Mate I'd very much appreciate if you could also forward these details onto me. Unfortunately with my case, the financial ombudsman have ruled in favour of the Funding Corporation, basically due to lack of evidence to support my claim............ The only reason I cant provide the evidence (several call recordings) is because TFC ignored my written requests for transcripts of these calls for the best part of a year and then finally when they did write, it was to let me know the recordings were conveniently unavailable!!!Ive contested the decision with the FOS but I dont hold out much hope.

Yes that was for PPI on a secured loan.I waited probably the best part of 6 months from memory but there was a lot of issues along the way, with them trying eveything possible to avoid paying it!

Mr Edinburgh7 Vs Welcome Finance and WON just over £3k!!!! They made me work for it though, with over a dozen phonecalls chasing there compliance department, each one between 30 mins - 1hr long!!

Thanks for your input all. Yeah thats my biggest problem - what acually happened and what I can prove are 2 completely different things. The collection agents and First Response are not stupid and any threats, false/misleading information etc were all done over the phone and not in writing.I think I will take there offer and just put it down to bad experience. We live and learn eh.

In all honesty mate, they didnt even question it. I told them if I didnt sell then Id go bankrupt, the house would be reposessed and they would get nothing. As it is I wold the house and paid them about £22k with the £5k being left over. No unsecured loan was drawn up, it just sort of worked out that way. There were no additional charges and the interest on the remaining balance was frozen.

Excellent, thanks mate. Much appreciated

Hi mateback in 2006 I was in exactly the same situation. Mortgage with Northern Rock, 2nd charge also with Northern Rock, 3rd charge with Welcome Finance. I was in financial dicciculty and sold my property too. I paid the mortgage, first charge and most of the second charge but was left with around a £5k balance with Welcome Finance.They had no choice but to accept this and in the end the remaining balance was paid as an unsecured loan for a period of time. Its worth noting however that after paying it back for a couple of years, I managed to get £3k of this written off, because I claimed the PPI from the loan against Welcome and won. Have a look and see if your eligible.Best of luck

apologies for the mass of text. For some reason it wont let me break it down into paragraphs!

Morning all. Ive received an 'offer' from First Response Finance last week following a complaint I had made and Im unsure whether to take it and be done with the whole thing, or fight on! The problem is this: I had a motorbike on finance a few years back and due to financial difficulties I fell behind with payments (default notice was received). I subsequently addressed my financial difficulties and thereafter offered to pay the full arrears and continue with my contractual monthly payments. This was refused by First Response and I was told it was too late and that I had to voluntary surrender the vehicle. The collections agent called me on my mobile while at work and left a voicemail - basically (in a very threatening and aggressive Glaswegian accent) "Right Im getting sick of you - you get back to me today or Im coming to your work to get the Bike". As I work for a Bank, that action would result in instant dismissal. I called him back and he told me I had to drive from Edinburgh to Glasgow, drop the bike off and then make my own way home (50 miles each way). The 'office' i delivered it to was a 2 storey portacabin in a run down backstreet of Glasgow and had a trademark vicious dog tied up outside!! Its worth noting that they even charged a few hundred pounds to my account for collecting the bike, which made me laugh! Since then I have been in touch with Trading Standards who wrote to First Response Several times with no reply. Ive also written to them twice with no response. Trading Standards have now complained to the OFT and I called First Response to chase them up. Today I have received a letter from First Response claiming they have never received any documentation from either me or Trading Standards and apologised. They have said they do not use that collection agent anymore and therefore cant comment, however they have not received any other complaints of that nature.In regards to the collection of the vehicle, I quoted section 90 of CCA 1974 " REPOSSESSION – YOUR RIGHTS. If you do not keep your side of the agreement but you have paid at least one third of the total amount payable under this agreement, that is £xxxxxx we may not take back the goods against your wishes unless we get a court order. (In Scotland we may need to get a court order at any time). If we do take the goods without your consent or a court order, you have the right to get back any money you have paid under this agreement.In the letter they have sent me, they state "I note your comments regarding the re-possession of the vehicle without a court order. The finance was granted under a Hire Purchase agreement drawn up in accordance with the requirements of the consumer credit act 1974 and as pointed out under the terms of agreement 13:3 English law applied".They then went on to state that they do not accept the complaint that they illegally took possession of the vehicle, but to bring the matter to a conclusion and as a gesture of good will, they will write off any remaining liability under the finance agreement and close the file (this is aprox £900). So my question is this: Do I accept this offer and have them write off the £900 or do I fight under section 90 of the CCA which states "If we do take the goods without your consent or a court order, you have the right to get back any money you have paid under this agreement." The part that doesn’t sit well with me is that section 90 states in regards to repossession "In Scotland we may need to get a court order at any time" where the letter they have sent me states under this finance agreement "English Law applies". I live in Edinburgh and signed the finance agreement in Glasgow, so don’t understand this.Any advice would be greatly appreciated.

