Welcome Finance - Charges

[Blue-eyed-girl]

We have hit the lull that my husband has not worked since christmas properly and we have tried to ask welcome for some understanding and time to get back on track. The are not very forthcoming at all. We borrowed 14,000 altogether over 10years. we are paying £343 a month but their capitalisation charges are just as much so therefore will our loan ever come down??

 

What are these charges that are so much? Can they threaten repossession even if they have not asked for an income expenditure details how can I rid them of harrassing us continually and being charged for these calls. My husand has reached the end of his teather and I am so near with them too.

 

Please advise, will be ever so gratefull

[beyondhope]

Hi Blue capitalisation is what is commonly known as interest hope that helps a little.

 

Have you told them in writing you want no futher verbal (telephone) contact?

 

Dont panic about being charged for calls that is something you can claim back.

[Mummy 3]

Sorry to hear they are harrassing you so much. I only joined this forum a few weeks ago so am not the best to advise you but we are in a similar situation. The loan with welcome is not mine but my partners and i felt so strongley about they way they treated him i joined here for advice. We send off a letter about telephone and doorstep harrasment over 2 weeks ago but sadly that hasnt stopped them, i would say if anything they are worse than ever! We are the end of our tether with them and their threats. Also my partners loan is 103 a month or something like that and each month they are adding on 106 capitilisation so it will never be paid off, how can that be legal???!!!

[Blue-eyed-girl]

HELP! I have today received a letter from Welcome Financ containing a Default Notice, I am alreadyat my wits end with them as last week I asked them to ring me so I could talk properly instead of in the office and I have not heard from them.

My husband has been out of work for quite a while, I have taken on as many repayments as possible and cannot literally afford to pay Welcome, they are aware of our situation.

Our house has gone back on the market this week as we are pretty certain that if its not sold it will almost certainly be repossessed.

I wonder if we handed the keys back to the mortgage people what order do the loans fixed to the house get settled? is there any particular order? We have the mortgage which has a suspended possession order, fixed loan with welscum and a court order on which we had on car finance which is currently being paid monthly under arrangement by myself.

We are worried sick that we dont know what to do in the right way, please any help and advice would be welcome to us ;-)

[Blue-eyed-girl]

Hello, does anyone know if there is a letter available to ask for charges for telephone calls and letters that they have charged me please, I have £718.00 worth of charges and I would like me money back. Please any advice or template would be gratefully received.

[Blue-eyed-girl]

Hi, just wondered if someone can help me, I have had my SAR returned and my statement says that I have had £718.25 worth of charges in telephone calls to me and charges for letters from 4/1/2006 to 3/4/2010.

 

Can I collect this back from welcme or can they say that it is legal and stands as their charges? If so is there a letter that I can use as a template.

 

We have had enough of them ;-(

 

Any help will be so gratefully received

[Sand-Dancer0191]

They WILL say it's legal as the charges are stipulated on the agreement.Read other threads to get more info and letters about reclaiming...I can say that I couldn't BUT others may have....

[EBOY]

I got my charges back. I believe it is wrong for them to charge interest on charges which is why they now send a letter stating if the charge is paid in the timescale interest will be added. I would write to them and tell them the charges should not have been charged interest.

[dx100uk]

if they charge interest on their charges then claim it back the same way as PPI + 8% as well.

 

there are many threads about his .

just remember you charge them intererst from the date EACH charge was levied not enmass in one lump .

 

dx

[Blue-eyed-girl]

Thank you for your thoughts and advice. I will be looking into this very much. Do you have any links to the threads relating to this same issue? Thank u

[Blue-eyed-girl]

I have today spoken to Welscum and they have confirmed that they do charge interest on charges applied to my account ie telephone calls or charges for letters issued.

 

So far I have according £157 worth of charges which is being charged a monthly interest of £2.63 (this months charge). How do I go about reclaiming and calculating the interest at 8%?

 

Again any help is gratefully recevied

[dx100uk]

you need to do some reading up

look for simular threads here to yours

 

the process for charges+int is the same as PPI reclaim.

 

dx

[Blue-eyed-girl]

Hi dx

 

So sorry to be a pain, I have looked through and am going crosseyed trying to take it all in, can I claim the interest that has been charged on my letter/telephone charges as well as the charges themselves?

 

I am not clued up on all of this.

 

Please explain as I have it in writing as I requested a SAR and received it.

 

Thank you in advance

[dx100uk]

yes

 

 

Compound interest calculator

 

dx

[slick132]

Several threads merged. Please just use this one thread for your Welcome case.

 

Thanks

 

Edited July 29, 2010 by slick132
edited after merging