Welcome Finance

[thelightbrigade]

Got a call this morning from a marketing firm selling the services of solicitors basically looking to identify unenforcable agreements.

I have a car loan with Welcome (bought from an independant retailer) and the guy on the phone said this may unenforcable for a number of reasons.

I am just wondering what these could be as he wanted £99 for the solicitors to examine the agreement.

I don't think I have PPI, doubt it as I never usually opt for it.

He mentioned if the APR is incorrect or the entire repayable amount is not present on the agreement then it is unenforcable. He also mentioned government legislation???

Is this a hoax or something I should explore?

I have arrears on the account and Welcome threatened repossession even though more than 50% has been paid.

Any advice appreciated.

[postggj]

hi the light brigade

first thing i recomend is dont.

that info is given on cag for free

it seems to me the quote goverment legislations,is all to common in selling iva,s.

do you trust giving a copy of your finance agreement to any tom dick or harry.

welcome can threaten repo but with out a court order, they are stuffed.

 

if i were you, post your agreement on your thread.

to do this google photo bucket, its free.

deleate personel details, name, address,account number and signature.

leave the figures in the boxes.

 

one of the experts n agreements will then have a look.

 

this company will prob say its unenforcable and then want a retainer of £500 to continue.

stay away but its your choice

[thelightbrigade]

Had a copy of my account history from welcome a few weeks ago and I noticed a lot of £10's charged to the account. I spoke wit e rep that calls for payment and she said these are charges for calls made because of late payments. I have never been notified of any charge liable, I did not know I would be charged a tenner to receive a call!! I told her I have no intention of paying all these charges as I knew nothing about them.

A week or so later i received a letter from them detailing 4 calls at a tenner a pop. The notice states that they are obliged to notify me under the consumer credit act and are not allowed to charge interest on these fees for a month.

I have since received another notice for a tenner, same text as above.

As I have never before been sent these letters and as they clearly state that they are obliged to send them to me, what is my best course of action now, I want the charges taken off the balance and of course the interest.

The rep just told me to put it in writing that I am refusing to pay!!

[ReasonableRon]

The requirement for lenders to sent written notification of any charges started on 1st October, for charges made after this date. They have to notify you within 35 days of the charge being applied.

[thelightbrigade]

I am coming to the end of a car loan with welcome, just paying off the arrears now. I got a statement from them a while ago for the full history of the loan and I noticed a lo of telephone call charges at £10 a pop.

I genuinely knew nothing about these and did not know I was being charged if I was a couple of days late and in a lot of cases they called before due date. I was paying by card instead of direct debit.

I am assuming I am paying interest on these £10's but I dont want to pay any of them, I dont mind covering the cost of a call but I know for a fact that 1 charge recently was 2 weeks before the due date so should not be there, I have requested a letter stating that this is an error.

Can I contest these charges ad interest applied, it is around £300.

[Fester Tester]

Of course you can. They are no more valid than the banks' ridiculous £38 a pop charges.

[BankFodder]

They are only entitled to make these chargesif they have been clearly explained to you at the outset.

 

If they haven't been explained then the firm is in breach of OFT guidelines on collection and you should complain to the OFT immediately.

 

The OFT are used to getting complaints about this company

[thelightbrigade]

I had received a letter in october 2008 I believe stating I was going to be charged, but I called them and said I would refuse to pay them

[gezwee]

I'd get a claim in soon before they go t*ts up, leave it too long and you'll be standing in line at the I.P's as another unsecured creditor........either that or some muppet will buy their book and go for the corporate closed door approach (ignore you)!

[gezwee]

LONDON (ShareCast) - Cattles said talks to obtain a standstill agreement are progressing, adding that the draft of the heads of terms for an agreement is now being considered by the key financial creditors and the board of the sub-prime lender.

However, Cattles said it would not be 'appropriate' to comment on specific provisions in the draft heads of terms at this time.

'It is not certain that these financial creditors will approve the heads of terms or that a standstill agreement will be successfully concluded,' said the group.

'Cattles will continue to discharge its obligation to update the market as appropriate on any developments.'

Earlier this month it emerged that the lender is thinking about axing 510 jobs at its Welcome Financial Services subsidiary.

 

Woohoo.....check out their annual change - now trading at -99.21% on this time last year, me thinks someones dropped a huuuuuge b**l**k

Edited September 28, 2009 by gezwee
Bl**dy spelling again ...... must learn to read twice post once

[thelightbrigade]

Are welcome in trouble then??

[postggj]

in trouble

thats an understatement

 

they are history

 

very soon now

[thelightbrigade]

is itworth me dooing anything then, if they disappear, what happens to the balance?

[gezwee]

is itworth me dooing anything then, if they disappear, what happens to the balance?

 

Yeeessssssssssss, do something

 

Seriously, have a look on other welcome threads and use the info thats already here, they are in the s**t big time but its unlikely that their book debt will disappear. Consider anything you 'owe' about to be inflated substantially so that cattles can recover something from the auction that will inevitably ensue.

 

Either dispute now or try in a years time when a lowlife DCA has their hands on this. Would be inclined to start the ball rolling now with recovery of unfair charges, don't baulk at possibility of litigation, press them all the way to court and make sure you have enough ammo (from this forum) to screw them to the wall.

 

Honestly....... may seem easy now but remember these turds will start pestering you again in 5 years and 364 days time!

 

Gez

[thelightbrigade]

How can I put my welcome loan into dispute - wht is the quickest route as a payment is due nexrt week

[sillygirl1]

Request a full copy of it via the CCA letter on this site, if they don't reply within 12 + 2 days then you are in dispute.

[thelightbrigade]

ok will do. and if they do send me a copy? can I dispute?

[thelightbrigade]

I cant find the CCA letter??

[Consumer dude]

Just write a simple letter enclosing one pound for a copy of the agreement..

[sam614]

I cant find the CCA letter??

 

 

http://www.consumerforums.com/resources/templates-library/86-debt-collectors/581-cca-request-letter

[thelightbrigade]

Thanks Sam614

 

which do I choose?

s77 or s79

 

[thelightbrigade]

I have just has the WF guy on the phone looking for payment, I told him I am dealing with head office now but he said the car is at risk if I don't make a payment.

What % needs to be paid from original loan to ensure repo can't be done?

[T2upNorth]

1/3 of the total amount payable, then they need a court order.

[thelightbrigade]

I have received a default notice from Welcome. There is a space at the bottom for a signature but not signed - is this a valid default notice? How can I stop/delay this coming into effect, at least until account is in dispute.

What if I make token payments, will this stop any further action?

[postggj]

does the default notice say pay xyz with in 14 days and not a numerical date

 

thats usual and the dn will be crap