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Welcome Finance.. Help needed if possible please


PurpleRayne
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Hi everyone,

 

I don't really know what to put here, but I will try and explain my situation and then perhaps you could ask if I have missed anything :).

 

 

In 2007 I took out a £4k loan with Welcome to buy my ex (partner at the time) a car.

 

He said he would put the money into my bank each month so that I could repay the loan

(I know i shouldn't have done this, I have now learnt my lesson and will not be getting another loan EVER).

 

Well he lost his job in around September 2007 (If i remember correctly)

 

was unable to pay the money, which meant I was then behind on payments.

 

My loan got passed over to debt collection company Roxburghe and I have since been making regular weekly repayments of £5.25

as I am a single non working parent and can't really afford more than this.

 

I checked to find out what the balance was around a year ago to be told the outstanding balance was around 7K due to welcomes charges for not paying etc.

 

I asked if interest was still being added and was told by Roxburghe that it wasn't.

 

I checked my credit rating the other day to find that I am rated 1 which, fair enough is understandable.

When I read further into this it shows my welcome account as "Late Payment" and the balance outstanding is around 13k WTF?! (Excuse my language).

 

I will TRY and attach a document to this post which i have copy and pasted removing all my details to show you exactly what i mean.

 

Seems like Ive been rambling on a bit, I will be more than happy to answer any questions if I have missed anything.

 

 

Is there anything I can do about this account. I don't want to get out of paying it as I did take the loan and it is my responsibilty to pay it back, but 4k to 13k is a bit of a joke isnt it?

 

Thanks ever so much for your time

PurpleRayne

Untitled 1.doc

Edited by citizenB
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Bliddy hell, yes that does appear to have shot up quite a lot.

 

You say you took out the loan in 2007 and your partner also became unemployed in 2007.. so how many payments proper did you pay ?

 

Do you know if there was any payment protection attached to this loan ?

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BCOBS

1: How can BCOBS protect you from your Banks unfair treatment

2: Does your Bank play fair - You can force your Bank to play Fair with you

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5: Fair Treatment for Credit Card Holders and Borrowers - COBS

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Hiya,

Glad you (finally) made it. We are a friendly bunch (if a little mad :madgrin: )

 

I really do think you need to SAR welcome to find out what has happened since you went on reduced payments. I suspect they didn't freeze the interest and they have slapped loads of charges on to it. We can help get those charges back and possibly get the interest frozen or at least reduced to a level that means your remaining debt goes down rather than going up by over £200 per month.

 

Most of what you need will be in the library (top left-in green)

 

Don't forget. Any documents you wish to post up, make them as vague as possible and remove ALL identity points

:-o

If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

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Thanks for the welcome and help it is much appreciated. I'd also like to note I'm am absolutely bonkers too lol. I shall get on with that SAR tomorrow i think. Do I have to have my account number for this because I honestly cannot remember what it is. Could I not provide them with the address I was at when I took out the loan or would this not be apt enough?

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you dont need account numbers for an SAR

 

just inc any addreses that were from the time of taking the loan.

 

dyou wil have ppi and a whole host of charges

 

they prob OWE YOU!!

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thanks dx, I'll get onto that in the morning then.

 

I think I remember something about PPI but I have a brain like a sieve lol. Them owing me would be a nice thing that I wouldn't complain about at all. Thanks ever so much for your help.

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Is the account number not on the page from your credit files ?

Have we helped you ...?         Please Donate button to the Consumer Action Group

Uploading documents to CAG ** Instructions **

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

BCOBS

1: How can BCOBS protect you from your Banks unfair treatment

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Hi Purple Rayne

Almost a carbon copy of my situation.

 

I took a 4k loan out in 2008 and paid the debt which was £341.00 per month up till I got made redundant in August 2010.

To cut a very long story short I couldn’t afford the payments obviously and as a show of kindness on welcomes part they slapped on the interest!

Finally my insurance kicked in but that ran out in time and still out of work I was paying £100.00 a month at first as I could not afford anything else.

The interest continued to pile on and I received threatening phone calls, letters ect!

Finally I started working (self employment ) But I was still tight for money and I continued the £100.00.

 

They agreed to freeze interest (big of them after all this time) and when I asked for my statements from day 1 back in Sept last it was like this

- took out 4K, paid back 11K and they still want 3K.

 

It was then I decided that I was going to stop all further payments!

I dont care what they say or how much they claim I owe them, in my book the debt is paid! Period!

 

At this time I was claiming back my PPI from them, which I got, but this was deducted from what they claimed I owed them.

Got this is December last! I now apparently owe the just under 2K!

 

Well I'm going to be completely honest I told them they could take a hike and swivel at 90 degrees!

