Welcome Finance SB debt

[Dons2008]

Afternoon all

 

the obligatory MKRR letters and texts started arriving 10 days ago... here's the background:

 

I took a WF loan in June 05 for 1.5k (unsec)which was defaulted within a few months due to job loss.

 

As I understand it the file was passed onto DCAs and I stopped receiving chase letters in summer 08.

 

The WF was on my Equifax until about mid 2011 then dropped off. The debt never showed up on CE creditfile at all.

 

Moved in 09 and heard nothing at all about or from WF. Thought the debt dropping off the CR was it.

 

Married 2 years ago and updated CR files, have worked bloody hard to get a decent CH the last 5 years.

 

Fwd to the here & now.

 

I went through a box of papers the other day,

 

something drew me to it and lo & behold,

 

the original agreement and papers are in there with the PPI papers

 

I went onto my Equifax, MKRR have applied a default dated May 2012 (some 7 years after original default date)

 

I raised an online dispute with Equifax and sent this:

 

"This account was defaulted in roughly November 2005 and I have had no contact with or by Welcome Finance,

nor made payments in the time that has elapsed between then and now.

The default has been placed upon my credit file dated 27/05/2012, some 7 years after the debt was defaulted.

 

The debt is now statute barred after 6 years, and I would like Equifax to remove this default

and I would also point out that the OFT say under their Debt Collection Guidance on statute barred debt

that "it is unfair to pursue the debt if the debtor has heard nothing from the creditor during the relevant limitation period".

 

The last correspondence/payment/acknowledgement or payment of this debt was made over six years ago

and no further acknowledgement or payment has been made since that time.

 

I believe you (MKDP) cannot provide evidence of payment or written contact from me in the relevant period under Section 5 of the Limitation Act,

and I suggest that you are unable to take any court action against me to recover the alleged amount claimed.

 

The OFT Debt Collection Guidance states further that "continuing to press for payment after a debtor has stated

that they will not be paying a debt because it is statue barred could amount to harassment contrary to section 40 (1)

of the Administration of Justice Act 1970".

 

I await your written confirmation that no further contact will be made concerning the above account

and confirmation that this matter is now closed and that the incorrectly dated default will now be removed from my credit file"

 

Reading up on MKRR and their wholesale buy-up of debts and methods of trying it on,

and also their lack of info on specific accounts I really doubt their ability to prove any payments,

communications, acknowledgement by me within the limitations timeframe;

which of course there were none, I was hiding under a rock away from it all (lol)

 

what I want to know now is, finding all the lovely PPI paperwork (roughly £977 ex interest) and believing I can reclaim it, is:

 

Should I claim now?

or

Should I wait for the default to be taken off then claim?

 

Do they have the right to offset?

Should I just be grateful to get it off my CR and not be greedy?

 

Any help/adv/info welcome.

 

Thanks in advance

[dx100uk]

reclaim the PPI for welcome

 

the debt has been sold

 

it cannot be offset against it.

 

dx

[Dons2008]

Hi dx

 

Thats' helpful, thank you

 

With regard to calculating the interest, would I use:

 

Amount of PPI / 100 x 8

 

or Amount of PPI / 100 x 8 then x amount of years since the date the PPI was sold to me?

[Hacked_Off]

Proper conmen welcome arnt they?! I had a loan with them and stopped paying. It's coming up to statute barred. Was briefly showing under closed accounts then dropped off my file. Not had a single letter about it. Very odd!

[dx100uk]

all the details are in link 1 below

 

dx

[BRIGADIER2JCS]

Was the Welcome account actually defaulted?

Welcome have been selling un-defaulted debt and applying defaults immediately prior to sale, so accounts will have a much later default date than the one perceived by the debtor who make have received a "default notice" at some point the past BUT Welcome did not actually place a default.

 

 

That entry will remain until May 2018 unless you check when you believe that it should have been defaulted then make a formal complaint to Welcome requiring them to backdate the default date.

 

 

BTW the OFT is no more the FCA is now the regulator for consumer credit matters since April 14.

