welcome finance PPI and dodgey dealings

[The wife]

hi,

 

in 2005 my husband took out a loan for £1000, 3 months later he increased the loan in effect taking out a new loan and paying off the old one including PPI. both loans have PPI, the second loan was signed by him but not by the office (he went in to do this). have emailed Norwich Union and am awaiting their response with regards to the PPI's.

 

we then purchased a car through a dealership and were given the credit via welcome. unfortunately we hit a rough patch and arranged to pay the loan on a weekly basis but continued with teh car monthly. it got so bad for us the we the went through a DMP and welcome then started phoning my husband threatening to take the car (which was upto date) if he did not make a payment off the loan even though our DMP company were making regular payments. they said they could take the car because the accounts were linked!!!! then went as fara as to take a monthly payment for the car and put it in the loan payment instead so we got a default payment on the car....anyway the car is safe, we had had it over 18 months of a 3 year term so teh only way they could take the car was to go to court, he stopped dealing with them and left it up to me to go into the office and make the payments rather then ahving to deal with them himself because they intimidated him with all these threats...strangely enough they never talk to me, I did a bit too much research after the first nasty call threatening the car!! Dirty tactics!!!!

 

now they have sent the car to Lewis collections because we are unfortunately 1 payment behind all £144.?? of which we were making up by making £200.00 total payments a month unless it was a 5 week month and then it was £250. apparently our account for the car has been moved from our local office since november and consequently moved twice after that too.

 

what templates do I need to contact DG? is the second loan enforceable without their signature? and how does this break down work out if they don't charge interest on the acceptance fee?:

 

MONTHLY PAYMENTS:

CASH/CREDIT ADVANCE £59.05

ACCEPTANCE FEE £4.43

INSURANCE £20.61

TOTAL PER MONTH £83.98

 

24 payments with an acceptance fee of £75.

 

I will scan the paper work tomorrow when I am near the scanner to show you but you will need a magnifying glass on the bit with the monthly payments. Incidently that came from the first loan.

 

any advise/templates will be gratefully accepted.

 

thank you

 

P.S sorry its so long needed to explain it to some degree.

Edited May 19, 2009 by The wife
for got to add something

[The wife]

ok never used photobucket before no idea if this is right but here is a link. please give me an opinion.

 

Pictures by The_wife-krys - Photobucket

 

another question has arisen from this though,

 

I highlighted an area with green on one of the copies that has a diffenernt rate of interest % written below the total charge for credit and the acceptance fee, does this mean that we are getting charged a different interest rate for the acceptance fee and the interest charge??? I know it sounds stupid but I am confused now:confused:

 

oh on the subject of the DMP we are making regular payments and due to welcomes "capitalisation" fee we are now gaining £5 a month more on his loan rather than seeing it go down.........

Edited May 20, 2009 by The wife
neded to add something else

[42man]

Have you started an official dispute with them stating why you aren't happy ? Did you ever claim on the PPI ?

[42man]

As has been seen with a significant number of Welcome Loans, the PPI has proved to be useless when it comes to actually claiming....I have a pal who owes around 6k to Welcome and they keep calling round threatening to repossess the car, again he tried to claim when he was made redundant but wasn't able to because of some spurious reason....now they owe HIM nearer £7,000 in missold PPI and excessive charges.....

[The wife]

no we haven't claimed anything back yet or been intouch with them about it because I have only really started looking at his applications over the last couple of days, I don't have the car loan agreement...no idea if we got it let alone where he put it and to be honest I am not fussed about the car because that finishes in february (although the lady I spoke to at Lewis collections said that welcome have sent all their accounts that are in debt over so they are inundated with calls) but the loans are a bug bear of mine because of all the charges and now seeing the PPI on it, it has got me thinking.

 

incidently i did the APR thing and it doesn't match his.. the actual payments should be higher (without the PPI) but the interest is less, and as one of those statement shows he was, apparently, paying £4.43 a month for the PPI which is over £1 more than he should be paying if he is not paying interest on it.

 

is there a template to send to DG including mention the insurance tax premiums and showing that they have been paid?

 

And should we put the loan into dispute or get a CCA and SAR first?

[42man]

Yes I would dispute it and make a CCA request....a SAR will also reveal any penalty charges too....

[The wife]

will it make any difference that we are paying the loans via a DMP?

 

sorry full of questions

[42man]

None whatsoever.....it is your right to make the requests....

[The wife]

excellent thank you.

 

can I just add to anyone paying by direct debit, watch out because if you cancel it they can and will set a new direct debit up without informing you.

[FLORENCE77]

excellent thank you.

 

can I just add to anyone paying by direct debit, watch out because if you cancel it they can and will set a new direct debit up without informing you.

 

i was paying welcome by direct debit up untill they refused to help us with thre faulty car they financed, stopped the payments to make them listen to us, theyve never reset the direct debit and i call once a month now to make payment over the phone by debit card.

ive just begun the process of sending a sar request and the harassment by phone letter.

[The wife]

maybe thats just our local office that restart DD's!

