Hi can anyone give any advice on this recent letter from Welcome Finance See below Agreement number • I write regarding your letter dated 10th April 2007, which we received on 14th May 2007, the contents of which are noted. I have once again examined the issues you raise, and can comment as follows. I note your continued assertions that our charges can be construed as Penalty Fees, and are allegedly excessive. However, as stated in our previous letter to you, we do not consider our charges to be either excessive or disproportionate, and consequently not unlawful. Further to your claim that the charges applied to your account are penalties, and your request for us to provide a complete breakdown of each of these charges, please note that the burden of proof in this matter rests on you, as stated at paragraph 69 of Murray -v- Leisureplay PLC : [2005] EWCA Civ 963, which reads: "...The burden of showing that a clause for the payment of damages on breach is a penalty clause is on the party who seeks to escape liability under it, not on the party who seeks to enforce it." Therefore, if you have any evidence upon which you seek to rely in order to demonstrate that our charges are indeed penalties, please forward this to me at the above address. On receipt of this I will be happy to discuss the matter further.

Doo, I recieved this offer today and the balnce on my card has been cleared. They have advised i will recieve a cheque for the outstanding ammount within 14days. I have not yet recieved a AQ

Sorry for starting this thread late, I've just recieved a settlement letter from Capitol one after issusing a N1 to the courts for charges + CCI and they have advised me of the following. " All default fees charged to any account are always charged at the purchase interest rate. Whilst you are entitled to claim back interest on the fees we have charged you at the same rate as what is on your card, your calculation do not take in to account any payments you made to the account. Basicly they are offering to pay the Purchase Interest from when the account was opened which means everthing that i have purchased has been interest free. However the CCI is far greater than the purchase interest rate. Shall I settle or fight on ?:-|

Can anyone advise what charges are reclaimable from Unwelcome I.E returned dd £20 Phone calls £5 Visits £25 ? Can these be all reclaimed ?

Hi Does anyone know the contact details for C L finance or have they changed name ?

Help/Advise Plz I took out a loan with welcome finance for £500 over a 12month period with an APR of 112% 4% a month variable. After about 5 months i ask for another loan of £600 and they renewed my loan giving me £1244 using £644 to pay of exisiting loan. Is this against OFT rules ? The apr on this loan was 61.3% 3.5% a month variable over 24months, but after about 3 months i ask for another loan of £600 they agreed but renewed my loan, they loaned me £1768 but used £1168 to pay off existing loan. Again is this against OFT rules ? During the last few months of the last loan i encounted some financial problems and the loan went to there local collections department who i arranged payment with to clear the loan. They wrote off £150 and now the loan is all settled. During my arrangements i encounted about £350 worth of charges due to letters and phone calls. Can i claim all these charges back and can i claim compound contractural interest on the charges ? what apr would be applicable for compound contractural ? Help/Advise Plz I took out a loan with welcome finance for £500 over a 12month period with an APR of 112% 4% a month variable:shock: . After about 5 months i ask for another loan of £600 and they renewed my loan giving me £1244 using £644 to pay of exisiting loan. Is this against OFT rules ? The apr on this loan was 61.3% 3.5% a month variable over 24months, but after about 3 months i ask for another loan of £600 they agreed but renewed my loan, they loaned me £1768 but used £1168 to pay off existing loan. Again is this against OFT rules ? During the last few months of the last loan i encounted some financial problems and the loan went to there local collections department who i arranged payment with to clear the loan. They wrote off £150 and now the loan is all settled. During my arrangements i encounted about £350 worth of charges due to letters and phone calls. Can i claim all these charges back and can i claim compound contractural interest on the charges ? what apr would be applicable for compound contractural ? Help/Advise Plz I took out a loan with welcome finance for £500 over a 12month period with an APR of 112% 4% a month variable. After about 5 months i ask for another loan of £600 and they renewed my loan giving me £1244 using £644 to pay of exisiting loan. Is this against OFT rules ? The apr on this loan was 61.3% 3.5% a month variable over 24months, but after about 3 months i ask for another loan of £600 they agreed but renewed my loan, they loaned me £1768 but used £1168 to pay off existing loan. Again is this against OFT rules ? During the last few months of the last loan i encounted some financial problems and the loan went to there local collections department who i arranged payment with to clear the loan. They wrote off £150 and now the loan is all settled. During my arrangements i encounted about £350 worth of charges due to letters and phone calls. Can i claim all these charges back and can i claim compound contractural interest on the charges as they applied the charges to my accounts and assumed charged interest. what apr would be applicable for compound contractural ?