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how do they get away with it ,

 

 

 

so the mif of £550 do they charge interest on this aswell then , and are they allowed to do this

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They Do Charge Interest For Which They Are Not Allowed As Its A Charge For Credit

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am ready to post the next letter , when you got time

 

round 2 :)

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Ill Have It PoSted By Morning

 

Go Get Em

 

Remember

 

Recorded Delivery

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thanks post you da man :)

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Yes, I Agree With That But

thats For A Mortage

Not A Secured Loan

 

25 K Loan Then Becomes A Mortage, Below Is A Secured Loan

Lke I Said, In Court Welcome Have Withdrawn There Action Rather Than Disclose This Con

 

If a Secured Loan Over £25K is Recorded By Debt Collection Agency as A Mortgage, Why Does It State " FIXED SUM LOAN AGREEMENT REGULATED BY THE CONSUMER CREDIT ACT OF 1974" Secured On...........????????

 

Does This Question Make Sense?:lol:

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luv it

 

ime going to use that in my letter

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RAZOR

XX

XX

 

WELCOME FINANCIAL SERVICES

COMPLIANCE

RUDDINGTON FIELDS BUSINESS PARK

RUDDINGTON

NOTTINGHAM

NG11 6NZ

 

DATE

 

ACCOUNT NUMBER

 

F.A.O. Peter ball

 

Central recoveries

 

Thank you for the reply dated xxxxxx to my complaint for which the contents have been noted. (Copy enclosed)

 

In my original letter, (copy enclosed) I requested an explanation as to

 

1/ why mortgage indemnity fee had been included on my agreement, being it’s a secured loan, not a mortgage.

 

2/ why my secured loan is recorded as a mortgage on my credit reference files

 

I’ll take your response in stages.

 

I am grateful that you confirmed that I indeed do have a secured loan and not a mortgage.

 

Your statement that credit reference agencies record secured loans as a mortgage is very misleading. The credit reference agencies only record the data that is provided to them. As this is the case, welcome finance are the data suppliers supplying that data.

 

I now move onto the issue with mortgage indemnity fee and your response to check the terms and conditions.

 

Quote

 

The mortgage indemnity fee shall be charged to you by being included in the total amount of loan.

 

in return for payment of this fee, we agree that, in the event that it is necessary for us to enforce the security, and the value of the secured property upon sale is insufficient to cover all sums then due by you to us under this agreemment,we shall not pursue you for such shortfall

 

The terms and conditions do not answer my questions

 

By what legal authority can welcome financial services charge mortgage indemnity fee on a secured loan, not a mortgage

.

As explained in my previous letter

 

A mortgage is a loan secured by a charge on a property above £25000

 

A secured loan is a charge on a property regulated by the consumer credit act 1974 below £25000

 

I require the relevant legislation you use to charge this fee according to the financial services authority or any other authority.

 

I also require an explanation as to why this mortage indemnity fee, being a charge for credit, has interest applied to it.

 

It is not too much to ask for a reply to these questions instead of a reply more interested in corporate sensitivity, so a simple answer please to a simple question so I can put this matter behind me.

 

 

 

 

 

 

play with it

cut and paste

deleate or add things

you get the idea

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Evening all short story - have ppi with welcome and sent them a letter fro claiming it back but they have sent a letter saying I have to go throu Norton Finance as they were the brokers , anyone else same ?

 

and shall I just send norton finance a letter to reclaim it?

 

many thanks

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Hi

 

You claim from whoever you were paying the premiums to.

 

ims


If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

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That be welcome finance then , so back to the drawing board , need to get another letter done and sent to welcome finance , I was gonna send letter to norton finance aswell , should I , or just rewrite back to welcome

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That be welcome finance then , so back to the drawing board , need to get another letter done and sent to welcome finance , I was gonna send letter to norton finance aswell , should I , or just rewrite back to welcome

 

Welcome all the way

 

ims


If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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many thanks for replys

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Evening all , anyone able to have a look at our credit agreement to check it out

 

 

many thanks

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uploaded :)

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What do you want to know about it Raz?

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does it look all ok ,

been a long battle with them over the past few years ,

got them to take off the ppi on the loan

 

they sent us a new agreement to sign

the new agreement was for the original amount we borrowed

 

, , posted on here a while back re the new agreement they were trying to get us to sign ,

but we never signed it, and haven't made a payment in 3years odd to them ,

not heard anything from them,

fingers crossed,

 

i was thinking maybe the original cca has something up with it ,

it also has mortgage indemnity insurance on it , is this allowed?

and on our credit files its listed as mortgage instead of a loan

 

Hi all , anyone could check my agreement ? does everything look ok on it

 

many thanks

 

bump

 

Could anyone check my welcome finance agreement for me

 

as in what charges i could try claim back

 

 

http://photobucket.com/gallery/user/razorcal/media/bWVkaWFJZDozMzUzMjg3/?ref=

 

sorted of tried to do it a whie back 2009 but no joy as they tried to get us to sign new contract less ppi on it but we refused and not really heard done anything since

thanks

 

razorc

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5 threads merged

No that's not how you do it

 

This was explained last time I believe

 

Trouble is welcome now have a wavier

So you'll get nowt

 

Should have done it last time !!

You've now missed the bus I feel


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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Did try , but they were fobbing me off all the time , last letter i think was they took ppi of loan and they recalculated it , sign this new loan agreement , but we never did

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I doubt the PPI refund was correct

You could try both again

 

See what they say


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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just had letter saying debt sold to coast finance solutions, stopped paying this years ago , could somebody look at our agreement again see if its ok or not

 

 

cheers

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