Welcome Finance any dealings???

[bankofsandy]

Hello guys..one couple of points from me: they included Ac.fee in the total and than put an intrest on it? is it legal?i do not think so..because it's an admin fee..and if you agreement is for 6 or more years..it does affect it..

Now, in my agreement i do not have the total amount of the loan and APR and i mean the total amount that i have to pay at the and of the loan agreement..Now i have seen an other agreement and it has Finance Charge(APR on the top of the loan or PPI) included..Mine doesn't have it...on my agreement you can't see anywear how much i should pay on the top of the loan amount...( apart of 36 payments of £193.35)

 

have you got similar agreements?

 

regards,

 

 

Maria

 

 

My agreement includes gap insurance, PPI and mechanical breakdown AND acceptance fee of £75.00 and then charges interest for the full term of the loan.

 

I was wondering if this can be claimed back as well as the insurances.

 

I am about to send them an LBA for the full amount.

 

Sandy

[itsmeandonlyme]

Hello Sandy, if they were mis-sold to you, than you must claim them back and do not forget that they put the intrerest on it. I am not sure what is gap insurance...also you can find the cost of the mechanical insurances from different companies and include that the WF's overcharging for same time of the insurance...etc...( i am sure thay do).

 

As per your acceptance fee, they put an interest on it as well...but it's neither part of the loan no insurance, it's an admin fee......

 

 

I can't believe how long they got away with this...

 

 

any problems let me/us know:))))))

[carinas]

hi i've also claimed for acceptance fees, 2 at £180 each. I cant find the part of the 1974 consumer credit act that relates to this, anyone got a link? i'm sure i read that they cant charge over £5 for a processing fee?

[overflow]

Tanks for looking these over Smoothy, and yes it took some time for me to figure it out but got there in the end;-)

Sorry to seem dumb but who do you mean when you ask if they signed or someone on thier behalf? My daughter or the agent for Welcome:confused:

Appreciate your help thanks.

Eileen:smile:

[geordie101]

Who should I make a formal complaint about welcome to? i admit due to financial problems i have been ignoring/avoiding them, i agreed to make a payment to them today, they turned up at my home an hour and a half before the agreed time, while i was walking to the bank " as they were in the area ", after explaining where i was going they picked me up and took me to the cash point!, they have been calling me at work and my boss is starting to ask questions...

 

I know not talking to them isn't a smart thing to do, however this is the 2nd refinancing of a loan, i think i should have learned by now, despertate situations called for desperate measures unfortunately though!

 

Any advice or comments??

 

Thanks!!

 

Geordie101

[overflow]

hi , after reading your post i must admit to being alarmed at this treatment you received. surely this amounts to harrasment and should not be allowed to happen . I can only comment on what i think i would have done if i was in that situation. i think i would have told them in no uncertain terms to go forth and multiply and to come back at the proper time arranged. write a letter of complaint to the head office , you must do something , dont allow yourself to be manipulated in this way. ok you are in debt but that doesnt mean they can treat you like this.

sorry i cant be of more help, wish i could , but im sure some one on here will give you some sound advice about it.

good luck

regards

[overflow]

hi if anyone has read my post on here about welcome and my daughter could you please advise if she would be entitled to claim anything back from them . she was told she had to have the ppi or no loan. when asked to take the ppi off she was told no they could not do that

thanks any comments would be appreciated:)

[andy2708]

I purchased a car from Welcome Finance in January 2004 with monthly repayments of £287.00. Back in January I decided to VT the car, there were ongoing disputes between Welcome and myself over this option. I went to Trading Standards to seek their help and they advised me that I would have to pay back all the outstanding amount left on the agreement, which is about £6000. The account was then passed over to their Collections Department. I was contacted by them and they discussed the option of starting a new agreement at a lower monthly payment (which was what I was after in the first place). It may seem crazy refinancing but I need the car for my job, so this is my best option (I think). They asked me to pay one instalment at the new rate of £165, which I did at the end of February, I haven’t paid any instalments since. I was then told they would draw up new papers for the agreement, since then I have had no contact from the either by phone or post. What should I do? Technically the old agreement is defunct now and I haven’t signed a new one. Where do I stand legally?

[davefirewalker]

buy yourself a pint and relax...

 

wait for them to come to you, and then issue a cca and see what agreements they come up with. They may have an agreement variation or something simmilar, but I would still think that you would have to sign that.

 

Dave

[davefirewalker]

hi if anyone has read my post on here about welcome and my daughter could you please advise if she would be entitled to claim anything back from them . she was told she had to have the ppi or no loan. when asked to take the ppi off she was told no they could not do that

thanks any comments would be appreciated:)

 

I do not think that you can be made to take out ppi for a loan, if this was a part of the deal then you can certainley claim misselling. There are threads on here dealing with PPI I would have a look at them to get some ideas.

