Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
3½ years ago i took out a loan with (un)welcome finance for £2,800, i stuck to the payments until last may when i was signed off sick. I managed to keep up with almost full payments, give or take £20 each month. In september i was no longer able to pay anything as i am on sickness benefit. I had a meeting with my 'account manager' who was totally incompetent and told me that 3½ days' extra interest was being added each month as the payment date was set at the 25th of each month. I told him that i hadn't signed for this date and the actual payment date was 1st of each month. He said he would arrrange for any 'unecessary' charges to be taken off the account. he told me the balance owed on this account was £2,200!!! I wrote him a letter the following day which i faxed to him and in this letter i set out what we had agreed and that i looked forward to receiving his written confirmation, that he would reduce the debt by approximately £800 - this being the amount of extra charges. Many telephone calls with different people all saying different things and several letters later i received an interesting telephone call from the branch, who basically wanted me, and insisted quite strongly, that i refinanced the account over a TEN YEAR PERIOD to reduce the payments to a manageable amount - my response was NEVER. He said that was the only way they could help and that once i had reached the level that i owe at this moment in time, they would write the rest of the debt off! The sense in this? to ensure THEY got their money. In short, i have written and stated that 'i am aware the loan is of an unsecured nature and that yes they could take me to court for the monies owed, but in reality they would never see the money as i can't afford to pay it'. They never responded to my letters or phone calls until eventually a member of staff with a brain (or half a one) telephoned me and actually sent me the info i had been asking for which was a balance on the account and a payment schedule of all my payments. I then was informed that i didn't actually owe them £2200 (after 45 payments) I actually owed them £3,850. I have made payments to them of £4,800 up to date, so how can i still owe them £3,850? OMG what am or can i do about it? anything?
It would appear your account is being loaded with penalty charges that can probably be disputed. You in luck, as your account will have been opened under the Consumer Credit Act,and these penalties can be challenged. Since most of these firms are pretty bad at providing statements, you could ask them for to provide you with a SAR and this will let you calculate the charges yourself, reject them and seek the correct amount they are due.
You were wise not to enter into another agreement, as this would have put you deeper in debt. Sort this one out first, then don;t go near them again once it's paid off.
When they eventually sent me a statement of my account, i reproduced it on a spreadsheet on my own computer to match theirs (including the calculations - which turned out to be right!) and saw that although i was paying £120 per month, only about £20 came off the actual debt. I was amazed, and although i know they are the worst financial provider to use (now) i got involved with them when i was extremely vulnerable (which is how they get people like me i suppose) with grief following the death of my daughter.
I asked them to write off the rest of the debt and actually they didn't say NO but then they didn't say YES either.
I feel like just not paying them anything any more and seeing what happens, but i suppose this would be like being an ostrich.
I have told them that i will be challenging the outstanding balance - but i don't know what i am going to do first. would it help if i attached the spreadsheet?
Asking them to write off the debt - even if they could, would mean someone, somewhere would be reprimanded - unless they were high enough up the managerial chain. I've not crunched the numbers, but if you make a payment of £120 and only 18% of this is going to clear the capital, something is wrong. Ignoring it isn;t the solution, but there's nothing to stop you challenging the charges every step of the way, and after a good number of exchanges, they may find it prudent to bring the matter to an early close with a final part-payment (if you possibly can). You could spped this up by saying you're leaving the country and want to settle your affairs before departure... get my drift? THe reasoning is if they don'y settle, their chance of recovery is slim, so it is better to get something.
get a copy of the office of fair tradings guidelines for non status lenders these clearly state that if the amount your paying back is almost solely taken up in chartges then the lender is acting wrongly - cant remember the exact wording, but def recommend you get a copy. Then write to Welcome stating the paragraph number and tell them to do something about it else you will report them
also to everyone else - GET A COPY OF THE GUIDELINES! these clearly state that the office of fair trading recommend that lenders do not repossess borrowers house - also loads of information in there about phone calls, home visits and what is right and wrong. Strongly suggest to every to GET A COPY!!
£914.00 unfair bank charges recovered from NatWest after 1st letter
£255.00 unfair bank charges recovered from RBS after 1st letter
Welcome Finance cannot supply original agreement, N1 issued for charges, PPI & interest total over £3k
Woolwich 2 defaults removed, 1 ccj removed. My credit file is now clean
I took out a finance agreement in 2004 for a new motor with (un)Welcome finance, over 5 years.
About 2 years into the agreement, I missed a payment, (Ulster bank had put a charge on my account, which left "insufficient funds" in my account)
Which is another normal bank [problem], to rip us off.
I then called (Un)Welcome finance, and agreed to increase the payments by £20 each month, to clear the arrears. (which was never reduced, back to the original payments, after the arrears was cleared).
Last August, I called them and asked for a balance, as I had intended to clear the remainder.
It was £1100, Which was about £300 more than I had estimated it to be.
Suprise, Surprise!!
I then payed them £800, and asked how long did I have to clear the other £300, They told me, as it was a small amount, that they would allow until the end of February (2010)
I got a letter in in February, saying that I still owed them £590, (DOUBLE)
So I called AGAIN, and asked, as I couldn't clear that in one go, could I pay £60 per month until it was cleared. Brian (the welcome guy), said that would be OK.
Asked when I would pay the first payment, and I said March. This was agreeded by him.
I got a "Court Threat" letter from them last week, for the full balance.
I called again, and asked why? As they had agreed to the new payments.
The guy, was abrupt, and sugessted, " you didn't agree it with me", and asked who I had spoken too?. I said Brian.
"Brian who?", he snapped. No Surname was given, and I told him this to which he said, there a few Brian's in here, so it could have been anyone.
(What a cop out)
I asked his name and he said "Remi", "and your surname?" I don't give my surname, he said, LOL.
I asked for a balance in writing. Got a letter for another £20 charge first, then the balance came the following day. ( Wednesday of this week)
Now £629. I am clearing it in full today, and will seek legal advise, if they
send anymore demands.
Unwelcome finance
Hi can anyone help with this matter?
. I managed to keep up with almost full payments, give or take £20 each month. In september i was no longer able to pay anything as i am on sickness benefit. I had a meeting with my 'account manager' who was totally incompetent and told me that 3½ days' extra interest was being added each month as the payment date was set at the 25th of each month. I told him that i hadn't signed for this date and the actual payment date was 1st of each month. He said he would arrrange for any 'unecessary' charges to be taken off the account. he told me the balance owed on this account was £2,200!!! I wrote him a letter the following day which i faxed to him and in this letter i set out what we had agreed and that i looked forward to receiving his written confirmation, that he would reduce the debt by approximately £800 - this being the amount of extra charges. Many telephone calls
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