Welcome/Makenzie Hall

[dx100uk]

yes

 

but ignore the fleecing dca

 

dx

[lincscouple]

Done. Thanks DX

[lincscouple]

FINALLY....

 

After far too long we have the information though its a little strange.

 

I have attached a PDF copy of the initial loan statement

and would be very grateful of help in what and how to claim back.

 

Secondly there appears to be another loan for a vehicle which my partner knew nothing about.

 

I am going to enter this all into excel too as I don't have a scanner at the moment.

 

Again pointers on that loan of what and how to claim back will be appreciated.

 

You may recall that in my initial post I explained that welcome had refused to accept a full and final of £2000,

saying it wasn't enough.

 

Well that was back in 2012

yet magically there is a copy of a letter supposedly sent on 23/01/2013

saying that they will accept the £2000.

 

I will amend this post and add the other spreadsheet once I have inputted it..

 

Many thanks in advance

[dx100uk]

hi ya

 

plenty of other welcome charges thread syo go read here

 

default fee

letter

telephone

 

any fixed sum £12 [or more] fee

 

dx

[dx100uk]

if the loan was a rollover did the previous have PPI or charges?

dx

[lincscouple]

Hi DX,

 

The initial loan was taken out in 2004 as a 'Home Improvement Loan', this second loan was taken out in 2005 as a 'Hire Purchase Loan' for a car looking at it.

 

The HP loan was settled in 2010 but there are a few insurances on the statement.

 

I have enclosed both worksheets in this post.

[dx100uk]

have you the agreements please scan them up/

 

welcome 1 states a - MIG payment of £1k ish

 

MIG normally means migration for an old account.

 

I see you've also been spoofed on Mech breakdown

you can get that back as PPI.

 

HPDI is HP default interest,

the shoul not be charging that

as that means you are getting charged monthly capitalisation [interest]

on top of interest charged for for being in default.

 

so inc the HPDI fee in any PENALTY charges reclaim sheets

 

dx

 

 

dx

[lincscouple]

Here is a copy of the initial agreement but nothing in the way of an agreement for the HP loan?!

[lincscouple]

OK, having had a read through a few topics I have come up with the following, please correct me if I am wrong.

 

Welcome loan 1, Home Improvement Loan, £5000 loan, £1098.79 PPI, £75 Acceptance Fee, Total Credit £6173.79.

PPI amounts to 18.02% of monthly payment, (1098.79/6098.79 * 100) so £125.93/100 * 18.02= £22.69.

 

PPI ONLY

 

I think I am right in assuming that I need the 8% simple interest spreadsheet for this PPI claim only and compound interest sheet for all the charges?

 

Assuming I am to use the simple interest sheet, I enter £22.69 on each date that a payment was actually made to welcome and not rejected, continue this through to the last payment then put the claim date into the claim to box.

 

CHARGES ONLY.

 

I have found a link that you posted before http://www.egalegal.com/compoundWindow.html I need to set rests -12, and tick the 360 day box.

In the principal box I enter the charge amount IE £20 for conversion default fee. enter the date it was levied and then the claim date. For the rate of interest I am assuming I use Welcomes rate as stated on the paperwork ie 21.6%. Once I have the figure, transfer that to a new spreadsheet then work out the next charge and so on.

 

I then need to make a claim for the PPI to be refunded and a seperate claim for the charges to be refunded.

 

Which would I proceed with first?

This PPI claim dates back to 2004.

 

I have also just read something in the case notes that may be of interest if I am reading it correctly, I will photo it and upload it in a bit as am just heading out.

[dx100uk]

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

 

CISHEET for the charges

 

 

 

claim to date is left alone is auto set to today, as it increments daily until they settle.

 

dx

[lincscouple]

Could you have a quick look through these sheets and tell me if they are correct or if I need to take items out please?

[dx100uk]

quick looks alerts me to nothing bad

 

these loans were not linked no

 

dx

[lincscouple]

No not linked at all, one was a HP loan for a car which was paid off and the other was a home improvement loan. Same customer numbers but different account numbers.

 

Do I submit all of these together with covering letters?

