance PPI claims to go through FSCS

I don't suppose you asked them if they would be putting any complaints on hold pending the Judicial Review?

[leclerc]

Re: Welcome Finance PPI claims to go through FSCS

I don't suppose you asked them if they would be putting any complaints on hold pending the Judicial Review?

"How to make a claim for compensation
The FSCS will be making arrangements to contact all policyholders who were sold PPI by WFSL on or after 14 January 2005, and will work as quickly as possible to process any claims received.

If you do not want to wait for an application form to be sent to you, you should contact WFSL’s customer services team on 0845 373 0386 or write to them at Welcome Finance, P O Box 10950, Sandringham House, Harlow, CM20 9JF. Alternatively, you can contact the FSCS customer services team on 0800 678 1100 or 0207 741 4100 to ask for an application form to be sent to you to make a claim for compensation.

If you have previously submitted a complaint to WFSL relating to a PPI policy that was sold to you on or after 14 January 2005, and you are awaiting a response, you do not need to do anything more. We will send you an application form."

FSCS FSCS declares Welcome Financial Services Limited in default

[Gian80]

Re: Welcome Finance PPI claims to go through FSCS

I don't suppose you asked them if they would be putting any complaints on hold pending the Judicial Review?

I'm afraid I didn't, although the chap I spoke to at WF did say "business as usual" for pre-2005 (they have been settling regardless of the JR) and he certainly gave me the impression that they were also dealing with post-2005 (as they have been doing), just under the FSCS's guidelines which they are bound by.

[Paul210]

Re: Welcome Finance PPI claims to go through FSCS

Just spoken with FOS regarding offsets applied by FSCS, theyve confirmed they have no jurisdiction where a FSCS case so couldnt get involved

[dogtired]

Re: Welcome Finance PPI claims to go through FSCS

I have just spoken to the FOS who are currently dealing with our case and the person I spoke to was not aware that Welcome had this order, he had to check on his computer!
he has given me the phone number for the FSCs phone numenr and said i should hear from them shortly
This on Welcomes own site now
http://www.wfs.co.uk/

[Bonce]

Re: Welcome Finance PPI claims to go through FSCS

Hi all,

This is just another victory for the banks. Why the hell should Welcome Finance be able to broker this deal. Via this deal they will repair their corrupt balance sheets allowing them to carry on trading under another name or sell their book to the highest bidder which by the way will be a million times more than they could have done six months ago. Why should this highly illegal lending institute be able to get away with this? They will have paid no tax for years due to losses etc and within 1-2 years they will be back lending as corruptly as ever. It gives rise to anyother lender who is still currently suffering to broker the same sort of deal which ultimately screws the genreal public.

The question is are we going to stand back and let this happen. People must see the bigger picture, if this has been allowed to happen then we can all give up any hope of a favourable result from the JR and i would assume that all PPI claims will be dead within 6-12 months as the other banks will come out and argue their cases.

This is all down to the useless people we elect into (or dont elect into) power, the banks rule the world and until we have a government who acts as they are supposed to in our best interests then things will carry on getting worse. Our government is as corrupt if not more corrupt than Robert Mugabe's and anyone who does not beleive that is not worth wasting your breath speaking to. This is a deal that has been sorted behind closed doors and yet again allows another bank to keep its billions and will get more tax breaks somewhere in the future whilst trading as Welcome Finance Ltd.

What about the directors who have been drawing rediculous salaries for God knows how long? Surely there are criminal charges to be answered as they are the ones who set targets like 100% PPI penetration. As a qualified mortgage adviser i could go to jail for fudging peoples income or even not carrying out the correct money laundering checks, the difference is i, like every other mortgage advise/broker are just little fish and the only people the FSA actively seek. The FSA are there to help and protect us, Is there anyone out there who can honestly put up their hand and say they do a good job????

Does anyone think it is worth setting up a petition? Or are we gonna sit back and take up the ass, again???

