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I understand where you are coming from mcfadwmc. the problem is that the County Courts set no precedents - therefore each case has to be judged by itself. Also, there is the additional problem that different courts being presented with essentially the same information may come to different conclusions.

 

 

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I have had dealings with welcome & mr orill last year..my complaint dealt with fraudulent addition of ppi when i left the office, (£900,000 added transaction on my account and pages of additions and deductions leaving account£82,000 in credit, 2 new accounts opened without my knowledge and also these disbursal fees... It was agreed that my debt of £2500 was written off and also £265 costs were given and the matter would be closed.

 

guess what in nov07 they sold it to hfo (hard hitting dca). so breached our agreement of may. I spoke to mr orrible and he said it was in error and slammed the phone down.

 

In retaliation i have recalled all my payments in the form of all the direct debit payments they had through the debit indemnity promise and so now i have got back every penny i have ever paid them. I am also going to mount a case to the fos for compensation for the distress and inconvinience they have caused me. I went to the police when i got my dsar and discovered their fraud as their internal notes confirmed they knew what their staff were doing. this company is corrupt through and through...If you are reading this mr orill ..IT AINT OVER MATE!!!

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Hi alp

 

When you start your case with the FOS perhaps ssuggest that Welcome "are not fit and proper persons to hold a consumer credit license". Copy your letter to the OFT (since they actually issue consumer credit licenses)

 

(in fact, perhaps everyone should do this)

 

 

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Hi everyone! Not too sure where to post this message as i am new but if anyone can point me in the right direction i would be very grateful.

 

I have applied for a loan with Welcome finance but after reading some of the posts i feel very uneasy about it now.

They have sent their final pack to me and my partner to fill in and send off all the documents but i don't want to fill in the section about them contacting my employer.

If i leave this blank can the loan still go ahead? I work with all females and they can be very bitchy and nosey and i don't want anyone knowing about my private finances.

If i send in my payslip will that be enough? My partner has no problems with putting his employer details down.

Also its a secured loan of £10,000 on our house but we only want the loan for six months and then pay it off in full after 6 months - what are their early repayment penalties like?

 

many many thanks xxxxxxx

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Hi alp

 

When you start your case with the FOS perhaps ssuggest that Welcome "are not fit and proper persons to hold a consumer credit license". Copy your letter to the OFT (since they actually issue consumer credit licenses)

 

(in fact, perhaps everyone should do this)

 

yes, not sure if I did this already, I will have to dig out my notes, files, etc, but had something back about the PPI being non returnable because it was too many years ago,(seemed wrong to me), besides my complaint is about the overall behaviour of this company, the fees, added without my knowledge.

 

does anyone know exactly what disbursal fees are?

'rise like lions after slumber, in unvanquishable number, shake your chains to the earth like dew, which in sleep had fall'n on you, ye are many, they are few.' Percy Byshse Shelly 1819

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Hi everyone! Not too sure where to post this message as i am new but if anyone can point me in the right direction i would be very grateful.

 

I have applied for a loan with Welcome finance but after reading some of the posts i feel very uneasy about it now.

They have sent their final pack to me and my partner to fill in and send off all the documents but i don't want to fill in the section about them contacting my employer.

If i leave this blank can the loan still go ahead? I work with all females and they can be very bitchy and nosey and i don't want anyone knowing about my private finances.

If i send in my payslip will that be enough? My partner has no problems with putting his employer details down.

Also its a secured loan of £10,000 on our house but we only want the loan for six months and then pay it off in full after 6 months - what are their early repayment penalties like?

 

many many thanks xxxxxxx

Hi sweetie123 and welcome to CAG.

 

It's completely up to you as we cannot give advice about loans.

 

Personally, though, from what I have read here, I would only borrow from Welcome if there was absolutely no other choice (although I am not trying to influence you in any way). By no other choice I mean matter-of-life-and-death.

 

You will have to ask them about early repayment penalties. Ask them about PPI, late payment charges, etc whilst you are at it.

 

 

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Hi everyone! Not too sure where to post this message as i am new but if anyone can point me in the right direction i would be very grateful.

 

I have applied for a loan with Welcome finance but after reading some of the posts i feel very uneasy about it now.

They have sent their final pack to me and my partner to fill in and send off all the documents but i don't want to fill in the section about them contacting my employer.

