Me and Welcome Finance Loans and PPI REclaiming too

[beyondhope]

subbing with interest

 

My take on it is once termination sent BOTH parties are released from the agreement so if no payment has been made you have essentially accepted their termination anyway. Assuming no payments have been made since August 2008 I would understand the agreement to already be terminated.

 

I dont know if it will make any difference that the termination wasnt received..

 

Just my thoughts though

[wannabedebtfreesoon]

This is my bible

http://www.consumeractiongroup.co.uk/forum/legal-issues/170345-tale-dodgy-dn.html

[kregrs]

Technically the termination was received, just not when it was issued...

[kregrs]

Is there anyone that can help me draft a letter to send to Welcome to claim back the figures mentioned in the above post?

[postggj]

was this a secured loan and how much did you borrow

[kregrs]

Yes it was a secured loan, taken out in Jan 2005 and settled in July 2005, was for £2500,

[postggj]

even back then welcome were up to there tricks

 

no way was mif to be applied

this is a secured loan (cant believe only £2500)

not a mortage

a regulated agreement under 25 k is a secured loan, not a mortage

 

so why the fee

 

claim back that fee with 8 % apr

 

i make the fee about 10 %

[postggj]

where is the total charge for credit on the agreement

 

do you have a document called

 

STATEMENT OF PRICE

[kregrs]

Dont have a Statement of Price, it was hard enough getting this out of Welcome, sent them sar back in July last year, info they sent related to only car finance, had to ring them and chase up the loan info, and this is all they supplied....

[kregrs]

Haven't been on here for nearly a year, have some old posts I'll try and dig out, but whats the deal with Welcome nowadays? They kindly terminated my car finance nearly 3 years ago now, and haven't really made any attempt to reposssess the car, have had no contact from either them or anybody on their behalf. I did contact them via an email address I found on here re a settled loan and PPI etc, but never had a reply, so now work has eased off a bit, I've decided its about time I made another start on getting some money back out them.

[dx100uk]

first port of call is to sar them

 

unless you have the agreement

 

dx

[kregrs]

Done all that 2yrs ago, although I guess I could probably do with doing it again. As well as the car, there was an old secured loan a/c with some charges etc that I was hoping to be able to get back. The thread is http://www.consumeractiongroup.co.uk/forum/showthread.php?251405-Welcome-Secured-Loan-agreement&highlight=kregrs

 

I did have a letter ready to send last year but have lost it, some onewas kind enough to work out the figures and what I should be asking for from them, anybody feel like going over it and giving me some figures? And what is the address to send it to, attention of? etc.

 

Thanks

[dx100uk]

well if you've had no more loans etc no point

 

all you need to do is work it all out.

 

dont forget that MIF too.

 

dx

[kregrs]

What I was trying to say is do I basically just add another 8% as its been a year since the figures were worked out? I've found the letter I was going to send, so where do I send it?

[dx100uk]

please post upi the letter and the calcs sheet

 

scan the required letters/agreements/sheets

as a picture file

remove all pers info inc barcodes etc using paint

but leave all figures and dates.

goto one of the many free online pdf converter websites

convert the image to pdf format.

or ir you have PDF as an installed printer drive use that

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

NB:you can set where it goes in the post by hitting insert inline.

the hit reply button

dx

[kregrs]

The files are uploaded at the beginning of the thread, I'll have a go at at converting to pdf over the weekend.

[dx100uk]

no your letter and soc please

 

dx

[kregrs]

What is SOC?

[kregrs]

The letter that was going to be / is going to be sent, as written by someone else on here, for me.

 

Dear Sirs,

 

Formal Complaint about agreement XXXXXXXX

 

I write in refence to the above account and would like to raise a formal complaint about how the agreement was settled as well as other surrounding issues.

 

Firstly on the settled account I can't understand how fee rebates and an early settlement penalty totalling £590.47 has been applied. As far as I am concerned, a rebate should be in favour of the customer (i.e. Me) and so I cannot accept that the rebates are appropriate nor treating customers fairly - please refund this plus statutory interest.

 

Also I wish to query how in seven days (5/7 and 12/7) you have charged two lots of what look like full months worth of interest, clearly this is an error and so I require at least £87.20 to be refunded plus statutory interest.

 

The insurances attached to this loan were missold to me, I was informed in no uncertain terms that I would not get the loan without having these attached. I do understand that I received a partial rebate but the remaining £342.29 should be refunded plus statutory interest at 8%.

 

The fees totalling £60 are also I believe unfair deductions, I understand that company policy at the time was to cancel direct debits if they were unpaid more than once, this did not happen so please refund these plus interest.

 

Finally I am most disturbed at the MIF, especialy given the loan size, I don't accept that a MIF of 10% of the amount borrowed is acceptable and this was not explained by your reresentative. Therefore I would like this to be refunded too.

 

To save you the calculations the 8% interest needs to be compounded so the total I require refunding is £1354.96 with 5 years compound interest added means £1990.88, add into the fact of inconvenience, I require a total of £2500.

[MrZ]

Have you had any success claiming any of the fees back? I'm especially interested in the MIF claim.

[kregrs]

To be honest, I haven't even sent the letter yet, had been too busy with work, but thanks to being laid off last week I now have plenty of time to get the ball rolling.

[kregrs]

Right, Feb 2008 took a car with finance by Welcome, long story short they terminated the agreement in Aug 2008, I'll try and dig out the thread on here. Anyway, it's now approaching 3yrs since they terminated the agreement, and apart from one attempt to repo the car in Sept 2008, I have heard zilch from Welcome about it, all bar a phone call in Jul 2009, to tell me it had been passed to Lewis', but even after speaking to them I have heard nothing. Now, what do I do? Welcome have been kept informed of changes of address etc over the years, so they know where the car is, but they seem to not be bothered about repossessing it. My circumstances have changed, we need a bigger car but at the moment I'm stuck with this car due to the finance.

So, any ideas on what to do?

[MrZ]

To be honest, I haven't even sent the letter yet, had been too busy with work, but thanks to being laid off last week I now have plenty of time to get the ball rolling.

 

 

You should try to make a claim on the PPI HA!!!

 

Only joking. Unfortunate about the job though. Use the time to get things sorted. Another oppertunity awaits you I'm sure.

[rebel11]

Hi kre

 

Were you mis-sold PPI on the finance?

[kregrs]

No PPI on the finance, was wise to Welcome by then, but have got GAP.

 

The thread relating to this originally is here - http://www.consumeractiongroup.co.uk/forum/showthread.php?201336-Welcome-Agreement-%28Finally-scanned%29 ,had some issues with the paperwork, namely have never had or seen the original paperwork that was signed, just a copy of the faxed agreement.

Edited May 14, 2011 by kregrs