[dx100uk]

no.

 

sadly 4 sep claims.

 

you'll need to do the fos CQ for each PPI.

 

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html

 

and a covering letter like:

 

 

Dear Sir or Madam,

Re:

 

I am writing in relation to the above payment protection (PPI) policy which i believe was mis-sold to me in relation to my

I believe you have not treated me fairly for the following reasons;

· The PPI was added without my knowledge..

· You have been punished by the Financial Services Authority for failing to treat customers fairly and I do not believe that the PPI I bought was sold in my best interest.

Unless you can prove that the policy was fair and reasonable and that I was treated fairly when I was sold the insurance, I demand a full refund of all premiums, and subsequent interest on these payments, that I have paid in relation to this policy. I also expect 8% interest to be added to each payment I have made as this is the statutory amount a court would pay.

I look forward to your full and prompt response to this letter. If this matter is not settled within eight weeks of this letter I shall be contacting the Financial Ombudsman to investigate my complaint.

This letter is in respect of the above account that was issued by

Yours faithfully

.

.

.

or

.

.

.

.

The Complaints Department

[Lender’s address]

[Date]

Dear Sir/Madam,

Ref – policy number

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund of my premiums, plus interest paid.

I took out a £xxx loan/credit card at your [branch name] branch on [date] and also bought a payment protection policy which would cost me an extra £xxx over the life of the loan. [The name of the salesperson who sold me the policy is …] The total amount of my premiums plus interest is £ xxxx.

When I took out the loan, I was told that my application would be refused if I did not also buy a PPI policy. The Financial Services Authority’s advice to consumers is that, while it does not breach FSA guidelines, a borrower should not be refused a loan if they choose not to buy an insurance policy.

Possible additional paragraphs – include any which apply to you

[i also told your salesperson that I had adequate insurance cover through a separate income protection policy.]

 

[i said I did not need the PPI as my employer provides a generous illness and redundancy package.]

[You are not allowed to make PPI a condition of taking out the loan unless you include the costs of PPI in the quoted interest rate, which you did not do.]

[in forcing me to buy this policy, you have also breached paragraph 8.6 of the Banking Code, to which you are a signatory.]

I do not believe being forced to buy this policy as part of the loan was a fair and reasonable obligation as I did not need this insurance and said at the time of taking the loan that I did not want it.

I am requesting a full refund of all my insurance payments, plus interest, which total [£ xxx].

If I do not receive a favourable response from you I will pursue this claim through the Financial Ombudsman.

Yours faithfully,

 

.................

 

 

as for the penalty charges

 

I can see then refusing those outside 6yrs

 

however wait and see,

 

adapt this:

 

Account number................... ................ date etc

Dear Sir/Madam

Following media reports,and an investigation into credit card charges by the Office of Fair Trading,which I have recently been made aware of,I now understand,that the regime of fees which you have been applying/applied to my account in relation to late fees, and over limit charges, are unlawful at Common Law,Statute and Consumer regulations,in that they did not/do not, represent a genuine pre-estimate of your actual costs.

I would draw your attention to the terms of the contract which you agreed to at the time that this account was opened. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law,and in consideration of fair business practices and good faith.

It is my contention, that you have failed to operate my account in a manner condusive to the above,and have demonstrated a lack of fiduciary duty.

I calculate that you have taken £xxx plus £xxxx which you have charged me in interestwhich total £xxx. Additionally,you have entered a default notice against my credit record. This default occurred merely in respect of unlawful charges levied by you, or was the result of impecuniositiy’ caused directly by the taking by you of penalty charges which you had applied to my account.

In recent years,Courts have been happy to accept claims for bank charges that exceed 6 yearsicon,whilst having regards to the precedent set between KLEINWORT BENSON -v- LINCOLN CITY COUNCIL under section 32 © of the Limitation Act 1980.

Should county courticon action be needed I will be seeking to rely on this.

 

Therefore this letter requests a refund of all charges indicated including interest 14 days from the date of this letter.

I request that payment is made directly to me,by cheque,and that any refund in whole or part should not be allocated to any set off or third parties.

