Welcome Finance/Aviva/FOS - what now ?

[Daisymac]

Hello, I am new and wondering if anyone can help ?, on 12th Feb 2003 we took out a secured loan with Welcome Finance that had a lof of front loaded PPI on it, we sent in a claim to Welcome for miss-selling as we were told we couldn't have the loan without PPI. Welcome have refused the claim saying they were not regulated until 27th Feb 2003 (15 days after we took out the loan), they have said I should call Aviva who were the underwriters for the PPI, Aviva have told me they won't even consider a complaint against the miss-selling as Welcome sold the products, they even quoted to me that the FOS know their position on this. So where do I go now ?, I phone the FOS but they are saying it could take years as they would need to establish the relationship between the insurers and Welcome etc. Shall I just forget this one and continue to wish I had taken this loan out 15 days later

[miliitant]

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

usual sod off letter

send welcome a letter before action

they are responsible as before 2005 they would still have to be accredited

their acreditation would be from the financial leasing association

http://www.google.co.uk/url?sa=t&rct...5rUO43zqQWiEtA

send them a letter of complaint and see what they come back with

i know how to handle welcomes sod offs as i have been through it

[miliitant]

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

advisers selling PPI still had rules to follow. Most firms or advisers selling PPI would be covered by a code of practice imposed by one of three trade bodies: the Association of British Insurers (ABI), the General Insurance Standards Council (GISC) or the Finance and Leasing Association (FLA).

All three codes of practice required advisers to provide information at the time the insurance was taken out, to help you decide if the policy was suitable for you.

Essentially, advisers and firms were required to cover the same points as they do according to the current rules.
No extra requirements for advice

The main difference between sales before and after regulation is that all sales before regulation were 'non-advised', as the 'advised' regime didn’t come in until regulation was introduced.

So, even if your policy was sold to you before 14 January 2005, if the adviser didn’t cover the points under 'all sales' on the PPI – the rules page, then you may have been mis-sold and should make a complaint.

With advised sales, the adviser must issue a demands and needs statement to show why a particular policy has been recommended and why it is suitable for you.

Firms or advisers giving advised sales must keep records showing that a suitable recommendation was made, and recording any demands and needs that might not have been met.
After the sale

[Daisymac]

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

It wasn't for a car though it was a secured loan on top of our Mortage so would the financial leasing association cover that ?, where would I get a letter before action letter template ? The FOS have even confirmed that Welcome were only covered from 27th Feb 2003 and the loan we had was 15 days before that

[miliitant]

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

it may have been for a loan but the financial leasing authority would be the controling factor as it would be up to them to make sure the welcome sale staff were adaquatley trained

or just write to all three and ask did they affiliate to welcome financial services to sell insurance products before 2005, (CODE OF PRACTICE) see what they come back with

the Association of British Insurers (ABI), the General Insurance Standards Council (GISC) or the Finance and Leasing Association (FLA).

[miliitant]

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

WHEN WELCOME SENT ME A BRIEF SOD OFF LETER I SENT THEM THIS AND ISSUED A LETTER BEFORE ACTION

thank you for your letter dated zyx in refuting my claim for the misselling of insurance products and i direct you to the following case in my reply

Arkell versus Pressdram

I HAD THE REMANING LOAN PAID OFF ONCE I ISSUED A CLAIM, NEVER WENT IN FRONT OF A JUDGE THOUGH

[Daisymac]

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

Have you got a full copy of the letter you sent you could send me ? I would be so grateful

[miliitant]

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

i will have to go to my mobile hard drive to retrieve it, thats at work

check back tomorrow

might i sugest you google

Arkell v Pressdram

before you decide to send it :tung:

it is from a private eye case

[Daisymac]

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

ha ha, just read Arkell v Pressdram

[Daisymac]

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

The FOS won't take this case either, I cant find out who Welcome were regulated by in early Feb 2003, think this maybe a lost one, I am not sure I could even put together a letter to Welcome, if they werent regulated what am I telling them they miss sold against ?

[miliitant]

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

they had to be regulated by at least one of the three companies

just send welcome a letter and ask them to begin with as to who regulated their insurance crap

they can only say no

if they do, send a complaint to the financial ombudsman for compliance

dont give up now, battle has only just started

[Daisymac]

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

OK thanks, will compose the letter now, they try and wear you down dont they :-(

[miliitant]

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

OK thanks, will compose the letter now, they try and wear you down dont they :-(

thats welcome for you

send recorded delivery as they will deny ever receiving it

[Daisymac]

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 ?

[Mr Kangaroo]

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

Hello Daisymac, I am in similar situation! Has anything come up since you last posted this?