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Everything posted by BEBOBEBO

  1. I just sent a letter and a standard PPI reclaim questionaire.
  2. Well after several years of fighting I have finally had some success. In 2010 I won my PPI claim but they would never pay up as there was a discrepancy as to how much should be repaid. I had letters going back and forth for 3 years. In the meantime I had done a sar and I raised a separate PPI claim with WF not through fos for my old agreements. I Dec I got offered 2.5k to resolve all my accounts current and old. Well in there calculation I found it was wrong so I wrote back. Well 3 days ago I got a letter which was an offer for 12k and a cheque for £100 for compensation in the delay. It seems this should have been given to me in 2011 but for some reason it never happened. So don't stop fighting I didn't and I finally got a result. I still have other issues being raised with them but on the PPi side I have won. Bebo
  3. Pudsey, reason Im interested in this is because I made the exact same compliant 2 years with the FOS after like yourself I was given false information. The result from the FOS was given to me last month which ruled in favour of Welcome. Basically MIF is not an insurance so no there is no underwriter. Welcome charge interest on the Total account balance as per terms and conditions. Welcome can charge MIF as case law proves (Southern Pacific v Walker appeal) . Welcomes policy is not to offer the fee's upfront. Have a good look on here and you'll find that nobody with evidence has ever had their MIF charge refunded . My advice would be to seek proper legal advice. My thread is here http://www.consumeractiongroup.co.uk/forum/showthread.php?243520-Welcome-Finance-Secured-Loan-Nightmare
  4. Hi Pudsey, What makes you think that you can claim the MIF back ??
  5. worth looking into this more, this makes good reading http://www.oft.gov.uk/shared_oft/con...OFT1175con.pdf Bebo
  6. The agreement was setup in 2005 and yes they have only ever sent us a one page photocopied agreement.
  7. Could you send me the PM again ?, dont seem to have it
  8. lol if we didnt laugh we'd cry eh lol, Separate claims with the FOS , The letter I recieved from them said the are not obliged to look at all compliants and and pick the ones they feel important. Amongst other things and I could go on and on the main point ignorned is the CCA is unsigned by welcome and the security isnt listed on the agreement. Its fine Ill just set them all up as separte complaints. Your right what you say the staff at the FOS are just normal people like us. I think whatever which way we turn the FOS, FSA and the courts are that Welcome biased we dont stand a chance, Most you get is the PPi back. Two years on and still no evidence of a Welcome CCA which has been proven unenforceble says it all mate.
  9. LOL hey up Mark and Beyond certainly is a blast from the past. Most of our compliants were grouped together so now Im gonna make separate compliants, I also think Multiple Agreement is the way forward but not saying too much until ive studed it and the caselaw. Ill be around for abit lets resurect the Team
  10. Hi to everyone, Well its been a while and a long road and alot of stress and what a waste of time it has been. Our case was finally seen by an FOS ombudsman who have scrutinised all our cases against Welcome (please have a good read from the start of this topic, It relates to the popular compliants against welcome) and the outcome basically is all in Welcomes favour , without going into detail I signed the agreement which explains everything, had use of the money end of story. My plans now are to try to get my PPi back the case I won through the FOS 1.5 years and still waiting for payment (FOS tell me they can no longer get involved as the FSA are involved who tell me to contact the FOS!). I plan also to try to claim the charges back, as anyone actually successfully claimed these back ?? Its been a long fight and I thank those who supported me throughout the years, If ive any advice to give anybody new to the welcome forum is take everybodies advice check and double check I learned this towards the end. It breaks my heart to see the the same senior people giving and getting away with giving the newbies advice that is incorrect and know nothing about and promising to help them them disapearing. This is not a dig at the CAG this is an open forum which is a credit to all involved, just have everything checked by a Legal proffesional, dont let these people give you false hope. Im not the sort just because ive lost ill stop coming on , im gonna be about for the next few week and ill have a look at some posts if I can give advice which is correct I will if I cant I wont. Bebo x
  11. You go Emanevs, still fighting here, too. They have done a big u turn on me and finally admitted the figures i presented to them re PPI were right and they were wrong.
