Welcome Car Finance problem HELP!! Hi, not sure if anyone can give me any advise but this is basically whats happened. A couple of years ago i got in a mess with the loan i had taken from Welcome Finance for a vehicle - i ended up missing 5 payments over a course of 2 yrs - Welcome contacted me & asked if could increase my payments until the arrears had been cleared. I was orginally paying 204.00 per month over a 48mth term - so they asked me if i could pay an extra 50.00 per month until the arrears had cleared. I agreed to this & it was a verbal agreement over the phone - they didnt send anything in writing to confirm this in anyway. After making the 20 payments of 254.00 a month i contact them again & said well i've cleared the arrears so will my payment go back down to the orginal amount - the man at the branch yes no problem. (again nothing in writing to confirm anything). I have been paying the 204.00 now for 12 mths & I had calculated based on my orginal term that I have 2 payments left to make of the orginal monthly amount of 204.00. At no point during the loan agreement have i ever rcvd a statement from them & today i received a statement & on it it shows i still have 1,500.00 left to pay. I have contatced them today to ask what on earth this was & they said if i want a detailed statements it will cost me 10.00 & when i asked for a verbal explaination they said i would have to get a statement?. The bloke at the branch said it must be extra charges/interest & i was to get my loan agreement out. So it basically sounds like over that 20mths when i was paying the extra for the arrears they had been shafting me on interest & charges without informing me of it. At no point did anyone say well because f the arrears do you realise that it will increase your loan term etc. So what i wanted to know is if when they had arranged this agreement when i had the arrears ie the extra 50.00 a month should they have written & explained that this would affect the term of the loan & that i would incur more interest/charges. Also when i contacted them last year regards going back onto my normal payment they never mention anything about still having any arrears & that surely the payments needed to stay at the higher amount. Any help/advise would be great. Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

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