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| Welcome Finance; PPI MISOLD | |
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| Topic Started: Nov 10 2006, 01:36 PM (196 Views) | |
| michfergie | Nov 10 2006, 01:36 PM Post #1 |
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I have been in contact with Welcome re the misold ppi I did not realise until now that they have misold me the policy I was told by welcome that I had to take out PPI when I bought my car otherwise I would not be able to go ahead with the finance I have contacted them and they have said they will not reduce my payments but will take the figure off the final amount a partial refund I do not trust these people I want this refunded in full in by cheque I would appreciate any help Thanks Michfergie |
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| jenni | Nov 10 2006, 01:44 PM Post #2 |
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best thing to do is too take your agreement and all other paperwork down to your local CAB for them to check over. It may be that there are other parts of the agreement that are wrong and therefore unenforceable which is what we are finding with our YCC contracts |
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<a href="http://www.dpbolvw.net/click-2359542-10365649" target="_top"> <img src="http://www.awltovhc.com/image-2359542-10365649" width="120" height="60" alt="" border="0"/></a> Applying for car finance? <a href="http://www.kqzyfj.com/click-2359542-10366647" target="_blank" onmouseover="window.status='http://www.creditexpert.co.uk';return true;" onmouseout="window.status=' ';return true;">View your Experian credit report online for FREE</a> and see what lenders will see <img src="http://www.tqlkg.com/image-2359542-10366647" width="1" height="1" border="0"/> ****************************************** Advice & opinions of the 'saynotoyes' team are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts. ****************************************** 
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| michfergie | Nov 10 2006, 02:16 PM Post #3 |
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Jenni Are this company connected to Yes Car Credit? I have the finnace agreement will CAB be able to help me? |
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| jenni | Nov 10 2006, 02:48 PM Post #4 |
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www.saynotoyes.co.uk
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no they aren't connected in anyway. its just that we are finding that a lot of these agreements are being wrongly executed and obviously the mis-selling of the PPI is definitely something you will need to get looked at by someone with legal knowledge |
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<a href="http://www.dpbolvw.net/click-2359542-10365649" target="_top"> <img src="http://www.awltovhc.com/image-2359542-10365649" width="120" height="60" alt="" border="0"/></a> Applying for car finance? <a href="http://www.kqzyfj.com/click-2359542-10366647" target="_blank" onmouseover="window.status='http://www.creditexpert.co.uk';return true;" onmouseout="window.status=' ';return true;">View your Experian credit report online for FREE</a> and see what lenders will see <img src="http://www.tqlkg.com/image-2359542-10366647" width="1" height="1" border="0"/> ****************************************** Advice & opinions of the 'saynotoyes' team are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts. ******************************************
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| multitronic | Nov 10 2006, 06:02 PM Post #5 |
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just want to say hi to everyone befor i proceed to post. i have been diverted to this site via penalty charges.co.uk my missis brought a vehicle from ycc site in nottingham but welcome finance did the financing on the car but the agreements are ycc? anyway she bought it back in 2002 she was told that the ppi had to be taken out or she wouldnt get the finance so because she needed a car she signed up on site at ycc the intrest on the car was a whopping 34%apr and the ppi was 47%apr ripped off or what the screen price was 5k she as never missed a payment the car is now settled up and stood at 13k lol anyway in aug2005 she decided to phone welcome to cancel the ppi they sed fine just put it in writing,she did,anyway she was told that her repayments wouldnt change?and even befor she requested a settlement figure the price of the car was still ending up the same 13k?we have since given them 14days pay up on this missold ppi befor court action,we have received a letter back and its a breakdown of the account when the ppi was canceld but it doesnt state ppi anywhere on it?these people are scum forcing people who are in difficulties makeing there life even worse with there dodgey deals. :angry:i am not sure of the outcome yet? 
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| Buzz | Nov 10 2006, 06:52 PM Post #6 |
www.saynotoyes.co.uk
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Hi Multitronic, Welcome to saynotoyes. I must admit I have not heard of Welcome actually financing a YCC car. YCC tended to finance their own vehicles ( Direct Auto Finance --DAF) Their finance was advertised at 19.9% although many customers who refused to take out the PPI were financed at 29.9%, but 34% eek WOW. As you were more or less told that you had to take the PPI, it was mis sold to you. This has happened many many times. Your best bet is to either take your contract to Citizens Advice who have specialists in this particular field at most, but not all of their bureaux. Alternatively, contact Stephensons solicitors. If you click on the logo at the top of the page, it will give you their contact details. They are presently involved with a few hundred complaints similar to yours. They should be able to advise you if you have a case. Please let us know how you get on. Buzz wink |
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| Bakedalasker | Nov 13 2006, 09:37 PM Post #7 |
www.saynotoyes.co.uk
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From what I am reading on other site Welcome Finance are cancelling PPI but payments are staying the same. So if you are paying say £30 a month for PPI you still end up paying this £30 but loose your PPI. How they work that out I have yet to find out. There is alot of news about PPI and getting it refunded but I have yet to see anyone being successful. Saying that though we have a user on this site who might be about to get there. Lets hope so. When I mean refund I am referringot YCC and Welcome. I have seen reports of people getting refunds from bank loans. |
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| multitronic | Nov 15 2006, 07:09 PM Post #8 |
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well got a letter back today from welcome saying you received benefit from the ppi policy from inception 2002 to 2005 wen u canceld it.the rebate you received reflected the length of time you was covered by this policy???it says the hire purchase cleary states that the insurances are optional.you also signed a customer cover decleration from agreeing to purchase this insurances. i would like to show you the agreement form lol as it as no mention of the company on the agreement form.the thing is of course there was an agreement for the ppi otherwise the car wouldnt of been financed? i first wrote to head office about this ppi they passed me on to the local branch,and now if i want to pursue them in court i must go back to head office,what a bunch of c**ts they are.so i am filing in court tomorrow. i will scan the agreement and put it up for your views on this,oh and when they was told it was done at ycc they havnt mentioned anything about it at all. |
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8:01 PM Nov 8
