Jump to content


  • Tweets

  • Posts

    • Even a Piers Morgan is an improvement and a gutless Farage Piers Morgan calls for second Brexit referendum WWW.THELONDONECONOMIC.COM Piers Morgan and Nigel Farage have faced off over Brexit and a second referendum in a heated reunion on BBC Question Time.   “Why don’t we have another referendum about Brexit?” he questioned. “I seem to remember when 2016 came around we were told there was going to be control of our borders and it was going to be economically beneficial to this country. And eight years later we have lost complete control of our borders… and economically it seems to have been a wilful act of self-harm.”   ... Piers missed off : after all somebody said a 48/52 decision would be "unfinished business" by a long way - was that person just bul lying (again)  
    • when did they (who) inform you there was a 'police case' and when was this attained? i will guess the debt is now SB'd as it's UAE 15yrs. have you informed the bsnk ever by email/letter of your correct and current address? you can always ignore anyone else accept the bank,  Block and bounce back all emails. Block any text messages  Ignore any letters unless it's: - a Statutory Demand - a Letter Of Claim - a Court Claimform via Northants bulk.  
    • I left Dubai 8 years ago and intended to return. However a job prospect fell through. I’d been there for 15 years. I decided to pay my credit card and the bank had frozen my account. There is no means to pay the CC so completely unable to pay when I wanted to other than the bank advising me to ask a friend in the UAE to pay it on my behalf!  fast forward bank informs there is a police case against me for non payment. Years later IDR chased me and after months/ years they stopped. Now Judge & Priestley are trying their luck. Now I have received an email in English and Arabic from JP saying the bank has authorised them to collect debts. Is this the same as IDR although I didn’t receive anything like this from them. Just says they are authorised?
    • The neighbour's house is built right on the boundary so the side of their house is effectively the 'wall' in our garden separating the two properties. It's a three storey house and so the mortar poses a potential danger to us. Because of the danger, we have put up an interior fence in our garden to ensure we don't risk mortar dropping on us. That reduces the garden by 25% which is not only an inconvenience, but it's the part of the garden where we had lined up contractors to install a patio and gazebo which we will use for our wedding reception in less than 2 months. We have spoken to the neighbour's caretaker who is on the case, has spoken with a roofer and possibly a scaffolding company, but there are several issues. They don't seem to understand the urgency. As long as there is a risk of falling mortar, we can't carry out any work in the garden, and unless they hurry up, we're looking at cancelling our wedding as it's not viable to book a venue because we can't use our own garden! Also, they want to put the scaffolding up in our garden which would be ok with us if it was a matter of a few days and they hurried up, but there is a tree (most likely protected by the conservation area), so most likely they can only reach part of the roof with the scaffolding if they put it up in our garden. We suggested a roofer with a cherry picker but they seem to want to use a company they've used before. Any and all comments, suggestions, advice is more than welcome.  PS. does it make any difference that the neighbour is a business (ltd) and not a private dwelling?
  • Recommended Topics

  • Our picks

    • If you are buying a used car – you need to read this survival guide.
      • 1 reply
    • Hello,

      On 15/1/24 booked appointment with Big Motoring World (BMW) to view a mini on 17/1/24 at 8pm at their Enfield dealership.  

      Car was dirty and test drive was two circuits of roundabout on entry to the showroom.  Was p/x my car and rushed by sales exec and a manager into buying the mini and a 3yr warranty that night, sale all wrapped up by 10pm.  They strongly advised me taking warranty out on car that age (2017) and confirmed it was honoured at over 500 UK registered garages.

      The next day, 18/1/24 noticed amber engine warning light on dashboard , immediately phoned BMW aftercare team to ask for it to be investigated asap at nearest garage to me. After 15 mins on hold was told only their 5 service centres across the UK can deal with car issues with earliest date for inspection in March ! Said I’m not happy with that given what sales team advised or driving car. Told an amber warning light only advisory so to drive with caution and call back when light goes red.

      I’m not happy to do this, drive the car or with the after care experience (a sign of further stresses to come) so want a refund and to return the car asap.

      Please can you advise what I need to do today to get this done. 
       

      Many thanks 
      • 81 replies
    • Housing Association property flooding. https://www.consumeractiongroup.co.uk/topic/438641-housing-association-property-flooding/&do=findComment&comment=5124299
      • 161 replies
    • We have finally managed to obtain the transcript of this case.

      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

      Frankly I don't think that is any accident.

      One of the points that the judge made was that the customers contract with the broker specifically refers to the courier – and it is clear that the courier knows that they are acting for a third party. There is no need to name the third party. They just have to be recognisably part of a class of person – such as a sender or a recipient of the parcel.

