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Found 43 results

  1. I would be grateful for any advice or if anyone can point me in the right direction. I have a loan with Welcome finance, secured. Lost my family busines of 20 years in 2009 and things have been a real struggle ever since and im certainly not out the woods. All creditors have been kind and helpful apart from Welcome who have bullied me and really been nasty. After a week of harrasment from them, I folded and ended up on antidpressents. Welcome told me i could not go bankrupt. (I now know different). I got a copy of my loan agreement to find its almost completely unreadable, I have been taking advice from moneysaingexpert which has been great (until last few days) - gave me all the template letters to send with regards to a loan where the CCA is illegible. I have sent these all to Welcome and they continue to send me these bad copies that you cant read the figures on. Last week they posted me a reconstituted copy of the agreement - with no signature, dates etc. Just the figures clearly. (I dont have the agreement at all so I have no idea if these amounts are correct). I went back to the site for further advice on this and it seems now that rather than people help the advisors are just saying why dont i just pay up, dont run away from your debts etc - suggesting im looking at an easy way out. Quite frankly I would love to wipe this debt these people were the final straw when i was desperately trying to cling on and which resulted in serious depression and I dont want to have to deal with them again so yes i do want to wipe the debt if i can. Im terrified of dealing with these people again. I am being told now that a court ruling says that a reconstituted copy of an agreement is acceptable, does anyone know did this court ruling happen recently? Its just everyones advice seems to have all of a sudden changed from illegible loan agreement cant be enforced to now that it can. Will a reconstituted copy stand up in court if Welcome take me to court. Also on the reconstituted copy the figures show i borrowed 15k and that the total charge for credit is 29K.. Meaning the total amount payable is 44K. This is hurrendous obvioulsy and i clearly did not check this before i signed the agreement otherwsie i would not have signed. I was young and foolish i guess. Any advice on Illegible Loan agreement, Harrassment (although it was all done by phone), and unfair interest rates - anyone can give me i would be grateful. I have scanned and attached 1. Bad copy they have posted me of the original agreement 2. Reconstitued copy received in the post recently 3. Statement of account It looks as though an acceptance fee of £235.00 and a broker fee of £1500.00 has both been included in the oiriginal loan amount. On the 'original' agreeement (although bit difficult to read properly) it shows the broker fee on the right of the agreement, on the recon copy the broker fee has gone but the total amount borrowed is not £15000 but £16500. On the last page of the statement of account (which is the beginning of the agreeement back in 2007) it shows; first entry (14.2.07) - Loan Disbursement of £16735.00 (DEBIT) second entry (14.2.07) - Fee Disbursement of £235.00 (CREDIT) but then the total amount does not adjust accordingly with the credit. If you look at the statements that i have scanned and attached i hope you can see what i mean! I have tried to google how to work out interest but i cannot work out if they have charged me interest on the acceptance fee or the broker fee - if anyone can help here i would be really grateful - i do not know what im doing here - its complicated and the information on the agreements differs which i do not know is allowed either. Also on the recon copy it does not mention that the loan is secured on the property. Where it says 'secured on:______' - this section although completed with address on the 'original' is empty on the recon. How can you trust a recon copy when the company is so untrustworthy. Thank you for anyone that can help me! this was Pre 2007, no i have not checked the calculations as I do not know how, I can npost the agreement no problem i have a scanner, how do i post? No it did not include PPI at least its not showing on the reconstituted copy anyway.. - the loan did not include PPI and the loan was taken out Feb 2007. Figures are Amount of loan £15,000 Duration of agreement (minimum) 180 months Monthly payment £235.00 Variable APR 19.50% Total charge for credit £31,232.53 Interest charge £30,997.53 Rate of interest per annum : 19.10% I have taken this info from the reconstituted copy that they have provided but this info seems to be different to that on the illegible agreement. For starters on the illegible agreement there is a broker fee of £1500.00 - this is not shown on the recon copy. Also the APR's are different and the total charge for credit is different. my signature is on there I will scan and upload the doc, do i just blot out my details from prying eyes? - the agreement (the bad copy) is in the 1st post - thank you again for your help surrey36 all welcome docs .pdf
  2. Hello All I have a Welcome Finance CCA which for one reason or another has been bought by MKRR. I CCA'd them last September, and they have sent me a copy of the front page of the agreement with no T&Cs, but the thing that is puzzling me is the figures stated on the agreement. They are as follows: Total amount of credit = 2945.43 Payment over 65 months APR = 20.80% AIR = 19.6% Total charge for credit = 1805.93 Monthly Payment = 73.07 Made up of Acceptance fee = 75.00 Interest Charge = 1728.93 All well and good, and I am no accountant, but I have work this out on several online loan calculators and got the same amount on each of them, which is different to that on the CCA. They are: Total amount of credit = 2945.43 Payment over 65 months AIR = 19.6% Monthly Payment 73.88 Total Repayable = 4802.43 There is also no total repayable on the credit agreement. My question is, is this CCA enforceable? I was under the impression that the figures given should be correct. Please help Total charge for cretid = 1857.00
