RNS| Discussion| CTT| CTT.L| GB0001803666 | Cattles PLC - Interactive Investor Just thought you'd like a look Who's Moscow plc??

Already sent and received - nothing to state on my last post in that either.

Yeah been keeping up with this site and the regular financial news. Cattles are losing £1m A DAY through welcome and WFS has £2.7bn in 'toxic' debt! They wanted to wind down the company, collecting what they can from the loanbook within 2 - 3 years. If it doesn't close tomorrow, then I give them 3 months. Happy Days:D:D

Do you think they may not have paperwork to state whether we had the agreement or not seven days prior to being given the cheque? We don't remember signing anything to state that.

Hi Martski - welcome to the forum. do you mean administration of Welcome?

We signed the forms on the 18th and they gave us the cheque after seven days. Knowing Welcome's storage procedures (microfiche, of which our contract looks to have been sourced from) I am not sure they can prove it. We do not remember being told of any guidelines regarding cancellation.

I'm sorry emanevs, I may sound like an idiot but I don't know how this helps my case. We signed the contract in Welcome's branch office and, as far as I can see, this doesn't help as its Distance Marketing Regulations. Please help! Lawrence

25thed. Don't know what I would have done if I had not found this site except kept paying these robbers and gone in debt everywhere else. Massive thanks post and all you others.

Had a VERY close look at the contract and it says this: On the contract itself (page 1) under Key Information, below the charges table: "You have no right to cancel this agreement under the Consumer credit Act 1974, the Timeshare Act 1992 or the Financial Services (Distance Marketing) Regulation 2004." But in the other column still on Page 1, in the 3rd box up, and on page 2 second column 3rd box up it states: "Under the Consumer Credit Act 1974, you should have been given a copy of this agreement at least seven days ago so you could consider whether you wanted to go ahead. If the creditor did not give you a copy of this agreement he can only enforce it with a court order." We signed the contract at their offices and we were given seven days to cancel. After the seven days we were given the cheque but I would have to check with the bank as to when we put the cheque in. Regardless, the contract says 7 days but doesn't the law state 14, as your last post? What do you think? Lawrence

Was for a top up for £5k

Seven days after we signed - cooling off period.

Soz can't type anymore What difference does it make when we signed? Lawrence

What do difference is when we signed? Yes we did sign at their (now defunct) office. Lawrence

That's you and post agreed with the misstated apr!! Awesome:D:D Am going to write the letter to put the agreement in dispute tomorrow and the harrassment letter is going as well. See what they have to say on those! Cheers Emanevs

Ozzy - Don't lie Emenevs - page 1 of this thread. Lawrence

No probs guys - v. funny

Emenevs - misread one of you questions. Both Welcome and we signed the agreement on 18 Feb. Hope this helps.

No probs Hope - another question on my mind.

From post on my old thread hi all ive been asked to drop in first this is a regulated agreement i need you to confirm this your monthly payments are £303.58 the interest will be £30,590.54 not £30257.46 now add acceptance fee £ 235 gives a total of £30825.54 stay with me on this so the amount of credit will be £20411.10 interest will be £ 30590.54 thats a total of £51001.64 now add acceptance fee and interest to give the total charge for credit £ 30825.54 not £30492.46 so the total payable to welcome will be £51236.64 not £51001.64 thats £235 they have added acceptance fee back into the agreement now devide £51236.64 by 168 months gives a total of £304.98 _____________________________________________________________ its a legal contract with the rights that go with it its for the protection of the borrower as well as the creditor apr is mistated they can not send out another ammended agreement without the agreement of the debtor the interest on acceptance fee is wilson v fct only applies if the acceptance fee has been included in the amount of credit the agreement is unenforceable the apr stated is incorect being a prescribed term the biz on the calculations is no more than creative accounting to extend the loan when the borrower thinks has been compleated seen it to often makes a change for no mortage indemnity fee on a secured loan below 25 k thats another con (creative accounting) Agreement was signed on 18 Feb 08 Regards

Emanevs - is there a letter I casn use to put this in dispute? Lawrence

Hi Dolly Been reading your thread as I am in the same position. The acceptance fee on my contract has been calculated into the loan and the apr is consequently incorrect. Also I live in Scotland. This is what I was advised to do. You already have the 'contract' they sent - I sent a £10 crossed Postal Order to Welcome for the Subject Access Request - a full, up to date statement of the payment and charges on the account. I put these on a thread and also got hold of a telephone harrassment letter (if you are getting calls from them), which I will post tomorrow. I also intend to put the account in dispute. Post doesn't seem to be around atm (hopefully just taking a well deserved break) but OzzyWizzard is another among others that can help practically. For moral support there are plenty on here that do that. I've hoped I've helped in some small way. Regards.

Cheers Emanevs I'll post it tomorrow. Lawrence

Thanks Ozzy So you're saying that non-inclusion of the acceptance fee - the shortfall makes this incorrect. Does that mean it's also unenforceable? If so, how do I go about putting this in dispute? Just tell them or is there a letter I can send considering that they only understand legal documents. Finally, I've noticed that others on here have sent letters demanding that their contact numbers be taken off Welcome's records. Is there a letter on here for that? Lawrence

Sorry, here is the contract below. Thanks again Lawrence Contract.pdf

BTW the agreement they sent me is the exact copy of the agreement I requested they send me in the summer of 2009 - on my other thread a week or so back. Don't know if this helps. Any advice would be greatly appreciated. Thanks again Lawrence