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Subbbbbbbbing


I need to change my avatar..But cant find a good replacement.

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The 18K outstanding is inclusive of interest original loan was £15k. Initially on the correspondence received from Salens they`ve indicated a full & final repayment figure & they have asked about repayment proposals. As stated initially Im gonna explore the full & final repayment option. In terms of repo which frankly is a bit strong & scare mongering nothing can happen with out a court order and in that scenario likely outcome would probably be a charging order on the property.

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The 18K outstanding is inclusive of interest original loan was £15k. Initially on the correspondence received from Salens they`ve indicated a full & final repayment figure & they have asked about repayment proposals. As stated initially Im gonna explore the full & final repayment option. In terms of repo which frankly is a bit strong & scare mongering nothing can happen with out a court order and in that scenario likely outcome would probably be a charging order on the property.

This will depend how much equity you have. If for example you are in negative equity or your 1st charge mortgage leaves Welcome precious little left, this could also be used as a tool to whittle down that F&F figure. Thye do need cash now and should you get repo'd by the 1st charge lender, they could end up with nothing at all and lose their 'security' thus putting them in a worse position.

 

Btw, do you have a 1st charge lender and what level of charge does Welcome hold?


The matrix is intrinsically flawed. Within it is the program for it's own destruction. If you are reading this, you are in the matrix and it's days are numbered...so watch out! :eek:

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Yes I do have a first charge lender. Welcome is a 2nd charge on property for £15k. Frankly I find this all very disturbing & I don`t intend by any stretch to let it get to the extreme of repossession Ive worked my backside off all my life and I aint going down with out an almighty fight you can rest assured of that as can all the `Welcome Guests` having a sniff & nose around on here.

My mortgage is fully up to date.

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Billy Goat - We tried that and were told that they cannot tell us or suggest an offer so we offered £500 they then go away come back the next day and say no so we upped it daily by £50 eventually they settled for substantially less than the amount owed (we paid around 40%) I think it was because they were sick of me calling them with an extra £50 offer

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Hi everyone, I haven't posted on here for a while but just thought I'd do an update + find out what's been going on with you guys!! Last time I posted things had heated up with Welcome and I had successfully managed to wind them up enough to get some action from them but it fizzled out as fast as it happened.

To date they have my credit file entry for Welcome still on there (£3575.00) and refuse to take it off until I pay them despite the fact they have not done anything that they were instructed by the Financial Ombudsman Service & bearing in mind they have had the loan + interest already paid and this amount is the PPI + interest on interest (ficticious amount!!) such LOSERS!!

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You could look at s14 Data Protection Act 1998


Steven

 

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Hi guys,

 

I'm new to the forum but not new to Welcome Finance. As an ex employee I have a bit knowledge on the ins and outs of the place. I worked in head office and was not made redundant I left of my own accord.

 

First things first, stop moaning about their interest rates. They lend to people who have bad credit ratings, this is of course on a bigger risk than someone with a top notch credit rating and you pay for them to take on that risk.

 

However, I do agree that some things including re-writing loan agreements have been done in ways that are very questionable and therefore can make a bad situation worse.

 

I can't remember all the exact figures but they will give discounts off settlement figures depending on how far in arrears your account is and when you last made a payment.

e.g. You are in arrears by £500 but these were from years ago and you now pay every month you are less likely to get a discount (or the discount will not be as big) as someone who is also in arrears by £500 but can't afford to (or won't) pay now.

 

When a settlement is reduced it goes on your credit file as a write off of whatever %, this may have a detrimental effect on your credit file.

 

If you have VT'd, VS'd or had your car repo'd they will consider discounts of around 50%. Many people think when they VT they will have nothing to pay, this is only if you have paid 1/2 the cost of the loan (not including insurance)

If your car is repo'd they will sell it at auction and deduct the price they got for it and add repo fees. Please be aware they do try and get as much as possible for the cars (for their own sake not yours) but I have seen cars sold for £15 and the account have fees of £100+

 

If you make ridiculous offers for a short settlement they will not help you in any way (eg 1p for every £1 outstanding, which believe me people try) However if your offer is reasonable they may consider it or come back with a counter offer. I had people offering £1000 when the min we would have accepted was £1200 but if that person had come with an offer of anything less than £800 it would have been left with a no.

 

Mis-sale of PPI was another favorite in the office. If it was genuinely mis sold then fair enough go do what you have to do to get your money back but there were times people would write in with a letter of this effect

Dear Sir/Madam

I was mis sold my PPI and this is why:

I did not know I had PPI on the agreement

I was told I had to take out PPI or I could not have the loan.

Please refund my PPI plus interest

 

Yours

Some Random Customer

 

If you use a letter template please make sure you delete things that aren't appropriate as this case was thrown out as soon as it was seen for this huge contradiction.

 

If you want any help or advice from the inside let me know and I'll be sure to do what I can.

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urm..............

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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If you want any help or advice from the inside let me know and I'll be sure to do what I can.

I'd like to know something from 'the inside'. When a customer files a claim against welcome why don't the Legal Compliance Dept. respond to the court's directions within the time limits set by the court?? Also, when a customer alleges that welcome have broken the law why do welcome respond with an admission of the offence as a defence and proceed to deny the law? Is it some kind of joke??


