Welcome Finance CCA

[davefirewalker]

Hi

 

Just recently I had a debt of £2700 wiped out because the agreement wasnt upto scratch.

 

it is very important that you study every aspect of the aggreement and compare it to what SHOULD be on there

 

dave

[davefirewalker]

welcome are famous for a crap service. if your cca request was worded properly they should have sent

 

1 true copy of agreement

2 terms and conditions

3 Statement of account

 

if any of these were missing or illegible they have defaulted on the request. write back and ask them to resend...remind them that the clock is still ticking

 

remember 12 working days then they are in default

 

one further calender month and they have committed an offence

 

dont take any bs

 

rgds

 

Dave

[davefirewalker]

I can't see anything on there.....at all

 

where are the figures?

where's the apr?

what repayments?

how often?

was it dated

was your sig dated

 

 

we need all this info to check everything is right!

 

just edit any personal data only.

 

you also need the t&c current at the time of signing, and a statement of account

 

Dave

 

more importantly WHERE did you sign it ? (in their office or at home?)

[davefirewalker]

Hi…

 

What you have is a non-cancellable agreement. And the law lays down certain things a doc MUST have! Below is an excerpt from the oft “non cancellable agreements” dated 2003 but will still cover your agreement

What the agreement must contain

 

1 A heading in one of the following forms of words shown prominently on the first

page:

Hire-Purchase Agreement regulated by the Consumer Credit Act 1974

or

Conditional Sale Agreement regulated by the Consumer Credit Act 1974

or, in any other case,

Credit Agreement regulated by the Consumer Credit Act 1974.

 

[the heading is wrong] dave

 

Where the document embodies an agreement, of which at least one part is a credit

agreement not regulated by the Act, the word ‘partly’ must be inserted before

‘regulated’ in the heading – unless the regulated and unregulated parts of the

agreement can be clearly seen to be separate.

 

2 The name and a postal address of both trader and customer.

 

3 A description (in sufficient detail to identify it) of any security to be provided by the

customer and a description of its subject matter. The description must be in the

main agreement, but the full terms can be in a separate document referred to in

the main agreement.

 

4 Details of any default charges which the customer or a relative of his is required to

pay if he breaches the agreement.

 

[no default charges] dave

 

5 Certain financial and related particulars (see below).

 

6 Statements of certain protection and remedies provided for the customer by the

Act (see page 12).

 

[no statements of protection] dave

 

7 A signature box (see page 14).

Office of Fair Trading 7

 

Also

 

 

2 The amount of any advance payment. This includes a deposit, any amount

allowed for part exchange and any other payment the customer has to make

before being provided with credit or before entering into the credit agreement.

 

3 The amount of credit to be provided under a fixed-sum agreement (for example, a

cash loan) or particulars of the credit limit under a running-account agreement (for

example, a credit card).

The credit limit can be expressed as:

a a sum of money

b a statement that the trader will, under the agreement, periodically determine

the credit limit and notify the customer

c a sum of money together with a statement that the trader may, under the

agreement, periodically vary the credit limit and notify the customer, or

d if (a) (b) or © above are not appropriate, either a statement indicating how the

credit limit will be determined and notified to the customer, or a statement that

there is no credit limit.

 

4 The total charge for credit and the total amount payable by the customer in the

case of most fixed-sum agreements. The exceptions are given below. Charges

payable by the customer that form part of the total charge for credit are explained

in the booklet Credit charges and APR (see page 3). The total amount payable is

the sum of the amount of credit provided under the agreement, the total charge

for credit and any advance payments. If either the total charge for credit or the

total amount payable cannot be precisely calculated, an estimate can be shown –

provided that this and any assumptions made in the estimate are stated.

 

[ no total amount payable] dave

 

5 not relevant

 

6 The timing and amount of repayments of credit and credit charges. Timing can be

shown by one or more of the following methods:

$ the dates on which each repayment is to be made

or

$ the frequency and number of repayments together with the first repayment

date, or how this is to be calculated

 

7 The APR which must be denoted as ‘annual percentage rate of the total charge for

credit’, ‘APR’ or ‘annual percentage rate’. The only case in which APR need not be shown is in a fixed-sum agreement for credit to be spent on specified goods, land or services where the total amount payable is not more than the total cash price (that is, there are no credit charges). In that case there must be a statement indicating this.

