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    • Hi Sweet and welcome to CAG   Are you willing to disclose the employer in this case ?
    • I was the manager of an off license. We reopened on mon 30th, I received a very large delivery which we weren’t expecting (and I wasn’t told about until 2hrs before by my line manager) all managers received a text from regional manager which stated when deliveries are coming in shops are to be closed. He didn’t ring this info in, I just read the text.   When I saw how big del was (completely covered the floor, could barely move around it) I kept my shutters closed and proceeded to pack delivery away. The store remained closed and we lost 5hrs trading time. I didn’t seek permission from manager to do this, with the current safety precautions enacted (only allowed 1 customer in at a time as manadated by HQ) I didn’t feel this could be safely achieved with 3 members of staff in and all the stock everywhere.  regional manger calls into shop at 4:50, hits roof that it’s closed and storms out of shop after exclaiming I didn’t have the authority to keep shop closed.   Fast forward 1 1/2 weeks later today regional manager comes in at 4pm with prepared questions, I answer truthfully stated I didn’t think it was safe I had the best interests of business at heart that I had turned up for work every day since this incident and nothing had been said. He said that they will examine this information and can come back for more evidence if needed.    He goes away again and at 5:59 (my shift finished at 6) he came back in saying they’d examined all the evidence and that their decision was dismissal, I was to gather my things and there’d be a letter in the post with information should I wish to appeal.  quite a shock.   I will see what this letter states as their reasons I committed gross misconduct, I am a bit at a loss as to what I specifically did to be deemed gross misconduct.   I’ve worked for them for 10years, taken 2 days off sick in that entire time and had a faultless record   I’m just flabbergasted they’d immediately sack me for something which happened in unprecedented times when all I was trying to do was keep myself and my staff safe and safely make their store presentable and adequately accessible for all.   Any thoughts on the above? Obviously this is all too fresh as it happened only hours ago 
    • Hi KL1 and welcome to CAG.   You say the buyer contacted you saying, "...... he had seen it cheaper somewhere else and wanted to cancel the sale."   Do you have this in writing and, if so, in what format ?   It would be useful if you could tell us more about the item you sold.    
    • I wanted to report a success against UKPS that started in Dec 2018 and was concluded today.  I did do a bit of reading through this site for guidance though so thanks for that!    in Dec 2018 a family member reversed onto a private road in Coventry and waited about 1 minute or so to collect their partner.  Meanwhile the owner was loitering and waiting to catch anyone on his land with photos.  2 photos were taken about 40 seconds apart.   With my help I disputed the charge stating that the driver had not "parked" but had only stopped momentarily to pick up a passenger.  I did not state at any point who the driver was.   UKPS from Leamington Spa were trying to enforce this and insisted on the charge of £60 + £100 being paid.  I sent a 2nd letter confirming the position of the 1st letter and that no further letters would be sent.   4 threatening letters were sent from Debt Recovery Plus and Zenith Collections and duly ignored.  The last kindly offered to settle for £136!    Then a letter from Gladstones Sols threatening the same was also sent, and mentioned Beavis vs Parking Eye.  This was also duly ignored.   Finally a Letter Before Action was sent by email.  Aha!  Game on.  They cited Vehicle Control Services Ltd v Nick Idle and Vehicle Control Services Limited v Damen Ward and that stopping for any time is a breach, and it was only the length of time stopped that may affect the value of the breach.   I said that signage said no PARKING, not no STOPPING and that appropriate case law was JOPSON v HOMEGUARD where the judge specifically said "Merely to stop a vehicle cannot be to park it"   They then came back at me with an evidence bundle they were allegedly going to use at court against me, stated the signage was clear,  a nd repeated their "no stopping" case   I came back at them with the same as before and added that, in their world, someone coming onto the land and wanting to read the signage would have precisely NO TIME AT ALL to so as, according to them, even stopping for mere seconds was a breach.  I also threatened that I would claim costs for my wasted time in dealing the case.   Today they emailed me as follows: ---------------------------------------------------------------------------------------------------- Good Morning,   Thank you for your correspondence. We apologise for the delay in our response, however as no further action has taken place we trust you agree no prejudice has been suffered.   Please note that our Client has cancelled our instruction on this matter and the matter is considered closed.   No further action is warranted. Kind Regards ----------------------------------------------------------------------------------------------------   16 months on and UKPS gave in  
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hybrid77

How on earth do Welcome calculate their interest

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just a thought if the ones you thought were wrong are right,perhaps the ones that were thought right are now wrong?

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I think I will anyway.

 

14% interest rate is 1.66666667 per month.

 

1.6666667 x amount outstanding = interest (as stated on the agreement)

 

repayment is 419.47 per month.

 

Do the math.

 

It just doesnt work out.

 

The dualcalc is not available now.......

 

wonder why........??

 

perhaps is WRONG?