  3. I have a historic debt with Welcome Finance which, after a prolonged period of time, has gotten back in touch with me. Having read a few posts on this site, I think there may be a few options I can look into with regard to possibly reducing the balance on this debt. There is quite a long story here, so let me explain as best I can.... 18 Aug 2001: Purchased 2nd hand car from Direct Car Finance. Finance provided by Welcome Finance. No PPI. Shortfall Insurance also taken out for full loan term. Breakdown and recovery insurances also taken out, not for full term. Loan repaid erratically. ?? May 2002: Car stolen and not recovered, motor insurance paid out for a total loss. Shortfall insurance also paid out. Both lots of money went to Welcome against loan balance. Loan continued to be repaid erratically. April 2003: I signed a new loan agreement to enable the balance to be used to pay off the car loan, which now had no security as the vehicle was stolen and I was left with an unsecured loan to pay off. I have in my possession a full list of transactions on my account from inception to this date. Jul 2005: After once again falling behind with my payments, I signed another new loan agreement. If i recall correctly this was to allow me to reduce my payments by taking the balance over a longer term. May 06: Last payment to Welcome I have a record of. Jan 2007: Moved house, lost contact with Welcome, heard nothing from them until March 2010 when a letter from Willen arrived. I have my copies of the Aug 01 and Jul 05 agreements. I also have a large number of cash receipts from payments I have made, probably most but definitely not all of them. I have the vast majority of correspondence from them. I have read reports of some people having success in defeating Welcome due to incorrect clauses in the Credit Agreements. The two agreements I have clearly state that PPI is not a part of the agreement, and I think it is extremely unlikely I have it on the 3rd agreement. It is over 6 years since my last payment to Welcome, if my final receipt is indeed the final one. My frustrations are two-fold. Firstly, despite a large total amount of money being paid to Welcome by me, and additional payments from the motor insurer and the shortfall insurance company, I still owe over £2000. Secondly, Welcome were a rude and scary company to deal with, to the extent that I had cause to place a written complaint with witnesses to them regarding a DPA breach in 2004. To be totally honest, I am sick of this having been a millstone around my neck for over a decade now and am looking for any way I can to reduce / clear the balance, perhaps with reference to the original agreements, charges applied, statute of limitations, etc. The end-game I am looking for is where this shows as fully settled and satisfied on my credit file, and I am prepared to negotiate some sort of settlement to achieve this if I have to, but would like to explore all the options. I have scanned and uploaded copies of my loan docs, but unfortunately cant attach the link due to a low post count. Thanks in advance for any help anyone can offer. I am just a bit confused as to what my options might be....
  4. I am so angry. bank holiday ruined by Welcome. My husband took a loan out with welcome in 2006, we borrowed a little more in 2008, however we paid this off about 3 or 4 months later, in full when we sold our car. We have recieved letters from IND and welcome saying they are chasing the money, following the letters i wrote to them asking why they hadnt marked an account as settled from 2008! We also wrote to them a year ago about PPI and they said he had none, there letters now say we did. They also said that there is copy agreeemnts and letters that we have apparantly sent in the mean time. none of which were included. i am not happy at all as we are trying to get a mortage through and they are claiming they are putting him in court. I cant beleieve that a company like welcome would regiser a default in 2009 and not chase until 2013. also i know this was paid off in 2008. but the credit files say default 2009. i am at a little loss, what do you do. Thank you all. x
  5. enough talking, phoning, writing, speaking to fscs, speaking to fca, speaking to fos, writing to welcome, writing again to welcome, writing to insurance... enough we get nothing back. financial refunds are made back to welcome and the calculations are far from the real accountable data. they are outside the interest of financial law. while we continue to fill there pockets. its wrong. end off. i am forced to begin a public publicity appeal and register regarding all welcome finance abuse.. they must be hundreds of thousands of people like me funding this securities scandal. that’s all we are. the government and finance industry will allow it to continue while massive profits are being made over our pathetic (sub prime) bones. it is the perfect deal - secure sub prime loans - endless cash from those dirty – unclean – untrustworthy – risks that’s the lie. we are no risk we are fully tied in the masses of public no bodies - tied in for life securities - that’s what were called - a sure thing. it is us that are making the millionaires, trillion aires. did you know that? this is not inside knowledge i found this out digging public knowledge. you’re continued poverty is acceptable as you are funding global securities investment gambling -------- we buried my father in law today the 31,000+ i have paid to date was his health insurance we could not afford. now – the wider family are in epic life changing debt over his recent illness and death. ------- im done playing games join me – regards bren.
  6. Hi, I'm about to make a claim for missold PPI on a Welcome Finance loan sold that was sold to MKDP in 2010, it is definitely statute barred ( sure of that). I wanted to know if FSCS rules are different that with normal lenders, if I put the claim in will they be able to offset the refund against the debt? As far as I'm aware, a company can't offset a PPI refund against a debt that has been sold to an external DCA (in this case MKDP). I would be grateful for any help with this. Thanks in advance.
  7. I took a £20k secured loan out about 1 and a half to 2 years ago now and been paying the extortiante rates back since. Never missed a payment till now. Ive hit financial difficulties and need some help. I believe my CCA in incorrect and am considering putting it into dispute also. I sent of the subject access request and the CCA request along with 2 seperate postal orders. One for £10 and one for £1. I received a letter today saying thanks for the requests but please send a cheque for for £1 and the £10 !! My postal orders were no where to be seen or even mentioned in the letter !! Totally Stolen by Welcome !! Whats the best route now? I really dont want to send cheques as ive heard they can uplift signatures. I sent them recorded delivery and never signed the letters as I was told just typed my name. Help !
