havent seen post for a while..... you dont think he has been bundled into the back of a black van and taken to nottingham for interigation do you....

So welcome or direct group dont do a "needs and demands" and NU are more than happy for for them to spend there money without seeing a policy or proof that it has been sold correctly...... what a crock of shxt. Nu cannot just give money out willynilly, they must at least have an in-house account or reference to charge the money too because as it stands at the moment they can just say no to every claim as the customers situation does not meet there paying out procedure, the reality is that you dont have a policy, just a crappy booklet full of worthless terms and conditionsit just does not make sense and its driving me nuts. Has anybody on this thread ever been paid out or know of anybody that has been paid out on a policy??!!

the max loan period is definately 15 years... would they use a different source of money for this 300 month loan...

i thought welcome loan period was a max of 15 years. !!

caution is definately the word.... When we rang our local branch to make a payment we asked for a specific person who we spoke to the night before... they just said that the person in question was on his lunch and he would call us back, it was by this number that he called, sneaky baxxxrds

i heard that robinson way were in a bit of trouble with there finances, dont know how true it is... I think now that people are starting to understand there rights these vermin will struggle and quite rightly so.

I was just so surprised after talking to this girl just how little she knew and she has been there a few years....... when i first asked her what she was doing with herself her reply was " nothing, absolutely nothing" so she may have been trying to hide the fact that she suspects her job is in doubt as i think she is looking for a job back at where i work and she may have not wanted to come across as desperate... the reason i suspect that is that our loan is through the office that she works and for some reason we are being dealt with by a different office. just on a different subject is this number a number for a specific welcome office or is it a national number 08454564877. The reason i ask is that a few posts back we aere discussing the possabilities of a specialist team doing the collecting for them is this is the number our call came from..

you have to remember the level of intelligence these cabbages have..... there is every chance that they cannot read...

just had the briefest of chats with a girl that works for welcome.... they have not got a clue what is going on..... i asked if she was still working for them and she said yes but its very hard work. I asked her how bad is it at welcome and is your job safe.... her reply was... yes everything is fine now. Her interpretation of what has happened is that wlelcome have a 3 year loan to pay back but have struggled to collect money in to pay it so the directors lied about the accounts but everything is fine now. She thinks its just a couple of million that is owed and that everything is hunkydorey. I explianed to her exactly what has happened and she didnt belive me.. obviously they are so dim at welcome that they belive everything they are told.

Its just that its the weekend, this thread can be quite intense at times as there has been alot to take in so people are just resting there heads.

The red section is quite interesting

Statements to be provided in relation to fixed-sum credit agreements After section 77 of the 1974 Act insert— “77A Statements to be provided in relation to fixed-sum credit agreements (1) The creditor under a regulated agreement for fixed-sum credit— (a) shall, within the period of one year beginning with the day after the day on which the agreement is made, give the debtor a statement under this section; and (b) after the giving of that statement, shall give the debtor further statements under this section at intervals of not more than one year. (2) Regulations may make provision about the form and content of statements under this section. (3) The debtor shall have no liability to pay any sum in connection with the preparation or the giving to him of a statement under this section. (4) The creditor is not required to give the debtor any statement under this section once the following conditions are satisfied— (a) that there is no sum payable under the agreement by the debtor; and (b) that there is no sum which will or may become so payable. (5) Subsection (6) applies if at a time before the conditions mentioned in subsection (4) are satisfied the creditor fails to give the debtor— (a) a statement under this section within the period mentioned in subsection (1)(a); or (b) such a statement within the period of one year beginning with the day after the day on which such a statement was last given to him. (6) Where this subsection applies in relation to a failure to give a statement under this section to the debtor— (a) the creditor shall not be entitled to enforce the agreement during the period of non-compliance; (b) the debtor shall have no liability to pay any sum of interest to the extent calculated by reference to the period of non-compliance or to any part of it; and © the debtor shall have no liability to pay any default sum which (apart from this paragraph)— (i) would have become payable during the period of non-compliance; or (ii) would have become payable after the end of that period in connection with a breach of the agreement which occurs during that period (whether or not the breach continues after the end of that period). (7) In this section ‘the period of non-compliance’ means, in relation to a failure to give a statement under this section to the debtor, the period which— (a) begins immediately after the end of the period mentioned in paragraph (a) or (as the case may be) paragraph (b) of subsection (5); and (b) ends at the end of the day on which the statement is given to the debtor or on which the conditions mentioned in subsection (4) are satisfied, whichever is earlier.