[leclerc]

Re: Welcome Finance PPI claims to go through FSCS

Hi all,

This is just another victory for the banks. Why the hell should Welcome Finance be able to broker this deal. Via this deal they will repair their corrupt balance sheets allowing them to carry on trading under another name or sell their book to the highest bidder which by the way will be a million times more than they could have done six months ago. Why should this highly illegal lending institute be able to get away with this? They will have paid no tax for years due to losses etc and within 1-2 years they will be back lending as corruptly as ever. It gives rise to anyother lender who is still currently suffering to broker the same sort of deal which ultimately screws the genreal public.

The question is are we going to stand back and let this happen. People must see the bigger picture, if this has been allowed to happen then we can all give up any hope of a favourable result from the JR and i would assume that all PPI claims will be dead within 6-12 months as the other banks will come out and argue their cases.

This is all down to the useless people we elect into (or dont elect into) power, the banks rule the world and until we have a government who acts as they are supposed to in our best interests then things will carry on getting worse. Our government is as corrupt if not more corrupt than Robert Mugabe's and anyone who does not beleive that is not worth wasting your breath speaking to. This is a deal that has been sorted behind closed doors and yet again allows another bank to keep its billions and will get more tax breaks somewhere in the future whilst trading as Welcome Finance Ltd.

What about the directors who have been drawing rediculous salaries for God knows how long? Surely there are criminal charges to be answered as they are the ones who set targets like 100% PPI penetration. As a qualified mortgage adviser i could go to jail for fudging peoples income or even not carrying out the correct money laundering checks, the difference is i, like every other mortgage advise/broker are just little fish and the only people the FSA actively seek. The FSA are there to help and protect us, Is there anyone out there who can honestly put up their hand and say they do a good job????

Does anyone think it is worth setting up a petition? Or are we gonna sit back and take up the ass, again???

Shall I copy and paste my response again?

You need to take up a hobby like boxing or perhaps get a stress ball. Calm down and people have fudged other people's incomes(remember that Apprentice candidate?) and have got into trouble.

[Bonce]

Re: Welcome Finance PPI claims to go through FSCS

The apprentice candidate? what are you talkin about, is that really in the same context?? You need to get a hobby because you obviously post on here for the fun of it as you cannot give a decent response on a serious subject, get some real friends and leave these cyber ones alone.

[leclerc]

Re: Welcome Finance PPI claims to go through FSCS

The apprentice candidate? what are you talkin about, is that really in the same context?? You need to get a hobby because you obviously post on here for the fun of it as you cannot give a decent response on a serious subject, get some real friends and leave these cyber ones alone.

You said corrupt this and that, you said let's start a petition. Utter ridiculous suggestions. When you have a rational one, then I'm all ears.

Clearly, you don't read the news in your own field of expertise
BBC News - Apprentice contestant Christopher Farrell admits fraud

Reference to an Apprentice candidate who went to court over inflating customers incomes.

[Bonce]

Re: Welcome Finance PPI claims to go through FSCS

Come on then, whats your suggestion, brains?

[WendyB]

Re: Welcome Finance PPI claims to go through FSCS

Why is it such a big deal that any PPI refund will be offset against balance owing? Surely this will reduce the balances owing and therefore in a way be better for the debtor? i.e paying the balance off quicker/reducing/restructuring monthly payments etc/reducing total amount interest payable because of decreasing the capital now owing?

[Bonce]

Re: Welcome Finance PPI claims to go through FSCS

I did not say that i had no knowledge of what you were saying, i simply said, what the hell are you on about?

[EXC]

Re: Welcome Finance PPI claims to go through FSCS

Does anyone think it is worth setting up a petition?

If we are are to believe what you say about the Government being ''as corrupt if not more corrupt than Robert Mugabe's'' then the answer is staring you in the face - 'no'.

[skv123]

Re: Welcome Finance PPI claims to go through FSCS

Why is it such a big deal that any PPI refund will be offset against balance owing? Surely this will reduce the balances owing and therefore in a way be better for the debtor? i.e paying the balance off quicker/reducing/restructuring monthly payments etc/reducing total amount interest payable because of decreasing the capital now owing?

It shouldn't be a concern for consumers taking their complaints direct. It will however be worrying for the consumers that find themselves signed up with a CMC or Solicitors firm. As they will be left with new debt owed to the CMC once the claim is complete.

Obviously their overall debt will be reduced but they will have a further entity breathing down their necks if this were to occur.