  8. Please can anyone offer me some advice, I owe 12K to welcome and I am paying them back at a reduced rate, however everytime I get a phonecall off them they ask for date of birth, so I give it to them and some will say that it is fine and other people will say that we have a different date of birth for you, but then go one to talk about my account. Am I right in saying that this is against DPA as if I give a different DOB to what they have on their records they should not continue with the conversation? Also how far back can you go to reclaim PPI I believe I took the loan out before 2005 so I may not be covered by normal SAR? can any one help or point me in the right direction with these questions????? Thanks in advance
  9. Hello Everyone, I am a new user and I am not sure how to use forums I have been facing Court proceedings started by Hegarty LLP against me as a result of a loan taken from Welcome Finance. My story is very similar to the others, however it is somehow different and I still hope I could defend it. I took a loan from Welcome Finance of £2500 in September 2007. I was forced to take a PPI as it was required to have a loan granted I was told. What surprised me was the fact the PPI for the entire period of loan was added at once to the loan sum and the interest at the same silly rate was added on top of that. I made one payment only and lost my job. I tried to claim the PPI but as I was forced to resign from work (constructive/unfair dismissal) they refused to accept my claim until my case was concluded before Employment Tribunal so that I could proof I did not resign voluntary. They gave me six months to make the claim so I could not make it at all. In meantime WF was trying to recover the outstanding debt by sending doorstep collectors. They did not accept my excuses about the fact I lost my job and had the PPI claim problem. In March 2008 I found a new job, cancelled the PPI (at least tried to do so) and made the repayment offer ([ATTACH=CONFIG]44468[/ATTACH]). But despite several phone calls they ignored it, demanding the entire loan to be paid back at once. I have not heard from WF for the last 5 years apart from the default logged on my credit file in 2011 (4 years after I made the last payment!?). They did not send the default letter to me at all. Two weeks ago I received Court claim ([ATTACH=CONFIG]44467[/ATTACH]) without any pre-action letters. After advised by solicitor (could afford only one a £120 fixed price appointment) I acknowledged the claim online with intention to defend it. As I wanted to save myself from getting CCJ solicitor advised me to send the "without prejudice" offer ([ATTACH=CONFIG]44469[/ATTACH][ATTACH=CONFIG]44470[/ATTACH]) to Hegarty LLP assuring me they will have to pass it over to WF. It was delivered by 1pm last Friday. I called them today to ensure if they have received it and intend to consider my offer. Firstly they did not want to talk to me as the date of birth on their system was different from mine. In the end they asked me if I acknowledge the claimed sum. I said I don't but to save myself from getting CCJ I can pay all the money they claim should my £50 a month offer be accepted. After that they advised me that once I acknowledged the Court claim it has to be dealt by Court and they won't sent my offer to WF at all. I am left with 8 days to prepare my defense. I don't even have the loan agreement which was lost when we were evicted. We are repaying all other debts regularly for years now, thinking of having a mortgage and buying a property soon and now this... Should I get the CCJ, we will lose our last chance of buying our own house as I am 38 now and in six years time it will be to late for the first buy. I never denied I took the loan. But I could not pay it back firstly because I lost my job and could not claim the PPI, secondly I had to wait for them to accept the PPI cancellation which I had my right to cancel. As they never responded I did not see the point of paying anything. Now after five years, without a single letter County Court claim against me. I am a lone parent with two dependent children. We have enough worries about day to day living. I am desperate. Can anyone help us, please? Is there a chance of avoiding the CCJ against me? Thank you in advance. Kind regards Everyone, Daniel
  10. Hi In 2006, I took out a secured loan with Welcome finance for £18,000. I'm now in my 7th year of paying them and I have asked for a statement several times and received nothing. I informed them years back that I have moved due to the property that I used to secure the loan being repossessed. The London Mortgage company has since been dissolved but I never really made payments to them. I have been reading several of your posts and came to the conclusion to do a SAR which I have done and recently received information back after 38 days. It turns out they are saying I still have £16000 to pay even after paying £326 each month. Some of the information looks iff and is unreadable. I feel that I have paid this loan and more but I'm not sure what to do from here. My next step is to claim the PPI but I need something more permanent to try and get this horrible people of my back. They have been calling me non-stop at work, home and my mobile. I never gave them my home or work number but they somehow have it and keep harrassing me. I would really appreciate some advice on what to do. Many thanks!
