Welcome Finance any dealings???

[DNA]

As far as I am aware, you can VT a hire purchase agreement at any time before the end of the agreement and not just when you've paid a certain percentage. The arrears point doesn't work - even if you have arrears, you can still VT as any figure submitted by them as a final figure to pay would include those arrears. The sticky point is whether or not they have validly served a Default Notice - if they have, they can quite rightly argue that you are not allowed to VT.

 

I've cut and pasted the relevant section of the CCA 1974:

 

"99 Right to terminate hire-purchase etc agreements

 

(1) At any time before the final payment by the debtor under a regulated hire-purchase or regulated conditional sale agreement falls due, the debtor shall be entitled to terminate the agreement by giving notice to any person entitled or authorised to receive the sums payable under the agreement.

 

100 Liability of debtor on termination of hire-purchase etc agreement

 

(1) Where a regulated hire-purchase or regulated conditional sale agreement is terminated under section 99 the debtor shall be liable, unless the agreement provides for a smaller payment, or does not provide for any payment, to pay to the creditor the amount (if any) by which one-half of the total price exceeds the aggregate of the sums paid and the sums due in respect of the total price immediately before the termination."

 

It doesn't say you've got to have paid a certain percentage before you can VT. It means that when you do VT, you are liable to pay to them "the amount (if any) by which one-half of the total price ..."

[lindsay22]

afternoon welcome fighters, i have been looking over the loan agreement again and there seems to be a large space on the left hand side, next to the insurances box on the right, seems strange. it is a very bad one sided photo copy, i was wondering is there is ment to something there and they have covered it up before photocopying it. i have no scanner so cannot put a copy on here, has anybody elses loan agreement got a large blank space in the middle of the left hand side.

[Smoothy]

From my recollection of the agreements ive seen, half way down on the left is the box with your termination rights in it. But i dont suppose they are all the same.

[internetfox]

Thanks guys for your replies,

 

As I have had the car for 18 months I have not yet paid up to the 2 year mark, but have based the argument for not paying the additional amount on the fact that in the 18 months I've had it, it's had approx £2500 of repairs done to it, which is not the standard wear & tear you would expect of a car of (now) just over 3 years old.

 

I will have my agreement checked out by some of the legal bods from work, as I work for a Co. that specialises in Legal advice

 

Thanks again

 

Cheers

 

IF

[overflow]

hi all

could someone please help me fathom out if a claim could be maid against Welcome and if so what to claim.

My daughter has finance for a car and cause they told her no PPI no finance ( shes considered a high risk) she took the loan out.

on the Agreement it states

 

Amount of credit for goods £6,900.00

Amount of credit for Insurances £2,165.89

Total amount of credit £9,065.89

 

 

Duration of Agreement 48 mths

 

payable by £302.75 mth

 

Total amount payable for the Goods £11,316.80

Total amount payable for the Insurances £3,415.20

total amount payable £14,732.00

 

 

 

Other Financial Information

 

Cash Price of Goods £7,000.00

Total cash price of Insurances £2,165.89

Total cash price £9,165.89

Deposit cash £100

PX allowance £0.00

Total deposit £100.00

 

 

Acceptance Fee £150.00

Finance Charges for Goods £4,316.80

Option Fee £100.00

 

Charge for credit for Goods £4,316.80

Charge for credit for Insurances £1,249.31

Total charge for credit £5,566.11

Rate of interest on credit (per annum) 14.42%

 

 

 

 

 

 

Sorry its so long but we are compltely confused.

She has written to them requesting they take the PPI off as she thinks she was mis-sold it but they said they could not do that then they said they would but the repayments would not go down , just the years.

Now would she need a new contract without the PPI or would the original one suffice. but then could they chase her for non payment of PPI later on ,as after all a contract is binding.

She only started the Agreement in July 06 so shes not paid that much off the PPI but could she claim what she has paid back?

Thanks to anyone who takes the time to look at this and perhaps can come back with an answer

[davefirewalker]

we need to see the aggreement

 

As it is an 06 agreement it comes under new regs

 

could you scan it and post it here via Image hosting, free photo sharing & video sharing at Photobucket

 

Dave

[falcon185]

Hi Internetfox,

in relation to your problem with repairs to your car, I would sorely be tempted to throw the "Sales of Goods Act" at them, how long after you got the car did things start to go wrong with it?

If they sold you goods that is unfit for the purpose it was bought for then you may be in a position to reclaim the costs of the repairs or possibly have the contract terminated. IMHO

[doublebombshell]

Hello all

 

Just wandering if I am having my pants pulled down by Welcome finance.

 

The payments per month are £350 and I borrowed 7.5k, I got caught with all the usual shortfall insurances and breakdown but not the warrenty on the car it's self.

 

Can sombody please post how much there payments are per month.

 

Cheers

 

Steve

[todd390]

I started with welcome for a car loan. The first car was written off and the shortfall paid along with my inurance company. I then got another car and that was stolen. The insurance did not pay out as the short fall refused to pay according to Welcome. Then 18 months later welcome asked me if I had made a payment of £900 and odd pounds on the account. I said no and the manager put the phone down. I called back immediately and spoke to one of the office girls (who was a decent agent for them) and she told me the payement had been made 18 months earlier, but they didn't know who by.

It came to light after a few weeks of me quizzing, they said it was shortfall. I asked what did they tell to pay shortfall for? They said so i am not paying for something i have not got.

I said but I am paying you for something I have not got. They made two loans into one but I reckon they have fiddled me and now I'm going to get what they owe me back.

