Welcome Finance secured loan harrassment & PPI reclaim

[BRIGADIER2JCS]

IMHO YES:madgrin:

[sonway]

gunna get the SAR sent off in the morning. Thanks

[BRIGADIER2JCS]

Welcome:madgrin:

[sonway]

would anyone happen to know the address to send to? i only have the local one.

[BRIGADIER2JCS]

I haven't got it with me just google Welcome.

[sonway]

I have recieved my SAR request in the post this morning, can anyone advice me what i am now to do with regard to making a claim against them? optional PPI is on thje agreement.

[sonway]

The Loan agreement

 

optional PPI £2431.95

Acceptance fee £215

Mortgage indemnity fee £1100.00

amount of new cash advanced £8533.01

details of new cash advanced £1466.99

6 xf/care 1st £240.00

6x f/care 2nd£240.00

 

Total amount of loan £14226.95

amount of each monthly payment £278.73

APR 26.0%

rate of interest 1.7% per month

repayment period 120 months

[BRIGADIER2JCS]

Go carefully through the SAR documents look

for underwriting sheets showing commissions paid

to the insurance company and any major charges,

if you search the forum there is a wealth of info

on reclaiming.

[sonway]

There are also many charges applied on the payment history.

This loan had a full write off on 31/10/05, however welcome took a 5k payment from us in march 2006 in order for them to remove the secured loan from our home, is this legal as the loan was written off 5 months prior.

 

Thanks

[BRIGADIER2JCS]

Hi sonway, not to sure on the 5K charge for lifting the charge on the property,

but I think you should check the terms and conditions for any reference to the

process.

Brig.

[sonway]

There is nothing amongst all this paperwork that mentions the 5k that we paid them, surely there should be?

from a PPI point of view all i can see is that Norwich union wrre the underwriters for the insurance

[BRIGADIER2JCS]

Hi, Yes of course that must be included in the SAR, was any kind

of written notice that the charge had been lifted and the the 5K ''fee''

had been paid?

IMHO the SAR is incomplete without this information, a formal complaint

should be sent to their Compliance Manager demanding the information

within 7 days (send RD), you can also report this to the ICO if they

don't respond to the letter.

Can't be an ''admin error'' for £5K I think.

[sonway]

We had nothing from them re the charge, they took the 5k on completion of our re mortgae and we never heard anything else. I think there is something seriously wrong here.

[BRIGADIER2JCS]

We had nothing from them re the charge, they took the 5k on completion of our re mortgae and we never heard anything else. I think there is something seriously wrong here.

Yes it smells very fishy 5K disappears and no record of the payment!!

 

Immediate complaint to Welcome by RD .

How was the £5K taken direct from your account or

by cheque?

Were you informed by the Land Registry that the charge

has been lifted that will give you some evidence of payment?

[sonway]

Paid by cheque on completion of the mortgage, not sure that the land registry wrote to us, will have to check on that. im having a major panic now that something is seriously wrong here.

[sonway]

What is an RD? where do i find this?

[BRIGADIER2JCS]

Sorry initials for everything. Recorded Delivery

so you can trace and check delivery.

[sonway]

How would i word the letter? something along the lines of .. in the SAR you have falied to metion the £5K that you took from us, where is this?

[sonway]

Also, shall i wait to claim the PPI until i sort out the missing 5k?

 

Thanks

[BRIGADIER2JCS]

Sir,

I write regarding the documents requested

in my Data Protection Act request dated xxxx

received xxxx, I am now aware of a serious omission

in the data provided, that is the documentation regarding

the fee paid to you by cheque on xxxx for lifting the charge

on my property.

As there is no record with the requested documents

I now require you to produce ALL the documentation

regarding this fee and proof that the charge has infact

been lifted

Failure to comply fully with this demand within 7 days

of the date of this letter will result in a formal complaint

to the ICO and I will consider legal action forthwith.

 

 

Sorry for the delay wrote it once and lost it.

[sonway]

got another statement in post today with no mention of the 5k. it does have capitalisation debit payments, conversion/default fees. Anyone know what these are and if they can also be claimed back.

 

Thanks

[BRIGADIER2JCS]

Hi sonway, that's typical Wecome speak,

default fees/charges are just what it says,

capitalisation OED description . convert to

capital, reckon the value of the asset

by setting future benefits against the cost

of maintenance, IMHO in this case it means as company asset on the books

how much is the debt worth and how much is it going to cost to recover

the value paid for the debt and realise a profit.

Charges may be difficult if your claiming PPI do that first.

[intend]

Hi Sonway - The PPI claims for Welcome are being handled by the FSCS as Welcome in default - need to go to web site to get details of how to apply - more info on PPI section of CAG

 

I'm in process of claiming.

 

Intend

[sonway]

Our loan was before 2005 and i dont think that the FSCS are dealing with claims from loans before 05.

How are you progressing with yours?

[intend]

I think you are right - sorry for useless post. To answer your question - very slowly - still same muppets at Welcome doing the donkey work.

 

Good luck

 

Intend