Thread: WELCOME CAR FINANCE - TERMINATED HP, please help!!!

Hi,
i received yesterday from WF branch letter inform me about this:
on top of letter: without prejudice
In order to protect our interest, your hire purchase account has now been terminated and the full balance of the account is now payable.......
I dont know what to do now.
Can somebody help, i lose my car now?
I have car from them since 04/2008, so nearly 2 years. I received 4th of december deufalt notice, so then i contact my local WF and after phone call i agreed to pay min. £300 in December, so i paid only £220 in December and then i never paid anything till now because had small wage over christmas. Im ready to pay now £100 and then next week again £100 bu ti dont know if i have pay or no??? My agreement is for £253 monthly...
What i need to do now? Shall i contact WF branch or send them some letter???
Please help i dont want lose my car...

Relax

This Is Total Bs From Welcome As Usual

A Termination Document Is A Legal Document To Be Used In Court So How Can They Put with out prejudice On It, Cretins

You Wont Lose The Car

Tell Me

DOES THE DN SAY PAY WITH IN 14 DAYS OR A NUMERICAL DATE INSERTED
How Long Is The Agreement Over
How Many Payments Have Been Made
Do You Have A Copy Of The Agreement

Relax

Its All Bs

Ozzy

Must Do Some Shopping

Can You Jump In For A Bit Till I Get Back

On top of letter under my name and adress is date 21 january 2010 and there is nothing about pay in 14 days, just last sentnce on letter:
We would strongly urge you to contact us as a matter of urgency. No further notices will be issued. And letter is signed and there is no any name on letter who send this...
Agreement is over 48 months, i took car 04/2008
And i have last statement from 11/2009 and i dont think a paid third, but maybe yep, need look to statement. And i have copy of agreement, got all documents and all letters from them incl. Default Notice which i received on start of december 2009, i contact local WF over phone, tell them i will pay in december £300 so they were happy but i only paid £220 i think and dont pay anything now in January. So i dont know what to do now.
The car is in good condition, serviced properly, i keep car clean all time...
Ill be ok lose the car, but then i need buy some another one.
Because i think this Welcome crap sold me this car only because the sales man knew im foreigner and i be dont understand all documents,etc...
Its long story what they did wrong since i got car from them...
Find on agreement i sold them my old car for funny £1!!! which i been told by sales man they give me £2000 for my old car, what a crap!!!
My old car was in perfect condition, yeah it was 1998 Skoda, but serviced properly.
Please help me with this crap company...

Originally Posted by ozzywizard

When post asked you if it said 14 days or numerical date i think he was refering to the default notice you received on the 4th December. If you could check this please.

I dont know what u mean what could i check???


The letter is honestly only to frighten you, as it starts without predjudice it can not be used by them or you in court.



Can you do the maths on this as it is important. If paid over a third they cannot take car without a court order.

there is info of statement from 27/11/2009:
Amount of credit provided: £12169.10
Closing balance : £8782.89

So its mean i paid £3386.21 plus i paid in 12/2009 £220.
Do i dont think its third, btw it has to be third of total amount incluiding interest or only price of the car???

We seriously need to see agreement, do you have it to post here for us, delete your personell details.

And i attached agreement and default notice letter,ok?

Ok,there is it credit agreement:
http://imgur.com/vfcdE.jpg
http://imgur.com/5Fbqf.jpg
Default notice:
http://imgur.com/kMBnP.jpg

Alright, but on top of letter is printed date 03 December 2009, is not enough in this letter?

The Default Notice Is Total Crap
Give Me An Hour And Ill Go Over The Agreement

ok, really thanx for helping me...
So this is mean on DN there has to be write after within 14 days date from when??? I thought date on top of letter is enough, so its meant i needed paid the arrears till 17/12/2009 no?
But another problem is, when i spoke with manager in december after received this DN hi said to me the total arears amount £574.89 is INCLUIDING DECEMBER payment, which is about £253. So i dont understand how they can calculate december payment due 31/12/2009 in default notice on 03/12/2009 ???!!!
Thanx again.

LETS DECODE THIS AGREEMENT

amount of credit (loan) £8174 over 4 years at 19.85 % apr

so that works out at 48 monthly payments of £241.15
interest charge will be £3401.50
total amount payable will be £11575.50

ill now move onto the insurance (gap shortfall) £420

that works out at 48 monthly payments of £12.39
interest of £174.77
totally amount payable £594.77

so interest for car is £3401.50
so interest for insurance £ 174.77

thats a total interest of £3576.27

keep with me on this

so the total amount payable is

A cost of goods (car) £8174
B intersts (car) £ 3401.50
C total (car) £11575.50

insurance total £420
interest total £ 174.77
total £ 594.77

so add total car payments £11575.50
with insurance gives £594.77

total amount payable £12,170.27 add the £1 option fee gives
£12,171.27

devide by 48 months gives a monthly figure of £253.56


thats the first welcome agreement ive seen that checks out

do you have a document called

statement of price

the dn is still crap though

how many repayments (months) have you made

give me few minutes, i copy the statement from 27/11/2009 ok?
And i try find if i have any statement price document.
So u think ale credit agreement is wrong? This is the newest agreement i have for car, i had before agreement witl all PPI, then after few weeks i cancelled all PPI and left only insurance which i been told by WF manager is better leave on, cozz in cause my car will be stolen or brake down tottaly this insurance will pay diference between payment from my insurance company and rest amount payd to WF.