  11. Hi guys some advice please. I failed to pay for a welcome finance agreement that i took out in 2008. it has this month been sold onto cabot who have spoken to me on the phone to agree a full and final settlement figure. they have said i can pay a partial figure that will clear it to zero but will show on my credit file partial payment. I asked them for settled or satisfied but they said they cant do that as new laws in. I looked on all 3 credit files this week to see what welcome had put and its down as settled now after all late payments.all say same thing. So here is my questions- Shall i accept the offer or pay a small contribution every month? As welcome have said its settled on file can cabot change that marking or set up a new marker with cabot as the loan people as i dont see cabot on my credit file yet? (but cabot informed me it would show after a few weeks) what shall i write back to these people? I am just confused why welcome have marked settled but cabot have said it will say partial when payed? iv enclosed the letter sent by email. also iv had no other information off them just welcome telling me to contact cabot regarding account being sold on, should i request more info? cabot customer 1:02 PM (4 hours ago) to me Letter below. Thanks guys for any help you can offer. Dear X, We are emailing you in regards to the settlement of your account above. We are pleased to confirm we will accept £2085.00 as full and final settlement, to be paid no later than 31st August 2013. Once received and cleared on our system, we will report to the relevant Credit Reference Bureaux to advise them that this account has a zero balance and is partially settled with us. Please be advised this may take up to six weeks. We trust this is sufficient for your records. Yours sincerely, Cabot Financial 0845 0700116
  12. I am in the process of sending a complaint to the financial ombudsman however have read online that it can take 12-18 months for them to deal with complaints and to be honest this has been going on for years so I just want it sorted...... Basically although I know long winded this is the issue at the moment: I originally took a loan out with welcome finance on the 22/2/2007 for £2000 the agreed repayment rate was £105.97 a month for 36months. I made the following payments to this account: £105.97 - 31/03/2007 £105.97 - 01/05/2007 £105.97 - 01/06/2007 £105.97 - 30/06/2007 Total = £423.88 Due to the failure to make payment on the account although it wasunaffordable as I was already behind with payments I agreed for the loan to berefinanced on the 06/08/2007 to £4,102.24. The following payments were subsequently made towards this loan. £167.87 - 3/09/2007 £167.87 - 3/10/2007 £336.87 - 07/11/2007 Total= £672.61 Due to continuing financial difficulties I contacted Payplan in lateNovember 2007 requesting assistance to manage my out of control debts. Payplanfirst contacted welcome finance on the 19th November 2007 advising you that Iwas experiencing financial difficulty and they were assisting me with myfinances. Payplan requested confirmation of my then outstanding balance andwelcome finance responded on the 29th November 2007 confirming that thebalance outstanding was £5,579.45. Payplan sent welcome finance an offer of repayment on 13th December 2007of £31.50 a month and also made the following request: “In order for our client to best discharge their liability to yourcompany we request that you suspend any further interest charges on thisaccount. We would greatly appreciate, if you could confirm this in writing. If the debt is passed on to a Debt Collection Agency, please inform us atyour earliest convenience of the name, address and banking details of the Agency, for us to commence payments immediately. It iscrucial for the smooth running of this agreement that this information ispassed on to us” On the 20th December 2007 Welcome finance confirmed acceptance of theoffer. However later due to a change with my financial circumstances followingagreement with Welcome finance my payment in April 2008 was reduced to £10.07and however I was able to increase this in May 2008 to £25.89. My financial situation continued to improve and Payplan went on to makethe following payments to welcome finance. June 2008 - £63.10 July 2008 - £63.10 August 2008 - £63.10 September 2008 - £63.10 October 2008 - £63.10 November 2008 – £63.10 December 2008 - £63.10 January 2009 - £63.06 February 2009 - £70.56 March 2009 - £70.56 April 2009- Missed payment May 2009 - £70.56 June 3009 – £70.56 My Husband was then unfortunately made redundant which I explained toPayplan and as a result my monthly income was reduced significantly. They madeall my creditors aware of this and a reduced payment term was agreed, thefollowing payments were then made: July 2009 - £34.38 August 2009 - £34.48 September 2009 - £34.48 I was struggling to keep to the payment arrangement of £34.48 thereforediscussed the matter with Payplan who once again contacted my creditors andwith agreement the payments were once again reduced however as and when I wasable to pay more I always strived to do so. October 2009- £4.38 November 2009 - £56.69 December 2009 - £56.74 January 2010 - £56.74 February 2010 - £56.74 March 2010 - £56.74 April 2010 - £56.74 May 2010 – £14.91 June 2010 - £56.75 July 2010 - £56.75 August 2010 - £56.75 September 2010 - £56.75 October 2010 - £76.22 In November 2010 there was once again a significant change in mycircumstance and a previously I contacted Payplan who made an arrangement withmy creditors for me to pay a significantly reduced amount and the followingpayments were then made: November 2010- £1.00 December 2010- £1.00 January 2011 - £1.00 February 2011 - £1.00 March 2011 - £1.00 April 2011 - £1.00 May 2011 - £1.00 June 2011 - £1.00 July 2011 - £1.00 August 2011 - £1.00 I have always strived to keep Payplan updated on my financial situationand as soon as my surplus income improved my creditors were contacted, as aresult my payments to welcome finance were increased to £5 a month and to dateI have made an additional 26 payments at £5 a month. To date I have paid Welcome finance a total of £1,985.70 throughPayplan. In late 2012 I decided to review my credit file with Experian, I was alarmed at finding that welcome finance had recorded that I took a loan out onthe 21/12/2007 for £7,200.61 after them having agreed a paymentplan with paypal and for interest to be stopped on the existing loan on the 20th December 2007!!!. I contacted Welcome finance