 

It also does not detail the repayment of a loan in full with either.

 

It just spurts out a few figures.....

 

Welcome are now also saying that my interest rate is 13.20 and "total amount of credit is 27985.

 

I didnt sign for that - BUT NOW I AM REPAYING THAT??????????

 

WHAT A JOKE

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Em

 

I am in exactly the same boat as you and understand your frustration. I too was led to believe the figures were wrong.

I wish I had been told correct info back then. I am glad I didn't take them to court. Ask yourself how many agreements have you seen that have declared unenforceable on hear I have yet to come across one.

 

 

If u can help u I will certainly try welcome aren't as daft as they look and they seem to have an answer for everything


As always please check and double check what myself and other Caggers inform.

 

If you like my Post please dont be shy give my Scales a little tickle :-)

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just a thought if the ones you thought were wrong are right,perhaps the ones that were thought right are now wrong?

 

It certainly makes you wonder


As always please check and double check what myself and other Caggers inform.

 

If you like my Post please dont be shy give my Scales a little tickle :-)

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When Is This Back In Court

 

Any Variance In The Apr By 1% Will Render The Agreement Unenforceable

 

So if they have 'varied' my interest rate by more than 0.1% even though they refer to a variable interest rate its unenforceable?

 

CAN YOU GIVE A LINK TO THE AGREEMENT PLEASE

 

any thoughts?

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But yours is within the allowed tolerance.


As always please check and double check what myself and other Caggers inform.

 

If you like my Post please dont be shy give my Scales a little tickle :-)

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13.2 as opposed to 14?

 

thats 0.8%?

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see Consumer Credit Agreement (Regs) 1983 - page 37 of 50, Permissible tolerances in disclosure of APR (1A) (2).

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Emm, at work so I can't really spend time on here but I'll be on tonight.


As always please check and double check what myself and other Caggers inform.

 

If you like my Post please dont be shy give my Scales a little tickle :-)

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OK

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hello guests!

 

can you work out this?

 

ha,ha,

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Hellow emaneves:)

 

my agreement it says 17.75APR (march 07)

 

ON Statement, received march 09(1st one) my AIR:confused: IS 16.20:rolleyes:

 

This is a difference of 1.55:rolleyes: "get my drift".

 

also this is a fixed sum loan agreement regulated by the cca 1974.

 

so 17.75(original agreement),then 16.20 (statement 2 years later:rolleyes:)

 

its totally confusing/illogical "nuts" . chin up emaneves:)

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absolutely!!!

;)

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im even more confused!!!!!!

 

what about:

 

1) My calculations?

2) Total amount of credit wrong?

3) Changes in interest rates from my loan agreement to statement

4) How do I pay all of this loan off within 121 months.

 

 

Should I still see my accountant??

emanevs

 

1) as I said, you cannot work out APR using a spreadsheet - you need more computing power than that. Try dualcalc

 

2) do you mean total amount of credit or total cost of credit? Total cost of credit is (monthly repayment)*(number of payments) + fees - (loan amount)

 

3) As I said, this is irrelevant

 

4) you pay the monthly amount 121 times

 

Hope this helps


Steven

 

Using CAG Toolbar will generate much needed income - Download Here

 

Confused by Simple Interest? Confounded by Compound Interest? Read my Interest Tutorial

My Wins

 GE Money Won unconditionally May 2007

NatWest Won unconditionally August 2007

Brighthouse Won unconditionally August 2007

Goldfish Won unconditionally April 2008 (including CI on the basis of Sempra)

Clydesdale Financial Services (now BPF) Won unconditionally February 2008

 

Any opinions are without prejudice & without liability. Do not take any legal action on my advice alone. Almost everything I know concerning the law I learned from this site.

 

Please note, I will not give advice by PM. Please send a link to your thread and I will do my best to answer there.

 

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Hellow emaneves:)

 

my agreement it says 17.75APR (march 07)

 

ON Statement, received march 09(1st one) my AIR:confused: IS 16.20:rolleyes:

 

This is a difference of 1.55:rolleyes: "get my drift".

 

also this is a fixed sum loan agreement regulated by the cca 1974.

 

so 17.75(original agreement),then 16.20 (statement 2 years later:rolleyes:)

 

its totally confusing/illogical "nuts" . chin up emaneves:)

APR and AIR are not the same thing. In fact they will never be the same. APR will always be bigger than AIR

 

If you take your monthly interest rate, call that 'x'

 

AIR = 12*x

APR = (1+x)^12 - 1

 

(^ means to the power of)

 

If there are fees, the APR calculation is even more complicated. The complete formula for calculating APR is given in http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft144.pdf

Edited by steven4064

Steven

 

Using CAG Toolbar will generate much needed income - Download Here

 

Confused by Simple Interest? Confounded by Compound Interest? Read my Interest Tutorial

My Wins

 GE Money Won unconditionally May 2007

NatWest Won unconditionally August 2007

Brighthouse Won unconditionally August 2007

Goldfish Won unconditionally April 2008 (including CI on the basis of Sempra)

Clydesdale Financial Services (now BPF) Won unconditionally February 2008

 

Any opinions are without prejudice & without liability. Do not take any legal action on my advice alone. Almost everything I know concerning the law I learned from this site.