[Dons2008]

Fankoo dx

 

yes, HackedOff. How long til your debt goes SB? have you any original docs?

 

I was so lucky to find my original PPI paperwork too, randomly in a box of old papers last week.

 

Time to get busy claiming and typing and numbercrunching I think.

[Dons2008]

Hi brigadier

 

Yes it was defaulted in or around the November of 2005 - so I believe it to be SB'd in November of 2011 - WF was on my equifax as default in 05 then it dropped off (and I was relieved to see that!) No CCJ or anything on my file - and correct me if I'm wrong but wouldn't Equifax step in and say "hold on, we have a record of the original default you placed for this a/c, now bog off"?

[dx100uk]

nope correct

 

it can never come back

 

once defaulted and removed after 6 yrs its gone.

 

dx

[Hacked_Off]

Fankoo dx

 

yes, HackedOff. How long til your debt goes SB? have you any original docs?

 

I was so lucky to find my original PPI paperwork too, randomly in a box of old papers last week.

 

Time to get busy claiming and typing and numbercrunching I think.

 

Around November it's sb. Yeah I have all the paperwork to with the ppi stuck pre ticked. Funny thing is I remember sending them a cca years ago, they admitted they didn't have it and i heard no more! I had one letter off scot call "on behalf if there client" demanding 4.5k!!! Considering the loan was for 1.5k, and i paid off 2, that's an awful lot of charges added on.

 

I've been pondering reclaiming the ppi but unsure as yet because the loan is still unpaid and I'm not certain it's been sold on.

[Dons2008]

I'd say do it HackedOff. You're in an advantageous position having all the paperwork to hand and before a court, you'd have the favourable view (IMHO)

 

From what has been said to me above by dx about the debt being sold on (if that's happened in your case by scotcall acting as their DCA here) you can claim your PPI (please confirm) I'd say stick a claim in now, and keep an eye on that CR file up to and in November and go all guns blazing for the £ back.

 

Thanks dx for that clarification above re once the default is gone - I need Equifax to join hands with me and tell them that's the case if they come back and try sticking it to the more recent default date.

[Hacked_Off]

I have a screen shot from when it was on my credit file under closed accounts and "settled", usually an indication of it being sold. My understanding is though once it's dropped off it can't go back on?

 

I vaguely remember them offering 1.5k on ppi and I asked for a breakdown which never came. Then I forgot about it.

[Dons2008]

I think dx will clarify the same HackedOff. Good on you for screenshotting that - make plenty of hard copies LOL

 

Restart that claim. Thats your money in their back account, right there. Ask for full disclosure too and say you wont accept any communications without it. I think I may've seen somewhere something that says they need to give full breakdown these days of it (subject to clarification - I've read so much stuff the last few days I'm blind by it all right now LOL)

[Hacked_Off]

Sadly that's the way we have to play it with welcome. They cannot be relied upon to be truthful!!

[BRIGADIER2JCS]

I have a screen shot from when it was on my credit file under closed accounts and "settled", usually an indication of it being sold. My understanding ****s though once it's dropped off it can't go back on? ****

 

I vaguely remember them offering 1.5k on ppi and I asked for a breakdown which never came. Then I forgot about it.

 

 

***Is there some misunderstanding here*** if any entry on CRA files is marked " settled" by the OC on sale to a DCA The debt will go back on the files amended with the debt purchasers details (The default date must remain the same).

[Hacked_Off]

***Is there some misunderstanding here*** if any entry on CRA files is marked " settled" by the OC on sale to a DCA The debt will go back on the files amended with the debt purchasers details (The default date must remain the same).

 

It dropped off two years ago. Never received a default notice or any bring. Even if whoever has bought it were to out a default notice on anytime soon it wouldn't be there for long.

[Dons2008]

Morning

 

Called FCSC (WF cust rels team) they want me to send marriage cert, new passport, driving licence & proof of res in before they'll send me a claim form.