 

I recently went through a separation with my wife and am now a single father & due to having to deal with everything myself over the last year

I have learned that these sharks have no power whatsoever, that they only use empty threats because they have no power and if you stand up to them there is nothing they can do!

 

Welcome are bankrupt, gone in fact!

They have a skeleton staff desperately trying to salvage what they can, all students being paid pittance and on commission to try to get what they can from former Welcome clients!

 

These sharks called me in October last and I had a shouting match with a so-called CS rep and I told her she worked for conmen and that I was basically not paying them anymore.

 

In November I got a call from a doorstep collector who asked if I could pay the outstanding amount

and I told him that in my book the debt is paid, they’ve had my loan back plus over half more and they weren’t getting anymore.

I told this guy that their original 41 APR had been a joke considering what they’ve had from me and not only that the (edit) who signed me up

didn't even bother to get a signature from me (something I'm looking into further).

They lied, took out insurance behind my back, threatened etc!

 

I'm not a violent guy by any means but can look after myself and when this (edit) of a collector said that it wouldn't be a pleasant experience if he came around

I told him to bring it on and I'd enjoy giving him a unpleasant experience.

 

I think he got the message and I haven’t heard anything since! I really would like a visit!

He obviously assumes that everyone are scared or old people, I’m neither and I told take anything from lowlife like that!

 

Basically my advice is to not worry, there’s nothing they can do, if any lowlife comes to your door slam it in his face,

threaten to call the police, and also send them a letter saying you do not want any further calls, or visits

and if you do receive any you will consider it harassment and you will call the police.

 

State that you wish any further correspondence by letter and just sit back and wait for them to go out of business completely!

 

OK it will effect your credit history, but just wait 5 years and you can get it cleared anyway

and I’ve been told that if they go into insolvency, which welcome have, then the debt should be wavered anyway

from your report because you cant owe them money if they don’t exists.

 

Something I’m looking into now!

 

But like I say, don’t worry about them, they have no power at all and they are just chancing their luck!

Edited by silverfox1961
removed words and tidied a bit
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Thanks ever so much Mark, I am trying not to worry it can be hard sometimes though.

 

Please do let me know if you hear anything further about your last paragraph, I may have to also look into this.

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  • 1 month later...

Hi there,

 

I took out a loan with welcome and have posted here before.

 

Well I have recently received a letter from Welcome instructing me to change my payments over to "The Lewis Group" (TLG) from "Roxburghe" as Roxburghe had been notified of my account move and TLG would now be handling my account. So I phoned TLG to set up a new direct debit and they arranged for £21 a month to be taken from my account.

 

What I have now noticed it that Roxburghe are still taking the weekly £5.25 from my account and this is via "Card payment" not direct debit as I first thought. I phoned my bank to be told they cannot cancel card payments. Whether this is true or not I do not know.

 

I know I should not have really, but I then preceded to phone Roxburghe who told me that they have NOT been instructed by Welcome that my account has been moved so, I'm now paying two companies money for the same loan and I am unsure as to whether Welcome have actually instructed me to change my details over or whether its a [problem]....

 

Any advice would be much appreciated.

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  • 2 weeks later...

For those that don't know, I know PurpleRayne and I have her agreement.

There was PPI taken out on the loan and I have a demands and need statement which says PR was working more that 16 hours per week. I will find out whether PR was encouraged to take out PPI as a condition of getting the loan (which is what I suspect)

The agreement was taken out in July 07 and for some strange reason PR got the loan without sending back the signed agreement (it is in front of me and the customer copy as well)

If it helps anyone, I can scan and post up the agreement (suitably redacted of course)

Another thing about this agreement. It looks like PR never sent it back so how would it contain a signature from Welcome?

 

One other thing, NO cancellation rights?

If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

Please help CAG. Order this ebook. Now available on Amazon. Please click HERE

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Hi Purple Rayne

Almost a carbon copy of my situation.

 

I took a 4k loan out in 2008 and paid the debt which was £341.00 per month up till I got made redundant in August 2010.

To cut a very long story short I couldn’t afford the payments obviously and as a show of kindness on welcomes part they slapped on the interest!

Finally my insurance kicked in but that ran out in time and still out of work I was paying £100.00 a month at first as I could not afford anything else.

The interest continued to pile on and I received threatening phone calls, letters ect!

Finally I started working (self employment ) But I was still tight for money and I continued the £100.00.

 

They agreed to freeze interest (big of them after all this time) and when I asked for my statements from day 1 back in Sept last it was like this

- took out 4K, paid back 11K and they still want 3K.

 

It was then I decided that I was going to stop all further payments!