“First they ignore you, then they laugh at you, then they fight you, then you win.” - Ghandi

"You must have the resources to deal with the judicial intervention - the confidence not to be overawed, the resilience to respond, the tenacity to challenge, the tact to mollify, the authority to inform and persuade."

 

Strength does not come from winning. Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength.

 

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You'll find alot of welcome staff became very conditioned to people threatening court papers, this is NO excuse on what happens in that building but there are threats in all companies - I'll take you to court, I'll go to the FOS I've been told by someone in the compliance dept there are fake court papers sent in so sometimes the real ones can be ignored. A personal favorite of mine was a letter from the " On Board Man" It had always been of my understanding if you were going to forge a letter from them you'd find out how to spell ombudsman. But yes, when someone presents actual court papers they tend to S*** themselves and don't quite know what to do with it. There is no excuse for their lack of dealing with that in the appropriate way.

 

I'd like to know something from 'the inside'. When a customer files a claim against welcome why don't the Legal Compliance Dept. respond to the court's directions within the time limits set by the court?? Also, when a customer alleges that welcome have broken the law why do welcome respond with an admission of the offence as a defence and proceed to deny the law? Is it some kind of joke??

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You'll find alot of welcome staff became very conditioned to people threatening court papers, this is NO excuse on what happens in that building but there are threats in all companies - I'll take you to court, I'll go to the FOS I've been told by someone in the compliance dept there are fake court papers sent in so sometimes the real ones can be ignored. A personal favorite of mine was a letter from the " On Board Man" It had always been of my understanding if you were going to forge a letter from them you'd find out how to spell ombudsman. But yes, when someone presents actual court papers they tend to S*** themselves and don't quite know what to do with it. There is no excuse for their lack of dealing with that in the appropriate way.

Well that's a good as reason as any! It has amused me a great deal to think of Mr P with his pants padded free-happy-smileys-819.gif


“First they ignore you, then they laugh at you, then they fight you, then you win.” - Ghandi

"You must have the resources to deal with the judicial intervention - the confidence not to be overawed, the resilience to respond, the tenacity to challenge, the tact to mollify, the authority to inform and persuade."

 

Strength does not come from winning. Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength.

 

<-- If I have helped in any way please click my star!! ;)

Oh and I am a lady!! :)

 

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Well that's a good as reason as any! It has amused me a great deal to think of Mr P with his pants padded free-happy-smileys-819.gif

 

Me also :lol:


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:

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Hi Helen89

You have mentioned a couple of interesting things. Could you pliz clarify the what elemet of ppi I can claim. I mean when I original got my car loan 260504 I had a combined total insurance of £4236.96(2648.19+1588.77). 1588.77 being the finance charge. I paid a monthly payment of 232.61(144.34(monthly hire purchase) + 88.27 for insurance. the insurance was bundled together to include Mechanical Breakdown, Emergency, shortfall, collision call and PPI. I must admit i was naive at the time I was made to sign the agreement because I did not need all these. My question is: I am considering making a claim for mis-sold PPI , can I claim the other elements as well. At the time I signed the agreement, the salesman made me to understand that I could not have the loan for the car without these. Any thoughts about this

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yes you can and don't be fobbed off by people that are p'haps here for 'other' reasons.

 

they have done exactly what they setout to do and thats add an element of 'doubt' in the proceedings

pers i think the posts should be removed.

 

if you paid £88.27 PCM for all the insurances then you entitled to those charges back + 8% stat int from the date of EVERY month you PAID each 88.27 to the date of your claim

 

use

http://www.egalegal.com/compoundWindow.html

 

rests = 12 compounded monthy.

 

go get 'em!

 

there are many threads on here detailing the process and also many threads where the fos have made welcome cough.

 

do not be put off by another round of misleading posts from those that are not here for the purpose of CAG - reclaiming the right to YOUR money, but for other reasons.....

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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You are well within your rights to claim back on all the insurances but I would make it clear in any letters that you send that is your intention. All insurance can be mis sold not just PPI. From what I've seen in the past you may find it a little harder to claim back than just the PPI but make sure you push for it.

I was never involved with the sale of HP agreements but from the amount of people that DO complain about mis sold insurance I would say you do certainly have a case.

 

Hi Helen89

You have mentioned a couple of interesting things. Could you pliz clarify the what elemet of ppi I can claim. I mean when I original got my car loan 260504 I had a combined total insurance of £4236.96(2648.19+1588.77). 1588.77 being the finance charge. I paid a monthly payment of 232.61(144.34(monthly hire purchase) + 88.27 for insurance. the insurance was bundled together to include Mechanical Breakdown, Emergency, shortfall, collision call and PPI. I must admit i was naive at the time I was made to sign the agreement because I did not need all these. My question is: I am considering making a claim for mis-sold PPI , can I claim the other elements as well. At the time I signed the agreement, the salesman made me to understand that I could not have the loan for the car without these. Any thoughts about this

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yes you can and don't be fobbed off by people that are p'haps here for 'other' reasons.

 

they have done exactly what they setout to do and thats add an element of 'doubt' in the proceedings

 

 

 

My thoughts exactly dx.........

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this thread is now being closed

 

if you have a running query within it

 

please start a new thread and ask for your posts to be moved over to it

 

dx

siteteam


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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style="text-align:center;"> Please note that this topic has not had any new posts for the last 3255 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you
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