in March 2013 by telephone as I had no awareness ofthis loan for just over £7,000, I was advised that the loan had been refinancedto take into account the change in payment. I requested a copy of the creditagreement however I was advised that they do not have one and it was donefollowing payplans offer; at no time had I agreed for the loan to be increasedto £7,200.61 to take into account the change in payment. Following this on the 26th March 2013 I sent a formalcomplaint to Welcome Finance and received a response in April 2013 advisingthat they were investigating my concerns. However since this date I have madenumerous telephone calls to Welcome finance and they have been unable toprovide any sufficient reason as to why the loan was refinanced as well asincreased without my authorisation. Furthermore despite advising in April theyare yet to respond to my complaint in writing. The agreement that payplan had with Welcome finance was for the interestto be stopped and that I made the remaining payments of the outstanding balancewhich was with all the interest added £5,579.45 which although agreed theamount was disputed. I am extremely concerned as to how an original £2000 loan increased to£7,200.61 in a period of 10 months when I was clearly struggling financiallyand affordability was clearly an issue. I am aware that Welcome finance are ahigh interest lender and perhaps through my age and naivety at the time I didnot fully grasp this concept however having liaised with Payplan who in turncontacted Welcome finance I am concerned that a loan was refinanced onceagain in 2007 without my knowledge nor agreement. To date I have paid Welcome finance a total of £3,082.19 which clearly coversthe original amount borrowed. Welcome finances unfair practises over the yearshave caused a significant amount of stress and distress to myself. Although Iacknowledge that clearly initially I chose to take out the original loan I feelthat their practises since this date have been evidently irresponsible. Having recently reviewed by credit rating with Experian I have beenalarmed that since April 2013 when I advised them that until the matter wasresolved I would not make any further payments they have proceeded to demolishmy credit record by registering late payments since the date of my complaint. This is obviously having an impact upon my credit rating and over the years has caused a significant amount of stress, they are not taking me to court but can I take them to court?? after all they refinanced a loan without my permission and as such do not even have a credit agreement? Help please..... Thanks
  13. Hello everyone. Im hoping someone might be able to point me in the right direction as I am panicking and Losing sleep over the below. This is really affecting my work and my personal relationships and I really don't know what to do. To summerise, on the 4th July, I received a letter from IND (Dated 17th June) titled LAST LETTER BEFORE LEGAL PROCEEDINGS. This was the first letter I have ever received from them. The letter stated that I have an outstanding debt with Welcome Finance of £3845 and I have until the 1st July to respond before they refer this to court. It would appear that they sent the letter after the deadline date. I sent an email to Welcome and IND on the 4th to ask for more information on this debt but didn't get a response to either. I then sent a CCA letter to IND on 8th July and then, as advised, I sent a Prove it letter to IND on 11th July. On Friday I came home to a claim form from Northampton County Court for a total amount of £5010. I have never received anything in the form of statements or a breakdown of the debt. Just a letter with the above amount from IND. I had a loan with Welcome many years ago. I couldn't even tell you when I last made a payment or how much the loan was for. I do know that there was PPI involved though. I'm positive about that. I looked back over my credit file and there is nothing on there about Welcome Finance now but I have an archived Credit report that shows the debt with them as settled in 2007. This was removed from my credit file in December 2012 as it was older that 6 years. I don't expect help with this but any advice would be very much appreciated. Thank you in advance.
  14. I've been reading around the threads for over an hour now and I'm going dizzy so thought I'd just ask a simple question instead I had 2 possibly 3 loans with welcome around the 2001-2003 period and I'm trying to figure out if it's worth trying to claim PPI. I am very clear that at the time I was told quite emphatically that I could not have the loans without the PPI, was given no information on alternatives available etc. I noticed from Welcome website that they are closed for new loans and that the FSCS had put them into default and that "Customers of Welcome Financial Services Limited (WFSL) may be entitled to receive compensation from the Financial Services Compensation Scheme (FSCS) in relation to advice on or the arranging of payment protection insurance (PPI) by the firm on or after 14 January 2005. The FSCS does not cover claims for compensation in relation to PPI business conducted prior to that date." Obviously my loans were prior to this so would I just send a SAR to Welcome instead (I stupidly no longer have the paperwork) or should I just chalk it up to a bad experience? Any advice, gratefully received
  15. As my case is subject to on-going proceedings, I can not go into specific detail as to why I am making this request. It is suffice to say, that it is being made to use against them. If you have made a complaint to Welcome for mis-sold PPI and they rejected your claim on the basis that the PPI or loan was sold to you by a broker, could you please send me a copy of the rejection letter as a matter of urgency? If you have a copy of the rejection letter, you can send it to my inbox here or post it to this thread in response. Please remove your personal details before uploading it to this thread. If you are unable to remove your personal details, please send it to my private inbox, and I promise and undertake to remove all you personal details upon receipt. I have Welcome in court, and they are on their last leg. I could really use a rejection letter from someone based on Welcome's assertion that the PPI or loan was sold by a broker. If you know of a thread on this subject already please provide me a link, so that I can contact the original poster and make my request. Thank you in advance!
