Please help me-Long posting re: Welcome Finance Loan Agreement

[m2000]

The first loan (I singed on 18th May 2007) This included insurance which brought the £11,000 loan up to £12,446.44. (NB - Welcome didn't supply this agreement as part of the SAR , i have posted up my own record copy)

 

After recieving the £11,000 cheque I cancelled the insurance.

 

Welcome said that they would 're-do' the agreement. This agreement was included in the SAR (£11,000, no insurance listed) This was done and signed by me on the 14th June 2007.

 

 

Fast forward to September 2008, they out of the blue ring me and offer me a "top up loan" as a valued customer. Stupidly I took up their offer and topped up my loan, so this cleared the £11,000 loan and gave me a new loan amount of £16347.91

 

This last agreement document was signed by me on the 24th Septemeber and then they signed it on the 28th september.... I genuinly cannot recall a cooling off period.

[postggj]

gotcha

 

the last agreement

 

was it signed at home by you or in a welcome office

[m2000]

I *think* I signed the last agreement by post... I was due to go into branch but couldn't get the time off work, they tried to rearrange me to go in, but still couldnt get time off, so in the end they sent it by post and I had to 'drop it through their letterbox when i signed where they asked.

[postggj]

bingo

 

have a nose and i know its complicated

 

just going to do some shopping

 

http://www.consumeractiongroup.co.uk/forum/general-consumer-issues/224741-secured-loan-cancelation-rights.html

[m2000]

Oh crikey - I think I am even more confused!!!

 

Am i reading this right way... basically because the final loan was signed by me on the 24th September and by Welcome on the 28th September, I wasn't given the right of cancellation???

 

Does the above apply regardless of whether the docs were signed in branch or by post? I am sure I signed them at home but how do I prove this was the case?

 

Sorry if I am being thick!! (more than likely!)

[postggj]

the dates tell no lies

 

signed 24 sept by you

by welcome 28

 

thats just four days

when were the funds released

 

did you get any cancelation rights

[m2000]

Hi Postggj,

 

Yes - i guess you are right, the dates on the agreement are signed by Welcome 4 days after my signature!

 

Would that still be an issue if it was signed in the office?

 

From what I recall, I got the cheque 4/5 days after dropping off the paperwork (They made me go into the branch and physically collect the cheque - does that make any difference?)

 

Is there also any argument over the fact that the SAR didn't produce a copy of the very first agreement (the one for £12,464)... surely they should still produce a copy of this even though I cancelled the insurance,???

 

What is the end result here with all the above in mind... where do I stand and how do i prove it?

 

I am really worried they are going to create mayhem with my credit reports ( I get credit checked as part of my work each year, hence concerned!)

 

What would you recommend is my next step? is there a letter I can use for my circumstances?

 

 

Massive thanks for all your help Post, really is appreciated!

[m2000]

My bank statements online don't go far enough back to see when the cheque went into my account. I could get this info from bank if required...

[postggj]

yes its important the date welcome released the funds

[m2000]

Ok - I will try giving the bank a call now and see if they can tell me over the phone.

[postggj]

i must say this is starting to look rather good

[m2000]

Do you think we have a case??

[postggj]

turn the screw

 

SLOWLY

[m2000]

OK - just got off the phone from my bank. They cannot tell me the date the cheque cleared in my account, but it looks like I paid the cheque into my account over the counter on the 1st October 2007.

 

I can ring back on Monday to get when it cleared in my account if you want??? (the department that deals with archived info isn't open at weekends)

[postggj]

Thats Fine

 

All I Need To Confirm Is When Welcome Issued The Cheque, Not When It Clears

[m2000]

If I recall correctly, I got a phonecall telling the that the manager had signed the cheque and that it was ready to collect. I went that evening jsut before they closed and collected it. I would have banked it straight away, so probably the next day.

[m2000]

I have noticed that on one of the secured loan statements that they gave me via SAR (by the way, not sent any prior to the SAR!) that it is itemised "28/09/07 - TRANSFER - CREDIT £11347.91"

I presume that is the internal transfer they did to clear the old loan....

 

 

That would tie in, as the 28/09/07 was a Friday. The 1st October was a Monday, and that is when barclays say i paid in the cheque over the counter....

[m2000]

I have been looking at this more closely today, from their own paperwork (statmements) it looks like they did an internal transfer to clear the previous account and also issued the remainder to me (ie cheque)

 

Postggj- is there a standard letter I need to send them?? They are no longer considering the account in dispute, and obviously I still think its fishy!!!

 

Are they likely to put markers on my credit files? ( i am not currently paying them.)

[postggj]

Yes

You Need To Send Another Letter To Keep It In Dispute

 

Leave This With Me For A Few Hours

 

JUST REPOST THIS

 

DATE YOU SIGNED AGREEMENT

DATE YOU RETURNED AGREEMENT

DATE WELCOME SIGNED AGREEMENT

DATE YOU GOT THE CHEQUE

[m2000]

Cheers Postggj

 

Here is the info you asked for:

 

Date i signed the agreement - 24th September 07

 

Date i returned the agreement - 25th September 07 (I took it back to them and put it thru letter box as office closed)

 

Date Welcome signed agreement - 28th September 07

 

Date cheque collected - last thing on 28th September 07 (banked cheque the next business day which was the following monday - 1st oct)

[postggj]

Bingo:-D:-D:-D

[m2000]

I hope so!!

[postggj]

Ime Doing A Letter At The Moment

 

Yours Is Just One In A Thousend

 

Just Eddit To Suit You As I Am Including The Mif Also For Other Caggers

[m2000]

Sorry to be thick... but what's Mif?

[postggj]

mortage indemnity insurane/premium