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nffcfan

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Hi all new member here so any help would be really appreciated! :)

(Just a shame to see so many people in a simlar situation with this joke of a company)

 

Right here goes in may 06 I borrowed £2000 over a 36 month agreement with payments of £106 a month (£3816 total repayment)

 

Throughout the loan iv missed a few payments here and there and also paid extra here and there so at the time of my loan expiering id paid around £2700 into the account and recieved a statement showing I owed another £3300 with intrest being added every month at around £125 and me paying £106 so the balance would only ever increase.

 

I then contacted welcome as I felt alot of the charges were unfair and should never been placed on the account in the 1st place and to ask what the point of an account manager is when there not managing my account there just letting it stack up higher with the acruing intrest.

 

It was at this point verbably agreed that some charges were infact unfair and my account had been mis managed ( Not advising me to pay more as the balance was increasing with the intrest being higher than my payment)

 

My next step was to try and come to some sort of arangement on the loan that would set a repayment figure (intrest free) and a period of time to pay within. At this point I now had a new account manager who set up an arangement for me to pay the remainder of the original loan balance within 10 months £1096 @ 9 x £106 & 1 x £136 and providing I stuck to this agreement all other charges would be written off at the end of the 10 months and my account closed.

 

This agreement was verbably made in April and since then iv paid the Apr May & Jun payment and im now due to make the july payment but feel im being taken down the garden path.

 

I have on several occasions asked for something in writting to state the agrement and terms but never infact recieved anything and now im told that the person dealing with my account is no longer there and the process was not completed and it may not infact be possible to make this arrangement.

 

Speaking to my new account manager they want me to continue making the payments as I was and at the end of the 10 months they will refer the account to complaints and ask for any remaining balance to be written off but there is no gurantee that they will do this.

 

So while I continue making the payments of £106 my balance will just keep rising as the capitalisation is above this and im recieving no gurantee the account will be closed

 

Im very worried that at the end of the 10 months I will be told nothing can be written off and the balance will be close on £4000 and im just going to be going round in circles with them.

 

Iv made it very clear I feel many of the charges were unfair and that I also have no problem with repaying the amount I agreed to borrow but nothing more.

 

Just hoping I could maybe get some advice on the situation or a better understanding of my rights!

 

Many thanks in advance Johnathan :)

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Hi nffcfan,

 

before you do anything else send off for a CCA to get a true copy of your original contract (i know you are not disputing the loan but it might come in useful) this will cost you £1 then also send off a SAR (subject access request) this will cost you £10 and will show ALL movement and documentation in your account including telephone transcripts, when the transcripts come you will be able to see what was logged about the call where the agreement of 10 payments plus 1 were made....

 

the CCA will take (in theory) 12+2 days after which time if it has not come you can (if you wish) put the account in dispute or you can carry on paying it just to get rid, the SAR will take 40 days (in theory) for them to collate and send the info. send them by recorded or special delivery and do NOT sign them, print your name.

 

good luck

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You really must get everything in writing and as soon as possible.

 

I have heard (overheard and as it has come from one of Welcomes own staff) today that they are to go into administration soon. Now I really have no reason to doubt what I've heard nor do I know what the implications are for everyone who has accounts with them but I certainly would want to get everything in writing. This same person actually asked if we had any jobs going so they are definately worried little monkeys.:)

 

DG


I have no legal training my knowledge comes from my personal life experiences

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Sorry you're being taken on a complete ride - why are you paying ANY charges?? they are unlawful!!!!

 

Welcome won't put it in writing cos they are LYING to get more money off you.

 

You were supposed to pay £3816 - and you have paid about £3100 - if it was me I would pay the remainder you are outstanding from the original agreement and then tell them ever so politely to do one!

 

They are taking advantage!! By the way do you have PPI on there?

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Hey DG interesting what branch did you hear that in or from?

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