HFO Services

[linz2011]

thing is if it is only 3 years old it is likely to be the real deal but it is certainly worth a look

[Docman]

I have recieved a credit agrement thismornin that i signed 3 years ago with Welcome Finance. I wanna clear this debt off, if i offer HFO a payment i can afford, do they have to accept it?

 

Can you post up a copy minus any personal details. Its just surprising our friends have actually got an enforceable agreement.

[GAVH1981]

Hope this is clear enough to make out, i dont know how to upload a full page one

[Docman]

Hope this is clear enough to make out, i dont know how to upload a full page one

 

Sorry it is still too small to read but even at this size it looks a remarkably 'clean' document. Can you try photobucket.com after taking out any personal details.

[stan5131]

Hi Gav. You also need to send a S.A.R - (Subject Access Request) request to the original creditor. It is highly likely that the debt includes unlawful charges and possibly mis sold ppi. Further, we need to see a legible copy of the agreement they sent you. I know they have previously cut and pasted an application form and tried to pass it off as the original agreement.

 

With regards to the Telecommunications Act and harrassment by telephone especially at work, someone recently successfully sued a company for a six figure sum for continuing to harrass by telephone after being served with such a notice. If they continue to call, keep a diary of every call for future reference.

 

Stan

[Brassed off]

Gav - copy and paste the IMG code from photobucket - should come up on here as clear as a bell;) From memory (and mine's not good) - should be 3rd or 4th link down:)

[GAVH1981]

[stan5131]

Ok Gav. Can you now give us a little more information. The total loan was for £2,511. They are asking for £3,000. That imediately tells you that charges have been added. We will know more on this when the SAR info comes back. Can you remember how many payments you made and when you stopped paying?

 

I also noticed that this loan consolidated a previous loan. They have also charged you PPI. Under a CCA request they have to send copies of ALL agreements they hold on you. As this loan consolidates a previous loan (on which there may also have been charges) we need a copy of that agreement and any others. We also need full details on the PPI. This was sold as a single premium policy and you were charged interest on that too. This practice has been deemed unfair by TS and other governing bodies. It is possible that (in fact highly likely) that you had PPI on the prevous loan in the same way. This means you paid up front for X years of cover but settled the loan early and only got half the cover.

 

I really do think that this debt is going to be reduced substantially. You can challenge the charges when we know what they are and also the PPI.

 

Stan

[GAVH1981]

So is the best thing to do ask HFO for all the information they hold about this debt on file to be sent to me? Am i entitled to this? I think i paid tor 6 months, till i stopped paying, because of personal reasons. I am almost sure that they told me PPI was compulsory, but cannot be too sure on this.

 

If you can tell me exactly what i need to request from HFO i will get straight on with it.

 

Gav

[stan5131]

Gav, yes you are entitled to copies of all agreements linked to this one. As the loan was consolidated from a previous one then basically it forms part of the CCA request.

 

It is highly likely that you were told ppi was compulsory. OFT did a massive survey and found that people were either being quoted for a loan which included ppi without their knowledge or they were being told it was compulsory or than they would get a better rate of interest if they took it. This practice has been deemed unfair by OFT and if they havent followed certain guidelines you are entitled to claim it back.

 

Write back to them and tell them that not only do you require a copy of the previous agreement which was used in consolidation, but that you require all documentation and notes relating to the PPI and any PPI that was sold with the previous agreement.

 

Single premium PPI is a complete rip off. If you take out a loan over five years, the company sell you a 5 year PPI plan. This is sold as as one off up front payment which is added to the loan on which they then charge you interest on the PPI too. If you settle the loan after say one year then there is no refund. You have had 1 year cover and paid for five. Get my drift! What they should have done is offered you the choice of 'pay as you go' PPI. In other words you pay £14 per month as you go, and can cancel it at any time if you settle the loan early. This is what is called 'stand alone' PPI. It is something you organise yourself through an insurance company that does not have any ties to the creditor. Of course they dont want to tell you that because they are making big commission out of you. If you werent give the choice or it was not properly explained to you then you have a case for claiming it back under the grounds that it was mis sold to you.