 

I am issuing a court claim against RBOS for a missold PPI at the moment. I dont know how it will turn out, but i'm giving it a go.

 

write them a warning letter threatening court action and see what happens.

 

but you dont have to carry it through if dont want to, but they will then have a lever and you'll never see your money.

 

Dave

[overflow]

Thanks dave,

Ill tell her what you said and take it from there. Im sure she is entitled to have it stopped if she requested it.

 

regards

 

Eileen:)

[blue_diamond23]

Hey guys... I need some advice!

I sent off my S.A.R to Welcome and I recieved my information last week. I was mainly looking at the charges and PPI and am definately going for both of them but a few other things have come to light since I have been able to view all of the Information.

When I applied for the finance for the car i had been working for 3 months and was only working 16 hours per week as I am a single parent with a small child. For a start the company have added the PPI without my knowledge (they have given me no indication of who the PPI is with so Im still gonna have to chase that up)... Its only recently that I realised they had sold it to me!! But the thing is I have heard that most Insurance companies wont sell PPI to someone who is only working part time and working for such a short period of time... anyone know if this is true?

Also upon looking at my agreement, Welcome have added The PPI to the total but have never added it to the monthly payments so the figures dont add up at all! And on the pay out check list one of the questions is along the lines of "can the customer afford this loan?" and there is a big question mark next to it!! surely if they thought there was a chance that i couldnt repay the loan they should never have been allowed to give me the money!!

So basically the agreement doesnt make any sense... is this enforcable? Im so confused

Thanks

Bex x

[davefirewalker]

we cant tell if its enforceable or not without seeing it.

 

post it here and ask for comments

 

Dave

[Alley-Cat]

Hiya guys, I have had a letter today from Welcome Finance saying that they are looking into my claim for PPI and Charges over 7 of my old loan agreements and they hope to respond to me within 14 working days. I have found this to be polite upto now, so am hoping that the path will run smoothly. I rang and asked for my statements with our current account manager, they were sent out within 2 working days (impressive ), I then drafted up my letter and faxed it over to my local branch who have acknowledged this and hence the letter when I arrived home tonight.......will keep you posted

[Alley-Cat]

I have today received a response from the compliance dept in nottingham. The letter states:

 

"I have investigated the issues raised and can respond as follows. Fees applied to your account are in line with our standard charges for collecting overdue payments. This is provided for contractually in the terms of the agreement(s) signed and out standard rate of charges is supplies to customers taking out their agreement(s).

I note your reliance on Office of Fair Trading (OFT) guidance is in relation to credit card, bank overdraft, storecard and mortgage default charges and not those of a regulates secured loan agreement(s). The guidance involved the OFT insisting some of the credit card companies reduce their charges to £12. Given that we only charged £5 for each letter and telephone call we are obliged to make, we cannot agree that these charges are disproportionately high.

Our records indicate that you were sent a letter on 31st August 06 explaining the new charges payable should you breech your agreement, which took effect on 15 Sept 06. These new charges incorporate a £10 charge if we have to telephone or write to you. Please note these charges are only applicable if we have to initiate contact with you where you have not fulfilled your contractual requirements.

You will also note this guidance is not in relation to PPI. As a result I am unclear on what grounds you seek to recover your PPI premiums. On receipt of such clarification, I shall be happy to consider the matter further.

Kieran Scothern, Compliance Officer"

 

Please advise if what they are saying is correct or can I pursue the charges in more detail? I am going to pursue the PPI as each loan we have had , my hubby was self-employed and surely that would not have covered him??

 

Sorry this is so long but am desperate for some advice.

[itsmeandonlyme]

Alley cat i got my fees rebated to my account when i sent to Kieran this:

 

I am of the opinion the law is clear on liquidated damages and that, irrespective of your belief to the contrary and regardless of any agreement that I may have signed, the payment of excessive damages will be interpreted as a penalty and therefore the charges you imposed will be unenforceable and should I be forced to litigate, judgement granted in my favour.

 

The fact that your fees do not differ significantly from those charged by other companies operating within the Financial Services industry is entirely redundant however I am most interested in your comment regarding my responsibility for those fees. Given your clear and unambiguous statement that these fees represent the costs to your business and that you have incurred them as a result of my breaching our contract I am sure you will be happy to demonstrate this by letting me have a full breakdown of the costs to which you have been put as a result of my breaches in order to reassure me that your penalties really do reflect your costs.

 

Charges are not legally enforceable if they are penalties. Penalty clauses in contracts in English (and Scottish) law for breach of contract are not legal if the penalty exceeds the actual cost of the breach of either party. The law relating to penalties has been established through case law. The cases date back to the nineteenth century and the courts have been consistent in the way that they have ruled on penalty clauses

 

I am mildly amused by your penultimate paragraph and your apparent misunderstanding of contract law and seemingly deliberate attempt to complicate what is a straightforward issue.

