YOU MAY BE OWED £1,000s IN PPI COMPENSATION FROM WELCOME FINANCE
Getting loans from banks and other lenders to fund big purchases like buying a car has become a common form of financing over the last 30 years. But along with their car finance agreements millions of consumers were also sold PPI and it now transpires that many may have been mis-sold PPI by finance providers such as Welcome Finance.
How PPI may have been mis-sold to Consumers by Welcome Finance?
- You were unaware that you were being sold the insurance by Welcome Finance.
- Welcome Finance did not check if I had any have had exclusions that made it impossible to claim on PPI policy.
- Welcome Finance told me PPI purchase was compulsory at the point of sale.
- Welcome Finance advised me that I must buy a policy from the same provider as a loan to be accepted for the motor finance.
- You did not realise you already had this type of insurance cover as part of my employment or another policy?
- You believe I was sold the wrong product by Welcome Finance.
- You was self-employed, unemployed or retired at the time of taking the motor finance.
- You had pre-existing medical conditions which meant you couldn’t claim on the policy.
- Welcome Finance have already been fined or are facing PPI queries.
What Do I need to Start My PPI Claim with Welcome Finance?
Start by finding your paperwork with evidence of mis-sold PPI. You will need this to make a claim. If you no longer have the paperwork, don’t worry we can find out if you had PPI on this or on any previous finance products and/or accounts.
If you notice that your account had PPI attached to it, think back to when it was sold to you. Can you remember when or why you agreed to it? Were you informed that it would be added?
If you can’t remember please don’t worry as this can be done during the PPI check with Welcome Finance.
How to start your PPI claim with Welcome Finance?
Please Note: The PPI deadline (29th August 2019) set by the FCA has now passed and we are no longer accepting any new PPI claims.
PPI DEADLINE FAQ’s
Is There Any Leeway In Deadline Timing?
No – the deadline is absolute. If the claim is not properly logged with the lender before midnight on August 29th it will be officially time-barred.
I already have a case(s) going through with you, what will happen to them?
The deadline is for new claims only. All existing claims will be investigated and decided normally.
I have had a case with FOS through you for ages – what will happen to it now?
All FOS investigations of current claims will be unaffected by the deadline. It is for new claims only.
Will the deadline cause any delays in my case?
No – existing cases will be processed as normal with a final decision expected within 8 to 16 weeks of acknowledgement of the claim by your lender.
What if the bank wants more information?
A request for further information from the bank means that it has been accepted and is under investigation. The usual timescale of 8 to 16 weeks for a decision will still apply.
Why is there a deadline?
The deadline was set in place by the Financial Conduct Authority (FCA), which is the UK’s financial regulator. It’s chief executive, Andrew Bailey, said at the time: “Putting in place a deadline and campaign will mean people who were potentially mis-sold PPI will be prompted to take action rather than put it off. We believe that two years is a reasonable time for consumers to decide whether they wish to make a complaint.”
“We have carefully considered the feedback we received and we still believe that introducing a deadline for PPI complaints and a communications campaign warning of the deadline will benefit consumers.”
What happens after the deadline?
The deadline is for new claims only. If your claim has already been lodged with your lender then it will be fully investigated.
What happens if my case is rejected by the lender?
If your claim is rejected then it will be passed to our specialist team who will evaluate the terms of the rejection to see whether an appeal to the Financial Ombudsman Service (FOS) might be possible and advise you of their findings.
Plevin Ruling – Making a High Commission PPI Claim with Welcome Finance
If you have raised a previous PPI complaint with Welcome Finance which was not upheld, you are now be entitled to raise a further complaint relating only to the commission charged under the new Plevin ruling on your PPI policy. Learn more about High Commission PPI Claims.
Other Car Finance Providers Facing PPI claims:
ACF Car Finance PPI Claim
Advantage Finance PPI Claim
ALD Automotive PPI Claim
Blue Motor Finance PPI Claim
BMW Financial Services PPI Claim
First National Motor Finance PPI Claim
First National Wagon Finance PPI Claim
Ford Credit PPI Claim
Hitachi Capital PPI Claim
Honda Finance PPI Claim
Lexus Financial Services PPI Claim
MotoNovo Finance PPI Claim
Northridge Finance PPI Claim
Paragon Car Finance PPI Claim
PSA Finance UK PPI Claim
Redline Finance PPI Claim
Santander Consumer Finance PPI Claim
Secured Barclayloan PPI Claim
Toyota Financial Services PPI Claim
Vauxhall Finance PPI Claim