Just going through the OFT website and came across this referemce post contract statements, it may help http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft1002.pdf

Just taken this from the cca 1974. i have just printed off the whole 105 pages and am going to spend the whole day looking at it but there sections that just stand out. The reason i have cut and pasted this one is because when my pre contract agreement was sent to me it was not fully completed. It did not have the settlement values in it states in this section that this should be included, otherwise how can you make an informed decision. 58.—(1) Before sending to the debtor or hirer, for his signature, an unexecuted agreement in a case where the prospective regulated agreement is to be secured on land (the " mortgaged land"), the creditor or owner shall give the debtor or hirer a copy of the unexecuted agreement which contains a notice in the prescribed form indicating the right of the debtor or hirer to withdraw from the prospective agreement, and how and when the right is exercisable, together with a copy of any other document referred to in the unexecuted agreement

A tv campaign would be great. It would be nice to make people aware of how corrupt these companies are as all the articles i read about sub-prime lending is about how bad the customer is and its the customers inabillity to pay that has brought about these problems for banks and finance companies. It would be nice to see an article exposing these companies for there extortionate trates of interest that is just a figure plucked from the air with no real substance or method behind there appraisal of customers. Also how peole are completely duped int insurance that is not only worthless but not required by most people that have it. Obvously this would raise awareness and bring more people on board with similar issues........

If they lend money and sell insurance then they are definately regulated

just found some more x welcome employee ststements, you never know there may be something in them to help us. I worked for Welcome Finance for about 4 years and i can tell you that they have no regard for their customers. We shamefully treated our customers with disregard and as for the charges (if you review your breakdown you will note they have charged you for any letters/telephone calls they have made) Also they would have continued to charge you interest throughout the period you were not able to make payments. How Welcome work is each Customer Account Manager is a list of clients to look after and their bonuses are assessed depending on what percentage of their customers do not pay. You are allowed a certain ammount however if you go above this you lose bonus as does your branch/area manager etc so the pressures on. Anyway in terms of you payment - tell them that you are disgusted with their behaviour and are contacting trading standards (this normally would put the s**tters in our office if a customer threatened this) Also tell them their charges are excessive and illegal (recent legislation regarding bank charges should apply to loans too i think) Remain strong and tell them that you will offer them part payment full and final as settlement if not tell them you will get a Debt Management Company to deal with your fianances and pay £2.00 a month to pay it off! This should make them come to their senses. In my 5 yrs working for them we never ONCE took anyone to court for non-payment purely because of the disgusting interests rates we charged the company didnt want bad publicity. I will check up on here in a few days time to see how you got along and if i can help in any other way.

MoneySavingExpert News - Bank charges case latest: banks given leave to appeal cant belive the banks wont just roll over and pay us what they owe us. They will have to pay it back at some stage.

Further to your recent contact, I can confirm that further to your recent enquiries about policy information details of your query have been passed to the person within Welcome who is responsible for insurances. If this is not resolved for you within the next week, I will contact him further to get an update as to the status of your query. Yours sincerely Sally Evans Head of Customer Services Direct Group Limited im sick of this being passed from pillar to post now. I have sent an SAR to these clowns and NU, realistically what can i expect back.

the shorter the long goodbye - the better

That will be some default on the credit file for them directors, they may struggle to get a loan in future........ suppose there is always welcome.....oh no silly me.....

thats funny LOL

LONDON, April 1 (Reuters) - Troubled sub-prime lender Cattles Plc (CTT.L) faces a bill for 850 million pounds ($1.2 billion) -- or more than seven times its 2007 net profit -- to plug holes in its accounts.

lifted from reuters The company, which has already suspended six senior executives including its finance director, said a draft report showed it would have to find 700 million pounds to make up for the fact it did not set aside enough funds to cover bad loans. A provision of 150 million pounds may also have to be made if Cattles decides to adopt accounting standard IAS39 which governs the way companies measure financial assets and liabilities. "The board continues to believe that such a provision will result in the group reporting a significant loss before tax for the year ended 31 December, 2008," the company said in a statement. A restatement of 2007 accounts could result in a significant reduction in pretax profit for that year while the financial impact in previous years was still being considered, Cattles said. The company made a net profit of 114.7 million pounds in 2007 and its market value is now less than 20 million pounds after its shares slid from more than 400 pence a share in early 2007 to less than 4 pence. "The board is not yet in a position to provide a definitive explanation for the breakdown in internal controls which resulted in the group's impairment policies being applied incorrectly," the company said. Shares in Cattles were down 8.4 percent at 3.15 pence by 0707 GMT. Cattles said it remained in talks with its banks and bondholders to find a way to stabilise the company's financial position. The company has appointed Jamie Smith as interim finance director and said it had generated net cash in the first three months of 2009 after "good progress" with collections. The last part of the report should read "The company has generated net cash in the first three months of 2009 after a bullying and intimaidation campaign to scrare people into paying". I still think they are on borrowed time... i just cant see how they can get out of it.... they have more than just debt hanging around there necks.

I think they are gonners, damage limitation and as much debt collecting done as quickly as possible and that will be done from a few smelly little offices by morons. The banks will bleed them dry until they get there money as they are up to there necks in it also.