Stupid Welcome Customer

[emanevs]

and its dated in february 08?

 

whats the date of your signature, and whats the dates of theirs?

[lawrence147]

From post on my old thread

 

hi all

 

ive been asked to drop in

first this is a regulated agreement

 

i need you to confirm this

 

your monthly payments are £303.58

 

 

the interest will be £30,590.54

 

not £30257.46

 

now add acceptance fee £ 235 gives a total of £30825.54

stay with me on this

 

so the amount of credit will be £20411.10

interest will be £ 30590.54

 

thats a total of £51001.64

 

now add acceptance fee and interest to give the total charge for credit

£ 30825.54 not £30492.46

 

so the total payable to welcome will be £51236.64 not £51001.64

 

thats £235

they have added acceptance fee back into the agreement

 

now devide £51236.64 by 168 months gives a total of £304.98

 

_____________________________________________________________

 

its a legal contract with the rights that go with it

 

its for the protection of the borrower as well as the creditor

 

apr is mistated

they can not send out another ammended agreement without the agreement of the debtor

 

the interest on acceptance fee is wilson v fct

 

only applies if the acceptance fee has been included in the amount of credit

 

the agreement is unenforceable

 

the apr stated is incorect being a prescribed term

the biz on the calculations is no more than creative accounting to extend the loan when the borrower thinks has been compleated

 

seen it to often

 

makes a change for no mortage indemnity fee on a secured loan below 25 k

 

thats another con (creative accounting)

 

 

Agreement was signed on 18 Feb 08

 

Regards

[beyondhope]

sorry to hijack quick question to emanevs the visit letter states about english common law does that only apply to england?

[lawrence147]

No probs Hope - another question on my mind.

[lawrence147]

Emenevs - misread one of you questions.

 

Both Welcome and we signed the agreement on 18 Feb.

 

Hope this helps.

[ozzywizard]

This would be edited for Scotland.

 

Dear Sir or Madam,

 

Account Ref xxxx

 

Please be advised that I will only communicate with you in writing. I have noted your repeated attempts to contact me by telephone over the past few weeks/months and these have been duly logged by time and date.

 

Furthermore, should it be your intention to arrange a “doorstep call”, please be advised that under OFT rules, you can only visit me at my home if you make an appointment and I have no wish to make such an appointment with you.

 

 

There is only an implied license under Scots Common Law for people to be able to visit me on my property without express permission; the postman and people asking for directions etc. Therefore take note that I revoke license under Common Law for you, or your representatives, to visit me at my property and if you attempt to send such a collector to my home, you will also be reported for harassment and I shall seek damages for a delict of trespass. You would also be liable for conspiring in a delict of trespass by acting in defiance of my instructions and sending someone to visit me nevertheless. Should it be necessary, I will obtain an interdict from the Court to prevent you carrying out your threat.

 

Yours faithfully,

[beyondhope]

what about wales lol just change to welsh?

[ozzywizard]

Yeah and Liverpool change to scouse !!!! . . you were joking right lmaoo

[beyondhope]

**tries very hard not to laugh**

 

I duno what you mean of course I wasnt joking

 

:lol:

[ozzywizard]

As long as your next questin is not asking what letters do gurlies send as the ones wrote are for men . . .loll

[beyondhope]

hmmm now dont go putting silly ideas in my head

 

[lawrence147]

No probs guys - v. funny

[ozzywizard]

She not sorry really cause she is laughing, hehe. . . I am though Lawrence (serious face)

[emanevs]

lawrence - do you have your statement from the ****?

[lawrence147]

Ozzy - Don't lie

 

Emenevs - page 1 of this thread.

 

Lawrence

[emanevs]

POST 24 - YOU AND WELCOME SIGNED ON THE 18/2/08???

 

Did you sign it at their premises?

 

I would say apr is 16.8 based on a loan of £20,646.10 at £303 for 168 months.

Edited February 3, 2010 by emanevs
figures were wrong initially!! - soz!

[emanevs]

sorry welscum, looks like you just lost £20,646.10!!

