Welcome Finance/Aviva/FOS - what now ?

[di30]

Re: Welcome Finance/Aviva/FOS - what now ?

The FOS will investigate against the underwriter/insurer if they were regulated, it's likely they were, so give the FOS a call.

It may however take some time, but they will check what liabilities they also had when the policy was sold to you.
As they were the underwriter, the paperwork is passed on to them to check, and also check if it was a suitable policy for the client, so even if they are not present at the sale of the policy, they still had duties to follow to ensure the policy was suitable for the client.

The FOS will take all this into account.

[Mr Kangaroo]

Re: Welcome Finance/Aviva/FOS - what now ?

Hi di30! Thank you ever so much for this. I am sorry I jumped onto this thread but like I said our issues are similar. Also, I am having difficulties understanding the PPI calculator. Would you help me calculate (roughly) if successful how much could be awarded with the following figures? PPI premium front loaded £320, APR 46%, number of months for repayment 42, Monthly Instalment £210, Finance charges £3900, amount financed £4700?

Cheers!

[miliitant]

Re: Welcome Finance/Aviva/FOS - what now ?

Welcome have written back and said nothing to do with them, it was the insurance company that were responsible and said this was final response. Any ideas what to do now ?

letter before action

[dogtired]

Re: Welcome Finance/Aviva/FOS - what now ?

Having the same "problem" so sub, with intrest

[miliitant]

Re: Welcome Finance/Aviva/FOS - what now ?

i am in the process of doing a letter before action, i have been off the grid for a few days due to the TUC demo IN LONDON today

i have just about finished a letter before action to be used as a template and i will post it on this thread in the next few days

[Bill-K]

Re: Welcome Finance/Aviva/FOS - what now ?

Apologies for the hi-jack, Daisy, but you might find this spreadsheet/calculator useful yourself. I'm not sure which PPI calculator you're using Mr K, but this is the one we tend to use here. You just need to fill in the remaining answers (in the boxes I've yellow-tinted for you, and it should work it all out for you.

[Hurricane Puffrose]

Re: Welcome Finance/Aviva/FOS - what now ?

BUMPED

[Mr Kangaroo]

Re: Welcome Finance/Aviva/FOS - what now ?

Hi Bill-K, thanks for the calculator, very easy to use.

[Daisymac]

Re: Welcome Finance/Aviva/FOS - what now ?

I have had no luck what so ever with this, Welcome are not playing ball, the FOS have it now and they have heard from Aviva who are saying nothing to do with them, stuck now and will be a long long wait for the FOS to fight this one, I don't think I know of any success against the insurer, does anybody else ?

[dogtired]

Re: Welcome Finance/Aviva/FOS - what now ?

Not yet, but CAB man says patience is a virtue, you have to be with this lot xx

[Daisymac]

Re: Welcome Finance/Aviva/FOS - what now ?

Is it still worth sending a letter before action to Welcome ? and if so what what should I say ?, this is a copy of what they sent me:

As I understand your complaint, you are dissatisfied with our final response letter dated 22nd August, in which we have rejected your claim for mis-sale of Payment Protection Insurance (PPI).
You have stated that at the time of your loan and the sale of the PPI policy Welcome Financial Services Limited (WFSL) were regulated by the Finance and Leasing Association (FLA). At this time the business did subscribe to the Lending Code and were members of the FLA. However, this is not a regulatory body like the Financial Services Authority (FSA), by which all financial services are now regulated.
On 27th February 2003, WFSL voluntarily joined the General Insurance Standards Council (GISC) resulting in the regulation of sales of general insurance through WFSL. Prior to this date, WFSL were not regulated and therefore were not responsible for the sale of the insurance.
Sales of insurance made before this date were the responsibility of the insurance provider, not the broker who sold them. Accordingly, you may wish to contact your insurance provider if you feel the policy was mis-sold to you.
I am sorry that my response is not what you had hoped for. However, I must uphold our original decision not to investigate your complaint, for the reasons stated above.

This is my final response. If you are not happy with my decision, you may send your complaint to the Financial Ombudsman Service (FOS). If you want to send your complaint to the FOS you must do so within six months from the date of this letter.

[dogtired]

Re: Welcome Finance/Aviva/FOS - what now ?

Not sure as I had the same reply and have taken it to the FOS, regarding Aviva but early days as yet, hoping that you can get someone more knowledgeable then me to advise you.

[Daisymac]

Re: Welcome Finance/Aviva/FOS - what now ?

The FOS went after Aviva for me and Aviva rejected as well.

[dogtired]

Re: Welcome Finance/Aviva/FOS - what now ?

Were Direct Group also on your origanal documents, they also rejected.
It would seem, from other posts Welcome "used" both names but actually set these up themselves and charged you for it, along with the other rip off charges

[miliitant]

Re: Welcome Finance/Aviva/FOS - what now ?

if welcome have rejected you, what has the FLA SAY in their final response

ANY NEWS ON DIRECT GROUP ASWELL