PPi claim with the claim guys

[lisa1975]

The claims guy a company specialising in PPI claim took on my case with welcome finance for two loan agreements I had, I filled out their forms and returned a copy of the agreement which I had obtained from welcome finance. They advised me that I had a case also that welcome had admitted errors with my agreement I heard nothing for a few more weeks so I called the claim guys and asked how my claim was going they told me that welcome finance were no longer looking at my claim because the dates they sold the ppi to me was before pre regulations I asked that surely a company like them should have realised this before starting a claim. I asked what the date was and was told 27/2/2003. I explained that my loans were after the first was 14/03/2003 the top up was 27/01/2004 they couldn't understand why my claim wasn't being persued I was told they would look into my claim and speak with their management as to why my claim was not being persued they would then call me. When they called back they said that the pre regulation date had been updated and was now before 24/01/2005. I have asked them to put this in writting to me as I will be contacting the obdusman and they told me I would get no further going this way either. The whole credit agreement to me is extortinate and I would like to challenge welcome finance in regards to the ppi and the credit agreement. Please advise if I should go ahead or is this company right that I should give up.
I have attached my agreements im baffled as nothing adds up the way you would expect. thanks

[rhos123]

did you complain to welcome finance in the first instance? what reasons do you have with reguard to the mis-sold PPI on these loans. also when did the loans end?

[lisa1975]

Thank you, that helps just didn't know who to listen to. Should I contact them stating this or should I go with the obdusman I've lodged a complaint with them but need to wait eight weeks for welcome to investigate my complaint? Thanks again

[pompeyfaith]

pre regulations lol what a load of bull there are no such regulations for PPI refunds.

You can claim back to as far as you have proof.

Claims management companies are a waste of space and making the claiming process more confusing to consumers.

I would ditch them and do it yourself because why pay them part of the money when you can have it all

It is not hard to do and there is plenty of help for you on this site

PF

[lisa1975]

The claim guys took the case on with welcome approximately at the end of January this year. They claim was closed by welcome on Monday since them I have telephoned the obdusman with my coplaint against welcome. My complaint is that when you times the monthly payment by the number of months the loan runs for don't add up. I'm no good at apr so can't say for sure if this is correct both these loans are paid and settled the first one ended January 2004 the latter was settled with a settlement figure of £2000 in July 2006 lthough I had already paid over £3500. The first one started as a £1000 loan I had paid £932 but was charged £1268 to settle this figure was added to the top up loan.I wAsn't aware with the loans that there was insurance it wasn't explained to us at all. We recieved no information in any way regarding PPI insurance .

[rhos123]

send a formal letter of complaint to welcome, stating the reasons why you have been mis-sold the PPI on these loans, i belive the fos will only look into this after welcome send you a final response letter, welcome have up to 8 weeks to reply , and as pf says claims companies are a waste of space, they also take a cut of your money. have a good read on the ppi forum. there is some exellent info

[lisa1975]

Welcome told me that they are no longer investigating my complaint I have asked for this in writing. I have also requested a full explanation in writing of why the claims guys aren't investigating my claim requesting a copy of the corespondance from welcome regarding my claim. Although the comliance team informed me in telephone call my claim was closed. They have recieved my complaint fro the obdusman I recieved a letter regards this and awaitvtheir final response. The PPI claim was only being dealt with by the claims guys the obdusman complaint is regarding the credit agreement only. Thanks for your advice it is sooooo appreciated!

[rhos123]

Originally Posted by lisa1975

Welcome told me that they are no longer investigating my complaint I have asked for this in writing. I have also requested a full explanation in writing of why the claims guys aren't investigating my claim requesting a copy of the corespondance from welcome regarding my claim. Although the comliance team informed me in telephone call my claim was closed. They have recieved my complaint fro the obdusman I recieved a letter regards this and awaitvtheir final response. The PPI claim was only being dealt with by the claims guys the obdusman complaint is regarding the credit agreement only. Thanks for your advice it is sooooo appreciated!

sorry but you seem to have separate issues, did you send a formal letter of complaint to welcome about the mis-sold ppi ? what is the complaint regarding the credit agreement?

[lisa1975]

The claims guys were dealing with the PPI claim on my behalf I didn't know how to go about it at all. It was one of their people who advised me that the credit agreement should also looked at although they didn't deal with this kind of claim.
There is a total amount of loan as £1488
times the payments of £158.61 by number of months 12, equals £1903.32
this figure is nowhere ont the agreement also to settle the loan I had to pay £1280.16 although I had already paid £932 to the account add these two together equals £2212.16 another figure not shown anywhere. The second agreement is also like this only for a larger amount.
I asked the claims guys if I should look into the agreement and they advised complaining to the fso so I called and explained all and a complaint was lodged by the fso to welcome regarding the credit agreement. I have been told that many different things from different people I wonder am I going to get anywhere.
The credit agreement complaint is :
amount of cash advanced: £1000
other: £225
payment protection insurance £188.60
amount of credit:14313.60
acceptance fee: £75

[lisa1975]

I am online on my phone last statement has jiggled about a bit sorry about that. I will log back on tomorrow from my pc. Sorry if I've not explained all correctly ant thanks again for your advice.

[lisa1975]

I received this final response from welcome this morning.
I am sorry that you have had to make a complaint. At welcome financial services wevtake complaints very seriously and will do our best to resolve the issuess as quickly as possible.

I regret to inform you that my decision is to reject you're complaint because it is outside the relevant time limits. I understand this will be a dissapointment but what follows is my explanation of why I have rejected your complaint and how the time limit applies.

The rules of our regulator FSA state that where a complaint relates to an event that took place more than six years ago we are not required to investigate your complaint.

It then goes on to say this is because it is very difficult to fairly investigate events that took place a long time ago. The law also allows firms to destroy documents and records more than six years old. This makes a fair investigation very difficult.

It then goes on about how to complain to the Ombudsman.

What is my next step from here do I write to welcome again or go to the Ombudsman any advice you can offer is greatly appreciated thanks again