I have asked for a full account of my financial transactions with them since day one. They have assured me I will recieve them this week. I'm not holding my breath.

I know from a previous statement thet i had to beg for that there was at least £575 of fees which they reckoned was for phone calls. When I objected thats when they made two account into one as I refused to make anymore payments to them.

They are a shadey company to deal with.

[falcon185]

Hi Todd,

If you requested this by phone they probably will deny any knowledge of you asking. The best thing to do is to send them a SAR with a cheque or postal for £10, they then have 40 days to comply and will have to provide you with all relevent paperwork etc that they hold on your account. I believe this to be the best way forward for you rather than waiting for them to respsond from a phone call. I would also send the Sar by recorded delivery so you can track it and see when they received and signed for it. Should they not respond within the 40 day limit then you can report them to the ICO.

Hope this helps

[DNA]

Tell you something - if someone owed me in excess of £7k and then I was sent a letter saying I'm not paying you, I'd be on the phone straightaway! That said, this is Welcome we're talking about ... nearly a week since I sent my letter (you know, the one to my local office, to Welcome's Nottingham office and to the Chief Executive of Cattles) and not even a dicky bird! All letters were sent by fax and I have confirmation reports for each fax - so I know they've got the letter ... so what do I do? Sit back and wait for a response or sell the car on eBay - I'm reluctant to wait much longer as I'll lose another month's road tax refund and a month's car insurance if it goes past 1 May.

[donbracho]

hello all welcome fighters ! !!!

 

have just received my sar documents from welcome.

have got everything to do with my second loan, agreement, statement of account subsequent default notices (unsigned) and account activity stuff i.e rang customer.

 

But NOTHING AT ALL to do with my original loan the only reference i have to it is on the second loan agreement amount to settle existing loan agreement .....

 

So am gonna send incomplete sar letter to them for that.

Now for the fees ha ha !

 

They have sold me ppi that i didnt want, 102.91 on a loan of 650 !! Acceptance fee of 65 !

How about phone calls 5 a time ?

Visits at 25 a pop and returned d/debits 25 ?

Can i claim for all this ?

[davefirewalker]

yes

 

Dave

[Alley-Cat]

Hi there, I have requested copies of my statements from old loans. Am I right in thinking that I can claim PPI back from old accounts but cannot claim back any charges? Please if anyone can help I would be grateful. I have not yet received these but I will be looking through them when I do. I spoke to Graham at the Leicester branch.

[falcon185]

Hi Alley,

if you requested this by phone you will probably not get everything you are after, send them an S.A.R. by recorded delivery with a cheque or postal order for £10 they then have 40 days to comply with your request, make sure you put down all your old account numbers in order to get everything you need. Previous experience tells me that anything asked for during a phone conversation tends to be not sent. ;-) IMHO

 

Once you get everything back you can then work out everything from PPI to all charges on the accounts, post back here if you need help, we will all assist where we can. Once you have calculated them all you can then start taking steps to reclaim them.

[cocococo]

Hi , sorry to intrude on this post but does anyone have the address for data controller at welcome finance or do i just send to local welcome branch.

Many thanks

[Smoothy]

I believe this address suffices for SAR 's

 

 

Welcome Financial Services

Mere Way,

Ruddington Fields Business Park,

Ruddington,

Nottingham.

NG116NZ

[todd390]

I took the SAR personally and they had my statements ready. The girl was very helpful. On checking them I see they took the fees then reversed them (obviously at a later date). I see I have PPI but I am going to write and tell them I do not require it and to remove it. Can I claim anything back with regard to that?

[sillygirl1]

Sorry to post on here but I found a Welcome agreement going back to 200/2002 and there were three lots of charges listed, PPI, Healthcare and admin fee, could I claim the lot (PS I have the originalcopy of the agreement!) and whats the best address to write to? Their local office has changed five times in three years locally and their last one has a sign on the door with an address to write to somewhere up north

[todd390]

I just went to the local office.

Your better looking at the welcome threads and see what you can claim.

I'm no expert but just trying to get what they should never have taken in the first place.

[Alley-Cat]

Hi there Falcon185, I came home today to find copies of my statements that I had requested over the phone on Tuesday 16th. I have PPI on these statements and fees ranging from £5.00 - £20.00 a time. Please could you let me know how I go about claiming my PPI back. These are on old loan agreements that go back to July 2001, July 2002, November 2003,June 2004. How do I take the steps to start claiming this back?

[falcon185]

Hi Alley,

 

you can claim all the charges they placed on your account, these are unlawful penalties and should not be applied under contractual law.

In relation to your PPI, try this, its a bit of a read but it will make things clearer for you as to how it may have been missold in the first place and what steps you can take to claim it back.

PPI - Some Notes for Claimants..

 

Have a look here too: PPI Claims

 

Hope this helps

[Alley-Cat]

Hiya Falcon, Many thanks for your response. I will have a proper read later on tonight. I have another question also. They seem to put on a hell of a lot of "Interest Posting" on my statements every months which are just as much as I am paying back.....is this right as the loan in effect will never seem to go down. If i was paying 332.32 a month and they were putting 295.66 each month back onto the account, where do I stand on that?

[donbracho]

hey up me again right am gonna send seciton 10/12 letter to themhowever on my credit report its listed as progressive but the address is welcome so what do i put in the letter ?

[120805]

Hi everyone,

 

I have been reading alot off the website for Office of Fair Trading. Mostly the cca guidelines and it states that a cca must have a section on how to cancel agreement (which mines doesnt) and a the total amount you are paying back, which again mines does not have.

 

Does anyone have any comments on this?

 

Does anyones cca have these required fields on it?