      Please note that a recent case against UPS failed on exactly the same issue with the judge held that the Contracts (Rights of Third Parties) Act 1999 did not apply.

      We will be getting that transcript very soon. We will look at it and we will understand how the judge made such catastrophic mistakes. It was a very poor judgement.
      We will be recommending that people do include this adverse judgement in their bundle so that when they go to county court the judge will see both sides and see the arguments against this adverse judgement.
      Also, we will be to demonstrate to the judge that we are fair-minded and that we don't mind bringing everything to the attention of the judge even if it is against our own interests.
      This is good ethical practice.

      It would be very nice if the parcel delivery companies – including EVRi – practised this kind of thing as well.

       

      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
        • Like
  • Recommended Topics

Welcome finance secured loan question


will lliw
style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 5008 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Hi folks,

 

Just a quick question on my secured loan from WF if anybody here can help or has had a similiar situation.

 

I took out this 3K secured loan last year for a period of 3 yrs and got what i think is a decent rate of 16% considering my poor credit. Anyway, due to sickness I have not paid for 5 months and have had no default notice or phone call just a notice of sums in arrears, is this the same as a defualt notice? I did enqiure a few months ago by phoning but cant really remeber the conversation I had. However i recieved a statment in the post a week later.

 

My question is how come WF havent pesterd me since im 5 months in arrears and has anybody had a similiar experiance? Is this how a secure loan usualy works if you fall behind?

Link to post
Share on other sites

I refused to take the PPI and was advised this was risky what with the lone being secured etc. I stuck to my guns on that one. To be honest I have read around here and the general conscencus is that WF are a bunch of T~*~s but so far they have been alright with me. (steps outside to take some air)

Link to post
Share on other sites

  • 3 months later...

Hi to all the great folks here old and new!!

 

I have a little problem that may well go critical for me V soon and so I am asking if anybody out there could offer some advice please.... I have already read around the welcome posts alot but there are some rather large threads that I am still working through so apologies for my ignorance as I am still doing my homework. :)

 

About a year ago I took a secured loan with welcome for £3000 and in doing so I broke my own golden fiscal rule of taking on secured debt (thankyou Gordon!). I have not paid any instalments for around 6 mths due to reduced income related to ill health and have now recieved a defualt notice. I did not take the PPI and so find myself in some mess....

 

Below is my default notice anonomised if somebody with experiance could look over and give me there opinion....

 

Thanks

 

W

 

 

PAGE 1

Ref: XXXXXX

Date: 04/12/2009

 

Dear XXXXXXX

 

FAILURE TO READ THIS LETTER MAY RESULT IN LEGAL PROCEEDINGS

 

You are hereby served under Section 87 (1) of the Consumer Credit Act with the attached Default Notice. We intend to exercise our rights to enforce collection unless you clear the arrears within fourteen (14) days or alternatively contact us with your proposals for settlement.

 

Be advised that should you fail to contact us and legal action becomes necessary we may apply through the courts for an Attachment of Earnings Order to be made and deducted via your employers.

 

This notice should include a copy of the current Office of Fair Trading information sheet on default. This contains important information about your rights and where to go for support and advice. If it is not included, you should contact us to get one.

 

You will also be held liable for legal expenses incurred.

 

We strongly urge you to telephone the undersigned immediately with your intentions.

 

 

Yours sincerely.

 

 

Welcome Finance

 

 

PAGE 2

 

 

IMPORTANT - YOU SHOULD READ THIS CAREFULLY

 

DEFAULT NOTICE

 

Served Under Section 87(1) of the Consumer Credit Act 1974

 

Date of Notice: 04/12/2009

 

Agreement Reference: xxxxxxx

 

Between xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

and WELCOME FINANCE of Welcome Financial Services Ltd, Bishops House, Abbeyfields Road, Lenton, Nottingham, NG7 2SZ.

 

We refer to the above Agreement which you have entered into with us. The terms and conditions provide that you must pay each monthly installment in full on its due date. You are in breach because you have failed to pay the contractual installments.

 

To remedy the breach you must pay to us the total arrears of £ xxxx within fourteen (14) days.

 

 

IF THE ACTION REQUIRED BYTHIS NOTICE is TAKEN BEFORE THE DATE SHOWN THEN NO FURTHER ENFORCEMENT ACTION WILL BE TAKEN IN RESPECT OF THE BREACH

 

IF YOU DO NOT TAKE THE ACTION REQUIRED BY THIS NOTICE BEFORE THE DATE SHOWN THEN THE FURTHER ACTION SET OUT BELOW MAY BE TAKEN AGAINST YOU (OR A SURETY).

