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    • You're like, super helpful and unhelpful at the same time lol.   What do I search for, I searched form 4, and nothing, I searched claiming compensation and nothing about this.   I can't find the top squares logo.   Can you post a link or tell me what to search.   Sorry if I'm slow.
    • use our custom google search box  click our top squares logo it should appear on that page   dx
    • Apologies, I haven't used a forum for years!!   I defo wish to keep the 2 issues separate, sorry!   My only issue I need help with is the increased compo for marstons - if possible.   I don't know anything about claiming compo etc. (I only recently found out one of the NHS biggest costs are NDA payouts)   I don't know what form 4 is; so far, they've offered £250 and I haven't accepted or denied it.   So yeah, can you forward me to some more info?   Also, usually I'm good at google etc. but I can't find many stories on this stuff, regarding PCN/TFL etc.   Thanks again!
    • ok things are getting clearer...   I've merged 2 of your posts for clarity and removed the swearing, (behave please) I've also taken down the two images you posted should you wish to post things up please use PDF so we can zoom easily and don't forget to redect them read upload carefully.   I think you need to continue to keep the two thing sep. those being increased compo for marstons- if possible ( if you are raising a form 4? complaint through the court - it might be better you don't? - they are very hard to justify and can be costly - so the fact it might not be moving forward could be a good thing, but listen to others here too) and the issue of the PCN wasn't justified - which you need to further expand on please.   the more info you post up the better please but please use multipage PDF files only and carefully redact them    
    • Thanks for trying btw! It's kinda in 2 parts.   1 is that the PCN wasn't justified in the first place and I wasn't aware it had escalated. I received the initial fine from TFL which I challenged and heard nothing back from (for 5 months). Then another letter from a separate PCN which made me email TFL to inquire what was going on but again, heard nothing back.   (BTW I can see how confusing this is so thanks again for trying)   So, I had no idea my car was at the risk of being taken - that's the first part.   No 2. is:   I got a phone call saying my car was on the back of a truck round the corner from mine (they hadn't left any notices or anything, and the car was parked directly outside my house). My friend said they were attaching the straps and securing it to the van (so I think they got it on the back of the van and moved it before securing it).   When I ran round the corner I saw the EA's van. I went upto it and asked what was going on. He was rude and told me to go away. Then after I kept knocking he got out the van and was aggressive and refused to ID himself or tell me why he had my car.   He shouted at me, was rude and unprofessional, he then left with my car. I complained to Marstons and asked for the bodycam footage.   They gave me the footage but it was clearly edited and cut short (because in the beginning of the footage he was the most aggressive).   They then told me he wasn't required to have the camera turned on when he's in the van, only when he's 'actively pursuing a warrant' and I was only allowed the footage I was in. (which is 2 different things) So I asked them to clarify which is true.   Anyway, I reviewed the footage and sent in my complaint (talking about what happened in the footage) They replied and said they watched the footage and disagreed with everything I said.   So I wrote a more in depth response with the CIVEA code to reference + the TFL EA guide etc.    Then they asked for more time, called me and finally apologised and admitted he had acted untoward and was in the wrong.   They then offered me the goodwill payment.   This has taken up weeks of my time, caused me serious trauma and PTSD and even after I complained WITH video evidence, they still initially denied it which means they officially lied, on record, while representing TFL.   I told TFL what was happening they said I had to continue with Marstons etc.   £250 goodwill isn't enough, the car cost £800 to get out, the suspension is messed up and I'd like to claim compensation for everything.   I don't know if that makes me sound like i'm money grabbing or whatever but they shouldn't be allowed to get away with it.   The police had to come before they could call an ambulance cause I was having a panic attack and it was a HORRIBLE experience.    So any help would be great please    I have the whole file from Resolver in a ZIP file but it's a lot of writing and I think you've read enough of my writing to last a life time!   I did a statutory declaration of OOT, got it signed by the court etc. but it was rejected.   I then tried to take them to court but it cost £250 I think which I don't have. You can get it for free if your low income but they wanted bank statements that I couldn't get. They're waiting for me to reply with documents to get a free court date.    did you receive any of the pcn's - was that why you appealed? - Yes, sorry!   unless it's trying secure a greater level of compo from marstons? - Yes, sorry!   For the record I just saw this pop up, read it and now feel much less guilty about my enquiry!
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hybrid77

How on earth do Welcome calculate their interest

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hallelujah! Bebo finally gets a straight answer!! - Sorry beyondhope can you explain??

 

Its very easy to think you have cracked how the agreements are calculated and that they are off but as fos also showed me this isnt always the case and a feeling of being lead down the garden path soon kicks in!

 

for arguement for people reading what exactly are the 'prescribed' and 'required' terms for newbies reading?

 

many thanks!:)

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many thanks!:)

This post here:

 

 

Here is the response that welcome supplied the foslink3.gif, This explains in black and white what Ive already told you. at the end of the day its down to you which route you take your case. I would however advise you to look at the letter I recieved this is the facts on how welcome work agreements out also make you fully understand what myself and Steven are telling you. I think failing this an Accountant will be able to explain how you agreement is worked out.

I will again say how frustrated I was when I recieved this letter because I honestly believe it isnt clear enough for a lay person to understand and it has took me a while to grasp. I wish you the best of luck with your case.

 

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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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CONSUMER CREDIT (AGREEMENTS) REGS 1983:

 

Schedule 1 is headed “INFORMATION TO BE CONTAINED IN DOCUMENTS EMBODYING REGULATED CONSUMER CREDIT AGREEMENTS OTHER THAN MODIFYING AGREEMENTS”.

