Welcome Finance

[maybelline]

sadly it sounds like you have been stung in the same way many have by WF. I would say start with data protecion act request for all your information, this will cost you £10, when you get all your information add up the costs and clain then back. as for the MIG this is only requied on hgh ltv i.e. over 75% of value (equity) it is also called a HLC or higher lending charge. you could start with the unfair charges and then go for the mig or do it altogether. I would post up the agreement, cover your personal details over first, and you may find your agreement is actually not worth the paper it is written on either? look at the consumer credit agreements thread for more on this. work out what you want to achieve before making a move, good luck

[Tavmania]

Hi there Daddysam,

 

Just to let you know as an ex employee that they are scare tactics. As far as I am aware WFS have never repossesed.

 

It seems maybelline has getting some real results since I last posted on this thread, so read through the whole thread and take her advise.

 

If you are currently in arrears it is important you come up with some agreement with them without signing anything.

[itsmeandonlyme]

Hi there Daddysam,

 

Just to let you know as an ex employee that they are scare tactics. As far as I am aware WFS have never repossesed.

 

It seems maybelline has getting some real results since I last posted on this thread, so read through the whole thread and take her advise.

 

If you are currently in arrears it is important you come up with some agreement with them without signing anything.

 

Hello Tav,

 

do you know if WF ever attend the court for the mis-selling PPI, extortionate credit, not properly executed agreement?

 

Thank you.

 

Kind regards,

 

Itsme

[maybelline]

I am guessing no is the answer to this Itsme, I cannot imagine their agreements standing up in court and a repossission order galvanises most people into action, and brings support that is hitherto not available, then they discover their true rights!

[cateeyre]

Hi i need serious help with this company, four years ago i was in a bad relationship with a guy who forced me to take out a loan with him, this was to pay off his car finance, also provided through welcome..

The loan was secured on my property, and £12k was borrowed, the other party then ran off with another woman and about £4k the rest paid off the car finance, i struggled to pay £400 per month then fell behind, cleverly the insurance was taken out in his name only so when i lost my job i couldnt claim, the amount outstanding is around £25k now, i havent paid anything to them and risk losing my home, He hasnt paid a penny and cannot be located even though he is first charge on the loan but its secured on my property, i dont know what to do no one wants to help and i dont want to have to sell my house to pay off all this money i havent had a penny of, Welcome have sent my details to head office and i never recieve any correspondance from them, should i contact them and offer £10k to settle do you think they would agree to this.

[maybelline]

very sorry to hear what you have been going through cateeyre, I would send a subject access request and get all your details from head office and think about claiming back the unfair charges they may have been applying to the account. It seems very strange that the insurance was in his name only when the loan was joint, another [problem] by WF no doubt, I think 10K is alot to offer for settlement when you dont know yet if everything they say you owe them is accurate. I would write immediately to say you are in dispute with them, ask for copy agreements using the CCA request letter and send the £1 also for this. this should put any action they have in mind on hold.

[cateeyre]

Cheers thanks for this advice i'll get on with this straight away, i just feel as its a secured loan no one wants to help...

[maybelline]

have a read through some of the welcome threads, a lot of people are stuck with their secured loans with lots of dodgy insurance and fees applied, we are challenging them, report them to the regulators if necessary, OFT, FSA or whoever.

[maybelline]

WF defence, Under sub heading Common Law of Penalites' (what is this?)the charges are a genuine pre-estimate of loss suffered by the defendant and therefore cannot be deemed to be penalties.

 

under Supply of Goods and Services Act 1982 - section 15 - 'where under a contract for the supply of a service, the consideration for the service is not determined by the conract, left to be determined in the maner agreed in the contract or determined by the course of dealing between the parties, there is an implied term that the party contracting with the supplier will pay a reasonable charge.

 

It can be seen that section 15 provides a way of ascertaining the price payable for a service when the contract makes no provision and where there isno other legally recognisable way of determining the price. the charges were clearly ascertainable to the claimant in teh conditions, so the defendants contends that section 15 is inapplicable'

 

IMHO Idont think this is correct, any thoughts?

[maybelline]

Hello Tav,

 

do you know if WF ever attend the court for the mis-selling PPI, extortionate credit, not properly executed agreement?

 

Thank you.

 

Kind regards,

 

Itsme

 

Hi Itsme, did you get an answer to this query? is so would love to know, :)

[maybelline]

If the court offers mediation service, is it wise to accept it and/or will it affect the case??

[itsmeandonlyme]

If the court offers mediation service, is it wise to accept it and/or will it affect the case??

I didn't ....i do not think WF will turn up anyways:)))))

The ex WF employee didn't reply:)))never mind...still waiting for the reply from court.....

 

xx

[maybelline]

this was offered to me, but I wondered if anyone else had been this route, personally I am not thinking this is doable since I need to put in my insurance claims yet.

 

do you have a date for your hearing, very good luck for it

[itsmeandonlyme]

No...not yet....court received my amended POC on 17th of May....i had received a confirmation...so just waiting:)))

 

 

Kind regards,

[christhesparky]

just a quick question, i recently cca'd welcome regarding an old loan, which was issued without my knowledge (to reduce arrears on a previous loan) by the local collections unit. however as this was issued without my knowledge and as yet have not produced a signed agreement yet (9 Days and counting) or sent me a statements showing the current balance, can i cancel the direct debit when the cca time is up?

[maybelline]

I think you need to get to the bottom of what this loan issued without your knowledge, try doing the data subject request, fee is £10 but make sure you ask for all the information, transactions, etc, they have on you. It is my understanding while the account is in dispute, tell them in writing you are disputing their claim you owe this mystery account, that they cannot default you, add interest or charges to the account. once you know what you are dealing with, try to figure out what you want to achieve and then come back for more info, template letters etc, good luck.

http://www.consumeractiongroup.co.uk/forum/general/33174-consumer-credit-act-agreements.html#post258846

see this thread for consumer credit agreements and what is enforceable and so on.

[Bob_and_Wendy]

I have read elsewhere that if MIG and acceptance fees are added to the loan that this breaches regs and can therefore be claimed back. Is this correct

[maybelline]

that is correct re the acceptance fee, but there are usually other reasons for claiming these back also, (if paid already) as opposed to discontinuing payment. my understanding is that MIG should never be applied to loans under 75% of the value of the property, see all the other threads on Welcome finance as there are some good points and links on this issue.

 

It should never get charged if you are borrowing less than 75% of the properties value. For example, house purchase £100,000 deposit £25,000, mortgage £75,000.

Mortgage pitfalls | Higher lending charges

So what is Mortgage Indemnity, it gives the lender some added security against default

[maybelline]

waiting for hearing date....................

[mich7k]

Welcome Car Finance

Hi im new

Does anyone have the address for the head office for Welcome in nottingham pls? Having real problems with the local offices with the stalking for payments i have told them i am with holding payment until they can tell me what the fees are for as there is not breakdown charges range from £5 to £400 plus was mis-sold ppi insurance when we bought the car told we had to have it in order to get the car, any ideas folks?

[maybelline]

I think there is a sticky with their details on the intro thread, you need put that you are in disupute in writing asap as you will need it when and if it comes to a court hearing.

[The cobbett slayer]

Funny - got it right in front of me!

 

Welcome Financial Services Ltd

Mere Way

Ruddington Fields Business Park

Ruddington

Nottingham

NG11 6NZ

[mich7k]

Thanks i have sent letter registered post to Paul Hibbert watch this space

[maybelline]

it is now 7 weeks from n1 submission, no court date yet?

[itsmeandonlyme]

Dear May,

ring them..sometimes courts are so busy...they will let you know...

 

x