I sympathise my friend.......... I currently have a complaint logged with the FOS regarding the Funding Corporation. They basically lied and manipulated me, by providing grossly inaccurate information that resulted in them both securing my vehicle to sell at auction and now demanding a further £3000!!! All this even though I had paid half of the full amount owed on the credit agreement, was only a couple of hundred pounds in arrears and offered to either voluntary terminate or pay them back the arrears in full/continue with full contractual monthly payments. I was told "sorry - you cannot do this and HAVE TO voluntary surrender the vehicle". Key words VOLUNTARY / HAVE TO!!! I just wish I knew about this site before I gave in to there demands. I wish you the very best of luck!!

Hi all Please bare with me for the long post and take the time to read it through........ i originaly posted on this forum in summer of last year, in regards to problems I had with the Funding Corporation. I got some good advice but Ive now hit a brick wall and Im now not sure what to do. Basically I had a car on hire purchase in 2008/2009. Id paid almost half of the agreement by mid-end 2009 and wanted to voluntary terminate. This was accepted but then as the vehicle needed £1500 of repairs, I was told I couldnt go through with it as there would be no valid MOT. I then went into arrears by a few hundred pounds and the fundign corporation cancelled the voluntary termination. A few weeks later however, with the car MOT'd and ready i contacted the Funding Corporation to arrange the voluntary termination or to request I clear the arrears in full, keep the car and continue with full contractual monthly payments. I was told that "neither is an option and its a bit late for that now". Long and short of it, is I was pushed into a voluntary surrender after being told this was THE ONLY option I had (which obviously take voluntary out of the equation). I wanted to keep and pay off the arrears or VT and they said no. I could only voluntarily surrender the car or have it repossessed. My nievity then cost me that car. I have since sent a SAR to the funding corporation in July 2010 and I have written to them aound 8 times since to try and get transcripts of the calls as evidence, that I was given incorrect/inaccurate information, was misled into surrendering the vehicle and important information was held back from me (informed consent). They have told me everything from "write in with the dates and we will send you the transcripts, to we need exact dates and times of each call, to we need to know the exact number you called from and the date and time, to we dont have them". Now the Funding Copropration know that the only evidence I had that can implicate them was over the telephone and conveniently there are no call recordings available. So.............. even though they have shafted me, is it worth me writing to the FOS to pursue this further? Ive paid, £3500, plus £1500 to have the car repaired and MOT'd only foer them to sell if for £900 when they took it back and they still want £3000 from me. Nearly £8k for a car I dont even have anymore!!!!!!!!! Help!!!!

For anyone who doesnt want to read my long and drawn out last post.......... The hire purchase agreement I have signed and paid for displays the incorrect vehicle details. Does this make the contract null and void and am I therefore entitled to any form of refund?

Hi all Just looking for some accurate advice here. Basically in 2007 I purchased a motocycle through First Response Finance. Following some financial issues, I voluntary surrendered the vehicle a year later and have now just about paid the full outstanding balance with them. I recently sent my £11 and requested a copy of the credit agreement and a subject access request which I have in front of me. Upon looking at it however there are a couple of major issues. 1. The "application form" has all the correct details including the correct vehicle. (the copy they have sent me is unsigned 2. The "hire purchase agreement" in the "description of the vehicle" section, describes a completely different make, model and registration of the vehicle. (the copy they have sent me is unsigned) 3. The "signing of contracts" form is titled to the wrong motorcycle dealer and quotes an entirely different vehicle registration from the one i purchased (not just a typo - a completely different vehicle). This document is 4 pages long and leads on to the hire purchase agreement that has been signed by me. On page 4 where it states "dealers offer and warranty" it does however quote the correct vehicle details but this part is also unsigned. What is seems like to me, is that i have been looking at purchasing 2 different vehicles at the time and thats why I have two HP agreements. The first copy they have sent me is unsigned but the second signed copy is my main focus. As explained it is title SIGINING OF CONTRACTS FOR: (insert incorrect vehicle registration) then leads onto the HP agreement and Ive signed this. Granted the last page in the dealers offer and warranty does quote the correct details but this area has no field for a signature and is therefore not the vehicle I have signed for. So my take on this is that I have signed and paid for a vehicle I have never owned. Whith this in mind what are my rights? Am I entitled to any form of refund? Any help would be greatly appreciated.

