Update Everyone

I have recieved my SAR and statements today and sure enough the statements say I owe these £700 arrears but I still cant tally it up as to why I do. The first thing I noticed was obviously the PPI and LifeCare - which I will be claiming back! There are all the odd telephone charges and letters on there aswell as all the interest but I cant work out if my figures are all correct and if I do actually owe then these arrears, which I dont think I do!

Could someone please have a look at my statement and check my figures and give me any advice. Im extremely grateful for your help and im having a go myself but my head is mashed and I have nobody else to ask who isnt already as clueless as me!

Thanks all!

Sorry attachments went on in wrong order the first one is the 'scan' and then 'scan0001, 0002 and 0003'

Scan0001.pdf

Scan0003.pdf

Scan0002.pdf

Scan.pdf

default sum fee int

unpaid dd fee

letter

telephone

i bet those + int add up to £700

total up your payments too and i bet its the rightfigure you should have paid with out charges/fees+ the int they charge on them.

dx

Thanks for reply dx, I thought as much.

I will fire a letter at them tomorrow stating they owe me not the other way around! Think its also a good time with starting the ball rolling on my PPI claim!

In the meantime I shall not speak to them via phone.

please post ref to the last

i.e........where are you getting this from?

dx

http://www.bbc.co.uk/news/business-12624895

Welcome PPI claims taken over by FCS - 2nd March 2011

 

The Financial Services Compensation Scheme (FSCS) is taking over claims against Welcome Finance for mis-selling payment protection insurance (PPI).

Nice one! Thanks for the heads up on that! Should make my job a little easier..

Hiya Everyone,

Welcome are being a pain in the neck and are ignoring my letters! Can anyone take a quick look at my statements above and tell me what the payment reversals are where they have added money onto my account and also default sum fee interest which is present nearly every month. Im trying to make sense of statements and they just dont add up. Can anyone see anything dodgy on there.

I cant fight my corner if I dont know what im talking about.

Thanks all

everything like that can be reclaimed

pers i'd follow the FSCS route now

parcel all the paperwork off

let them do it

dx

Yeah I am doing that, they are sending me an application form.

In the meantime welcome have posted another letter by hand saying I owe 700 in arrears. Am I going to have to pay this just to get them off my back or looking at my statements do I have a strong case and carry on not paying them a penny.

Thanks!

Received a letter today to say they have rejected my complaint and have listed why etc.

They say they are looking into the lifecare insurance being missold but as for the charges they are not refunding these etc and my arrears still stand as they are..

Should I bother taking this to the ombudsman? Have people got charges back etc ..

Thanks

Tink

Hopefully I'm not too late to stop you paying these low life?

Pay NOTHING until they provide you with evidence of why you need to pay more.

Only thing is they'll trash your credit rating in the meantime - and if you're otherwise squeeky clean that could screw you up for other loans/mortgages for the next 6 years! It disgusting - but not illegal - for them to act like that. However if you prove you owe nothing they'll need to fix it with CRA's - but that could be months away.

Do you have all your paperwork? If not, then you should do a SAR to establish just why they claim you are £700 in arrears.

BD

Thanks for your reply Bigdebtor..

Sorry its taken me a while to reply.

I sent for a SAR and they sent me my statements. I then put in a complaint with them to which they replied that they were rejecting my complaint and that my £700 arrears still stands. They say its made up from the interest from when I was in arrears and from charges which they believe they are well within their rights to charge me for.

Ive then sent it to the ombudsman - would you say that I have a fair chance. the 4 page letter they sent me with all the reasons was pretty laughable! Hope the ombudsman does not side with them!

Thanks again all.

Tink

I have just had another look at your pdf's to refresh my memory. First thing is as you say the amount charged for PPI is MASSIVE - well over £1000 on a £2500 loan - AND it's added up front AND they then charge you 48% ANNUAL INTEREST on it too - which amounts to another £700 plus interest charged over the term period.

The whole thing is DISGUSTING. Far from you owing THEM £700, they owe YOU at least £1800 - and that's just for refund of PPI and interest on it.

Then there's the question of the charges. They list interest on these charges as DEFAULT SUM FEE INTEREST. IMHO that means they are defining the "default sums" (for reminder letters, phone calls etc) as PENALTIES. I know the Jury's still out (in Scotland at least) on Bank Charges - and the Banks have won the spurious argument they were not Penalities anyway - but on the other hand I know it's possible to get ALL of Credit Card charges refunded (plus associated contractual interest) but I don't know about Charges on Loans like your one - although I believe these can ALSO be reclaimed in full PLUS interest if they're seen as penalties.

In summary - go through the whole statement and remove ALL PPI charges - AND the interest - AND all Default charges in FULL (not just any amount over £12) and INTEREST charged on them - and see what that lot comes too.

Use Unfair Charges (and PPI reclaim) templates from here and tell them to pay up or you'll take them to Small Claims Court. I bet they'll blunder and bluster but eventually pay up! Post up your draft letter on here (no exact sums - so you're not identified) so we can advise on it before you send it.

I also think 48% interest is obscene - especially when coupled with the huge PPI charges (to which interest is also added!) - but this Old Etonian Government is even allowing loan sharks to advertise short term loans on TV with apr's showing of over 1400% apr - so they would say your 48% was a bargain (but someone's got to be fleeced to pay Eton's fees!).

BTW - you can still see your account number through the black pen score outs - and dates of the loan might also help identify you.

Good luck! Keep us posted.

BD

eeek thanks for the heads up BD wont let me delete the attachments though, its being a pain. Any ideas?

Jees I had no idea it all mounted up to that for the PPI, I know I have to wait for the FSCS to contact me with an application form but not received anything as yet.

Well there is no way they are getting another penny out of me now. I shall just have to do as you say.

Should I use the unfair charges templates to send them from here even though I have already sent it to the

ombudman?

Really appreciate your help!

I don't see why you can't start your reclaim of both unfair cahrges and PPI - PLUS ALL ASSOCIATED interest - direct with Welcome right now.

In fact I'd get it done PDQ as I have heard on here somewhere they're in deep financial doo doo!

Whilst I'm very glad to hear it - I'm also concerend it might mean people don't get back what they've been duped out of ove rthe years.

BD

Yup that was my thoughts exactly. I shall draft up a letter and send it to them Monday. Im not too cracking on working out the figures even though my maths is fine - but with your help on here I know im on the right tracks.

I shall keep you updated and thanks again, you've been a big help!

Tink..

you need to follow http://www.consumeractiongroup.co.uk/forum/showthread.php?299809-Welcome-Finance-All-Welcome-PPI-reclaimants-read-me....FSCS-declares-war-on-Welcome-amp-PPI instructions not go through welcome

dx

Looked at my bank this morning to check my wages had gone in - nearly fell off my chair.

2 weeks ago i received an application form from the FSCS - filled it in sent it back, got some money back today. I reckon some of it has gone to WF for these 'arrears' they say I owe but at the end of the day ive got some of my hard earned cash back!

Dont give up, if you have received the form make you send it off!

Thank you to all those who have helped on the site - I will be making a donation and still logging on to help others in any way I can..

Tink

Congrats !! Just wondering if anyone pre 2005 has had much success ?

Morning All,

Just thought I would update anyone wishing to claim back their Lifecare24 insurance that I received an application form from the FSCS yesterday to claim my money back.

I sent an email a few months ago to make sure I was on the list and I received my form yesterday. I will let you all know how I get on.

Tink

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