Welcome Credit Agreement-Figures wrong-Enforceable?

[Jonny_J]

Hello All

 

I have a Welcome Finance CCA which for one reason or another has been bought by MKRR. I CCA'd them last September, and they have sent me a copy of the front page of the agreement with no T&Cs, but the thing that is puzzling me is the figures stated on the agreement. They are as follows:

 

Total amount of credit = 2945.43

Payment over 65 months

APR = 20.80%

AIR = 19.6%

Total charge for credit = 1805.93

Monthly Payment = 73.07

Made up of

Acceptance fee = 75.00

Interest Charge = 1728.93

 

All well and good, and I am no accountant, but I have work this out on several online loan calculators and got the same amount on each of them, which is different to that on the CCA. They are:

 

Total amount of credit = 2945.43

Payment over 65 months

AIR = 19.6%

Monthly Payment 73.88

Total Repayable = 4802.43

 

There is also no total repayable on the credit agreement. My question is, is this CCA enforceable? I was under the impression that the figures given should be correct. Please help

Total charge for cretid = 1857.00

[PGH7447]

bump

[dadofholly]

Can you upload the agreement removing any personal info and account numbers etc?

 

Will help to see what they have done.

[Jonny_J]

The copy that I have is very small but I will be happy to to that if I can work out how Dadofholly.

[cerberusalert]

Put it into either a zip file or a pdf, go to advanced in the quick reply box & then click 'manage attachments' & upload from there.

[Jonny_J]

Thanks Cerberusalert. I'll get it done asap

[Jonny_J]

Sorry guys, I know its not a brilliant copy but it's all I have right now.

[Jonny_J]

That doesn't really help at all does it. I'll see if I can improve on that.

[Jonny_J]

I'm hoping that this is going to be a bit better.

02041101.PDF

[Jonny_J]

Ok guys, this is much better. I would really appreciate some help on this one.

02041102.PDF

[Jonny_J]

Any advice at all please?

[Jonny_J]

Does anyone know whether the administration charges that Welcome Finance charge are fair and lawful.............or not?

[MrZ]

Probably not Not sure which charges you are speaking of though. I have not seen a charge from them specifically called "administration charge". They have a long list of other charges to rip you off, most of which are unfair.

[Jonny_J]

Hey Mr. Z

Thanks for the reply.

 

I was talking about charging £25 for a letter as well as other similar charges. The usual list that they give their victims.

[MrZ]

Claim them all back. I claimed in the region of 2k in charges w/interest. They have refunded about a third of it. I am fighting them for the rest. But yes, is the simple answer.

[Jonny_J]

Thank you. Much appreciated

[Jonny_J]

Hi All,

 

Its been a while since I have had to post on here, but you have all been so helpful in the past and an old debt from 2006 has reared its ugly head again.

 

The original debt was a £3000 unsecured loan that I took out with Welcome Finance in 2003. In 2006, the debt was re-written to lower my payments due to difficulties our family were having because of illness.

 

I have checked the last statement that I have for this debt, and the last payment, or acknowledgement of the debt was on 29th May 2008.

 

Since then, out of desperation I have asked for a copy of the CCA, which never materialised and it has been through several debt collectors.

 

I have just checked my credit file and although I can see everything that I have now, there is no mention of this debt at all.

 

My problem is that we moved house back in May, and all of a sudden, Robinson Way started to write to me saying that their 'reconnection team' wanted me to get in touch.

I sent them a statute barred letter and heard nothing for a while.

 

Now Resovecall have written to me giving me seven days to call them or a doorstep collector will call to help me to reconnect with Robinson Way.

 

I am thinking that I should send Robinson Way a second statute barred letter as well as a doorstep visit letter to Resovecall.

 

Any help here would be much appreciated. Thank you.

Edited January 8, 2019 by dx100uk
Spacing

[BankFodder]

Write to them immediately with a copy to Robinson Way and point out to them that there has already been a notification given that the debt is statute barred.

 

Point out the rule in https://www.consumeractiongroup.co.uk/forum/showthread.php?426148-CONC-7-15-Statute-barred-debts CONC 7 which makes it clear that they are not entitled to take any further action again she once they have been informed that the debt is statute barred.

 

Tell them that you are preparing to make a complaint to the financial ombudsman service and also reference to the FCA if there is any more trouble from them

[Jonny_J]

Thank you. Is this the correct address for resolvecall? The letter is not vary clear as I guess they want me to phone them.

 

Resolvecall

2nd Floor

Spectrum House

55 Blythswood Street

Glasgow

G2 7AT

[BankFodder]

No idea, sorry

[Jonny_J]

Thank you for your advice anyway Bank Fodder. Very helpful. I will send the letters out today.

[renegadeimp]

Don't contact resolvecall. Deal with robbers way.

[dx100uk]

ive merged a couple of old threads for the complete history.

 

pes I wouldn't send the doorstep letter that's old hat now

as BF says you have all the protection and armoury to now make a formal complaint against robbersway as if you sent our SB letter of recent that mentions conc 7 etc then they should not be contacting you nor pass the debt to a powerless doorstepper.

 

robbersway and the collection wing of Hoist portfolio whom I would assume are robbersways listed clients?

it might be better to write to the owner the debt and complain?

 

dx

[Jonny_J]

Oh, okay. I'll send a second letter to Robinson Way today "signed for", and see what happens.

What should I do if Resolvecall do contact me please?

[renegadeimp]

Tell them to take a running jump. They cant do anything, have no authority or power over anything.