Thread: Help!!!! advice re- Welcome

Hello all, I have only just joined the forum and slowly trying to find my way around. I did post this elsewhere but was advised to start my own thread so that it does not get lost! It's to do with Welcome!

I have been with Welcome for many years and always paid them on time, never missing a payment. I am now into my 3rd car which I have had for almost 2 years now. Was paying £420 pm over 4 years with them but I lost my job last summer and am still unemployed. Each new agreement I was told I had to take PPI which I accepted. I left my job voluntarily.

I contacted them and was offered a re-write in October last year which has reduced my monthly payment to £227 pm as a fixed-sum loan agreement. This is to be paid back over 72 months @ 12.96 APR. I am sure that each of my previous agreements have consisited of a £75 acceptance fee being added but not as a seperate one-off payment but don't have my old agreements to check. There is no PPI with this re-write!

On my re-write I have the following;

Total charge for credit [consisting of] £16,346.56 [o+p] - o being the acceptance fee of £75 and p being the interest charge of £16,271.56.

I have only just started to read the post on Welcome that is now running onto 204 pages but I am lost with it all and wish I had picked up/joined much sooner!! But damage is done!

I have done my best to keep up with payments - not missed one since stupidly signing the re-write agreement but I am really struggling to keep these payments going given I am only receiving JSA and wondered what my options are?

I have only recently joined the forum so please go easy on me! Yeah, I know I am probably a fool etc etc but really need some advice on how best to proceed with this. Bankruptcy is not an option for me as it's a route I do not want to go down!

Any help would be appreciated!

Thanks for the link and will send the necessary letter to them! Bit lost on what you mean by still paying PPI?

Are you still paying withing your monthly payments, the payment protection insurance ? If you havent cancelled it already, do it now, and then submit a Subject access request to them at their complaince address in nottingham. Thats what I did and am still fighting them, any help I can give to you, I will do.

This is the initial letter I used :



Welcome Finance
Mere Way
Ruddington Fields Business Park
Ruddington
Nottingham

NG11 6NZ

DATA PROTECTION ACT 1998
Subject access request

Dear Sirs,

Re: Account Number(s) xxxxxxxxxxxxxxx

I understand that you currently hold details of my personal and financial information within your internal record systems with regard to my Loan Account(s).

Please supply me with a complete list of transactions and charges relating to the history of my loan(s) with your organisation. Alternatively a complete set of statements for the loan account(s) is acceptable. I would be grateful if you would provide the following for all loan account(s) I have held with your organisation (including but not limited to):

· Full copies of all contracts which you believe exist or have existed between myself and your organisation, including true copies of any documents you hold in support of the same.

· A complete list of all transactions or statements relating to all my Loan Accounts with your organization.

· Copies of all documents which include any of my personal information including copies of any contacts or invoices, emails or computer records containing my personal information, or any records which pertain to me.

· Full copies or transcripts of any correspondence in postal, email or any other format which you have entered into with any individual, organisation or third party which contains my personal or financial information, or which pertains to hime.

· Where any previous information or records held have been deleted or disposed of, the methods used to do so, including dates, certificates or references confirming details of destruction. Where you are unable to provide such certificates, please provide a declaration, signed by an authorized officer of your company, confirming the dates and methods of destruction of this data.

· Full hard copy print outs of my personal or financial information, held in a digital, magnetic or any other format which is held in any archives, backups or other storage devices / locations.

I enclose a cheque in the sum of £10.00 to cover your fee and request that this is acknowledged by way of a receipted invoice. You have 40 days in which to comply under section 7(10) of the Data Protection Act 1998.

IF YOU ARE UNABLE TO DEAL WITH THIS REQUEST, YOU SHOULD IMMEDIATELY FORWARD IT TO THE PERSON WITHIN YOUR ORGANISATION RESPONSIBLE FOR DATA PROTECTION.

