Welcome/Cohens - case withdrawn ***WOO-HOO ***

[Prudence]

Thanks for that Rebel as have had no luck reaching them on the phone!!! (surprise surprise)

Will try emailing them. It's just a simple question surely ? - how long must a Court keep it's records?

Wonder why I am having such trouble finding the answer.

[Bazooka Boo]

Just to let you know I am looking at this thread now.

I will have a thorough read of it when I have a bit more time...Was that reply from WF for the LBA??

Any chance you can scan & post it up to have a look?

[Prudence]

Thank you very much Bazooka and am working on posting it up now. Yes it was the reply from WF our LBA.

[Prudence]

 

[Prudence]

Hi

I'll try and keep this short as I have a long agonising history with WF! We had a CCJ from them overturned in 2008 and HowardCohen discontinued in 2009.

On our credit report it was shown as "satisfied" and "debt assigned" at March 2010 (they passed to MKRR/Raven) with no "Default" showing, only months of missed payments. I have now noticed that the last entry in March2010 mentioned above has now changed to "Default"!!!! (The original Default Notice was dated 2007!) What are they playing at.

Can you please advise on this, many thanks.

[National Debtline]

Hello Prudence.

 

You certainly need to challenge this. A default should reflect a point in time when the credit agreement actually defaulted, in your case this was in 2007. A default can only happen once - usually once a couple of payments have been missed on a credit agreement.

 

The thing to do is to raise a formal complaint with Welcome specifying that you wish to have the default removed. They are certainly in the wrong and you should be able to easily argue that they are incorrectly processing your personal data. You can also contact the credit reference agencies to place a 'notice of correction' on the file outlining what the issue is.

 

If Welcome refuse to amend the mistake you could take a complaint further to the Information Commissioner.

 

Here are some links that you could find useful:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=05_credit_reference_agencies

 

http://www.ico.gov.uk/

 

http://www.experian.co.uk/downloads/consumer/creditRefAgencyExplained.pdf

 

 

We hope you can get the situation sorted!

 

National Debtline.

[Prudence]

Thank you very much for your reply. I will do that however I have written to Welcome several times and the ICO and FSO and many others re Welcome's incorrect accurate of our data (as the record is incorrect in other aspects too, eg dates, record of payments etc) but no-one seems willing to do anything.

[BRIGADIER2JCS]

Hi Prudence, sometimes you have to avoid the

normal channels forget customer(dis) service all

correspondence on these matter must be addressed

to the DATA CONTOLLER of the company placing the

default entry, customer service staff are generally not

at all well informed on compliance and data control if

they were they would not be making ridiculous statements

threats etc.

[Prudence]

Hi Brigadier! Hope you & yours are well. Thanks for that response. I've had a close look at our credit reports from Noddle and Equifax. Please help me figure out the following and what we should do! FYI our original Default Notice was in 07 - the notice was deemed 'faulty' by the way by us and was one of the items in our Defence getting the judgement overturned. In March 2010 WF assigned to MKRR/Raven.

 

Noddle:

Status: Satisfied (updated April 2010)

Date of Default - **/**/07 (this was the date of the original Default Notice -mentioned above)

On the payment table they have a marker in April 2010 D (Account has Defaulted) and underneath DA (Debt Assigned)

 

Equifax:

Status - Settled Default/Delinquent Balance: Nil

On the payment table they have a marker S (Settled) in June 2007 and no record of any Default

 

Even dates & payments differ on different records!!!

[BRIGADIER2JCS]

HI PRU,

This appears to me that this has been sold on to a third party.

So another form of pondlife is about to surface claiming to own

or the right to collect the debt.

[Prudence]

Yes well we were contacted by Raven I think fairly recently.

To my way of thinking Equifax's entry should disappear in June 2013 but Noddle - well they have TWO Defaults registered - 2007 and 2010 and also 'Satsified' at the same date in 2010. I will contact them now.

 

I have not been so active on CAG recently. Are Welcome still in business??

[BRIGADIER2JCS]

Welcome exists to collect the outstanding book debts.

They are no longer offering credit.

[Prudence]

Does the six years usually go from a 'Default' date or a 'Satisfied / Settled' date?

[BRIGADIER2JCS]

THE date for SB is the date at which a payment was due and no further payment

or written acknowledgment of the debt was made for 6 years (5 in Scotland)

[Prudence]

Excuse my ignorance what is SB? And maybe it's late but I don't understand!!

[BRIGADIER2JCS]

Excuse my ignorance what is SB? And maybe it's late but I don't understand!!

 

Statute Barred 6 clear years no payment or acknowledgment i writting of the debt.

[Prudence]

Thanks Brig. Still not surewhen that date is in our case. Default date of 2007, Settled date of 2010. In between those years had judgment from them, then had it overturned.

[BRIGADIER2JCS]

Default date is usually at the very least 1-3 months

after the cause of action so the date of last payment

will be ealier than the default.

[Prudence]

Hi

Can anyone tell me if you go through FSCS for your PPI reclaim from Welcome - do FSCS uphold the compound interest on it to date?

Many thanks, Prudence

[ims21]

Hi

 

They will give you a regulatory based award as normal but I believe they only pay out 90% of the value of the claim in Welcome's case.

 

So on a loan it is premiums paid plus any contractual interest paid plus 8% on the payments actually made.

 

ims

[Prudence]

Thank you IMS. So would I use your spreadsheet to calculate using the original interest rate? Then add the 8%? And deduct 10%? Sorry, just want to make sure I am understanding correctly. Any idea why they withhold 10%?

[ims21]

Use this one which works out your 8% and then yes you deduct 10% of the total.

 

StatIntSheet v101.xls

 

ims

 

 

EDIT: Also see here

 

http://www.fscs.org.uk/what-we-cover/questions-and-answers/qas-for-welcome-financial-hn0qripj/#Why_is_there_a_90_limit_to_the_compensation_available_from_the_FSCS_

[Prudence]

Thanks very much IMS. Final query - is it still possible to claim if the account goes back to 2005/6

[ims21]

Yes

[Prudence]

Hi, I have found a statement for the life of the account suplied by WF a few years back. Can you please tell me which of these charges I can claim?

 

"Disbursal of Fees"

"Fees" (they don't elaborate)

 

Thank you

Pru