 

we cancelled the DD to pay weekly as thats how we get paid, so it was easier to pay it that way than try and save it until the end of the month (no discipline when it comes to money...lol)

[FLORENCE77]

I didnt think they were allowed to restart dd's without sending a new dd mandate for you to sign?

maybe its worth googling to see what the laws are on this....somthing else you could kick welcome finance with:D

[postggj]

First Thing Is Dont Panic

 

You Are Getting Excerlent Advice And As I Have Enough Welcome Threads, Ill Be In The Back Round

 

Dont Worry About Lewis Dca, Its Cattles Plc, Thats Welcomes Parent Company.

 

Prob Not Around For To Much Longer.

They Are Desperate For Cash, 500 Mill Loan To Pay In 21 Days.

 

Thats Why So Meny Welcome Threads At The Moment

 

Get Those Docs Posted Up Asap Then We Will Start Giving Welcome Some Grief

[The wife]

well I knew welcome were bad but this takes the biscuit, got a statement for the DMP and also from welcome, a loand for 2000 with 706 for PPI has suddenly gone up to 6930 aparently the original the original loan was for 4K...the DMP are looking into it after sending them a photocopy of the cursomer copy...looks like they might have done a re loan!!!! will keep you posted.

 

scumbags!!!!

[postggj]

Evening All

 

To Begin With

 

You Would Have Had To Sign An Agreement To Modify The First

 

Did You Ever Go Back Into A Branch And Sign A New Agreement

 

I Am Being Very Cautiouse On What I Say As I Know Welcome, There Doing, Were Riddled With Internal Fraud

[The wife]

no, he has not gone in to sign anything at all, we had read previous sites about welcome and realised what they were doing by changing the terms of a loan (basically re-writing it on longer terms lower payments and more interest) so he refused when they offered him a lower payment, especially as our original offer to them was higher than they required, we just wanted to pay it weekly rather than monthly and after having 2 DD's reinstated by them we were very cautious.

 

when we were paying the car in the office (me going in) they took the payment and after harrassing him to make a payment off the loan, which the DMP were doing they took the £150 payment and took it off the loan, then told head office we hadn't paid the car...head office looked into it and lo and behold the car payment re-appeared in the car account, from the loan account. so because of these dubious occurrences we are very sceptical on their offers and he wont speak to them.

 

incidently I have posted all the loan agreements etc it is linked above. can anyone look them over and see if they are correctly done as i have no idea what to look for.

thank you

[postggj]

This Is Wrong

 

Please Confirm You Have Never Gone Into A Welcome Office And Re Written The Loan

 

They Have Used One Loan To Pay Off A Previouse One

[The wife]

he went in and took out a further loan 3 months after taking out the first one, so yes that was a re- written one. but since then he has not re- written a loan thats how its amazing that a £2000 loan can go up to £4463 or rather £6930 with interest...they told the DMP our original loan was for over £4000.

[postggj]

ime going to need a few days on this

 

welcomes agreements are not easy by design to understand

[The wife]

thank you, I had noticed that... although my previous messages are full of typo's I am not stupid and they make no sense to me in anyway, I used to work in sales and we did contracts and they were easy to understand, those ones the figures go all over the place....

 

thanks again

[The wife]

I just used a loan calculator found on another thread and now i am very confused.

APR 54.40%

£2000 loan without PPI included:

repayments per month £113.72 X36 months

total interest £2093.92

 

Loan with PPI total credit £2707.36

repayments £153.88

total interest 2833.32

 

actual loan repayments according to the contract on £2706.36

£137.08 per month

total interest £2153.41

 

HELP! please what am I doing wrong incidently I kept the arrangement fee off.

[The wife]

major question needs answering fast please.

 

If I sent an SAR, can it be for multiple accounts and will only one £10 fee be acceptable or do i need to send £10 for each account and seperate letters for each one too?

 

I know it might sound silly but checking through bank statements our account number has changed 3 times since the loan was taken out.

[gavin2121]

i would edge on the side of caution and issue a letter + £10 per account... just in case.

 

Welcome (from what I've read) seem to take every opportunity to delay EVERYTHING!!! if by chance you are by law meant to claim per account, they won't inform you of your mistake and you'll end up losing valuable days waiting for a response that will never arrive.

 

Hopefully one of the other more experienced members will be along shortly to advise.

Edited June 18, 2009 by gavin2121

[The wife]

thanks, I hope so too. I also need to know if it has to be the big green form that he should have signed if he had the loan re-written or if they can ge away with an A4 print out to reduce his payments when he was off sick?

[postggj]

Hi The Wife

 

First Thing Is Ten Quid Covers All Info Welcome Have On You, Past And Present

 

If They Delay Or Its Incomplete, I Have A Default Template To Send

 

Next Point

 

When A Loan Is Re-written,

Both Parties Have To Sign

 

Its An Agreement To Modify The First

 

I Repeat

 

Both Parties Must Sign An Agreement To Modify The First Agreement For Which You Would Be Given A Copy