Welcome Car

[louisd77]

I have been asked to go to see a Welcome representative to discuss a missed payment. I can no longer afford the monthly payments on the car & have asked welcome to reduce them. I have made 18 payments so far & have 30 left.

They have asked me to prove why I can no longer pay the full amount. Should I sign another contract? What rights do I have?

 

Thanks,

 

Louis

[pwg6565]

I dont know much about these car agreements. Only what I read on this forum. Do not sign a new agreement though thats for sure because it certainly wont make you any better off with Welcome Finance and only they will get something out of it. From what I understand if you have paid a third you can give the car back..Postggj will be along at some stage soon and am sure he will advise. Dont panic into a new agreement though please !!!

[42man]

Have they issued you with a default notice ? was there any PPI added to the loan (have you ever had any PPI on any loans with them ?)

[louisd77]

Hi,

 

There is no default notice, probably because I initially wrote to them explaining that I could not continue to pay the full amount. So they are asking me to go into their local office to re-negotiate the deal, hopefully for lower payments. I am unsure about signing a new contract though. Would I have to sign it there & then or do I have the right to take it home & take a better look?

I cancelled the PPI after the first two days.

 

Thanks,

 

Louis

[42man]

I would scrutinise anything with a fine toothcomb before signing anything.....Have you sent off for a copy of your current agreement ?

[louisd77]

Hi!,

 

I haven't yet asked for anything to be honest.

What happens if they will not agree to a reduction in payments? Have I got any legal ground to say no to something I cannot pay?

 

Louis

[louisd77]

Visited Welcome today, there office is next door to the FOS, which I thought was ironic.

 

They will reduce payments from £221 a month to £96 but this is now based over 10 years. I only owe £6500 though so this seems a little high.

 

Need to make a decision by Monday because they can only allow 2 people in a set period to reduce payments, so it's a first come, first served basis.

 

Louis

[jdene]

whatever you do do not sign a new agreement with them your current agreement is more than likely to have enough holes in it to render it unenforceable, and if you sign a new agreement now they will make sure the new agreement is bulletproof and your £6,500 will spiral out of all recognition on a ten year plan, these people are only willing to re new your agreement because your current agreement is not worth the paper it is written on or they have lost it, please wait and get more advice from this site dont let them pressure you into signing or you will regret it for years and years to come, this company is about to fall off the map and are desperate to get cash in by any means they can so again dont trust them, dont speak to them on the phone or in person only by letter and for the sake of your future Please do not sign a new agreement

regards

jdene

[jdene]

could some one get postjg or andie303 to have a quick look at this one and advise please

jdene

[T2upNorth]

I'll second that jdene. Louisd77 - Do not sign a new agreement!

 

Take a look at your agreement, it will state the 1/3 figure. Once you hit that they can not repo without a court order. You must hit 1/2 before you can VT.

In the meantime, you must send a CCA request to compliance at Nottingham, £1 postal order, recorded delivery, do not sign it. Once you get that you will be in a better position to move forward.

 

The bit about 2 rewrites per period is a lie. Absolute barefaced lie. They want to create a new, tighter, agreement, far more interest, more fees etc. They are not trying to help you, they are trying to help themselves.

 

Step 1 - CCA

Step 2 - see step 1 !

 

I'll give postggj a shout and see if he can pop by.

T2

[postggj]

hi all

 

been asked to drop inn

tell me

you said you cancelled the ppi after 2 days, did you sign a new afreement

did your repayments go down

did welcome acknowledge by a letter about the ppi being cancelled

 

send welcome a cca request to begin with

 

on monday phone these people

 

Direct Group - Where Insurance and Innovation Combine - Home Page

 

ask them if you have any active insurance products with them

 

keep it simple

 

if you have say ok and get back to me asap

 

DO NOT SIGN A NEW AGREEMENT UNTILL IVE GONE OVER EVERY THING WITH A FINE TOOTH COMB

 

IF WELCOME WANT YOU TO SIGN A NEW AGREEMENT

 

ASK YOUR SELF WHY

[louisd77]

Hi,

 

Thanks for the replies.

 

I definately cancelled the PPI because it was far to much. The payments did drop & I signed a new agreement.

 

Louis

[postggj]

do you have a copy of that agreement and still send in your cca request and confirm with direct group about the ppi etc

[louisd77]

I have both the original agreement with insurance & the second agreement without.

 

Thanks,

 

Louis

[postggj]

hi louise

 

can you post both agreements onto your thread minus personel details

google photobucket

 

use the upload link for message boards with out thumbnails option

 

have you an up to date statement also

 

if so

 

post that also

[louisd77]

Hi,

 

Here are the links:

 

Welcm picture by louisd77 - Photobucket

 

img002.jpg picture by louisd77 - Photobucket

 

I will post the statement when I find it.

 

Louis

[postggj]

its the new agreement i need to see now

the one that was a re-write

[louisd77]

Hi,

 

That's the new one.

 

louis

[postggj]

interesting

what you should have is

 

agreement to modify the first

 

any luck on the statement

[postggj]

take down the agreement

 

the reg number is showing

 

regards

[postggj]

can you put up the first agreement

[louisd77]

I will find it out & post.

 

louis

[louisd77]

Here are the original agreements:

 

img004-1.jpg picture by louisd77 - Photobucket

 

 

img003-1.jpg picture by louisd77 - Photobucket

 

Thanks,

 

Louis

[louisd77]

I have a appointment with Welcome tomorrow. I don't want to sjign another contract, especially one which is going to cost me £11520 for a car which is probably worth £3000. Plus I have already paid £3757. There is now pressure on me to sign & not miss the appointment.

 

Any suggestions would be appreciated.

 

Louis

[postggj]

give me a few hours

 

regards