Afternoon all A quick update. The Funding Corporation have now sent me a copy of my original credit agreement, but not the subject request (thats 40 days just past). They claim to have sent a letter requesting proof of ID (which Ive never recieved). Ive now sent this to them Recorded Delivery and have apparnently to wait another 40 days for the SAR!!! Today however I had a call from LRC (Legal Recoveries and Collections) saying they were acting on behalf of the Funding Corp and were looking for a payment plan. I explained the current situation and my dispute and unbeknown to me at the end of the phonecall, the chap at LRC has emailed this information to The Funding Corp. I was more than a little surprised that litterally 5 minutes later, the chap was back on the phone with a response from the Funding Corp. They said blatantly that I didnt comply with the agreement and took too long in arranging the voluntary termination. They also said I willingly signed the voluntary surrender form, so legally I dont have a leg to stand on. I explained to the chap from LRC the full situation (That the delay in going for the voluntary termination was because I had to fund £1500 of repairs in which to get the MOT done on the car. I also explained that whilst I did sign the voluntary surrrened, I did so because: a: I was told by the funding corp that "i was too late" to voluntary terminate and that they would no longer deal with me (passed to a recovery company). b: That if I didnt voluntary surrended the car they would come to my work and re-posses it (i work for a bank so this would result in instant diamissal). The problem is in the T&C's they cant reposses without a court order. Basically they have twisted, manipulated and used scare tactics to get the vehicle back and leave me with a hefty bill. The problem is whatever way you cut it, I did signt the voluntary surrender. I have asked them for a transcript of all telephone calls - is that enough and if not what should I do now?

I'm looking for someone……………… anyone in the know to give me a bit of advice please. Its in regards to a secured loan on my former property that I had with Welcome Finance, and I feel there are some discrepancies with after reviewing my subject access request. 1: I had a mortgage since 2002 with Northern Rock (part mortgage part secured loan). Balance as of 01/02/05 £95,100.02 2. 21/04/05 Secured loan with Welcome Finance accepted (which was obviously the second secure loan next to Northern Rock) of £20,000 3. At that time, the property was 'valued at around £115k' giving me enough equity in the property to cover the loan should I fail to repay it. Now my first 'issue' is that Welcome Finance charged me a £2200 Mortgage Indemnity fee on top of the £20,000 I borrowed. My question is, as this was both the second secured loan on the property and as I had enough equity in the property should I fail to repay the loan, is this a valid charge and if not, am I entitled to have it refunded? I see the point in a MIF but as I had the value there in the property it seems like an unnecessary charge. My second 'issue' is following the sale of the property in 2006 when I attempted to repay the loan. 1: Mortgage Balance aprox £98,500. Sales Fees etc £2500. Balance left £19,007.97 2. A settlement figure requested from Welcome Finance via the telephone and the operator took these notes……………….. "Call in from I T, P* I T advised that settlement is so high as this is a rule of 78 agreement, which means that settlement figure is calculated on months remaining and not current balance, asked if therefore get balance payment from cust then email I T to close zero balance account, male advised that that wont be what happens as cust has to pay settlement fig to clear account as is written into contract. Male also advised that once balance paid then have to keep taking payments from cust and deposit into suspense till enough funds to settle account. S* need to advise cust to either maintain toke payments or pay balancing take chances with us being able to settle account, if cust pays 2K then £10 per month for term." ………… so instead of giving me a settlement figure, they took a payment of £19,007.97 and paid it towards my account (with no rebate at all) leaving me with a balance owed of £4492.20. 3: As of today I have paid just shy of £8000 in instalments and a lump sum of £19,000 (£27,000 total) for a £20,000 loan (not including the suspect MIF charge) and they still claim I owe just over £3000. 4. Although I no longer own the property (and therefore the remaining balance is not secured on anything) I still have not signed any new agreements or had any paperwork to reflect the changes. Any help would be greatly appreciated, as if the MIF charge is invalid and therefore refundable, then my account with Welcome would be almost completely clear!!!! I deploy to Afghanistan soon with the Army and am keen to address all of these issues before I leave. Cheers