 

-------------------------

 

Statements of customer’s protection and remedies which must be shown

Statements about the main rights of customers provided by the Act must be included in

the agreement in the form set out in Appendix 1. The statement must reproduce the

specified wording. Where words are shown in capital letters they must be made more

prominent (by using capital letters, underlining, large or bold print, or in any other way)

than any other lettering in the form, and no less prominent than any other information

in the agreement, apart from the heading, the APR, trade names, names of parties to the agreement or handwriting.

 

The agreement appears to fall down in that the

 

heading is wrong

 

no statements of protection

 

no statements of remedies

 

No other T&C

 

Total amount of loan is not shown

 

Where you aware of the PPI ?

The healthcare is part of that.

 

Anyway lots of stuff to be going on with

 

Dave

[davefirewalker]

Thanks Dave

 

Certainly a lot to digest. I will read through again before I decide how to proceed with this. Since Hillesden aren't chasing me as such I think I have a little bit of time to go through it and plan what to do next.

 

Lan

 

thanks for the click

 

it was a welcome agreement where i walked away free...they wiped off £2700 because of a crap agreement...very similar to yours

 

Dave

[davefirewalker]

APR is VERY complicated.......and is to do with compound interest

that is interest on interest....etc

 

basically the 3.5% / month is compounded on the balance. the APR is the net result over a year for comparison. the APR is not added as well.

 

if you miss a payment or two the interest added will increase very quickly.

 

try filling in the form at Financial Agreement Solutions

 

DONT pay...just use the form to check. it will tell you if everything is ok including apr.

 

Just because they can supply the agreement doesnt mean it is ok.

 

If you signed for the PPI under duress, or it wasnt explained properly...make a claim

 

you have to check your agreements very carefully including all the statements ON the document.

 

post it on here And I'll have a look...not promising anything, and I could be wrong in my assumptions. but welcome are in a lot of trouble recently because of really crap agreements.

 

Dave

[davefirewalker]

Hi lins

 

check the details again with post 22

 

wrong address....hmmm maybe not

 

no t&c....they have not complied with the cca request, if they still cant supply them then yes the doc IS improperly executed

 

but if what you say is true then the sig date and NO total amount to pay would render this at least improperly executed, and MAYBE unenforceable

 

lets see what their reply is first.... I got off with mine

 

Dave

[davefirewalker]

Hi guys...

 

if your agreements are similar you could both use the same tactics.

 

send a letter something like......

 

Dear Sirs

With regard to my alleged debt to your company, it has come to my notice that the documents sent to me after my request to view the original signed executed agreement do not seem to comply with terms laid down by the CCA 1974.

 

In that

The heading is wrong

The total amount of loan is missing

several prescribed terms are missing.

 

further you have not fully complied with my CCA request in that various relevant items are missing.

 

I believe that this agreement may be improperly executed, and may also be unenforceable.

 

I would "welcome" your reply by return (i just put that in for fun )

 

yours etc

 

Pad it out a bit or edit it and fire it of....what have you got to lose?

 

they are already out of time to supply all the relevant info for a cca request so cant collect on the debt until they do.

 

the bits that was missing is obviously the T&C...but dont tell them that

 

Dave

[davefirewalker]

Hi 120805

 

Guess what?

 

I got a letter this morning from Direct Legal and Collections telling me I may be eligible for a "LIMITED EDITION" settlement discount!!

 

I wonder what Ruthbridge would make of this? I wonder what Welcome Finance would make of this considering Hillesden say they are acting on behalf of their clients Welcome!

 

 

 

 

they are on the ropes and they know it.......

 

Dave

[davefirewalker]

yes, it feels rather nice to know you have the upper hand and its them that are struggling.

 

if nothing else it takes the pressure off so you can live a normal life.

 

Dave