lincscouple
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Everything posted by lincscouple
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wow!!! thanks for that.
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Principal being the 6730.00 or 10796.64?
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In addition to the above, I am just checking through the spreadsheets and making sure I have everything entered but something has hit me.. On the HP loan, I had down 12% APR but in fact the 12% is AIR, I used the loan analysis spreadsheet to find the APR and it came back as 0%.. The loan has had the interest front loaded so how would I work out the APR on this? Initial loan of £6730.00 and int paid £3501.64. Total loan amount £10796.64.
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Everything but, see post http://www.consumeractiongroup.co.uk/forum/showthread.php?378319-Welcome-Makenzie-Hall&p=4422826&viewfull=1#post4422826 also post 42
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How do I go about the PPI claim if we don't have any documentation regarding the cover IE policy numbers, companies etc?
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Thanks for that, my mind is made up, Im getting it assigned to me, doing the reclaim then see how they want to play. Your mean reclaim on the outstanding and not both, right?
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If I were to get her to assign all dealings over to me, would I be able to defend her in court? or would it have to be her or her solicitor? I'm more than happy to keep passing the ball over to them in the hope that it goes to court BUT only if she could be left out of it. I agree that 6K over 10 years is stupid, apart from the fact that a5K would be paid back, the loan would have outlasted the windows that it was for
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My partner is a worrier, already on anti depressants, her ex left the country leaving a trail of debt and she is linked to it all. I've got rid of the smaller ones but this is the biggest so far. I don't mind ignoring the damn letters and threats but she worries and frets. I'm also fighting HMRC over WTC overpayment demands but they have failed to act on information recieved and it's their error that has caused over 1K of debt. Local MP is helping on this though. What would be your plan of action if this were you? I am going to get her to assign all dealings over to me so she won't have it to worry about.
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Thanks, It is really to get rid of the debt, no need for mortgage.
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Hi there, I would think the advice will be to send them an 'account in dispute' letter from the templates library. Also send a 'incomplete SAR' letter. Someone will more then likely be here to help you soon enough, personally I wouldnt pay anything once it is in dispute, they also have to freeze interest I believe. Sorry I couldn't be of more help. Have a look at the various threads on here and you will soon pick up a lot of information. Wishing you all the best with this!! My partner and her ex were paying 126 per month and the interest added was 110 so 15 quid was being paid off the loan! Barmy I know.
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The other loan was taken out in his name only unbeknown to my partner, it has the same Customer Number but a separate Account Number. I can see them saying that she can't claim on that loan. although the PPI stands at 571 and the charges at 854
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Here it is
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That is an exact match to the statement we were sent, just under £15.00 per month went to paying the loan. The Annual Interest Rate on the statement reads at 21.60%, the Agreement shows 1.8% Rate of Interest variable per month and an APR of 24.3%
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Do you mean this one?
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Hi Dx, Could you have a look through these figures and give me your opinion please? Total loan amount £6173.79 Total loan repayment £125.93 * 120 = £15111.60 Total loan actually repaid £10079.54 Difference of £5032.06 Charges and PPI redress £3932.06 Given that this would show a shortfall of £1100 if I were to successfully reclaim both the charges and PPI, do you think it worth trying to see if they will accept half of the £1100 ( one half being my partners and the other half being her ex husband) Hope i have made it clear? Spreadsheets attached
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Hi and thanks for the reply. Sorry I haven't got back to you sooner but I have been ill. We have the statements and I have filled out both spreadsheets, the CI total is £1179.50 and the PPI redress is £2718.18. The balance of the loan is £6068.74 They have written again with the findings of her complaint with various bits of info; Firstly, I would like to advise you that you are unable to place the account into dispute as we do not subscribe to the banking code; therefore you are required to maintain payments regardless of any issues you feel are outstanding. Your offer of £**** was duly approved and we sent a letter confirming this, waiving your rights to make a mis-sale claim against your PPI policy. I can see from our systems, due to an administrative error you never received this letter. An operative for WFS refused the offer as it was too little and this 'letter ' is dated a year after the offer was made! I can confirm that the reduced settlement offer is still open and have enclosed the relevant paperwork for your attention. Including the PPI waiver form. Given that they will accept £2000 to settle the debt, would it be possible to ask them to just wipe the debt due to the PPI and charges amounting to nearly 4k or am I still high on pain relief?
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Given that they have his Romania address and that they wanted copies of her ID for the SAR, I don't see it possible. Wouldn't that be fraud or ID theft?
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It's my partners ex and no, he lives in Romania, no contact whatsoever, WFS have his address and contact numbers but because he is over there and she is here, she is the one they pester
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After sending a letter stating that PPI documentation had been omitted from the SAR documents, SWMBO has received a letter this morning with this paragraph. Would it be possible to point us in the right direction for a reply please? In relation to the PPI documentation, all relevant documentation containing your data held by Welcome Finance was included within the SAR. When PPI was sold, it was sold to the main account holder. As you were not the main account holder and were therefore not covered by the insurance, policy documents do not contain your data and therefore would not be issued within the SAR. Documents would have been sent directly from the insurer to the main account holder at the date of loan inception. If this is the case then surely trying to claim PPI and charges back would be impossible, on the other hand why aren't they chasing payment from the Main account holder? Any help gratefully received.
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Just a thought but on the electoral register forms that you fill in, did you ask to be omitted from the edited version? If you didn't they can trace you that way, or they may have used tracesmart website. From there they could use social media to find your workplace, its not that hard sadly.
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Just a quick question, within the SAR pack from Welscum, there wasn't anything to do with the PPI whatsoever, no letters etc also nothing relating to handing the account over to DCA. Shouldn't we have been furnished with this?
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OK, thanks for that. I will adapt to suit this afternoon. As previously mentioned, here are the 2 pages regarding the settlement offer that they initially refused to accept. Do you understand the figures and what they are referring to?
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No not linked at all, one was a HP loan for a car which was paid off and the other was a home improvement loan. Same customer numbers but different account numbers. Do I submit all of these together with covering letters?
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Could you have a quick look through these sheets and tell me if they are correct or if I need to take items out please?
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OK, having had a read through a few topics I have come up with the following, please correct me if I am wrong. Welcome loan 1, Home Improvement Loan, £5000 loan, £1098.79 PPI, £75 Acceptance Fee, Total Credit £6173.79. PPI amounts to 18.02% of monthly payment, (1098.79/6098.79 * 100) so £125.93/100 * 18.02= £22.69. PPI ONLY I think I am right in assuming that I need the 8% simple interest spreadsheet for this PPI claim only and compound interest sheet for all the charges? Assuming I am to use the simple interest sheet, I enter £22.69 on each date that a payment was actually made to welcome and not rejected, continue this through to the last payment then put the claim date into the claim to box. CHARGES ONLY. I have found a link that you posted before http://www.egalegal.com/compoundWindow.html I need to set rests -12, and tick the 360 day box. In the principal box I enter the charge amount IE £20 for conversion default fee. enter the date it was levied and then the claim date. For the rate of interest I am assuming I use Welcomes rate as stated on the paperwork ie 21.6%. Once I have the figure, transfer that to a new spreadsheet then work out the next charge and so on. I then need to make a claim for the PPI to be refunded and a seperate claim for the charges to be refunded. Which would I proceed with first? This PPI claim dates back to 2004. I have also just read something in the case notes that may be of interest if I am reading it correctly, I will photo it and upload it in a bit as am just heading out.
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