 

try..it worked with me:))

[Alley-Cat]

Thank you for that "itsmeandonlyme" - I have read with interest and have sent my letter of response back to Kieran at Welcome and see what he says to it. I have also sent a letter regarding my PPI claim which he failed to recognise so lets hope we get a better response than before......

[itsmeandonlyme]

Dear Alley Cat...U r More Than WELCOME:))))(just joking).... more than happy to help...

[lindsay22]

just received a letter from welcome regarding mis sold ppi and over £1000 in fees, basically they agreed a payment offer from my partner then issued a ccj they then applied for a charging order, which they have not gone ahead with.

heres the letter

 

dear ******i am writing with referance to the various letters of complaint, which have been passed to me to reveiw due to there complexity, and i would like to take this opportunity to address each of these as a seperate entity.

firstly, payment protection insurance is optional and is only provided after a comprehensive review of a customers currant circumstances and future needs. as stated in previous correspondence, this ppi provides cover for self employed customers and i have enclosed with this letter copies of various documents which have been signed by yourself to confirm the reasons for purchase and that you were aware that it was optional.

however if you beleive that this insurance is now no longer appropiate for your current circumstances, then i can arrange a pro-rata refund upon written confirmation from you.

secondly, i have reviewed the fees added to your account and would confirm that these have bben correctly applied in accordance with the attached legal agreement. however as a gesture of goodwill and without any admission of liability on behalf of welcome financial services i am willing to refund all of these fees to help resolve your complaint.

finally i am unable to accept your offer of £25285.50 to settle the account, but taking into consideration the circumstances detailed in your various letters would be prepared to consider an increased offer.

i hope this letter goes some way in restoring your faith with welcome finance and look forward to hearing from you in due course.

 

well what a turnaround but i am still not happy the ppi was mis-sold my partner was told no ppi no loan... the offer of £25285.50 is the figure minus ppi and fees, they have still not provided a proper cca just a one sided photocopy with no terms and conditions? they have not sent a copy of the ppi terms and conditions which we requested.

also they have a ccj for £5585, so what will happen to that now they have taken off the fees??

i need to write back so any advice would be greatly appreciated...

[Alley-Cat]

well further to my comments regarding PPI and Charges, Welcome have offered to pay me my charges and take it off the current loan I have with them but I have asked for it to be paid direct to myself or direct into my account not off the loan (money would be nice at the minute) however, they are playing silly buggers with the PPI claiming that it was not mis-sold as I have not at any time cancelled it or argued that it was not necessary......I will load my response from them on this later for some advice.....

[itsmeandonlyme]

This is exectly what they had done with my account, AC...and that's why i stoped payments(only 2 left)..but still...

[lindsay22]

ummm i sent a letter back today, so i await there response with regards to the ccj and the interim charging order they have on my house. they are a really nasty bunch, and do not know anything about consumer rights by the silly letters they write back.

[manecas]

hello everyone i have received my NatWest statements(i know this is welcome finance but nobody comes on my thread, so i try here)but its very confuse for me and i need someone to take a look and tell me exactly how much can i claim back from NatWest i have the pages scanned and ready to e-mail to someone wo can give me a help

is only 13 pages not to much

thank you i will keep waiting with faith and hope that someone comes and help meeeeeeeeeeeeeeeeeeeee

[carinas]

hello everyone i have received my NatWest statements(i know this is welcome finance but nobody comes on my thread, so i try here)but its very confuse for me and i need someone to take a look and tell me exactly how much can i claim back from NatWest i have the pages scanned and ready to e-mail to someone wo can give me a help

is only 13 pages not to much

thank you i will keep waiting with faith and hope that someone comes and help meeeeeeeeeeeeeeeeeeeee

 

Try the Natwest section of the forum.

 

Also, i dont think you will find someone to do all the work for you. Try reading FAQ's and having a go yourself. People are here to help but not to take over, theres companies that charge 40% of your win to do that !

[LAN01]

I took out a Welcome Finance Loan back in 2001. Due to health reasons I was unable to pay it back. I ahven't heard anything from them until recently Ruthbridge started chaising me for the debt. They haven't been able to provide a CCA and have now committed an offence.

 

However whilst checking my cr files I found that Hillesden have placed a default on my file for the loan so I CCA'd them and they have supplied me with a CA.

 

I have a thread about it here:

 

http://www.consumeractiongroup.co.uk/forum/debt-collectors-debt-collection/86398-ruthbridge-ltd-hillesden-securities.html

 

I would welcome any feedback re the credit agreement Hillesden have sent as i would like to get this one sorted out one way or the other.

 

Cheers