welcome finance issues - now MKDP

[dx100uk]

hehe, another happy welcome finance customer...not.

 

have a look in the welcome finance forum, you are not alone.

 

dx

[Angel104]

TROUBLED lender Cattles today made the decision to close its direct distribution car retailer, Welcome Car Finance, in an attempt to save cash and increase liquidity in the business.

Leeds-based Cattles, which requested to have its shares temporarily suspended from the stock market last week, said consultation had begun with employees to shed around 130 jobs across the group.

Cattles said Welcome Car Finance had traded successfully since the start of this year selling its stocks of cars without buying any new vehicles.......

 

 

And where will this leave us all with car loans?

[GamekeeperToPoacher]

What are the odds on an increase in CAG subscribers shortly?

 

GK

[babybear39]

What are the odds on an increase in CAG subscribers shortly?

 

GK

 

Pretty favourable I'd bet

[postggj]

if there is an increase in new caggers and i find out they are ex welcome,

 

cagboot will be working over time

[dx100uk]

if there is an increase in new caggers and i find out they are ex welcome,

 

cagboot will be working over time

 

and i'll join you!

 

poor soles.

 

cattles want shooting....]

 

 

dx

[42man]

I can only presume they will sell their loan/debt book off to some poor unsuspecting buyer !!! and with all the PPI claims going on too !!!

[Thailand]

I can only presume they will sell their loan/debt book off to some poor unsuspecting buyer !!! and with all the PPI claims going on too !!!

 

If it's anything like YES car credit, anyone wanting to raise a claim after the sale will probably be stuffed

 

(hope I'm wrong)

[cashins]

I can only presume they will sell their loan/debt book off to some poor unsuspecting buyer !!! and with all the PPI claims going on too !!!

 

Think they might have to go a long way to find one.

 

Yeah they will sell it but not for much.

 

Frankly I would be sprised if there is anything left of Cattles by the end of the year.

 

David

[UnmoderatetheNet]

Cattles is also in talks with a syndicate of banks led by Royal Bank of Scotland which have loaned it £500m. Unless RBS and the rest of the group's creditors agree to roll over the credit line, which expires in July,

Cattles may fall into administration, I'll say that again cos it gives me a warm glow, Cattles may fall into administration.

 

Shares price has already been suspended becuase they couldn't cook the books intime for the April results.

 

What will this mean for Howard Co and crooks and anyone with an unenforceable turkey?

[babybear39]

Cattles is also in talks with a syndicate of banks led by Royal Bank of Scotland which have loaned it £500m. Unless RBS and the rest of the group's creditors agree to roll over the credit line, which expires in July,

Cattles may fall into administration, I'll say that again cos it gives me a warm glow, Cattles may fall into administration.

 

Shares price has already been suspended becuase they couldn't cook the books intime for the April results.

 

What will this mean for Howard Co and crooks and anyone with an unenforceable turkey?

 

:lol:

[babybear39]

CL and HC think I live at an address I've never lived at according to my CRA files

[Angel104]

18 months ago we wrote to welcome and asked them to take the car back as we were having financial difficulties

 

 

we never heard a word

 

 

I would also like to say that for the past 18 months they have not even chased us for any money.

 

 

Friday morning a man form KD recoveries knocked on the door

 

 

and said he had come to collect the car and understood we wanted it collected urgently.

 

I told him that as it had taken welcome 18 months they can now take us to court for it.

 

 

Now as welcome are closing down where does this leave us regarding the car?

[ukaviator]

I have merged your threads as it is getting confusing for poeple trying to help. Please use this thread for your issues with Welcome Finance.

[dannyboy660]

CL and HC think I live at an address I've never lived at according to my CRA files

 

 

I've got several addresses that show on the bottom of my credit file as 'linked addresses' but I've been at the same address for well over 6 years now, and 4 out of 5 'linked addresses' have no connection with me whatsoever. The only one I do recognise is my dear (extremely) old Mothers address where I have never lived or had any financial connection.

I've never bothered to do anything about it, but I sometimes wonder how these things happen...and if it really matters......:-|

[babybear39]

I suspect the CL entry is ID theft but TBH I can't be bothered about it if they can't

[Angel104]

Is right that a default notice can only be for the arrears?

 

 

Only we have received one from welcome finance that is for the entire balance.