Guys, anyone, please??? I am being called on my mobile 2-3 times a day every day, evening and weekend by there collections department. I have spoken to a dozen people, 2 managers and have told/threatened them not to phone again but it keeps happening. Even the person I spoke with yesterday admitted something was seriously wrong with my account and that there were many discrepancies. I just cannot cope with this any longer!!! Ive recently lost my job (have secured a new one now) my mother is ill with cancer, im trying to look after my younger brother who is disabled and Im suppsed to be deploying to Afghanistan in the coming months (Reserve Forces). I can handle all of that, but this constant bombardment with phonecalls if tipping me over the edge, especially when I genuinely believe they have stung me with this loan. Absolutely any advice on whether I have a case against them (not for the phonecalls but for the loan being invalid/incorrect) would be so much appreciated.

Just been reviewing my subject access request from welcome finance and within that there is a note from an account manager. It was documented on 15/9/09 under the title ACCOUNT REVIEW and something just isnt right with this. It reads: "Call in from I T, P* I T advised that settlement is so high as this is a rule of 78 agreement, which means that settlement figure is calculated on months remaining and not current balance, asked if therefore get balance payment from cust then email I T to close zero balance account, male advised that that wont be what happensas cust has to pay settlement fig to clear account as is written into contract. Male also advised that once balance paid then have to keep taking payments from cust and deposit into suspense till enough funds to settle account. S* need to advise cust to either maintain toke payments or pay bvalanceand take chances with us being able to settle account, if cust pays 2K then £10 per month for term." Some details: 1: The original secured loan was for £20k (and they charged me a mortgage indemnity fee of £2200, even though this was a second secured loan on the property) 2. When I sold the property I had already paid £7869.71 in installments. 3. I sold the property and asked for a settlement figure, but intead they just took a payment from me of £ 19,007.97 (total paid £26,877.68) and put it towards the account balance, leaving me owing according to them £4492.20. 4. Now the property was sold and the loan obviously not secured on it anymore, but I did not receive a new contract or any documentation to say the loan was now unsecured. Can someone in the know please let me know what they think about this. Much appreciated Paul

Sorry I wasnt very clear there, what I meant was that if I already have a mortgage with Nornther Rock, plus a secured loan with Northern Rock on top of that and then a second secured loan with Welcome Finance, should they have charged me a mortgage indemnity fee? Also I have now recieved a second recorded delivery letter from Welcome today that contains a mass of information from my SAR, so will wade through it and see what I can find.

Morning gents I have now recived my SAR from Welcome Finance in record time, but all they have sent me is a copy of the original credit agreement and a full statement of account from day one to account closure. There are no other details included. One thing I have noted is that on the credit agreement it does state "this loan is made on the security of a 2nd legal charge" First motgagee is Northern Rock. Does this affect or influence the mortgage indemnity fee I had to pay?

Morning Gents Okay so Ive had my SAR back from The Funding Corporation (and from Welcome in my other thread) both in record time!!! The thing is, all they have sent me is a full statement from day one to account closure and a copy of my original credit agreement. Should I be expecting more, as I cant see how this would prove that they mislead me in regards to surrenering the vehicle? Thanks Paul

I cant access photbucket from my works PC, so I hope this works!!

Roger that. I can honestly say that now I am armed with 'people in the know' on my side, I wont back down an inch. Cheers

Again I will need to check, but my recollection is that the equity available on the property took me right up to the full value of the house when I got the second loan. So yes, there was equity there hence when I sold it not long after was able to repay the full mortgage and £19k to welcome (but they still left me with £4.5k balance) I have a full statement from welcome - I will see if I can figure out how to post it up

I will get this asap mate. If they have the calls recorded it should be interesting, as I recall being particularly stressed/depressed and almost pleading with them on the phone. It was absolutely made out to me that I had no choice so thats a good start. Im not lucky though, so wont get my hopes up just incase. Thanks again

Id need to check mate, but I think (if I remember correctly) it would have been 125% motgage?? Does that make sense? Northern Rock gave us the momey in the form of a mortgage and a secured loan to purchase the property and have a little left over for upgrades. Later in the mortgage term I got a second secured loan through welcome.