 

FURTHER ACTION:

 

On or after 14 days from the date of this notice we:

 

- shall require payment of the outstanding balance less rebate allowable and other deductions (if any) as set out below:

- may enforce any security given in connection with this Agreement.

- may apply for an Attachment/Arrestment of Earnings

 

If the arrears have been paid before the date shown above you may ignore this demand.

 

PAYMENTS TO BE MADE:

Total amount outstanding: £xxxxxx

Rebate of Acceptance Fee and credit charges*: (£78.25)

Rebate of insurance *: (£0.00)

Collection Fees £84.29

Default interest £xxxxx

Interest to settlement £xxxxx

Total amount to be Paid: £xxxxxx

*Rebate is calculated on the assumption that payment is made on the date shown and will be revised if payment in full is not made on that date.

 

IF YOU HAVE DIFFICULTY IN PAYING ANY SUM OWING UNDER THE ACCOUNT OR TAKING ANY OTHER ACTION

REQUIRED BY THIS NOTICE YOU CAN APPLY TO THE COURT WHICH MAY MAKE AN ORDER ALLOWING YOU OR ANY

SURETY MORE TIME.

 

IF YOU ARE NOT SURE WHAT TO DO, YOU SHOULD GET HELP AS SOON AS POSSIBLE. FOR EXAMPLE YOU SHOULD CONTACT A SOLICiTOR, YOUR LOCAL TRADING STANDARDS DEPARTMENT OR YOUR NEAREST CITIZENS' ADVICE BUREAU.

 

This notice should include a copy of the current Office of Fair Trading information sheet on default. This contains important information about your rights and where to go for support and advice. If it is not included, you should contact us to get one.

 

Link to post
Share on other sites

Hi folks, really need some help to tackle this one if anybody has any idea's I would be gratefull.

 

Does anybody know if it will be possible to negotiate a lower settlement on this secured loan of mine as I have just recieved my redundancy pay but have to be carefull how I spend now as no longer earning. I really need to contact them ASAP as my 14 days defualt notice is up so if anybody can help with any advice that would great....

 

Thanks!!

Link to post
Share on other sites

Not sure of the implications on the letters, im sure somone else can advise on that but it is never too late to send a CCA or SAR as they are legal obligations..... good luck with it all, might be worth holding off on the CCA and SAR for the adress to be confirmed as they gone bang and Post is confirming the correct addy. last thing you ant is too lose your 10 pound fee . . .

 

 

Link to post
Share on other sites

Not sure of the implications on the letters, im sure somone else can advise on that but it is never too late to send a CCA or SAR as they are legal obligations..... good luck with it all, might be worth holding off on the CCA and SAR for the adress to be confirmed as they gone bang and Post is confirming the correct addy. last thing you ant is too lose your 10 pound fee . . .

 

 

Thanks Ozzy I have SAR and CCA ready to go but didnt realise the address might be changing. I will wait as advised and see what POST digs up. Thanks again...

 

Getting a little jittery though as this loan is secured on my house and my 14 days defualt notice is up. Plus Ive never dealt with secured loans before!!! Never again!

Link to post
Share on other sites

Just my take on this but they typed (14 days) as opposed to it being an actual date - have a read of this - http://www.consumeractiongroup.co.uk/forum/show-post/post-2166205.html

 

Especially this bit -

 

SCHEDULE 2

 

FORM OF DEFAULT NOTICE BEFORE A CREDITOR OR OWNER CAN BECOME ENTITLED, BY REASON OF ANY BREACH BY THE DEBTOR OR HIRER OF A REGULATED AGREEEMENT, TO TERMINATE THE AGREEMENT, DEMAND EARLIER PAYMENT OF ANY SUM, RECOVER POSSESSION OF ANY GOODS OR LAND, TREAT ANY RIGHT CONFERRED ON THE DEBTOR OR HIRER BY THE

AGREEMENT AS TERMINATED, RESTRICTED OR DEFERRED OR ENFORCE ANY SECURITY

 

 

Regulation 2(2)

 

 

 

Details of agreement

 

1

 

A description of the agreement sufficient to identify it.

 

 

 

Parties to agreement

 

2

 

(1) The name and a postal address of the creditor or owner.

 

(2) The name and postal address of the debtor or hirer.

 

 

 

Details of breach of agreement and action required to remedy, or pay compensation for, the breach

 

3

 

A specification of:--

 

(a) the provision of the agreement alleged to have been breached; and

 

(b) the nature of the alleged breach of the agreement, specifying clearly the matters complained of; and either

 

© if the breach is capable of remedy, what action is required to remedy it and the date, being a date [not less than fourteen days] after the date of service of the notice, before which that action is to be taken; or

 

(d) if the breach is not capable of remedy, the sum (if any) required to be paid as compensation for the breach and the date, being a date [not less than fourteen days] after the date of service of the notice, before which it is to be paid.