If i leave this blank can the loan still go ahead? I work with all females and they can be very bitchy and nosey and i don't want anyone knowing about my private finances.

If i send in my payslip will that be enough? My partner has no problems with putting his employer details down.

Also its a secured loan of £10,000 on our house but we only want the loan for six months and then pay it off in full after 6 months - what are their early repayment penalties like?

 

many many thanks xxxxxxx

 

I would not borrow of this company again if my life depended on it, cant wait to get rid of them!!:-x

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swetie123, you could probably send them a toilet roll and they would sign you up! they want your house! (sorry) I feel that strongly about them!

'rise like lions after slumber, in unvanquishable number, shake your chains to the earth like dew, which in sleep had fall'n on you, ye are many, they are few.' Percy Byshse Shelly 1819

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Well done Postggj!

 

I am about to let my battle commence.

 

Independant engineer picked up my car to examine for few days...kept breaking down on him ha!

 

Car is not fit for scrap, they still havnt complied with my cca or sar 3 months later so I have just complained to the financial ombudsman, information commisioner and about to report them to trading standards!

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with you all the way pebs

as you know from my thread welcome have never responded to any of my correspondents

judge was not to happy with that

i believe you have them under the sale of goods act,not fit for purpose.

i would think with your solicitor the agreement is void

 

keep fighting

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They are not bothering me for the debt, but are updating my file with adverse information also the account balance is going up and up so thats why I decided to report them.

They have no cca with my signature on so cannot prove I gave permission for they to share my information with the CRA`s therefore breaking the data protection act!

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  • 10 months later...

Hi al, thanks for a fantastic thread. I am still pursing a claim against Welcome, specifically i am refusing to pay the penalty charges to the account, and i am questioning the legality of them charging interest on the original credit.

I am slightly confused about some of the comments posted on pages 8 to 10, which seemed to suggest that the "acceptance fee / disbursal fee" is legally legitimate when added to the amount of credit given ?

 

In my case, the figures are:

 

Total case for goods: £5,400

Less Deposit: £100

Amount of credit: £5,300

Acceptance Fee: £150

Finance Charge: £2,615.92

Total Charges: £2,765.92

Total amount payable: £8165.92

At 24.8% APR

Payable at £168.04 per month.

 

Can anyone tell me if these look correct / legally enforceable?

 

Thanks for your help. I realise this is an old thread, but hoped someone can answer me.

Streetgang.

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Streetgang

 

The acceptance fee may be split up and paid in installments over the life of the loan but it must not be part of the loan - ie have interest charged on it.

 

I think what they have done is this. (assuming it's over 48 months)

 

£150/48 = £3.125 (fee divided into 48 equal parts)

£168.04 - £3.125 = £164.915 (monthly payment of the loan - ie with fee taken off)

 

48 x £164.915 = £7915.92 (total paid for loan)

£5300 + £2615.92 = £7915.92 ( = loan + finance charge)

Adding £150 to the finance charge gives total charges of £2765.92 (which is correct).

 

Adding £2765.92 to £5300 gives 8065.92 so the total amount payable is wrong by £100. However, total amount payable is not a prescribed term.

 

So 48 payments of £164.915 = loan + finance charge = £7915.92

48 payments of £3.125 = £150

 

£5300 paid as 48 payments of £164.915 is 23.5% APR (so they got that wrong - however APR is not a prescribed term for a fixed sum loan)

 

So, the answer to you question is that they have made several mistakes but the prescribed terms are in fact correct so the agreement is enforceable provided it is signed by you on the same sheet of papaer as this otehr stuff.

 

 

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Sorry

 

I don't think you have paid anything over what you should have done. You paid (or will pay) 48 x £164.915 + £150 which is £8065.92. The fact that they say it is £8165.92 doesn't stop it actually being £8065.92!

 

 

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  • 1 year later...
use the wilson case..admin fee/accept fee cannot be added to amount before calculating the monthly payments/interest.

the loan one is an unforcable agreement, they have charged interest on admin fee, please read the wilson case, and print it out.

 

I have an agreement for hire purchase dated 2002 ,on the agreement the arrangement fee,and warranty are totalled in with the goods and then intersted added .Also the agreement has a signature on which isnt minme .Which I didnt know until I requested my agreements from the company ,Buy As You View (Dunraven Finance limited ) .Interest charged at 40.6% . The agreement is a modifying a hire purchase agreement

Is this unenforceable ?

Thank you

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