Need help with Welcome Finance Please

[deaddog11]

Hallo folks, Am New to this forum thingy and in need of advice.

 

Have problem with Welcome Finance.

 

Took Hire Purechase Loan with them out on Car in 2008.

Total Amount Payable £7450.80.

Have paid £6132.00 Owing £1533.61.

 

Have received default notice due to missed payments x3. Due to job loss etc.

 

Renegotiated new payment scheme .

But they have now cancelled this due to missed payment.

 

I have Questions.. Can they take the car back without letting me know??

 

Can i sell the vehicle and send them the Balance to reduce the debt??.....

 

I also wish to claim ppi sold on this loan, that comes to about £900.

 

Have Had market valuation on vehicle , its worth approx £500.

 

Any way i can sort this out by letter? Deadline on Default notice 16/1/12

 

If so, suggestions on how to word it would be appreciated. :|

 

Many Thanks Deaddog11

[rebel11]

Hi deadd

 

Welcome to CAG

 

The guys will be happy to advise as soon as they are available.

 

Thread moved to correct forum.

[twofoot]

There are a couple of experts on here who specialize in WF and they will soon be along. Meanwhile, have you signed any new agreement when you agreed a new payment scheme. Also posting up your agreement is a good step but scrub out anything that can identify you.

[dadofholly]

Hi Deaddog

 

First thing first - As you have paid well over a third of the agreement Welcome cannot take the car from you without a court order. Welcome rarely take matters to Court.

 

Secondly - You say you have £900 of PPI to claim. - Welcome have defaulted on their PPI repayments so all claims should now go through the FSCS who will pay 90% of any claim - plus 8% statutory interest for each year since the agreement was made.That on it's own should reduce the balance by approx £1,000

 

Did they also include breakdown or any other insurances on the agreement?

 

They will have added charges to your account for being in arrears - you will also be able to claim back most of these, and again plus 8%.

 

As you can see the amount you actually owe them has been reduced to just a few hundred pounds if that.

 

Have they sent you any recent statements?

 

One tip - never deal with the local branch - deal with their head office only and even then only by letter - never, ever, speak to them on the phone.

[deaddog11]

Thank you for that kind sir.

 

I have sent for and got SAR and am ploughing through it.

 

Yes i did pay for PPI and Breakdown ins, and have been charged for lots of letters and stuff.

 

Am waiting for PPi Claim Pack from WFS via FSCS, Will make sure i fill out form carefully.

 

Do i need to make a claim for each type of "insurance" seperately perhaps?

 

Also can i sell the car privately and send them the proceeds to help reduce balance, have had an offer for market value.

 

Do i need their permission to sell?

 

And yes i no longer take their calls, have cottoned onto that one earlier, thank you.

 

I renegotiated lower payments by letter, i told them what i could legaly afford to pay, they accepted it, but have now cancelled it.

 

Can i still make a new offer of payment even now. And will they be obliged to accept?.

 

Gratefull thanks to all

 

P.S. cannot post forms onto site dont have knowhow or correct gadgets, apologies.

[deaddog11]

Just to say have filled in and sent PPI Claim form via FSCS and had proof of posting.

 

Have also recieved flurry of calls from local office trying to contact me,

also had word from Previous employer that a" caller" claiming to be an "old friend" has been onto them fishing for info on me.

 

This person has the same name as the WFS operative calling my mobile phone?!.

 

Also now had a letter from WFS dated 24/1/12 " Failure Notice".

.demanding payment of balance (£1543.60) immediately,

also stating that this loan was secured on my home and i risk repossesion?

 

But this was a HP Loan on a car, and i rent my home ?

 

What is going on??

 

Any advice on how to deal with this sort of " Treatment", its quite intimidating to say the least.

[dadofholly]

To stop the calls send them the telephone harrassment letter from the library above. Send it to the head office and not the local branch.

 

not sure if you can sell the car - will depend on your terms and conditions - but dont think you can unless it clears the whole balance - unless you get welcomes permission.

 

as for the letter you got mentioning your home - ignore it - welcome are crap at getting things right.

 

fscs will be in touch with you within a few weeks about your ppi claim - this will reduce your balance.

 

add up the charges for the letters - dd charges and calls that they have added to your account - these can be claimed back as well.

[BRIGADIER2JCS]

You must urgently check any documentation on

the HP agreement, they are making a serious mistake

stating that you can face repo.

Then send a formal complaint to Welcome lay out

all your information, their admin has always been

afarce but this plain stupidity, copy your complaint

to the OFT/.

[dadofholly]

As brig says complain to the OFT - we need more complaints against welcome.