 

 

Action by the creditor or owner to be ineffective if breach remedied or compensation paid

 

4

Link to post
Share on other sites

  • 8 months later...

Hi fellow caggers new and old. :-)

 

I have a small secured loan with welcome that i took out a couple of years ago, I have not made any repayments since before christmas due to ill health and redundancy and I did not have ppi!

 

My problem is that welcome ( through Salans LLP) are threatening to seek to enforce the charge over my property by way of possesion proceedings, but the loan is only 1% of the current market value of my house!

 

I have never before defaulted on a secured loan and as such could do with some help and advice from my fellow caggers.

 

Can welcome actualy get possesion even though the charge is around 1% of the house value?

What about my mortgage company, wont they be ****ed?

What is the general process creditors take with a defaulted secured loan?

 

Thanks in advance...

 

W

 

 

 

 

Can welcome take possesion

Link to post
Share on other sites

Sorry I dont know much about secured loans but my understanding is welcome would be the second charge and therefore would need agreement from your mortgage company before they could take possession. I would imagine it highly unlikely that the mortgage company would be willing if you are up to date with them (no major arrears) especially if their second charge is of such small value. Hope someone with more knowledge will be along soon

I am a consumer just like you, please get a second opinion or investigate yourself on anything I advise as I am in no way legally trained. Everything I know has come from the Mighty CAG and fellow CAGGERS. :cool:

 

If I have helped in any way please click my reputation star and make a donation to CAG to enable us all to continue to help each other :cool:

Link to post
Share on other sites

Can you speak to the land registry and get them to tell you what sort of charge it is that they have registered on your property? They may not even be entitled to repossess, also as Beyond says, they will have to ask permission from the main mortgage company who will be paid off first and as Welcome are not flush with cash, may just be trying to call your bluff

Link to post
Share on other sites

Can you speak to the land registry and get them to tell you what sort of charge it is that they have registered on your property? They may not even be entitled to repossess, also as Beyond says, they will have to ask permission from the main mortgage company who will be paid off first and as Welcome are not flush with cash, may just be trying to call your bluff

 

Good idea Major thanks, have just paid £4 to see the title register and can confirm welcome have a charge registerd :-(

 

I saw a sticky about charges earlier so going off to read that now, see whats what.....

Link to post
Share on other sites

  • 2 weeks later...

Guys

 

We're now in a similar position with Salans getting aggresive on behalf of Welcome. They have demanded an I&E form be completed but as we have learnt from this site that can only be requested/demanded by a court.

 

An interesting fact is that when we took this loan out (in 2008)8) Welcome knew it would put us into negative equity, but they were confident the house prices would continue to rise!!!! Even our mortgage company contacted us to say they would agree to the second charge but we had to be aware that we were getting into negative equity.

 

My understanding, from others, is that SALANs are very very agressive.

Edited by DT&FE
spelling
Link to post
Share on other sites

Guys

 

We're now in a similar position with Salans getting aggresive on behalf of Welcome. They have demanded an I&E form be completed but as we have learnt from this site that can only be requested/demanded by a court.

 

An interesting fact is that when we took this loan out (in 2008)8) Welcome knew it would put us into negative equity, but they were confident the house prices would continue to rise!!!! Even our mortgage company contacted us to say they would agree to the second charge but we had to be aware that we were getting into negative equity.

 

My understanding, from others, is that SALANs are very very agressive.

 

 

Hi DT&FE and thanks for posting in my thread, I wasnt getting much of a responce so happy to see you here! I see you may have dealings with Salans aswell, do you know if they are welcomes in house lot as they are based in newcastle same as welcome I believe?

 

I ignored Salans initial strongly worded letter as I said I would and have recieved a second letter as a result a few days ago. This second letter has a much better tone to it, obviously they start by letting me know how disappointed they are at my failure to respond to them despite several attempts at contact lol.

They then go on to suggest that welcome wish to aviod enforcement proceedings (change of language here from first letter threatening possesion proceedings).

It seems welcome are willing to look at my individual circumstances with a view to a mutualy acceptable outcome.

 

Lucky me lol

 

So thats where im at with this lot and Im not worried in the slightest as I think they are trying it on, becasue as far as possesion goes I dont think they have a chance. This is due to the small amount of debt welcome have secured in relation to the mortgage value and equity remaining. I cant see my mortgage company allowing welcome to take possesion and so I think I might just let the council continue filing Salans letters....

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...