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MissDemeaner

WELCOME FINANCE help me please...

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My husband took out a loan with Welcome Finance in Oct/Nov 08.

The Loan amount was £800 the duration was supposed to be 12 months but has changed to 24 months (Not our decision)

The monthly payment is £105.78

total credit is £1521.48 (A)

credit for insurance is £721.48 ©

cash advance £800 (D)

amount of credit insurances and settle loan (C+B) £721.48 (E)

amount of credit cash advance and settle loan (D+B) £800 (F)

personal accident plan £195 (G)

Lifecare24 £215 (H)

Optional PPI £311.48 (L)

total cash price 721.48 (M)

apr (variable) 71.12%

total charge for credit 1017.24 (N)

acceptance fee £75 (O)

Interest charge £942.24 (P)

Rate of interest per annum 61.96%

 

monthly payments

credit/cash advance £53.01

acceptance fee £4.97

insurance £47.81

total per month £105.78

 

I would like to add we got a phone call 2 weeks afer last months payment (yes it was paid by direct debit) demanding payment and will we have the funds in the bank to collect payment.... like wtf?

 

Anyway the ppi states that my husband has no dependants.... we have 4 children, dependents when i went to school. any help/advice will be greatly appreciated. MissDemeaner x

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It sounds like another case of missold PPI....you should cancel the PPI immediately, and dispute the fact that you have been missold this and ask for a full refund of the PPI + interest....


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.

 

DEBT COLLECTION LETTER/SAR/AGREEMENT TEMPLATES ARE HERE - http://www.consumeractiongroup.co.uk/forum/content.php?65-legislation

 

IF WE HAVE BEEN HELPFUL -PLEASE, PLEASE, PLEASE GIVE A DONATION TO HELP US TO CONTINUE HELPING YOU

 

I AM HAPPY TO RECEIVE PM's AND I WILL RESPOND IF I FEEL I CAN ASSIST BUT WHEN YOU DO CAN YOU PLEASE PROVIDE A LINK TO YOUR THREAD ON WHICH YOU WOULD LIKE ME TO COMMENT - THANK YOU

 

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Forum rules - http://www.consumeractiongroup.co.uk/forum/forum-rules-please-read/9-forum-rules-please-read.html

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It sounds like another case of missold PPI....you should cancel the PPI immediately, and dispute the fact that you have been missold this and ask for a full refund of the PPI + interest....

 

My husband has tried to get it cancelled but they said it can not be cancelled and that it would come off the back of the loan and basically the payments remain the same for the duration, which is 24 months instead of 12, I am doing an SAR to be sent out tomorrow by special delivery as I don't trust the set of barstewards as far as I can throw them, costly but worth it. after that I don't know what my next move will be I am hoping they send me the telephone conversation that puts their balls in the vice for a dispute other than getting this information I don't know what else to do. MissDemeaner

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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.

 

DEBT COLLECTION LETTER/SAR/AGREEMENT TEMPLATES ARE HERE - http://www.consumeractiongroup.co.uk/forum/content.php?65-legislation

 

IF WE HAVE BEEN HELPFUL -PLEASE, PLEASE, PLEASE GIVE A DONATION TO HELP US TO CONTINUE HELPING YOU

 

I AM HAPPY TO RECEIVE PM's AND I WILL RESPOND IF I FEEL I CAN ASSIST BUT WHEN YOU DO CAN YOU PLEASE PROVIDE A LINK TO YOUR THREAD ON WHICH YOU WOULD LIKE ME TO COMMENT - THANK YOU

 

IMPORTANT - If you are sent a private message directing you for advice or support with your issues to another website,this is your choice.

Before you decide,consider the users here who have already offered help and support.

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

If you are approached by private message with a view to asking you to visit another website,please inform the site team via the report icon.

 

Forum rules - http://www.consumeractiongroup.co.uk/forum/forum-rules-please-read/9-forum-rules-please-read.html

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I would also report them to the OFT.....keep us posted on the result of the SAR too....they have to provide it in 40 days....


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.

 

DEBT COLLECTION LETTER/SAR/AGREEMENT TEMPLATES ARE HERE - http://www.consumeractiongroup.co.uk/forum/content.php?65-legislation

 

IF WE HAVE BEEN HELPFUL -PLEASE, PLEASE, PLEASE GIVE A DONATION TO HELP US TO CONTINUE HELPING YOU

 

I AM HAPPY TO RECEIVE PM's AND I WILL RESPOND IF I FEEL I CAN ASSIST BUT WHEN YOU DO CAN YOU PLEASE PROVIDE A LINK TO YOUR THREAD ON WHICH YOU WOULD LIKE ME TO COMMENT - THANK YOU

 

IMPORTANT - If you are sent a private message directing you for advice or support with your issues to another website,this is your choice.

Before you decide,consider the users here who have already offered help and support.

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

If you are approached by private message with a view to asking you to visit another website,please inform the site team via the report icon.

 

Forum rules - http://www.consumeractiongroup.co.uk/forum/forum-rules-please-read/9-forum-rules-please-read.html

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