Should this occur,my claim will be deemed as unsettled and I will proceed to the Courts for recovery.

You now have 14 days to respond positively,and in the absence of this,I will put you on notice with a further 14 days,letter before actionicon.

I trust this clarifies my position.

 

Yours Faithfully

Enc; Schedule of charges

 

 

I pers would be keeping the 4 sep

 

and post them off individually...

 

all you need is free proof of posting from the PO counter.

 

dx

[lincscouple]

OK, thanks for that. I will adapt to suit this afternoon.

 

As previously mentioned, here are the 2 pages regarding the settlement offer that they initially refused to accept.

 

Do you understand the figures and what they are referring to?

[dx100uk]

looks like they already knew they'd fleeced you blind!

 

dx

[lincscouple]

Just a quick question, within the SAR pack from Welscum, there wasn't anything to do with the PPI whatsoever, no letters etc also nothing relating to handing the account over to DCA. Shouldn't we have been furnished with this?

[pdb1980]

Hi Mate

 

been following this one, dont worry about the DCA you will find out that they are basically the same company technically speaking hence no notification of the transfer etc I had a battle with these clowns a few years ago and won.

 

You do need to be patient when putting the claim form in, I'm not sure if its still the FSCS dealing with welcome claims as welcome were bent over a table due to their shocking practices, if it is you will be sent a questionnaire form to fill in for each PPI claim and you will only get 90% of what is owed to you.

 

Welcome have been in serious financial trouble for a while now due to their scandalous lending practices so in essence the government is bailing them out.

 

Good luck with it pal

[lincscouple]

After sending a letter stating that PPI documentation had been omitted from the SAR documents, SWMBO has received a letter this morning with this paragraph.

Would it be possible to point us in the right direction for a reply please?

 

In relation to the PPI documentation, all relevant documentation containing your data held by Welcome Finance was included within the SAR. When PPI was sold, it was sold to the main account holder. As you were not the main account holder and were therefore not covered by the insurance, policy documents do not contain your data and therefore would not be issued within the SAR. Documents would have been sent directly from the insurer to the main account holder at the date of loan inception.

 

If this is the case then surely trying to claim PPI and charges back would be impossible, on the other hand why aren't they chasing payment from the Main account holder?

 

Any help gratefully received.

[dx100uk]

are you in contact with the ex?

 

dx

[lincscouple]

It's my partners ex and no, he lives in Romania, no contact whatsoever, WFS have his address and contact numbers but because he is over there and she is here, she is the one they pester

[dx100uk]

well cant you send an sar on his behalf to get it?

 

dx

[lincscouple]

Given that they have his Romania address and that they wanted copies of her ID for the SAR, I don't see it possible.

 

Wouldn't that be fraud or ID theft?

[dx100uk]

you can still do the charges .

 

if you have the statements

 

you/we can still do the ppi spreadsheet

so thus can demonstrate that the balance will?

be covered by the sum of the two reclaims

 

thus nothing is owed by her?

 

is this the case?

 

dx

[lincscouple]

Hi and thanks for the reply. Sorry I haven't got back to you sooner but I have been ill.

 

We have the statements and I have filled out both spreadsheets,

the CI total is £1179.50 and the PPI redress is £2718.18.

The balance of the loan is £6068.74

 

They have written again with the findings of her complaint with various bits of info;

 

Firstly,

I would like to advise you that you are unable to place the account into dispute as we do not subscribe to the banking code;

therefore you are required to maintain payments regardless of any issues you feel are outstanding.

 

Your offer of £**** was duly approved and we sent a letter confirming this, waiving your rights to make a mis-sale claim against your PPI policy. I

 

can see from our systems, due to an administrative error you never received this letter.

 

An operative for WFS refused the offer as it was too little and this 'letter ' is dated a year after the offer was made!

 

I can confirm that the reduced settlement offer is still open and have enclosed the relevant paperwork for your attention. Including the PPI waiver form.

 

Given that they will accept £2000 to settle the debt, would it be possible to ask them to just wipe the debt due to the PPI and charges amounting to nearly 4k or am I still high on pain relief?