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Welcome Finance Charges

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I'm new to all this so was wondering if anyone could help, i'm just finding out about claiming back bank charges etc . . .


My parents have taken out a loan with Welcome finance back in 2006, the loan was for £7,435 over 36 months. Im just looking through all the papers and trying to get all their statements together to get an exact figure of different payments made in the last 4 years, however it appears that they still have £5576 outstanding 4 YEARS LATER!!! Looking at a statement from the last year, it appears that hey have charged them for each telephone call (£10) and letter (£10) sent! NO wonder that the loan still isnt paid off if they add on such charges to the loan amount and then charge intrest on it!


Does anyone know if those charges can be claimed back?


I also found a 'Insurance policy details' booklet, would this be the PPI?


Any advice would be great



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Whether the charges can be claimed back depends on what they were for. I sucesfully claimed back charges for letters from Clydesdale for someone else where the letters were sent saying "your account is overdue, do something about it" or similar. In this case, the letters were sent in response to a payment being late - ie in response to a breach of contract by my friend. Because the charges for letters were obviusly far greater than the actual cost of sending the letters (especially as they were untouched by human hand :rolleyes:) I argued that the charges were threfore penalties on breach of contract and therefore contrary to common law. THey paid them back.


So IMO it depends on what the letters and calls were for. If you can link them to a breach (or breaches) of contract, then you can claim them backe as penalties. If they ar charges for a service then, even though they are extortionate, they cannot be claimed back.



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