 

ha,ha,

 

but im no expert!

[lawrence147]

That's you and post agreed with the misstated apr!!

 

Awesome:D:D

 

Am going to write the letter to put the agreement in dispute tomorrow and the harrassment letter is going as well.

 

See what they have to say on those!

 

Cheers Emanevs

[lawrence147]

POST 24 - YOU AND WELCOME SIGNED ON THE 18/2/08???

 

Did you sign it at their premises?

 

I would say apr is 16.8 based on a loan of £20,646.10 at £303 for 168 months.

 

 

What do difference is when we signed?

 

Yes we did sign at their (now defunct) office.

 

Lawrence

[emanevs]

AND OF COURSE, TOTAL AMOUNT OF CREDIT!!! would be wrong

 

HAPPY DAYS!!!!:D

 

Wen did you get paid the money after signing???

[lawrence147]

Soz can't type anymore

 

What difference does it make when we signed?

 

 

Lawrence

[lawrence147]

Seven days after we signed - cooling off period.

[lawrence147]

Was for a top up for £5k

[emanevs]

hav a little read of this:

 

Cancellation right

 

The Regulations give consumers the right to withdraw from financial services contracts entered into through distance selling.

If specified conditions are fulfilled the consumer has the right to cancel the contract within the cancellation period. This terminates the contract from the notice of termination being given.

 

Cancellation period

 

The cancellation period begins on the date of the conclusion of the contract and ends 14 days from that date. As discussed above the contract is concluded at the point at which the copy of the prior information is sent on paper or other durable medium, hence the commercial interest in sending the information as soon as possible.

In life insurance contracts the cancellation period runs from the date the consumer is informed that the contract has been concluded. The cancellation period in life insurance or personal pension contracts runs for 30 days instead of 14 days.

 

Method of cancellation

 

A cancellation notice is to be treated as properly given to the supplier where the consumer delivers, posts, faxes or e-mails it to the supplier. The consumer may also send the notice to an website which the supplier has indicated to the consumer may be used for that purpose.

Where the supplier has indicated to the consumer that cancellation notice may be given over the telephone this is also an acceptable method. However, it is worth noting that in a recent review of the Consumer Protection (Distance Selling) Regulations 2000 (which do not apply to financial services, but contain largely similar provisions) the DTI concluded that suppliers should not be required to accept cancellation notices by telephone, because of the evidential problems for smaller suppliers. It is likely that the financial services Regulations would follow this route if the same issue was raised.

 

Exceptions to right to cancel

 

There are certain circumstances where it is unreasonable to allow a consumer a right to cancel a distance contract. For example, in a contract for travel insurance a consumer could take out travel insurance, go on a week's holiday and return to cancel the insurance. This is clearly unfair.

Therefore a consumer has no right to cancel a distance contract:

 which relates to a financial service where the price depends on fluctuations in the financial markets which are out-with the control of the supplier; or

 which has been fully completed by both parties at the consumer's express request before the consumer gives notice of cancellation.

These are the main exceptions but there are other specific contracts that a consumer has no right to cancel, and it is always worth exploring to check whether specific products are excluded.

[lawrence147]

Had a VERY close look at the contract and it says this:

 

On the contract itself (page 1) under Key Information, below the charges table:

 

"You have no right to cancel this agreement under the Consumer credit Act 1974, the Timeshare Act 1992 or the Financial Services (Distance Marketing) Regulation 2004."

 

But in the other column still on Page 1, in the 3rd box up, and on page 2 second column 3rd box up it states:

 

"Under the Consumer Credit Act 1974, you should have been given a copy of this agreement at least seven days ago so you could consider whether you wanted to go ahead. If the creditor did not give you a copy of this agreement he can only enforce it with a court order."

 

We signed the contract at their offices and we were given seven days to cancel. After the seven days we were given the cheque but I would have to check with the bank as to when we put the cheque in.

 

Regardless, the contract says 7 days but doesn't the law state 14, as your last post?

 

What do you think?

 

Lawrence