 

 

Not only that we have paid over £3000 and

 

 

on the notice it says we have only paid £233.50.

 

 

where does this leave us if they carry out their threat to take the car.

[Bazooka Boo]

Can you scan and post it up on here so people can have a look?

There is probably endless faults with it which will make it unenforceable, but yes the first one being that a DN should only request the arrears not the entire balance, are you sure it's a DN and they haven't terminated it?

[postggj]

ive yet to see a compliant dn from welcome

[ozzywizard]

Have you paid over a third of the policy Angel ?

also do you have a copy of your agreement that was orriginally signed by you ? . .

If possible can you post up your default letter so we can check it, please delete your name and other info . .

[postggj]

google photobucket to post and cut and paste the image code onto your thread if your up to it

 

ive yet to see a compliant dn from welcome

[Angel104]

We have paid over a third unfortunately I do not have a scanner.

 

On the agreement it says on or after 14 days of this notice we may terminate the agreement.

 

 

It says if the action required by this notice is taken before the date shown there is no date.

 

 

We can prove that we have paid over £5000

 

 

I dont understand why they are saying that we have only paid £233.

 

 

Should I write to them and ask where the rest of the money has gone.

[Bazooka Boo]

ive yet to see a compliant dn from welcome

 

There is always a first time!

Although it is a pretty safe bet...

[ozzywizard]

Without a numerical date the default is not enforceable, in your situation I would want a SAR so they have 40 days to send you everything they hold on you including statements of every payment you have made etc. This would really help you. send below letter with a 10 pound postal order..

 

 

It would really help your case if you can get to a scanner and learn how to post up the docs on here before your SAR comes back. Do you have a friend or family member with a scanner ? or access to the local library ?

 

.............................

WELCOME FINANCIAL SERVICE

COMPLIANCE

RUDDINGTON FIELD BUSINESS PARK

RUDDINGTON

NOTTINGHAM

NG11 6NZ

 

REMEMBER THE £10 POSTAL ORDER AND SEND RECORDED DELIEVERY

 

Never sign but print signature.

 

 

[your address]

 

 

 

[their address]

 

 

[DATE]

 

 

 

 

 

Data Protection Act 1998

 

 

Subject Access Request

 

 

 

 

Dear Sir/Madam

 

 

 

ACCOUNT NUMBER: xxxxxxxxx (or multiple numbers if more than one account)

 

 

 

Please supply me with copies of all the data which you hold on me in relation to any matter and in any form and for any period of time.

Please note that I require disclosure of any personal data which you hold on me for the entire period of my dealings with you.

The Subject Access is not limited to my transaction history and it is not linited merely to 6 years of historical information.

Additionally, where there has been any event in my account history over this period which has required manual intervention by any member of your staff, or any other person, I require disclosure of any indication or notes which have either caused or resulted in that manual intervention, or other evidence of that manual intervention in relation to my financial business with you.

I require all information on details of all insurance products supplied by welcome financial services. This is to include the statement of means, statement of price, details of all insurance premium tax paid, and underwriting sheets.

If mortage indemnity insurance has been added to the agreement, i require all details on who this premium was paid to, and who underwrites this insurance.

 

If you are unable to supply this data because there has been no such manual intervention, then please be so kind as to confirm this in your response.

 

I enclose the statutory maximum fee of £10. You have 40 days in which to comply. Furthermore, if I discover that you have levied disproportionate penalties or charges which are invalid under the Unfair Terms in Consumer Contracts Regulations against me, then I shall be reclaiming them together with any interest charges which you have levied on them.

As it is your wrongdoing and mishandling of my account which has created the necessity for this Subject Access Request, I shall also be reclaiming the enclosed £10 Data Protection Act subject access request fee.

 

If there is specific information which you require in order to satisfy yourself as to my identity, please let me know by return. However, please note that the above address is the one which you normally use to communicate my private business to me and which you have hitherto found to be acceptable.

I would be happy to collect the Data from my local branch.

 

 

Yours faithfully,

 

 

[signature]

 

 

[name]

........................

 

Do not sign SAR , just print name. Next question, so you have your credit agreement that you orriginally signed ?

[Angel104]

my husband wrote to welcome asking for a refund on the mis sold PPI

 

 

welcome have written back saying they have taken what he paid off the balance off the loan.

 

 

Are they allowed to do this or do they have to refund it.