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Welcome Finance charging 51.11% APR!!!


batty_uk
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£2000 loan in 2007

£704.71 insurances (which they said i had to have!)

over 2 years Payments of £173.10 each month.

 

however I had major personal and financial problems a year later and after they harrased me by phone and letter I ent to local office and signed new contract which allows me to pay £56 monthly...........I dont have a copy of this.

 

 

I am sending a letter requesting all statements etc as I have never received one since taking out this loan.

 

Then what do I do?

 

I cant believe how much interest I am paying!

They prey on people in extreeme circumstances and can find no other way! Well I am back on my feet (emotionally that is) :-) and ready for a fight.

make the most of today because tomorrow you can't go back ;)

Batty_uk

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I am back on my feet (emotionally that is) :-) and ready for a fight.

 

Thats the attitude to have, lets take this all the way then ....

 

First the figures you quoted from the first loan, do you still have this loan agreement, if so post it up for us to see minus your personnel details.

 

Second send off a CCA request for your current copy of agreement so we can check that.

 

third send off a SAR so you can get the ball rolling on your claim for the return of your PPI.

 

 

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Yes I have the agreement ... how do I post it on here?

 

oh I think I've worked it out! :-) will give it a go

Edited by batty_uk

make the most of today because tomorrow you can't go back ;)

Batty_uk

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Thats the attitude to have, lets take this all the way then ....

 

First the figures you quoted from the first loan, do you still have this loan agreement, if so post it up for us to see minus your personnel details.

 

Second send off a CCA request for your current copy of agreement so we can check that.

 

third send off a SAR so you can get the ball rolling on your claim for the return of your PPI.

 

Let me know if it doesnt work or u can read it :-)

 

SAR printed and ready to post :-)

 

 

Hope this works as attachment :-)

WF.doc

make the most of today because tomorrow you can't go back ;)

Batty_uk

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Batty im at work till late-ish tonight but will check your agreement over when I get home so should have some figures for you tomorrow morning.

 

 

thank you!

make the most of today because tomorrow you can't go back ;)

Batty_uk

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Ok Batty, lets check your agreement.

 

Your loan is £2000 over 24 months at 55.77% apr

 

thats a monthly repayment of £128.00

interest £1,072.07

total payable £3,072.07

 

Insurance

 

Insurance £704.71 over 24 months at 55.77 % apr

 

interest £377.75

monthly payment £45.10

total payable £1,082.46

 

total interest is £1449.82 plus loan of 2000 is 3449.82 plus insurance is total amount repayable 4154.53 divide by 24 to give a monthly figure of £173.11

 

 

 

This is the first one I have actually got correct to welcomes figures so welcome has done your agreement correctly. Seriously first one I did, they rounded their decimals down to .10 I did mine up to .11 as the closest denominator were they went to the lowest denominator but all the same as within 0.1 % scope.

 

 

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Yes, only if you feel it was missold you can defo claim it back. claim for 704.71 plus amount of months you have paid x £15.74 which is your monthly insurance interest. Then you can add 8% stat interest if you choose too.

 

Thank you so much for your help

make the most of today because tomorrow you can't go back ;)

Batty_uk

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