  16. El Be

    PPI Claim

    Hi there, I am very new to this site so apologies if I do things slightly incorrect .... please advise if I do and I will do my best to correct myself ... I have been going around in circles with Welcome Finance and the FCSC for the past 18 months trying to reclaim PPI. My husband and I took out a loan for £10,000 in October 2008 for 96 months (if that helps) with an added PPI amount £2311.65. The PPI was calculated into my loan and I have been paying it on top of my loan since it was taken out. There was also a Broker Fee and an Acceptance Fee on top; all of which is outlined in my full statement. I made my first contact with the FSCS to claim, however the response I keep receiving is that we were providing insufficient evidence to take the claim any further because we are unable to provide full documentation of the loan (the reason is explained further down) I contacted Welcome Finance who explained the PPI was issued by a Broker - 21st Century Finance; who I have been unable to contact to discuss the situation. Welcome deny any involvement with the PPI. This poses my first question; does anyone know how I can contact 21st Century Finance? My understanding is that 21st Century Finance are no longer trading, and if they are they are not responding to correspondance..... I have since been advised that GE Money were also involved in my original loan - so now I am really confused. Looking at other Forum Threads; my understanding is, 21st Century were the Broker whilst GE were the Finance provider. Am I correct in assuming this? If so where do Welcome Finance come into play? Unfortunately we had a fire at home and lost a lot of paperwork because of this so we are unable to find the full Loan / PPI terms and conditions agreement - we have some outlining the amounts etc. So, this brings me to my second question; Who do we contact to get the original documentation we require to make a fully informed application for PPI refund? This is so confusing, I would appreciate any help you can give me to move forward with this. Many thanks
  17. Hi Everyone I was hoping to receive some advice on a very difficult situation I have found myself in. I suppose I will start at the beginning to give you all the details. I took out an initial loan with Welcome Finance back in 2006 for £1500 which included PPI. I then received a phonecall a year later after clearing half of it asking me if I would like a further loan of money, I agreed and so the initial loan was repaid and I had a new loan of £3000 without PPI. In 2008 I stopped paying this loan due for a number of reason and effectively cut off contact with Welcome Finance altogether. I moved to London and had received letters from them and statements right up until I think around 2011. I had never heard anything in terms of debt collection agencies etc. I moved to Spain in Dec 2011 and have come back to London just this month (August) , I applied for a new job and it turns out that a ccj was registered on 25/07/12. The CCJ registered was for £3,551. I contacted Northampton county court and they told me it has been transferred to Kingston Upon Thames court and when I asked they said that was likely when the creditor is seeking further enforcement. I called Kingston Upon Thames and they said that yes it is transferred to them and if I was asking for it to be set aside I need to complete the N244 form and pay £80. I then contacted Welcome Finance and explained that I would like to come to some type of agreement with them so that I can ask the judge to set the ccj aside on the basis of never receiving any notice of the debt being reassigned and also the fact that I had moved out the country and never received any judgement notices etc. Welcome Finance said that they cannot deal with the account and that I would need to speak to IND Ltd. So I called IND Ltd and said the same – I’m not in a position to pay the full £3,551 within the 30 day time limit for the judgement to be automatically cancelled but I wanted to come to an arrangement with them to then ask the judge to set it aside. I was told they wouldn’t accept any agreement . Firstly I offered to pay a lump of £1000 and then pay £500 per month and when she said there was no way I then asked about a discount where she said It would need to be around £3,000 and full and final settlement would be the only way to get the ccj cancelled. Realistically what I wanted was to come out of the conversation with an agreed payment plan so I could then ask the judge to set the judgement aside on the basis that Welcome/IND would agree no to contest and the other reasons detailed. I really don’t know what to do as I am in a catch 22 position, I don’t have the cash to pay the full amount to make this go away the problem I have is I have just had an offer for a position in financial services which is my background but I know next week I will need to submit the credit check info for them and I will not pass hence I will not get the job. Does anyone know what I should do, how I should proceed with this? I would be grateful for anyones experience shared. Thanks. James
  18. Hello there, Would be really grateful if anyone could offer some advice please regarding Welcome Finance. I Voluntary Terminated and agreement for vehicle finance back in February 2009, all above board paid more than 50%, they collected the car etc etc. They claimed i still owed £465.83 and they had "reduced" the agreement down to reflect this value. Since then i have had various battles with them regarding the outstanding balance they claim i owe which is for the balance on the Gap insurance and amounts charged for damaged on the car which was already there when i bought the car. Having recently checked my credit report as i got rejected for a loan, Welcome Finance have very kindly been continually reporting since Feb 2009 as late payments on the credit agreement which has been voluntarily terminated. They have so far registered 32 number 6 payment records and continue to do so. This is the only poor credit reference i have and it does not truly reflect my credit status and is stopping me from getting credit i am entitled to. My question at the end of all this is, how or even can i get them to put my credit file correct as it was voluntary terminated above board and the remaining balance for damage and gap insurance has been under query ever since. Any help or advice whatsoever would be really really appreciated. Thanks in advance
  19. Hello, I'm new to forum so apologies if posting in wrong place. Debt free wannabe just getting his head out of the sand. I've recently recieved my CRA reports and have the mess below caused by myself to clean up. My Problem £2000 loan taken out 2007 - I then lost job the same week and Ive never made a single payment Welcome Finance have been reporting 6 payments late for 5 years debt showing currently at £3930 however on CRA file it states it was £8332 6 months ago? Loan date 04/10/07 £183x25 I have no paperwork for the above only the info in CRA reports. Ive not received any letters from Welcome and would like advice on how to contact/deal with this mess. In an ideal world I'd like to pay the debt off and get the 6 payments late changed to a default or something with a time line. Regards Austin
  20. Hello all, What an amazing forum! It is a bit of a maze for a new user to navigate to the correct area so I hope I am asking the correct question in the correct place. I have a number of creditors, both secured and unsecured. I have defaults across the board after running into financial difficulties over the past couple of years. I seem to have turned a corner financially now and I am keen to clean up my credit rating; using creditexpert, I have a 540 score which is 'very poor'. I have a couple of questions related to getting a better credit score... 1. I have one secured creditor (Welcome Financial Services) who I still owe a few thousand pounds. I have already paid back a huge amount but defaulted a number of times. As the loan is over five years, they have frozen the interest and I am paying every month. Q: Their details appear nowhere in my credit file which I suppose is a good thing. But does this indicate that there may be an error on the original paperwork and should I pay for a 'Subject Access Request' for £10? 2. I have a secured loan with Future Mortgages. I have had the loan for about 3 years but the balance has only reduced by about £1K, despite me now only being 1 month in arrears. Q. Is it worth getting a full report of their charges and original paperwork sent to me and have it looked over to make sure their calculations are correct? Final Q: where does one turn to in order to have interest rate and penalty charges checked against the terms of the agreement; an accountant or are there firms that do this? What sort of cost can I expect from this? If anyone could point me in the right direction, I would be so grateful. I am keen to improve my dreadful 540 score and don't really want to pay inflated charges and interest in doing so. Many thanks!!
