Welcome Finance debt.

[anney63]

Hi DX

I have today spoken to Chris Palmer in the legal department of Welcome and requested everything be put in writing.

 

Also requested proof that they actually paid the full amount of £756 pounds ( the value of the charges) to Aktiv.

 

I requested a copy of the contractual provision which apparently is between Welcome and Aktiv.

 

I also requested the amount Aktiv actully paid for the debt. All this is very confusing. !!!!

 

I stated that as the PPI was not thier money to do as they will with and they no longer hold the debt they cannot just send it to Aktiv.

 

Should they have sold the debt withe knowledge that it was in query ???

 

HELP !!!!

[anney63]

bump !!!

[BRIGADIER2JCS]

Yes a debt can be sold at any time disputed or not the creditor considers that the dispute is not valid.

[anney63]

Ok but should they pay a 3rd party a PPI Refund and also Charges which are being refunded ????

[ims21]

Ok but should they pay a 3rd party a PPI Refund and also Charges which are being refunded ????

 

See post #23.

 

No they should not be doing that and have no right to do so.

 

Edlington Properties v J H Fenner & Co Ltd is the case law used to back this argument.

[anney63]

Brought that to thier attention Welcome ignored it and said they have contractual agreements . So waiting for the confirmation letter explaining exactly what they mean to take it further !!

[BRIGADIER2JCS]

I think Welcome are so desperate to get any money they can 'deals made with debt purchasers' I wonder?

[anney63]

Still waiting phoned today and asked where my letter is still not sent I Wonder why !!!!

[anney63]

Well what next with these people.

 

Phoned and requested that my letter be sent as promised

 

firstly last week was told it had been sent on the 8th

 

next Chris Palmer tells me it hasnt been sent at all

 

now today I find it was sent second class on 4th .

 

I know this is the letter I am waiting for as I asked that part of it be read out.

 

These people are unbelievable I have now insisted that it is sent Special Delivery so that I receive it tomorrow.

 

Miracles do happen now and again I can but hope !!!!!

[anney63]

[ATTACH=CONFIG]47006[/ATTACH]

 

This is the response from Welcome !!!!!!

[BRIGADIER2JCS]

A bit small but I find this staggering!

This needs to be before a judge so that this 'agreement' between debt purchaser and creditor can be ordered to be disclosed.

 

A statement that such an agreement exists to my mind is insufficient explanation or justification.

 

1. I would demand that AK confirms this, and challenge their right to 'buy back' if PPI is reclaimed.

2. Worth reporting to the OFT/FCA

4. Put this before FOS.

[dx100uk]

convert to PDF please

 

dx

[anney63]

Hope this works I really need some help now

Edited October 21, 2013 by anney63

[dx100uk]

you really need to take this up with the FOS now

 

its getting silly.

 

did you get to do a rollover PPI spreadsheet of both the loans?

 

and did you get the charges back but they got offset too?

dx

[anney63]

I have written to Aktiv asking for confirmation of the amount of £756 the debt has been reduced by and proof it was pai and who by . Not heard anything yet.

[dx100uk]

rollover loan details?

 

dx

[anney63]

The initial loan was only going a matter of weeks. They sent a check for charges on that one of just over £6. I have requested a copy of the remittance from Aktive for the £756 charges they received from Welcome and also a copy of the agreement which they have with Welcome to date no response. Next step FOS

[anney63]

Good afternoon,

We refer to your email received on 23rd October.

We have sent request to Welcome Financial Services requesting them to send a letter indicating that they have sold the account to ourselves, and a copy of the remittance as you have requested.

However it can take up to 6 to 8 weeks for us to receive these documents as we are not the original creditor.

Your account has been placed on hold until receive the information you requested.

With regards to the reduction in the balance of this account we had been informed by Welcome Financial Services that this account had been sold with PPI and this was the reason for the reduction in the balance.

However we can reconfirm this with them, if this is not the case.

Kind regards.

Received this mail from Aktiv. Have now responded as follows:-

A remittance is is normally sent with a payment. Therefore Aktiv should have a copy in thier possession when receiving funds or they would have no idea what or who the payment related to.

I already have confirmation from Welcome that the debt was sold to yourselves and is no longer anything to do with them. .

I actually require a copy of the agreement which states that Welcome can buy back part of the debt which relates to charges or Payment Protection Insurance.

I also require a copy of the sum actually paid for the debt.

These are all items which Aktiv should have in thier possession and therefore should be sent buy return.

Should you not forward these on I will have no alternative than to contact the OFT and the FCA

Just getting the runaround from Welcome and Aktiv

[dx100uk]

but you must already have these details

or is the sar from before this?

 

 

did your PPI claim inc rollover between the two loans?

I guess one refinanced the other?

 

dx

[anney63]

:-(I am ok with what Welcome have offered in redress

its the way they want to pay ii that is the problem.

 

They want to pay a 3rd party (Aktiv) who they sold the debt to.

 

We all know that these debts are sold at a reduced amount.

 

This being the case.

 

how do I know they have paid them the full amount for the charges £756 .

 

These are questions I have asked and been advised that they have a provision in the contract between Aktiv an themselves

that they can buy back part of the loan which relates to PPI and charges.

 

I want proof of this.

 

I also need to ascertain whether this is ethical .

[dx100uk]

ethical..legal!!

 

p'haps time to ask the fos?

 

dx

[anney63]

Just found this on th FOS website .

 

I am a bit bemused by the first sentence highlighted.

 

What does it mean

 

I am now thinking maybe they have bought the debt back how do we KNow I cant get any information from either Aktiv or Welcome ???

 

But if the debt was sold on to a third party and it cannot be bought back, or the business chooses not to buy it back, we might take a slightly different approach.

 

That is because the consumer does not owe the business money – it owes money to the third party that bought the debt instead.

When selling the debt the business made a commercial decision and accepted an agreeable price for the debt.

In those circumstances, we would usually tell the business to calculate the compensation as normal at the point it sold on the debt

– and to pay all parts of the compensation to the consumer.

 

The business should also consider the possibility that the consumer might have incurred further losses since the debt was sold on

as a result of PPI being included on their debt.

 

Based on examples of good practice we have seen,

the example below shows how a business might set out how it has calculated compensation for a mis-sold PPI policy alongside a loan that has been sold on to a third party:

[anney63]

Just looked at credit report Welcome states satisfied 30/06/2013 nothing on there at all for Aktive seems a bit weird !!!!

[BRIGADIER2JCS]

AK are slow to update files.

[anney63]

So looking at my earlier paragraph from FOS are Welcome Allowed to buy back ??