 

We should also get this info when the SAR comes back.

 

Stan

[stan5131]

Also, where did you sign this agreement?

[GAVH1981]

I shall write to HFO when i get out of work and request my whole file.

 

I signed this agreement at Welcome Finance on the address shown on CCA

[stan5131]

I really do think there is a good chance of wiping out this debt once all the charges and ppi's are removed.

 

Stan

[patrickq1]

you will also find an additional charge of about 500 this will be what HFO have added to your account,in effect an illegal charge ,also claim back the PPI as well might be they owe you money...so its SAR the oc and cca hfo

[Rhia]

I would also challenge the interest rate of 47.3% this is surely challengeable under the Unfair Terms in Consumer Contracts - it is almost 50% -usurious.

[patrickq1]

…………..

[Having_A_Knightmare]

patrick it will not be long before I have made one about HFO

 

HAK

[patrickq1]

i now have the full history of HFO i will post on my thread listed below tommorrow te te lets see what they think of the data protections lol this history sheet goes right back to 1993 you would not beleive how many bankruptcies they have against them(the directors that is)te he you will laugh at it im in fits laughing at it now

patrickq1

[patrickq1]

just got the post now,

HFO say

I have been reveiwing your account history and i can confirm that because of your personal circumstances you qualify for a substantial discount on your outstanding balance,however ,this offer will only be available for 5 days so you need to call me as soon as possible. if you call me today,you can stop worrying about this debt.

if you fail to get in touch,HFO will have no optionbut to instruct solicitors to sue you in order to recover the debt Once the solicitors are involved i will no longer be in a position to help you .HFO will not write of your debt so there is no point in ignoring this situation

 

i,ll do everything i can to help you ,whatever the circumstances.Please give me a call

yours sincerely

[onecall1]

Hi, it seems they have wound you up as much as they have me. I have to say that on my original posting and several others I have disclosed who the directors are and have spent many hours investigating these cowboys. I have huge files relating to their every move, their homes and income and all their dodgy connections. The only thing I dont know about them is what they had for breakfast. All the authorities have been advised of their very dubious activities and I must say that no-one seems interested. However, they have now gone very quiet. I have to be careful what I disclose but I would be happy to PM you and we could exchange notes.

[patrickq1]

yes we all seem to be getting annoyed at their stupid phone calls

patrickq1

i have all their history right back to 1993 but their is that much will take a couple of days just to type it all in like you say we gotta be very carefull

[patrickq1]

"SCOR – Access to full data is now available to all DBSG Members. Get maximum benefit." Steering Committee on Reciprocity (SCOR)

surely you cannot accept this as being acceptable

[patrickq1]

oh dear i got edited out but realise no names is the correct policy ,my apoligies cag

patrickq1

[Docman]

Patrick

I think the FSA made a great mistake in agreeing with the FOS and OFT to let the banks off regarding bank charges, for that is what they have done. Many people thought the banks had paid out £20-30 million in charges over the first six months but the reality was far worse.

The OFT case was announced late on Thursday evening with the application to Court rushed on Friday. Come Monday, HSBC had to report its financial results to the Stock Exchange. They had paid out £114 M; RBS was to follow on Tuesday with £78M and HBOS/Halifax the day after with another £70M. Some commentators estimated that collectively the banks had paid back over £1 Billion in six months. Any pretence of a defence from the banks in cases brought to court after the following Monday would have seriously annoyed any judge. That's why the banks agreed to a test case, which the OFT had been asking for all along.

The FSA should have stepped in (they would have known what was going on) and told the banks to stop the practice of charging customers and pay back the money without the need for a court case, just as the pre-FSA regulators did with pensions and endowment mis-selling. But a third major consumer scandal in a little over 10 years , this time involving the banks directly, would have rocked the banks and the FSA probably didn't want stand up to their paymasters in the banks.

[patrickq1]

edited