  12. If it isnt they are in serious trouble. http://www.wfs.co.uk/ http://www.bbc.co.uk/news/business-12624895
  13. I was never under the illusion the Cattles/Welcome were going to go Bankrupt and disappear and here is the confirmation .......keep on fighting! http://online.hemscottir.com/ir/ctt/ir.jsp?page=news-item&item=583915836300132
  14. there is alot of hear say but in the past 1.5 years on here ive never seen an unenforceble Welscum agreement due to mis-stated figures, unfortunately they dont often they get them wrong.
  15. Ninjainthenight you are correct as regards AIR! I had the same issue I thought my Total amount of credit was incorrect due to certain members on this forum not knowing how welcome work there agreements out. Welcome and the fos informed me this is how they do it. They charge interest to Interest bearing Loan agreements based on a monthly flat rate which is calculated on the outstanding balance. (AIR)This is the monthly Interest rate x12 which gives you the annual flat which is proberly stated on your agreement somewhere. The APR is a compounded rate that includes the charge for credit (Acceptance Fee, MIF) as interest. (You need a very complex calculator the work out if APR is correct) There is a sticky thread on top of the Welcome forum which is often over looked which explains this in greater detail, its long but worth reading. http://www.consumeractiongroup.co.uk/forum/showthread.php?257023-How-on-earth-do-Welcome-calculate-their-interest You can also read my thread here, interesting reading http://www.consumeractiongroup.co.uk/forum/showthread.php?243520-Welcome-Finance-Secured-Loan-Nightmare
  16. ahhhhh I see have Uk Search not bought the Debt from Welcome ? if not your right Tut tut Welcome
  17. Incasso as you know from previous posts on here have been involved with Welcome since October 2010 and as Incasso are LEGAL Recovery firm (Solicitors) they certainly can take action. http://www.consumeractiongroup.co.uk/forum/showthread.php?282230-Welcome-upping-their-game-with-dca-collection http://www.consumeractiongroup.co.uk/forum/showthread.php?282184-Here-We-Go-Again!!!-****-amp-Incasso-LLP
  18. Incasso are absolutley nothing to do with UK Search LTD, The are one of the biggest recovery companies in the UK and have offices world wide. They actully was awarded with "Legal Recovery firm of the year". Dont take these people lightly they are known to take action.
  19. Hav'nt been saved yet its to go to a Shareholders vote, they have a chance of getting a penny a share back instead of nothing. So yes I can see the share holders voting in favour of restructuring to recoup some money back. Ether way if they did go into admin our debts would just get passed to a DCA who we proberly be even worst then welscum. wether or not they go into Admin or not it wont make a slight bit of difference.
  20. I believe that as agreement 3 is in force you cant do anything regarding number 2. I cant find anything wrong with the figures in agreement number 3 as they add up., Sorry I know this is not the answer you wanted. Bebo x
  21. Ok my findings are: First loan - Loan amount 12446.44 plus acceptance fee of 235 means total loan 12681.44 Monthly interest rate is 18.72. This is because interest is compounded daily using the interest rate of 20.41, it means daily interest is 1.56 x 12 means 18.72% 12681.44 on 121 months @ 18.72% is 233.75 per month and interest payable is 15602.02 12681.44 plus 15602.02 = 28283.46 / 121 = 233.75 I am a few pence out but that could be due to roundings. Looks right to me. second agreement i cant read the details on your agreement sorry. But amount of interest is i believe a prescribed term. What is the monthly amount, what is the rate of interest. Third agreement loan 16347.91 + 235 = 16582.91 [email protected] 18.72% interest rate means monthly payment of 275.69 and interest added of 33041.10 16582.91 + 33041.10 = 49624.01 if u divide by 180 it gives 275.69 I cant see anything wrong with this. The interest rate confuses a lot of people. Welcome calculate interest on a daily balance. Your annual rate per annum is 20.40 convert this to monthly and it become 1.56. x by 12 to give you your rate of interest. Do not use apr as that if for an overall picture. You have to convert your rate of interest per annum to give you your interest rate.
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