 

Please note, I will not give advice by PM. Please send a link to your thread and I will do my best to answer there.

 

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emanevs

 

1) as I said, you cannot work out APR using a spreadsheet - you need more computing power than that. Try dualcalc - I have but it doesnt show the full repayment of the loan in full.

 

2) do you mean total amount of credit or total cost of credit? Total cost of credit is (monthly repayment)*(number of payments) + fees - (loan amount)

 

"total amount of credit" on loan agreement is 25000

"total amount of credit" on annual statement is 27985

 

"rate of interest per annum" on the loan agreement is 14%

"annual interest rate" on the statement is 13.20%

 

3) As I said, this is irrelevant - ????

 

4) you pay the monthly amount 121 times - yes, but at what interest rate and how much in total. I signed up for the loan agremeent as set out by the consumer credit act 1974, not a "flexible loan, with flexible repayment and interest rates, to be paid off when the **** choose to say its completed.

 

Hope this helps

 

APR and AIR are not the same thing. In fact they will never be the same. APR will always be bigger than AIR

 

If you take your monthly interestlink3.gif rate, call that 'x'

 

AIR = 12*x (based on 14% (rate of interest per annum) this is 1.66666667 per month.

APR = (1+x)^12 - 1 - (please can you explain ^)

 

I also attach all of my calculations. NONE OF THEM WORK. (See attached 'A', 'B' ,'C', 'D')

 

Please upload your full calculations, demonstrating that I am incorrect.

 

Many thanks,

A.pdf

B.pdf

C.pdf

D.pdf

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Just refering to the reverse of the loan agreement Terms and Conditions.

Defenitions

Rate of Interest- means the Rate of Interest specified overleaf

How can they then use a lower rate as quoted on the statement

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exactly....

 

Can you upload your t and c's?

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Is it the same on yours

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if you upload it i will check then

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with APR being 17.75 at start of agreement, how after 2 years can they just change this to 16.20(AIR):eek: on statement:eek:

 

this AIR just seems to appear "out of the blue".(how can this be?)

 

by the way emaneves on my agreement i have different "total amounts of credit" on , agreement,statements 1 and 2:eek:.

 

"Absolutely crazy"(you could not make it up:rolleyes:)

 

keep going:)

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hellow steven4064.:)

 

i realise that APR and AIR are different,but how can apr be on your agreement at the beginning,and air put on, added,changed (whenever welcome feel like it:confused:),remember its a "fixed sum loan agreement".

 

could you please clarify(help/advise)"thank you":)

 

also - NO mention of AIR in terms and conditions..

 

also- When was AIR ever put in/on welcome agreements?

 

cheers:)

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Emanevs

 

I know how frustrated you are i was exactly the same. I then started to read the OFT publication on APR bit long winded but it then made look at the annual interest rate which is different to the apr, but then you have the interest rate too. Steven is right in what he is saying.

 

Your APR is 17.30 % this is a compounded rate that also includes the charge for credit.

 

The 14% stated on your agreement is the annual rate which also includes the effect of compounding.

 

The AIR is your annual interest rate which is your monthly amount x 12, this is because welcome charge interest on a monthly flat rate which is calculated on the outstanding balance. Which in your case appears to be 13.20.

 

The PDFS that you uploaded what programme hav used to generate these please?

 

25000 +235 +27500 = 27985.00

 

(121 months * 13.20) 22770.87

 

Loan Repayment Calculator

50755.87 / 121= 419.47

 

I hope this helps.


As always please check and double check what myself and other Caggers inform.

 

If you like my Post please dont be shy give my Scales a little tickle :-)

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Hello Bebo,

 

.......but I didnt sign the loan agreement based on 13.20% interest rate, and "total amount of credit" of £27985......

 

they are clearly not allowed to vary the APR or any interest rate in this way.

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Hiya Ems,

 

I know you didnt, you did sign up to 14% interest rate. This is the annual flat rate which included the effect of compoundind. By that i mean interest charged on interest. 13.2 is the AIR of the annual flat rate on your agreement.

 

Go on the following link and put in your interest rate of 14 %, select yearly to monthly and it give you your monthly rate. times this by 12 gives you 13.2%

 

Interest Rates Guide: Everything you ever wanted to know!...


As always please check and double check what myself and other Caggers inform.

 

If you like my Post please dont be shy give my Scales a little tickle :-)

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style="text-align:center;"> Please note that this topic has not had any new posts for the last 3009 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.

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