Thanks T2upNorth if i alter the letter to say (see below) do you think that about covers everything ?

Please note i do not wish to alter the loan agreement in anyway so please just remove the seperate PPI arrangement and calculate any refund to which i am due .

I would say the vehicle is not fit for purpose but if i was asked to pass judgement on the matter i would be very concerned about the 2 months and 2000 miles you have driven the van , why did you not return it in the 21 day cooling off period .

I only ask so you can be prepare an answer in case you are asked later .

Why not just get a HPI check on your car ebay and which car , parkers online all offer this service quite cheap , i just done a quick search for you and came up with this HPI Check and FREE Car Data Check it claims to be free but i don't have a number to enter ?

At least you will then know if they are telling you the truth .

I would be greatful for comments and suggestions , obviously i will add the policy number etc later .

To whom it may concern at Welcome Finance .

In accordance with professional advise I would like to cancel the payment protection insurance policy attached to my loan . I understand that as I dealt solely with Welcome Finance third parties should be dealt with in a likewise manner .

To avoid unnecessary speculation or confusion I list below some valid reasons for which I might pursue cancellation , however I sincerely hope my request will meet with your approval forthwith without complication .

Please note , I would prefer any refund calculated to be deducted from the loan amount rather than returned.

Despite it being explicitly required under the rules of the Financial Services Authority (FSA) the following terms of service were not met :-

1, At no time did Welcome Finance ask about existing insurance cover .

2, At no time did Welcome Finance advise the PPI was optional .

3, Welcome Finance did not comply with disclosure rules as they did not disclose the

amount of interest that is payable on the premium .

4, Welcome Finance failed to explain or bring attention to the exclusions and

Limitations of the policy .

Please be aware that I am currently 7 months into the FSA complaints procedure regarding an unrelated matter with another company , I have refused the FSA’s first recommendation and insisted upon deeper investigation . That matter is one of an unnecessary two week inconvenience caused by an insurance companies delay in repairs . I offer this in the hope it will encourage an amiable response as I’m sure you are as loathe as myself to involve the FSA in this matter .

be aware they very rarely answer emails and like to claim they did not recieve them.

I would go with good old recorded snail mail to:-

 

Compliance Department

Mere Way

Ruddington Fields Business Park

Nottingham

NG11 6NZ

I have the same address here in my Welcome policy schedule booklet .

Ok please see below the only 3 letters i have from Welcome Finance that relate to me personally , the first is the offer i accepted , the second a copy of the agreement i recieved after i had agreed , and the third this years only statement which causes me alarm .

http://i999.photobucket.com/albums/af119/minus-millions/TheOffer.jpg

http://i999.photobucket.com/albums/af119/minus-millions/Agreement.jpg

http://i999.photobucket.com/albums/af119/minus-millions/AnnualStatement.jpg

Hi i have been asked to post my financial agreement (minus personal details) onto the forum , i have scanned the letters into my com but have no idea how to add them to a post .

Could anyone give instructions please ?

I learned only recently from the TV that finance agreements over 6 years old are automatically void , but it is common for finance companies to seek a minimal payment thus reactivating the loan and making the payer responsible for the entire outstanding amount . So question the dates involved .

Could you tell me how i can post letters on here that i have scanned into my computer please ?

I have scanned my letters into com but how do i post them on here ?

Of maybe 30 papers only 3 offer any personal info so i will ask my daughter if she can get then on here for you to look at , thanks .

OMG having read this post i am in no doubt i will have to pay maybe £15000 in charges and interest on a £7000 loan , i work 12 hours a night 5 nights a week for minimum wage , can't afford a spare pair of shoes and don't have time to play Sherlock and become a financial genius !

Why aren't there simple laws that can be quoted by the consumer to prevent these criminals from sidestepping the issue ?

Loan amount £7000 to be repaid over 5 years .

Initial charge for loan £3000 .

Monthly repayments £280 .

Payments to date £2800 .

Current outstanding balance £9000 .

I have just recieved my first annual statement and it seems i am paying £280 a month but £180 of that is being deducted in charges so only £100 monthly is subtracted from loan .

Surely this can't be right , i have never missed or been late paying but i am reluctant to contact Welcome as the loan is secured on my house .

I would be very grateful for any advice as to what i should do ?