  21. Hello, I am new here, and this is the second time that I am writing this...because yes I did accidentally delete all my writing when trying to copy it . So, here is my story. - The Past - I took out an unsecured loan for £2000 with Welcome Finance in April 2008, with PPI. Worst mistake of my life. The contract said that I owed £3640 with payments of £164 per month for 37 months. In October 2008, I went to Welcome Finances office and asked to have the PPI cancelled. They gave me a new credit agreement contract to sign, I signed it. I now realise that the new contract stated exactly the same amount to be paid back (£3640), and over the same time frame as the first (37 months). Thus, it seems that they did mot deduct my initial 5 payments of £164 from the loan, an maybe they did not deduct the PPI? In June 2008, my second payment was a day late. I called them to let them know that I would be paying it the following day (I had no other arrears). On the day that my payment was due, after I had called them, two debt collectors came to my house. Unfortunately, I was out but my housemate answered the door . They gave him a letter that said that I owed Welcome Finance £3640. I now realise that Welcome broke two laws on this occasion: (1) they did not have an invitation or court order to come to my house and; (2) they broke the Data Protection act because the letter that they gave to my housemate was not in an envelope. I did not complain or do anything about this at the time, because I turned into a little mouse trying to avoid further harassment and embarrassment:violin:. Furthermore, I am a scientist not a lawyer or accountant - and evidently, I would not be very good at the latter two. Since October 2008, I have made monthly payments of £64 and when I could afford it £100. My payments have always been on time, and I have no arrears. - The Present - Now I am after Welcome Finance ! I am about to start a postgraduate course and I can barely afford tuition let alone unnecessary and extortionate payments to the corrupt ***holes at Welcome Finance. So, I recently asked for a statement from Welcome Finance. The statement that they sent me only shows payments from October 2008 - not the original account opening date with PPI from April 2008. I calculated that including the original 5 months payments, I have now paid £4000 to Welcome Finance, yes this was for a £2000 loan. And they say that I still owe £1200! What I have done so far: (1) Sent a recorded letter requesting both credit agreements to be sent in 12 days (with £1 postal order for each). (2) Sent a recorded letter stating that if they send anyone to my house again, I will call the police and take Welcome Finance to court. (3) Sent a recorded SAR. (4) Requested that a PPI refund form be sent to me. When I originally called to request a PPI refund form, they said that I could not get one until my account was paid off! I now realise that this was B***S***. So I called and quoted the FSC...then they listened and said that they would send a form. I have only just sent these letters, so am waiting for a reply. - The Future - I would like to: Claim back as much money as I can from Welcome Finance. Get them 100% out of my life ASAP. Dance with glee when I receive a cheque from Welcome Finance, and put that money where it belongs, with my university. Help other to do the same. I would be grateful for any comments or advice that you have on this matter. In particular, I have the following questions: (1) why did my original and second credit agreements say that I owed £3640, when my loan was for £2000; and why did the second contract not show any reduction taking my first 5 payments into account. Is there anything I can do about any wrong doings here. (2) Can I take any retrospective action against Welcome Finance for sending debt collectors to my house illegally and breaking the Data Protection Act, this was in 2008. (3) My credit agreement says that my loan should be paid over 37 months. But I have been paying for 42 months, and they say that I have 13 months left. Is this allowed? (4) Why and how can I be paying back £5500 on a £2000 loan! (5) How much PPI do you think I could get back? (6) Is there anything else that I can do them for. Thank you for reading my story. I look forward to your replies.
  22. I need a little help with welcome i missed a payment due to a pay cut at work i phone welcome and told them what was happening and that over the past 5 years i never missed a payment but was starting to find it hard to keep up my payments i missed 2 payments but did pay a lower amount for 1 of them since then ive had welcoem phoning me every day after money that i dont have. I spoke to my account manager yesterday and said i might be able to make a payment but have been told by her my account is now going to be increased by 10k all because of this and all she could tell me was we all a large amount of interset to accounts in arrears is there anything i can do to stop this or complain about this to any one i know welcome are cowboys buy being stuck with them for another 5 years is starting to get me down. I had a 11k loan with them and ive paid over 20k so far and it seems i ahve to pay another 20k this is far to much in my eyes i really need help over this.