 

(PAGE 35 OF 50) Schedule 6 is headed “PRESCRIBED TERMS FOR THE PURPOSES OF SECTIONS 61(1)(A) AND127(3)OF THE CONSUMER CREDIT ACT 1974”

 

a court shall not make an enforcement order (i.e. a consumer credit or hire agreement will be automatically unenforceable) where

 

 

a prescribed requirements in relation to the execution of regulated agreements

(set out in section 61(1)(a) of the 1974 Act) were not complied with or a

document containing all the prescribed terms of the agreement was not signed by the debtor or hirer;

 

Schedule 6 that sets out the Prescribed Terms for the purposes of s61(1)(a) – the heading makes this very plain. An omission or misstatement of a Prescribed Term set out in this Schedule 6 will render an agreement automatically unenforceable. This was the position in Wilson where ‘the amount of the credit’ was incorrectly stated.

 

AMOUNT OF CREDIT

RATE OF INTEREST

 

How to discharge your obligations:

eg:

NUMBER OF REPAYMENTS

AMOUNT OF REPAYMENTS

FREQUENCY AND TIMING OF PAYMENTS

DATES OF REPAYMENTS

 

 

Schedule 1 does NOT set out Prescribed Terms for the purposes of s61(1)(a) and so an omission of any provision in Schedule 1 will NOT render the agreement automatically unenforceable.

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This post here:

 

 

Here is the response that welcome supplied the foslink3.gif, This explains in black and white what Ive already told you. at the end of the day its down to you which route you take your case. I would however advise you to look at the letter I recieved this is the facts on how welcome work agreements out also make you fully understand what myself and Steven are telling you. I think failing this an Accountant will be able to explain how you agreement is worked out.

I will again say how frustrated I was when I recieved this letter because I honestly believe it isnt clear enough for a lay person to understand and it has took me a while to grasp. I wish you the best of luck with your case.

 

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It still does not change the fact that they did not state that interest is charged on the mortgage indemnity fee.

 

The FOS "APR is a compounded rate that includes the charge for creidt (acceptance fee and MIF) as interest"

 

NOWHERE ON THE AGREEMENT DOES IT STATE THAT INTEREST IS TO BE CHARGED ON MIF.

 

A CLEAR MIS STATMENT OF INTEREST.

 

Unenforceable.....

Edited by emanevs

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bumpy bump!!!!

 

:D:D

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As I understand it there are 2 different distinct types of Fixed Sum Credit and what it appears to me is that welcome have combined what they want from the 2. Type 1 Having given people essentially what are personal loans on the agreements it specifies the amount of repayments and intervals between repayments whch is under paragraph 9(a) of schedule 1 CCAR 1983. This is then qualified in Schedule 6 (prescribed terms) para 5. As I read it having specified the amounts and intervals of the repayments and the charge for credit it is a fixed agreement and should also state the total amount payable as per para 11 of schedule 1.

Type 2 This is under paragraph 10 of schedule 1 CCAR 1983 and qualified under para 4 Schedule 6. Type 2 is more akin to running account credit or a credit card agreement where you are charged a monthly interest rate. As I see it what welcome do is people having a Type 1 agreement have interest applied on a monthly basis as if it were Type 2. I cannot find anywhere any legislation that allows welcome to combine the 2.

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The way interest is calculated on a welcome finance loan is very confusing, especially the way it is shown on a statement, interest is charged seperately on the actual loan and on the defualt sums (charges)

 

Compound Interest - the interest charge on the bulk of the loan

Example

I have a loan of £500, this month my interest is charged at £5 and I do not make a payment then next months interest will be charged on £505. Compound interest allows you to charge interest on interest.

 

Simple Interest - Charged on the defualt sums

example

I have not made my payments and have charges on my loan of £100. This month the interest is £1 and I do not pay anything off my charges. Next months interest will be charged on £100. Simple interest only charges on the initial amount and does not charge on interest that has been applied.

 

The interest is applied at the same rate over both the loan & the charges.

When a statement is sent it shows the total balance, the loan and the default sums and does not break this down therefore over complicating matters as it is not clear when simple interest is applied and when compound interest is applied.

 

If you have any queries over the interest applied the the main part of your loan or the defualt sums or want a breakdown I recommend calling your local office, or Nottingham Central Collections and asking them to explain this to you. As far as I am aware and it was certainly the case back when I did work there that we were unable to produce a statement that was broken down but the information is there for the agent to discuss with you.

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just a cleaver way of hiding secret commission.

 

pers i would advise anyone not to call welcome but to get the info in black and white only

 

there are 1000's of threads on here detailing successful claims & the way it was done.

 

why have we never heard this stuff before ...... smokescreen to confuse and further derail members from reclaiming what is justly theirs that welcome have fleeced from them.

 

 

 

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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My post was to explain how the interest is shown on the statement and how it is calculated I don't doubt you've never heard it before and even if you have you probably didn't listen but take it from someone who knows yeah?

 

Also I would like to know how applying interest is a way of hiding secrect commission and what evidence you have for this?

 

just a cleaver way of hiding secret commission.

 

pers i would advise anyone not to call welcome but to get the info in black and white only

 

there are 1000's of threads on here detailing successful claims & the way it was done.

 

why have we never heard this stuff before ...... smokescreen to confuse and further derail members from reclaiming what is justly theirs that welcome have fleeced from them.

 

 

 

dx

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I agree with DX to get explanations in writing as too much can be misinterpreted in verbal communication

 

although i dont know what interest calculations have to do with secret commission which I know exist and there is plenty of evidence with members here


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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please start you OWN threads

 

stickie closed


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 3008 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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