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Welcome finance secured loan help needed **WON CHARGE REMOVED

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Hello Everyone, I have looked at many old posts but I'm still unsure how to proceed.

 

Brief History:

 

2007 - Secured loan for 7.5K

2009 Secured loan re-write due to charges and late payments

2010 Secured loan re-write due to charges and late payments.

Current balance 13K

Last payment made in 2010

 

On the last 2 loan re-writes I was never given any paperwork.

Welcome finance cannot find them and admit the loan is unenforceable.

They are also relying on the 2007 land registry charge and they claim that this covers all re writes.

 

On the last re-write a welcome colleague came round my house and pressured me into signing and also took all my documents relating to previous loan. He also said that my new loan would be un-secured. They never sent any new docs out.

 

The FOS sided with welcome in 2010 that they believe Welcome would not transfer a secured agreement into a unsecured one.

 

I have just done a SAR and it contains all my statements and conversation transcripts but no credit agreements.

 

My end goal is to remove the land registry charge and to pay back as little as possible.

I have already paid more than the original loan back.

 

Any help or guidance on the next step would be appreciated.

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Was the FOS decision from a first tier adjudicator or an Ombudsman proper ? If the former, respond saying you want your complaint escalated to an Ombudsman decision.


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Thanks for the reply.

It was a first tier back in 2010.

 

My complaint was based on the fact they had came around my house and advised it would be switched to unsecured.

 

The FOS first tier found that although they had no agreements and that the welcome staff had now left the company and couldn't give a statement it was unlikely that they would agree to switch from secured to unsecured.

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PPI & insurance on each one that were rolled over?

as well as arrears/letters/late/over/debt advise fees?

 

bet they could wipe the debt out?

then charge gone?


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Thanks for the reply dx,

I have just started going through my SAR and adding up all charges.

 

They have stated that the capitalisation charge every month is just interest. Surely not ??

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Yep interest


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can i reclaim capitalisation or this just interest? what is the best way to calculate interest from all the charges?

 

 

thank you guys

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Welcome have added £1231.11 in charges, this does not include capitalisation charges.

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Neither

Use the cisheet at their apr


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Sorry so can i reclaim capitalisation?

 

They have not sent any docments that show apr, can i use a default apr?

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No

And no wait for the sar


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i have the SAR, they don't have any CCA or documents containing APR, they haven't even sent the land registry agreement with my signature on it, just a copy of the title deed stating progressive services

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Ignore me small screen syndrome

 

They be rather crafty be welcome

If they have no signed agreement IMHO the charge should be removed

This re write syndrome is appalling

 

Seems like you are in the same as Cruz

 

I suppose you could use an avg of say 30% in the int box d15

 

Trouble is welcome are pulling the stunt that they are insolvent and have have been allowed to get some kind waiver to now avoid all claims....


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

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WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Thanks for everyone's replies,

 

I need to move forward with this.

 

Balance outstanding is 13K,

they have added charges and with interest on charges I

am looking at 3K reclaim, still leaves 10k to these idiots.

 

They have no CCA's,

they didn't send any land registry documents in the SAR

however I have checked with Land registry

and they have a charge under the name progressive finance.

 

I did sign a land registry form on my first loan but not on any of the re-writes.

 

The SAR was missing many documents,

it just contained statements and conversation history.

It didn't contain any letters that they had sent me or default notices.

 

They are refusing to remove the legal charge on my property.

 

Can I start action in the small claims court?

how would I direct this?

Can I put in a POC that the legal charge is not "legal"?

 

any ideas welcome, no pun intended. I need to get this charge removed.......

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exactly same as cruz...

 

did you sign these rewrites?

 

and that's the CISHEET and their int rate in cell d15.


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WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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No DX,

I never signed the re-writes,

they came around my house with the usual threats,

did the paperwork however I never signed,

my wife was in hospital so she couldn't have signed.

 

 

They don't have any paperwork and have accepted this,

regarding the re-writes,

they claim they can use the charge from the first agreement.

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no they cant

the re-writes agreements are unsigned.

 

 

the first agreement has been settled by the re-writes

so agreement one has been settled charge should be removed?

 

typical welcome trick.


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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That's my take DX, how do I progress through county court, final letter before action then can I start proceedings?

 

Going all the way this time, win or lose I need the charge to be removed

 

Also apologies but I cannot find the CISHEET, tried searching but cannot locate it

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PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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can you confirm how

when you have no agreements nor legal charge letters

you know the 2 re-writes were secured loans?


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Hi Dx, I don't..

... I complained to FOS a few years ago that when the guy from welcome came round my house

he said that a re-write would be un-secured.

 

I didn't sign anyway.

 

FOS sided with welcome that they wouldn't agree to making a secured loan un-secured.

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Ok Dx, well i sent a letter to Welcome stating that they hadn't fulfilled the SAR request, stating that they had not sent copies of CCA's, Default notices and Land registry charge agreements signed by myself. Just received a reply stating that they have fully complied with the SAR and all documents they hold have been sent..

 

So i have a loan secured on my property with no CCA, no legal charge document signed by myself.

 

I need to figure out what angle i tackle this at, any ideas ?

 

Baggies

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having consulted those in know

as you are both in the same boat

 

it appears that the first secured loans and its resultant charge on land registry

stands good for all the latter loans that refinanced the chain

 

as long as it was a chain till when paid off.

 

now, if through all the loans, the various insurance/penalty charges/PPIlink3.gif when calculated properly

might well give cause to persuading welcome that no balance exists now

and 'its paid off' so they might remove it.

 

discovering how much is the difficulty


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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