I dont care what they say or how much they claim I owe them, in my book the debt is paid! Period!

 

At this time I was claiming back my PPI from them, which I got, but this was deducted from what they claimed I owed them.

Got this is December last! I now apparently owe the just under 2K!

 

Well I'm going to be completely honest I told them they could take a hike and swivel at 90 degrees!

 

I recently went through a separation with my wife and am now a single father & due to having to deal with everything myself over the last year

I have learned that these sharks have no power whatsoever, that they only use empty threats because they have no power and if you stand up to them there is nothing they can do!

 

Welcome are bankrupt, gone in fact!

They have a skeleton staff desperately trying to salvage what they can, all students being paid pittance and on commission to try to get what they can from former Welcome clients!

 

These sharks called me in October last and I had a shouting match with a so-called CS rep and I told her she worked for conmen and that I was basically not paying them anymore.

 

In November I got a call from a doorstep collector who asked if I could pay the outstanding amount

and I told him that in my book the debt is paid, they’ve had my loan back plus over half more and they weren’t getting anymore.

I told this guy that their original 41 APR had been a joke considering what they’ve had from me and not only that the (edit) who signed me up

didn't even bother to get a signature from me (something I'm looking into further).

They lied, took out insurance behind my back, threatened etc!

 

I'm not a violent guy by any means but can look after myself and when this (edit) of a collector said that it wouldn't be a pleasant experience if he came around

I told him to bring it on and I'd enjoy giving him a unpleasant experience.

 

I think he got the message and I haven’t heard anything since! I really would like a visit!

He obviously assumes that everyone are scared or old people, I’m neither and I told take anything from lowlife like that!

 

Basically my advice is to not worry, there’s nothing they can do, if any lowlife comes to your door slam it in his face,

threaten to call the police, and also send them a letter saying you do not want any further calls, or visits

and if you do receive any you will consider it harassment and you will call the police.

 

State that you wish any further correspondence by letter and just sit back and wait for them to go out of business completely!

 

OK it will effect your credit history, but just wait 5 years and you can get it cleared anyway

and I’ve been told that if they go into insolvency, which welcome have, then the debt should be wavered anyway

from your report because you cant owe them money if they don’t exists.

 

Something I’m looking into now!

 

But like I say, don’t worry about them, they have no power at all and they are just chancing their luck!

 

you my dear friend need to SAR welcome

 

i bet they owe you £1000's in unlawful PENALTY fess for everything , letter/phone/debt arrangement/debt collector fee etc etc

 

ALL can be reclaiming PLUS the interest they caused.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Personally, since it is difficult (but not impossible) to cancel the continuous card authority in favour of Roxburghe, I would cancel the direct debit you have set up in favour of Lewis Group and write a letter addressed to all 3 parties explaining your position (the same letter to them all), asking them to communicate with each other and come to an agreed position and to let you know what that is.

 

In the meantime do some more research on continuous card authorities, I do believe you can get rid of them somehow. Also, when you have reached an agreed position I would suggest never setting up a direct debit with a debt collecting agency, instead insist on paying them by standing order.

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  • 3 weeks later...

Re: Continuous card authorities. You are correct - they are VERY difficult to cancel. You need to be able to give your bank copies of any WRITTEN information that you have cancelling the transaction with the supplier concerned. I suffered this problem when my card details were 'leaked' to some iffy websites overseas who used a different name each month for the transactions. It took me six months to convince my bank to refuse to honour the debits. AND NEVER, NEVER, NEVER, EVER PAY A DCA BY DIRECT DEBIT. LSP

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We have been telling people to put a letter into their bank instructing them not to make any payments under any circumstances to these companie

http://whatconsumer.co.uk/visa-debit-chargeback/s - it works!

 

banks MUST follow written intructions from their customers !

This fsa guide has now been updated:

 

http://www.fsa.gov.uk/pubs/consumer_...ghts_guide.pdf

 

Here's the text:

 

Cancelling a regular

card payment:

 

When you give your credit or debit card

details to a company and authorise

them to take regular payments from

your account, such as for a gym

membership or magazine subscription,

it is known as a ‘recurring transaction’

or ‘continuous payment authority’.

These are often confused with direct

debits, but do not offer the same

guarantee if the amount or date of the

payment changes.

In most cases, regular payments can

be cancelled by telling the company

taking the payments. However, you

have the right to cancel them directly

with your bank or card issuer by telling

it that you have stopped permission for

the payments. Your bank or card issuer

must then stop them – it has no right to

insist that you agree this first with the

company taking the payments.

Be aware, though, that you will still be

responsible for paying any money that

you owe.

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

thread tidied

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

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