Welcome Finance secured loan - sold to coast now resale to swift advances!!

[Peterbard]

hi

Here is a letter for you to look at.

I did not hink it good idea to play the unenforceability card just yet .See what they come up with first.

 

Without Prejudice

 

Date

 

Your name

Address

 

 

Their name

Address

 

 

Dear Sirs

 

Re rescheduling of account no************

 

Thank you for your recent correspondence dated **/**/**** regarding the above.

In order to expedite this matter i would request that you sen me an itemised statement including agreed rebate for the PPI instalments and interest calculated up until the account was first in dispute and using the statutory formula.

 

If the ballance requested is acceptable I may then consider refinancing for that amount in order to settle.

 

Yours

[fuzzywuzzy]

Hiya razor sorry to here your problems with Welcome Finance.

 

Ive been reading through different sites the last few days, and Welcome seem to be the company that all members hold the greatest evidence for illegal practice.

 

Shame all cases couldn't get heard together for a mass complaint.

 

Best i can offer on the thread is, Never ever think Welcome will be doing anything to improve your circumstances , as they do not and never will.

 

They rewrite purely not to let you fall off their monthly income sheet.

 

Stick to your guns and don't let them wobble you one bit, they are bullies and nothing more.

 

Fuzzy:)

[chancer1]

I agree with fuzzy - WFS are out for 1 thing only, to make money out of those who can least afford it.

 

Just a quick question - have you involved the FSA or FOS

 

I have had a run in with WFS - got my £8k balance wiped - I too borrowed £5k, paid £7.5K and they still wanted more - but they failed on a cca request (or knew it was unenforcible and decided not to send it me) and agreed to wipe the loan, but after that, they were impossible, they put a £8k default on my credit file, took it off, put it on, and I have now (after nearly 3 months) managed to get them to correct the info.

 

If you have a chance, hit them where it hurts, your outstanding balance!!!!

 

Just for info - I copied in the FSA/FOS/FLA/OFT/TS/ICO and made welcome aware of it.

 

Good Luck

[Peterbard]

Hi

In order to give you the option i have drafted this, i do not know whether you wish to pursue them for money paid into the account or say, fair enough, you have the money back you loaned but since the agreement was inproperly executerd you are not entitled to any other interest or charges itemised in it, in either case you just need to include the extra information at the end of the letter.

I have also included the the relavant sections which will stop them invoking the use of any security whithout a court order to enforce the agreement.

 

Dear sir

 

RE Account No.***************

 

Thank you for your recent correspondence and offer to refinance the above account.

 

The above action is I take it an admission that the previous agreement was improperly executed due to the erroneous inclusion of the ppi insurance within the total credit calculation.

 

You will of course be aware that this error renders the agreement enenforceable under section 65 and section 127(3) of the consumer credit act 1974.

 

Also in order to conform to the agreement regulations of the act there should be included a figure indicating the Total Charge for Credit, the absense of which renders the agreement enforceable only by order of the court also by section 65.

 

You will be aware that any attempt to enforce securities mentioned within the agreement would constitute a breachof the act, as section 106 renders the security ineffective via sections 113 (3)c and 65.

 

In view of the aforementioned I will be making no further payments on this account

 

 

Best regards

Peter

[razorc]

hi again , thanks peter for that letter draft there , am going to send them that 1

 

will let you know the outcome , hopefully soon

 

 

thank you for taking your time to check all that out

[razorc]

Can anyone please tell me

if an account is in dispute can they still add interest on to the debt

 

welcome finance been in dispute since Nov 2007

 

please help

[rory32]

In what way is the account in dispute?

[razorc]

In what way is the account in dispute?

 

ongoing dispute with them since nov 2007 , regarding them trying to get me to sign a new contract with them , since a got them to take of PPI on the account , now they have offered me a 50% discount on the ammount owed

 

which I refused because they have been adding interest on to the account since its been in dispute

 

my new payments were to be £132 for 18months = £2376

 

they have been adding the interest so they say a owe £3900 odd , so they have offered me to pay £1900 to close the account , i said this ammount was wrong if its half its only £1600 less £300 compensation they said they would give me which they have never did , and i have the letter to prove it which i sent them still they will not give me it

Edited October 19, 2008 by razorc

[42man]

It may be they are sweating as they do not have a copy of your original agreement !! have you sent a CCA request by any chance ?