 

I havent changed my ID over since marrying, not been out of the country nor needed to produce licence. would they accept ID in Maiden name?

 

Thanks in adv

[dx100uk]

claim form?

 

if they mean the ppi questionnaire use the fos one

 

dx

[Dons2008]

Hi guys

 

Re the removal of the recent dated default notice from my CR file by MKRR

 

Stewed for about 4hrs over this yesterday whilst reading all the PPI threads here and after sending a chase question on Equifax.

 

Anyway - logged in just now to Equifax's 'ask a question' portal and found a reply....

 

The default has been clarified by WFS to its original date and will be removed in this month's file submission.

 

Copy & Paste of the message below as the screenshot won't upload here...

 

"Response Administrator 17/06/2014 09.57 AM

 

Hello

 

*****I am unable to open the attachments*****

 

 

I can confirm that the defaulted account is due to be removed via our June file submission

(The file was sent on 16/6/2014)

Welcome Finance provided MKDP LLP of the default date when we purchased this account from them in April 2014

We have contacted the original creditors to clarify the correct default date.

 

Regards

 

 

Shirley"

 

A huge thank you for the advice given, and the template which I used to send them the letter.

 

I need to get my PPI claim sorted and then I can make a nice donation to you guys as a thank you.

 

 

Update on the PPI with Welcome finance:

 

Wrote off last Thursday with proof of ID, res, marriage and Saturday morning received docs back by recorded delivery and a standard note saying "thanks for the info we'll be in touch"

 

No PPI claim form.

 

Called up yesterday after post had been (nothing from them) they checked my info said the new data should've been uploaded by Friday of this week, check back then. I've mentally given them another week to respond with Claim form then I'm completing the FOS questionnaire. Mind you, they were dead speedy so far with returning my ID and docs so maybe they'll be easy to deal with throughout?

 

Does anyone have any rough idea of the timeframe in which they settle claims? Some people have been paid out in 4 weeks of contact, others have waited 8 weeks, bear in mind I have the original PPI doc and CCA to hand, with the "Did you choose PPI?" box unticked - this puts me at an advantage, right?

 

My claim figure is roughly £3215 based on the Int. rate calculated by my husband - which was £993.00 PPI; and the interest compounded since 2005. I hope I'm looking at a nice sum in total (maybe enough for a nice week away and a treat for the kids)

 

Time to sit and wait...

 

How is everyone else getting on? HackedOff, anything happening on your CR file? Heard anything from them recently?

[BRIGADIER2JCS]

You will just have to sit back and wait I think, no particular time scale applies.

[Dons2008]

cheers Brig. I hope its speedy though, but I have no right to want for too much - a couple of weeks a go I was stressed by the letters and texts coming and now the CR file is going to look spick & span again plus a possible bit of cash! Shouldnt be getting all princessy about it (but I really cannot wait to see!)

[BRIGADIER2JCS]

cheers Brig. I hope its speedy though, but I have no right to want for too much - a couple of weeks a go I was stressed by the letters and texts coming and now the CR file is going to look spick & span again plus a possible bit of cash! Shouldnt be getting all princessy about it (but I really cannot wait to see!)

 

 

Just sit back and make plans for the cash!!!

[ims21]

My claim figure is roughly £3215 based on the Int. rate calculated by my husband - which was £993.00 PPI; and the interest compounded since 2005. I hope I'm looking at a nice sum in total (maybe enough for a nice week away and a treat for the kids)

 

 

I think you may have to re-visit your calculations on this.

 

This is being dealt with by the FSCS.... is that correct (loan taken after 14 Jan 2005)?

[Dons2008]

Aye June 2005. The number given in the FCSC thread above the forum is answered with the words "Welcome Finance customer relations team, good afternoon/morning"

 

The docs were required to be sent direct to Welcome themselves at Harlow....

[Dons2008]

I think you may have to re-visit your calculations on this.

 

This is being dealt with by the FSCS.... is that correct (loan taken after 14 Jan 2005)?

 

Shall I send you the calculation my hub did for me?