Welcome Finance Pre 2005 Help

[Poppetchops]

Good evening,

I have just come across this website after researching reclaiming ppi. My friend went through a company and has just received a payout of £8500. It would have been more if it wasn't for the fees of course.

Anyway, I thought I would try myself. I had numerous loans with Welcome (by that I mean I was constantly topping them up) - stupid I know but I was naive and with a loser at the time who persuaded me it was a good idea..lesson learnt.

I sent off a template to Welcome using an address on their website and am awaiting a response. From reading on here, it seems it is very difficult to be successful pre 2005 with Welcome but I thought for a few recorded delivery letters and a bit of time, it is worth a go!
Now I suspect that I will get some kind of knock back letter from them (if they reply at all) so I am just wanting to prepare myself for the next step.

I notice some people mention approaching the underwriters - Should I have requested details of the underwriters at the time I sent my letter?

And if Welcome come back saying 'no can do', can someone tell me what my next step would be please??

Many thanks in advance.

Poppet.

[di30]

Re: Welcome Finance Pre 2005 Help

Hi and welcome (no pun intended) lol!

Did welcome set up all the loans, or were they just the lender?

I note you said you have many loans with them.

Whoever set up the loan/finance are usually the ones you pursue, so for example, I had 2 loans with the same lender, but the first loan with them was set up by the broker, and a further advance sorted directly with the lender, so in my case, I had to pursue the broker for the first loan and the lender for the 2nd loan.

The underwriter is the final avenue suggested by the Financial ombudsman service (FOS) for ex, many loans/finance were non FSA regulated before Jan 2005, however, if you had a loan after Jan 2005, you can take it to the financial compensation scheme (FSCS) google FSCS - Welcome finance for more details.

Definately worth having a go yourself and yes do ask for details of the underwriter, and let us know, we can sort out a letter to send to them if needs be,:tinysmile_twink_t2:

[Poppetchops]

Re: Welcome Finance Pre 2005 Help

Hi Di!

Thank you for replying.

When I say I had loads of loans, I meant one that I topped up a lot and one hp for a car. Both were fully settled (early) in 2005. I always got them through Welcome directly as they had a branch in my home town.

I have the account numbers but not the agreements so I sent the letter with the account number in the hope it will make them think I have the agreements. I might as well wait until they respond (if they do) and then take the next step from there. I wonder if it is worth doing a sar as well to see what exactly they have on me. I know without a shadow of a doubt that I had and paid PPI and that I was not even given the option of it. Basically told it was part of the loan and wouldn't get it if I didn't have the PPI on it.

[di30]

Re: Welcome Finance Pre 2005 Help

Hi there

Thanks for the info :-)

I can post up the SAR if you not came across one on here let, let me know if you do and i will be along later on :-)