[42man]

OR beacuse the one they have is unenforceable or because it could be 'unfair'

[razorc]

thanks for the info there

[James Barlow]

Personly , I think that Christhopher Palmer was the nicest, friendly helpful and diligent person in whole Welcome Finince!

 

He was the only one person who was talking to me in polite and professional manner.

 

Thnk You for resolvig this problem with my car!

[postggj]

james barlow

 

ive noticed that you have only done two posts, both prasing welcome.

that is unheard of.

people who come onto this forum are in the norm at whitts end and have reached a deadlock with welcome.

 

for the record

 

i have had dealings with chris palmer and can confirm that he is indeed polite and professional.

its a shame about the rest of the staff.

also, the way i had to get info from welcome was through legal action, as the norm, correspondents get lost or they ignore you.

 

welcome do not resolve complaints unless they are backed into a corner, so forgive me being suspect, nothing personel, you have given no details of your complaint and two posts says it all

[razorc]

Hi postggi heres my thread

 

our loan is for £5000 secured on property and has £550 mortage indemnity fee added on it

 

 

hope you can help

 

thanks for quick reply

[postggj]

Welcome To Cag

 

1st Question

 

Do You Have Your Agreement

[razorc]

that was quick yes do you wish to see it , whole thing is a mess with them , heres a short bit on it , We managed to get PPi took off loan last year there , and they tried to give us a new agreement to sign but we never , we havent paid them in like 10 months having writen endless letters to head office , they just blank you , now we have recieved a letter from the lewis group there inhouse debt peeps

 

do you wish to see the scanned copy , think I have it somewhere if its needed

[postggj]

Please Post It Up

 

Google Photo Bucket To Post

[razorc]

Please Post It Up

 

Google Photo Bucket To Post

 

 

 

http://i232.photobucket.com/albums/ee114/razorcal/agreement-orginal-CAG.jpg

[razorc]

sorry , thats not working , 2 mins sort it out

[razorc]

http://i728.photobucket.com/albums/ww288/razorc/agreement-orginal-CAG.jpg

 

 

there you go

[postggj]

Now Thats A First

 

Welcome Have Not Included The Ppi In The Amount Of Credit

 

 

Same Old Story

 

Mif On A Secured Loan Below 25k, Not A Mortage

Mif Is Done As A Rule At 75% Loan To Value

 

Is There An Acount Number On That Agreement

Were You Given A 14 Day Cooling Off Period

 

Where Did You Sign

Welcome Office Or At Home

They Realy Are The Pitts

[razorc]

Now Thats A First

 

Welcome Have Not Included The Ppi In The Amount Of Credit

 

 

Same Old Story

 

Mif On A Secured Loan Below 25k, Not A Mortage

Mif Is Done As A Rule At 75% Loan To Value

 

Is There An Acount Number On That Agreement - yes

Were You Given A 14 Day Cooling Off Period - that i dont know

 

Where Did You Sign

Welcome Office Or At Home - at home

They Realy Are The Pitts

 

 

what can we do then about the indemnity fee included hope its good

[postggj]

Well The Fee Being A Charge For Credit Is Included With In The Loan,

The Loan Is Then Unexecuted As The Agreement Is Crap

 

So No Agreement

No Debt

 

Ime Also Looking Into This Loan

 

Five Grand Seems A Small Amount To Be Secured On Property

 

Any Body Know The Minimum Amount To Be Secured

 

I Allways Thought It Was 7.5 To 10 K

 

Need To Check That Statement Though

[razorc]

thanks much on your time here , any help would be great to get them off our back

[postggj]

Well You Would Need To Put The Acount Into Dispute

 

You Now Have A Valid Reason

 

They Are Rather Shy On Answering The Mif Question

 

There Is A Case In Court At The Moment Ref This