  23. Good Morning all, First things first, a bit of history. July 2005 - introduced to Welcome Finance, got a secured loan for £7500 over 120 months paying £178.10 a month (consisting of £156.05 for the credit / £4.89 for the acceptance fee and £17.16 per month for Mortgage Indmnity Fee per month) All went well and in the following year we looked at remortgaging the house - got that sorted and obviously had to pay off the finance to Welcome. At this point they gave us the old " why not pay this and have a bit more on top for a few quid extra" line and like suckers we sad hell yeah. So in November 2006 we paid off the old loan with a new loan from Welcome over 180 months at £201.87 ( consisting of £190.98 for the credit / £4.30 for the acceptance fee and £6.59 for the "insurance" ) a month borrowing £1079.48. Move forward a year or two and we struggled to apy for a few months " No worries" our friendly local branch manager said, "have a payment holiday and we will just put the payments on the end of the term"; "Excellent" we replied and got on with our life and eventually sorted out payments proper again. Another few years down the line and our friendly branch manager has left and we get a call from the head office about how seriously in default we were and court was looming etc - We explained the payment holiday and were told; "Sorry, Welcome dont do paymnet holidays - Youve been had !!" - So we come to an arrangement to pay the default of at an extra £50 a month and carry on with life. Last year we were contacted again by our local office who kindly told us if we could carry on paying that £50 extra now the default has cleared we could clear our account quicker and pay less interest - we will think about it was our reply. Anyway - every couple of weeks he very kindly Phones us up and asks the same question and gives us the same speel; " we can save you money - pay more, pay a lump sum off etc" so in the end we said " ok, give us some figures" - he gave us some figures and then realised HIMSELF that nothing added up - he was of the opinon that there must be a proplem with our account as 6 years on the figure owed had not dropped and had in fact gone up ! So too cut a very long story ( apologies) short i decided to get a statement of all we had paid and start to look into this a bit more - thats when i found out how many extra "fees" had been added on and how nothing seemed to add up. So thats where i am at the moment - looking at it all and trykng to decide which way to go and whats what. Some initial questions i have are: £10 for a letter / phone call - certainly not moraly right but what is the legal stance ? Should they have copes of these phone calls etc if they charged for them and can i ask to hear them ? £25 for a home visit - As above really - The friendly local branch manager lved locally so would collect a cheque from us as she passed if we were late - didnt realise at the time we were being charged £25 a pop for her to collect ! Loan Acceptance Fee -the figure quoted was £235 - this was added into the loan and we are paying an extra £4.30 a month to cover the acceptance fee making it an actuall £774 minimum we are paying for it Insurance - apparently we requested "LIFECARE 24" (though id imagine it was more like we were told that we had to have it as we had life insurance etc) - this came at a cost of £360 for the pair of us - again being payed at £6.59 a month which works out at £1186.20 over the term despte the fact the cover only looks like it lasted for the first five years ! If you've stuck wth it and read this far then a big THANKS, am interested to hear what others have to say, any advice / experiance they can throw my way would be more than greatfull Scort
  24. Hi all, I' new here but I was wondering if anyone could help me with an old welcome finance debt? In november 2007 due to being made redundant I missed a payment to welcome finance. The loan was for a car and who we spoke to on the phone said I needed to make payments or they would take the car. I struggled but was unable to keep up with the payments and told them on several occasions, both over the phone and in writing that due to financial hardship they would have to take the car. I didn't hear from them again and the car has been sat in a garage for the last 5 years as I didn't know if they'd come and take it at any time, so we bought a cheapie run around and sorned the WF car. Three weeks ago, after our car blew up beyond repair and not having enough funds to buy a replacement car I taxed and tested the stood up car, as I need to get to and from work, have kids that need running around etc. Last week I recieved a letter from IND: Dear Mr XXXXXXX Welcome Financial Services Ltd Account Number XXXXXXXXXX outstanding balance of £XXXXX Please find attached a statement of your account with Welcome Financial Services Ltd. This amount is now seriously overdue and you should pay the amount immediately. Call us immediately to settle the account. Yours faithfully (illegible squiggle) IND LTD On the back of this letter is headed Account Statement with the original creditor, reference number (different to the one on the other side?) Default date and outstanding amount. Another sheet of paper was included with this one: LAST LETTER BEFORE LEGAL PROCEEDINGS. Welcome Financial Services has appointed IND Ltd to collect the full outstanding balance owed by you relating to the account(s) detailed above. To discharge the outstanding balance, you should make a payment of £XXX direct to IND Ltd now. You should not make any payment to Welcome Financial Services Ltd, as it will take significantly longer to process any such payment. It then tells me I can call and pay over the phone, send them a cheque etc In the event that £XXXX is not recieved by us in cleared funds by 04/06/2012 legal proceedings to recover the amount due will be commenced against you without further notice. It then outlines they'll also be recovering court costs, solicitors fees, interest etc. It goes on to say that I've been sent a series of letters and this is the last one they'll be sending-they haven't. Why is this company dealing with it and not welcome? This morning the postie brought me court papers for Northampton county court. It's got Welcome listed as the claimant, not IND, and another company listed to send documents and payments? The company listed to send documents etc to is also the name printed as the claimant at the bottom. I don't know what to do, can anyone help please?
  25. Dear All, I have taken Unsecured Loan from Welcome finance 3 and half year ago Loan details are as follows: Loan Credit amount: £3500 PPI: £1400 Personal Insurance : £190 Total amount credited to me : £5090 in 2008 Total amount payable: £9600 at the end of 2011 So far I have paid more than £8000 of £9600. I have realized that the charges and interest rate from welcome finance are beyond my reach to fulfill. As I am pending total sum of £4900 still to pay (considering £8000 already been paid, this loan is costing me > £1300!!) Current status: I have raised PPI claim and awaiting response I have stopped making payment to Welcome Finance (Considering I have been mis-sold PPI and I woun't need to pay £9600 if I did not have PPI amount and interested added to it). Recently Welcome Finance has sent me letterstating they are traferring my pending amount to Debt Recovery Agent. I'm in no position to pay this amount. I need help, what else I can do now? Thanks in advance
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