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Welcome says My £12k CCA Regulated secured Loan will now become a mortgage!


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please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Yeah I just noticed lol - And just had a quick look through the stickie.

 

Sorry to be a pain but could not find an address for HFC,

would you have any ideas where to send anything now ? :wink:

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please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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dx you are a star very much appreciated.

 

Also if you can come up with anything else re Welcome / Dial4ALoan response to FOS adjudicator plse let me know.

 

Cheers & atb

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goto this site

 

search dial

then

welcome

then cattles

 

look for the group owner and the same names occurring

 

http://www.dellam.com/cgi-bin/main.pl

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 3 weeks later...

Hi dx,

 

A belated cheers have been away. SAR sent off before I went.

 

Regarding Welcome / Dial4Aloan, still unsure how I can establish a relationship or linkage between all parties including Underwriters Aviva ?

 

Should I be contacting Aviva asking for any documentation that confirms that a commission or fee was payable to Broker / Lender

in respect of introduced business ?

 

I do have internal commission payment sheet details between Dial4ALoan and Welcome but it seems that FOS are ignoring this.

 

Also the PPI was added on the Welcome agreement but no details on any Dial4ALoan documentation ?

 

Any assistance or help from any expertise on this site would be much appreciated,

as I need to at least respond to FOS adjudicators letter before the 15th September.

 

Thanks

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So does this confirm that Welcome and Dial4ALoan were working alongside ?

Should I be sending something to Cattles ?

 

On another note and another correspondence from the lender

they quote the following regarding a query re a failed application sheet from A & T Finance

being passed on to Welcome that was submitted from a SAR ?

 

"We no longer have an Underwriting department (pressume means no-one selling loans)

due to restructure of our business and therefore any information regarding your application is difficult to obtain.

 

 

We can assume that intitially you contacted A & T for a loan as they have recorded your details.

In turn they have referred you to Dial4ALoan, who worked closely with us :???:

 

 

Dial4ALoan submitted your details to us using the application provided by A & T Finance.

We also have no records that any commission was paid to a broker on this occasion. "

 

Well I am somewhat amazed that the A & T application was submitted with the Welcome SAR and not Dial4ALoans

and I have a Welcome Finance Commission sheet showing the exact same commission / brokerage amounts as that on a Dial4ALoan stat sheet ?

 

Also details from companies house regarding company nos:133540 and 03958533 are one of the same address ?

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keep going.

 

what have you found on those numbers

 

you'll have readers now and in months to come

 

post up what you are finding

 

it might be useful

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Cheers dx

 

I will do whatever it takes with any expertise help.

 

details per numbers below

 

Name & Registered Office:

WELCOME FINANCIAL SERVICES LIMITED

WELCOME FINANCE MERE WAY, RUDDINGTON FIELDS BUSINESS PARK

RUDDINGTON

NOTTINGHAM

NG11 6NZ

Company No. 00133540

 

Status: Active

Date of Incorporation: 23/01/1914

 

Country of Origin: United Kingdom

Company Type: Private Limited Company

Nature of Business (SIC):

64921 - Credit granting by non-deposit taking finance houses and other specialist consumer credit grantors

Accounting Reference Date: 31/12

Last Accounts Made Up To: 31/12/2013 (FULL)

Next Accounts Due: 30/09/2015

Last Return Made Up To: 24/05/2014

Next Return Due: 21/06/2015

Mortgage: Number of charges: 15 ( 13 outstanding / 2 satisfied / 0 part satisfied )

Last Members List: 24/05/2014

Previous Names:

Date of change Previous Name

01/12/2006 PROGRESSIVE FINANCIAL SERVICES LIMITED

23/12/2002 TELEPLAN RENTALS LIMITED

27/10/1987 REFUGE SUPPLY COMPANY LIMITED

 

Name & Registered Office:

DIAL4ALOAN LIMITED

c/o WELCOME FINANCIAL SERVICES LIMITED

WELCOME FINANCE MERE WAY, RUDDINGTON FIELDS BUSINESS PARK

RUDDINGTON

NOTTINGHAM

NG11 6NZ

Company No. 03958533

 

Status: Active

Date of Incorporation: 28/03/2000

 

Country of Origin: United Kingdom

Company Type: Private Limited Company

Nature of Business (SIC):

64999 - Financial intermediation not elsewhere classified

Accounting Reference Date: 31/12

Last Accounts Made Up To: 31/12/2012 (FULL)

Next Accounts Due: 30/09/2014

Last Return Made Up To: 28/03/2014

Next Return Due: 25/04/2015

Mortgage: Number of charges: 1 ( 0 outstanding / 1 satisfied / 0 part satisfied )

Last Members List: 28/03/2014

Previous Names:

No previous name information has been recorded over the last 20 years.

 

Also would Dial4ALoan be classed as a credit broker / mortgage packager does anyone know ?

 

Cheers

 

Bazza

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goto

http://www.dellam.com/cgi-bin/main.pl

 

type in

 

welcome finance

 

dial4aloan

 

int reading

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 3 months later...

you could try and enforce it

but its sort of correct.

