Reclaim Mis Sold PPI Against Welcome Finance

Welcome Finance Reclaim Mis Sold PPI

If you have ever had a loan with Welcome Financial Services or any of it’s trading names, then there is every chance that you have been mis-sold PPI with your borrowing. Especially if you took a loan or secured loan, through their U.K. branch network, or borrowed through Welcome Car Finance. All of the Welcome Group looked to provide finance to to the sub prime market. That’s to say individuals who had credit issues and might otherwise be denied credit through the normal lending channels.

The growth of Welcome Financial Services accelerated through the late 90’s and early 2000’s. They were a big player in the credit boom, as they looked to satisfy consumer demand from the sub prime sector. People became obsessed with kitting their house out with the latest in consumer durables. It didn’t stop there either. They had to have a car to go with it too. Welcome trained all their sales staff to sell on the monthly payment and not focus on the over all cost of the borrowing.

Often clients were offered loans at one rate, only to be told, they had failed the credit scoring and the interest rate would need to increase. Like many other sub prime lenders at that time, the branch staff at Welcome were very heavily targeted to sell, sell, sell. The rewards were often huge. Sky high interest rates on loans, secured loans and with car finance, topped with Payment Protection Policies, added right from the outset, meant huge profits for Welcome. Affordability checks were all but non existent and customers were consistently re-contacted and offered even more borrowing. It was car crash lending.

With the advent of the credit crunch, Welcome soon felt the pinch and in January 2009, Welcome Car Finance was axed. Worse followed, much of their consumer debt, is now sold on and the group declared insolvent.

Welcome is the most infamous company associated with the FInancial Sevices Compensation Scheme or FSCS. Put in place, following the advent of the FCA on 14 January 20005, they offer protection for consumers mis-sold insurance by businesses that can no longer meet their financial obligations. Protection is given at 90% of each claim.

Submitting claims to Welcome, for mis-sold PPI, before or after 14 January 2005, involves two entirely different processes. At Beat the Banks, we believe that to give every single claim against Welcome for mis-sold Payment Protection Insurance, the very best chance, it’s essential to first of all recover all client lending records from Welcome. This can be a laborious process for us, but it’s the only way we process our claims. Don’t recover this level of information, then your claim turns into a guess. That’s why, we are one of the tiny minority of claims management companies who will not accept substantially abbreviated account information from any lender.

Not just that, all our claims experts are former bank lending managers and our whole team has literally hundreds of years of banking, insurance and legal experience. If you think you have been mis-sold PPI on any borrowing through Welcome Financial Services and would like to know more, you can contact our team or 01382 200474 or 0800 193 1234.

Welcome Finance And PPI

Welcome is the most infamous company associated with the Financial Services Compensation Scheme or FSCS. Put in place, following the advent of the FCA on 14 January 2005

All of the Welcome Group looked to provide finance to to the sub prime market. That’s to say individuals who had credit issues and might otherwise be denied credit through the normal lending channels.

Time is running out to make a claim against Welcome Financial Services for mis-sold PPI, the time to act is now.

From Our Clients

  • “Huge thank you to the team. After attempting to claim PPI myself and getting absolutely nowhere, I got Beat the Banks involved and ended up getting  £12,000. What a result. Beat the Banks made it so easy and were committed right to the end.”

    Shona, Dundee
  • “From previous experience of PPI claim companies, I was a bit dubious if anyone could help me but I thought I would try Beat The Banks. To say I am pleased with the service and conclusion to my claim is an understatement. Beat the banks and my claim handler in particular handled all aspects of the claim from Clydesdale Bank with professionalism, courtesy, and efficiency to secure a positive result on my behalf. I would certainly recommend the services of Beat the Banks to anyone who thinks they have PPI claim, especially with the Clydesdale Bank.”

    Mr A McQuillian
  • “Down entirely to Mike’s hard work, we previously had a successful claim with Clydesdale Bank. Mike was convinced we had more loans with PPI and he was relentless in efforts to recover our paperwork from the bank. Finally, after many attempts, enough records were recovered to submit several claims. We have now received much more compensation, covering loans going back many, many years. If it had not been for Mike and the team at Beat the Banks this would never, ever have happened. Literally, all we did was sign our name and bank the cheque.”

    T & A, Dundee
  • “I was apprehensive about using a company to claim my PPI as I had previously responded to a “cold call” and was pestered with calls. I heard about Beat The Banks on a local radio station and because they were based in Scotland I felt comfortable approaching them. I have had a very positive experience with Beat The Banks. They are not pushy and answer any queries timeously. All the Agents I have spoken to were knowledgeable, polite and friendly. After the initial information gathering conversation, they understood my needs and just got on with my claim. No hassle. Even when it was clear that my claim was of a relatively low value they processed without delay. I would definitely recommend using Beat The Banks …. they put all the other companies out there to shame.”

    Mrs S, Falkirk
  • “Excellent service so helpful, I received a substantial sum back that I had no idea I was due, thank you again to Beat The Banks especially to Gary who was so helpful and efficient in every way.”

    Mrs M, Elgin
  • “We had no paperwork but £52,500 reasons to say thank you, we are now living our Spanish dream! Exceptional service.”

    Dave & Linda , Dundee
  • “Have just found out I have won all my cases with the bank, going back many years and been awarded compensation of just over £15,000!”

    Mr S, Dingwall
  • “We really appreciate the doggedness and professionalism of Jenna and the team at Beat the Banks. This is something we’d never have gotten round to doing and we’re so glad we went through the process with professionals as we’ve now had great results. Only positives have come from the experience.”

    Mr & Mrs M, Shetland
  • “From beginning to end, Beat the Banks have been very efficient. I am very pleased with the service from Jenna and the team. I am highly delighted and I have been recommending all of my friends.”

    Mrs C, Glasgow

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