Yours Sincerely

Mr/Mrs Tba - please do not sign your name, only print it !!!



They have 40 days to respond to this for you. I would also send them a section 77 request in the same envelope which costs £1.00. This asks them for any true executed agreements signed by both them and for you, to be sent within 12 working days. Failure by them to do so results in them being in default.

If you need anymore help, just give one of us a shout

xxx

I also meant to say, please address your complaint to the compliance dept. Lettersn sent to Welcoem have a nasty habit of not turning up and getting lost in the post - always send by recorded / special delivery, and keep copies of everything you send to them :grin:

Thanks for your response! Was going to send the SAR to the branch but will now send it to Nottingham instead! The re-write I mention above does not have PPI!

Originally Posted by legalpickle

Send all letters by SPECIAL delivery, NOT recorded.

SAR costs £10. Send postal order, not cheque. Make clear the SAR relates to the currently AND ALL PREVIOUS AGREEMENTS.

Also send CCA disclosure demand, relating to all previous accounts as well, with £1 postal order each, for each agreement.

We need to know how much you have spent on PPI for all the agreements and claim that back.

Thanks for this I will get it all posted today! My only concern is that I have no real concrete evidence to say they left me with no choice to take ppi - their word against mine!

In the meantime is it reasonable to request a 50% reduction in my monthly payments due to me being unemployed [the £227 month is stretching me and i'm relying on family to help me elsewhere] or should I continue with this while I seek info via SAR and CCA?

Thanks

Request letters sent but in meantime I have managed to find my previous agreement before the re-write and wondered if anyone can make some sense of it for me? APOLOGIES FOR THE LONG POST and hope it makes sense!

It was taken out in July 2007 and the re-write started in November 2008. I basically want to know if some of these figures are flawed in some way. If they are I wish to take this all way. PLEASE HELP!

I will try and scan up my agreement for 2007 in due course but in meantime the info is as follows;

Key finance info [48 months @£420.22 and APR of 7.7%
]
a]Amount of credit for goods...........£12,794.0 0 [P-U]
b]Amount of credit for insurance......£3,594.09 [Q]
c]Amount of credit for insur/goods...£16,388.09 [A+B]
d]Amount of credit for re-financing..£1,000.00
e]Total amount of credit................£17 ,388.09 [C+D]

f]Total amount payable for goods...£14,841.12 [A+U+X]
g]Total payable for insurances.......£4,169.2 8[Q+Y]
h]Total amount for re-financing.....£1,160.16 [D+Z]
i]Total amount payable................£2 0,170.56 [F+G+H]

Other Finance info

Insurances
j]PPI...................... .....£2,744.09
k]Mech Breakdown........£500.00
l]Emergency recov........NIL
m]Shortfall extra ins......££350.00
n]Other insurance.........NIL
o]Other insurance.........NIL

p]Cash price goods.......£12,794.00
q]Total cash for ins......£3,594.09 [J to O inclusive]
r]Total cash price........£16,388.09 [P+Q]

s]Deposit.................. .NIL
t]PX allowance...........NIL
u]Total deposit..........NIL

v]Acceptance fee......NIL
w]Fin char for goods..£2,047.12

x]Char for cred for goods...........£2,047.12 [V+W]
y]Char for cred for insurances....£575.19 [Y]
z]Char for cred for re-financing..£160.16 [Z]
Total charge for credit.............£2,782 .47 [X+Y+Z]
Rate of interest per annum.......4.00%

I had 12 months left of a car agreement from 2004 of which I was paying £220 per month when I traded the car in for the above!

I have never missed a payment of £420 from July 2007 through to October 2008. 15 months @ £420.22 before getting my re-write agreement in November of 2008.

On my re-write I have the following;

Total charge for credit [consisting of] £16,346.56 [o+p] - o being the acceptance fee of £75 and p being the interest charge of £16,271.56.

Thank you for taking the time to read this, I really need some help here while I wait for the info to arrive from WF.