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    • Can you not hand deliver the letter of rejection to Canalside Motors quoting the the bank transfer reference number ?
    • Thanks - I posted the letter this morning. I'll spend the next few days getting familiar with the consumer rights act and the MCOL service. 
    • Hi there, Just a query regarding Savvy. I took out a loan with them in October 2019 for £750. This would be repaid over 52 weeks at £28.27 per week. I maintained payments on a regular basis until 20th March 2020 by which time I had paid a total of £565.40 (20 repayments of £28.27. I notified Savvy by live chat that I had been furloughed on 23rd March and would struggle too make repayments. i also emailed them on 27th March with confirmation of my furlough. They asked for Income/expenditure - not unreasonable but the template they asked me to use was shocking to say the least. I then sent them my own version drafted with help from National Debtline. This is a self service budget that I can amend and save as necessary.   Long story short and I am now back in work and my wages are back to normal. However, i am required to move house for personal reasons and the current landlord wanting the house back - well notified so there is no issue there. I have also kept Savvy up to date, especially as my family have suffered mental health issues in the early part of this year. Again i have notified Savvy, filled in a new IE form. This is the response I received.   Thank you for your email.   I have updated the income and expenditure form based on the information you have provided which shows you have a minus disposable income of £66.86, we allow £50.00 emergency cash which leaves a minus disposable income of minus £116.86.   Can you please confirm how you make up the deficit each month?   When the loan was issued in October 2019 an income and expenditure form was completed with you, can you please confirm the reason the following has increased.   Rent/ Mortgage has increased by £1,162.00   Housekeeping has increased by £580.00   Household Bills has increased by £507.40   Car/ Travel has increased by £123.80   Social has increased by £150.00.   Due to the changes to your financial circumstances we would need to see a 90 day copy of your bank statement.   Please find below a link to a system we use calls open banking, please click on the link and log in your online banking details this will automatically generate a 90 day bank statement.   LINK REMOVED.   I have placed your account on hold until the 12th August to allow time for the bank statement to be sent in.   They have now issued a default notice.   Any advice would be greatly appreciated before I initiate a complaint against Savvy. I have maintained reduced monthly payments in line with what I can afford. Is it reasonable for Savvy to ask for access to my bank statements. They did not ask for them when I took out their loan.  
    • Click on the SAR link. They will send you everything, that they have on you, screen shot's , emails, etc.  You will be looking for, and will easily find the date that a default notice was sent out, and sold to Cabot. If the default date is before your last payment date then it will be statute barred in 3 months.   Providing the DCA has your current address I really don't think you have anything to worry about. 
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      I was in Sainsbury’s today and did scan and shop.
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rach8736

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hi my wife took a secured loan with welcome,sept 2008 they raised the payments from £321 to£416 per month.i told them we couldnt afford it,they threatened legal action.i told the lady i would happily go to court as they were bordering on extortion,couple of days letter they phoned to say they could reduce the payments by rewriting the same loan.at this time we didnt realise they couldve cancelled the ppi and reduced the repayment.anyway they rewrote the loan with lower repayments an no ppi.though the total repayable has increased and the length of time has increased,this was never stated to us.have they done anything wrong,maybe miss sold her the loan

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Hi,

 

I'm looking for some advice i've been using welcome finance for secured loans for a few years the first one was done via correspondance and all went ok with the exception of being told without insurance i wouldn't recieve the loan so obviously i had to take the insurance.

 

About a year later my personal circumstances meant i had to enquire about topping up my loanthey requestd i attend my local branch to do this - i attended the local branch and i was told i was getting a "top-up" but they actually re-wrote the loan increasing the amount and the period over which it was taken, unfortunately i was in a position where i just had to do it.

 

At the end of last year the interest rate increased so much so that i couldn't afford my monthly payments anymore (from £316 to £421 a month), I contacted the branch and told them this was unaffordable. One of their representatives then turned up on my doorstep looking for payment - my partner and I then explained that i couldn't afford these payments yet again !!! But she informed me they would have to take legal action which could result in repossession of my property, I said I was happy for them to take me to court as i believed they were verging on extortion.

A couple of days later she phoned to inform me they could reduce the payments by re-writing the existing loan at the origional interest rates without the ppi, I would have to attend the office with a payment of £221 to get this done. I attended the office with this payment (the first of the re-written loan) the advisor I had been dealing with wasn't in even though she had an appointment with me - another office girl who knew nothing about the reason for my visit the put me in a tiny office and proceeded to run in and out for approximately an hour and a half with bit's of paper for me to sign - some of them were post dated documents. I know have a loan over double the origional length of time costing me scary amounts.

 

Any input would be gratefully recieved

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Rach.....i'm going to move this thread to the Welcome Forums.....hopefully you should get some more comment/advice there....


PLEASE NOTE - I am not a legal expert, what is stated is my own opinion and from what I have learnt from this forum and my own experiences.

 

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