 

as for the transcripts of phonecalls

 

this is amazing that they have them from 2003

 

don't know how many times we've been told they don't ever exist.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Cheers dx.

 

So how can I enforce it without going to court ?

Is there a standard template letter requesting information apart from SAR letter ?

 

I know its very frustrating considering I have requested transcript details on numerous occasions and yet I was told that they had been destroyed or no details available ?

 

Since the FOS involvement, suddenly I am now being told that they have details and now being used in evidence against my complaint.

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have a quick chat with the FOS

this is very unfair

 

 

the ICO might want to hear of it too.

 

 

but . directly' did you sar Dial I forget?

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Cheers again dx.

 

It was the FOS adjudicator who advised me about the phone call details,

considering that I had sent SAR'S to the broker and Welcome yet no details were provided until their involvement.

 

I was continuously told that there was no details and that they had sent all that they had.

 

When FOS contacted me about the evidence now provided and that they were basing their rejection decisions on a said phone call with the broker,

I asked why details were never previously submitted.

 

FOS eventually forwarded their transcript of the conversation in question,

where there was no mention of the insurance figure of sale / coverage apart from one line 'with protection'.

Also the figure quoted for the loan was different and was some two months prior to the actual loan that we settled on.

 

I questioned why they were with-holding information and told them that I will be also asking for compensation for failure

to fully comply and the time and effort etc for the inconvenience caused.

 

Should I now submit a separate formal complaint to FOS/FCA and the ICO ?

Or should I await the ombudsman's decision first ?

 

I also put my thoughts in writing re the above and I sent copies to the adjudicator, ombudsman, broker and lender.

 

I fully believe that it was not investigated properly by the adjudicator, as dates mentioned were conflicting and totally wrong.

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await then attack if needed

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 4 weeks later...

Could some expert on here have a look at the attached Secured Loan Agreement and kindly assist in the following questions.

 

APR clearly states 20.10% but Monthly interest is 1.35 %. Surely it should be 16.20% ? If incorrect would this affect the enforceability of the agreement ?

 

Mortgage Indemnity fee charged on a secured loan below £25k - Is that correct ?

 

The loan is secured on my property by way of a charge, not by a mortgage / 2nd mortgage ?

 

Also Welcome have not provided a signed agreement that was dated by them. When would the 7 day cooling off period start from ?

 

I have been reviewing various old Welcome posts but most seem to have no conclusion, so just wanted some clarity.

 

Cheers

 

Further to my earlier post I have located comment made by Welcome in a previous correspondence regarding the APR% query by me as follows.

 

"On your agreement the APR is detailed at 20.1% and the monthly interest is 1.35%. Therefore multiplied by 12 gives an annual rate of 16.20%.

 

This is the same as the annual interest rate showing on your latest statement, there has been no amendment."

 

So on the above statement therefore would my monthly payment of £232.74 over 180 months be variable ? How can I calculate with the figures on my agreement, what interest I have been charged to-date ?

 

Should I have received a Statement of Price Payment Breakdown ?

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  • 4 months later...

Further to an old post of mine and rather than start another, could someone kindly advise if Welcome would have required my mortgage providers permission to be added as a charge to our property ?

 

Cheers for looking

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were there just the two pages of that agreement?

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

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were there just the two pages of that agreement?

 

Hi theoldrouge, there was also a legal charge sheet.

 

I was reviewing an old telephone conversation log between broker / lender and OH. There is a line mentioning that they do not have to obtain the mortgage providers permission to be added as a second or third charge.

 

Just wondered if this was legal at the time of sale.

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they would normally send a questionaire to the 1st mortgage holder

 

but on your agreement no examples of default charges amounts? and

 

no repayment examples after 1/4,1/2, and 3/4 of the agreement?

 

whats the general history of this ac? did you reclaim the ppi?

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

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OK thanks again theoldrouge.

 

Well looking at the conversation details they state in black and white that they do not have to approach the mortgage lender like other companies ?

 

Yes no details at all of any charges amounts.

 

Basically submitted PPI complaint last year, not up-held by Welcome due to sold by unlicensed broker. Passed to Financial Ombudsman, adjudicator rejected on basis that sold by broker and conversation details of September 2003 - Loan not taken out till November 2003 ? Now with the Ombudsman for their decision.

 

My argument is that their is proof of a relationship as I have commission / brokerage sheets and Welcome were regulated at time of sale.

 

On another note, I was successful with reclaiming unfair charges and the handling of my SAR and service of my account details in which I have had interest frozen for the remainder of our loan.

 

It just seems that there may be something amiss regarding the legalities of the sale for the lender to agree to the above.

 

Shall I contact my mortgage lender in the meantime asking if they ever received anything from the lender ? Or would it be something from the broker ?

 

or what information should I be asking Welcome for now ?

 

On further reviewing previous SAR details supplied there seems to be some discrepancies with dates agreements, cooling off period, so called telephone conversations details and legal documentation signatures.

 

I have today contacted my Mortgage lender and now awaiting confirmation if they were sought permission by Welcome.

 

Should I be submitting an account in dispute letter and stop making payments until all is resolved.

 

Thank-you for looking and would appreciate any comments to the above and earlier posts.

 

Cheers

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