Welcome Finance - This company needs to be banned.

[andie_303]

eeeezzzyyy, the only thing is the monkeys at the local offices don't have a clue about what the organ grinders have been up to - they probably can't spell SAR let alone know what one is

[eeeezzzyy]

Things are getting bleaker by the day for Cattles....sooo im not holding out too much hope of a quick turnaround for my SAR !!!!!

[082stewie]

Has anyone, and I mean anyone ever claimed PPI with Welcome and had it paid? Or do they just re-jigg the loan to lock you in for a longer term and overall higher payback and calculate interest on previous loans ontop of interest on the new loan. In essence double interest on the same amount?

 

Post, I will have a look for the IPT in the morning and revert back. I think I know exactly where you going with this! Good point..

 

Stewie

[andie_303]

they got my request months ago and are still ignoring it...but when you're ignored you start digging and look what sh*t that ignorance of me has got them in

 

Stewie - you got a statement of price you load up on here - I've got some people working on something already had 4 looked at and all I can say at the minute is a pattern is emerging

 

another cagger madhafu is supposed to be getting his refunded at the minute as DG have invalidated his policy but from what he's been telling me it's VERY complicated...i wonder why???

[082stewie]

Andie, I’m in the same boat as you are. Started off just wanted the PPI scrapped and given back or credited to the loan balance. But due to poor customer service and mistake after mistake it made me want to start digging and looking. And the peach Postggj delivered yesterday has thrust everything into question.

 

I am starting to suspect the issues at Cattles at the moment are due to all of this! The impairments and the multiple suspensions of Directors and Delloits going back two years into the numbers is WAY WAY to suspect to just be simple accounting issues. And directors who have nothing to do with numbers are suspended?? The compliance Director is under suspension to...That’s fishy!

 

I wouldnt be surprised if Welcome makes it over the next few weeks if new loans suddenly appear on peoples door mats with a great offer of a lower APR, just sign here type thing!!

 

That’s my conspiracy theory

 

[eeeezzzyy]

Im just curious as to what the next few weeks/possibly months hold for Welcome...with obviously massive financial problems, internal fraud, misselling, PPi's that arent worth the paper they are written on...Oh and a £500m loan repayment looming...Just wondering what others think ?

[andie_303]

Marshmellow - ok here's a couple of things you need...

1) you need a statement of price - something that shows the agreement fee is being charged interest you can get that by doing an SAR - it'll show it clear as day - though funny their agreement shows it nowhere.

 

2) once you have that you can send them a letter putting the account in to dispute

 

3) you then cancel you direct debit and sit back and put you're feet up job done.

 

here's the letter that I did for the agreement - you will have to alter it to suit - I know others have used this template aswell so they will recognise it

Dear Sir/Madam

 

I am writing to you with regard to the above account. In reading the documents your company has provided I have come across what I believe and can prove to be a breach of the Consumer Credit Act 1974 hence rendering the above account unenforceable.

 

I have discovered from your companies paperwork that whilst my agreement shows an acceptance fee of £75 that is calculated into the overall loan total your company has failed to disclose on this document that the £75 has had an interest rate applied. This contravenes s.61 of the Consumer Credit Act 1974 and has been proved in court through Wilson V First County Trust.

 

I would also say that I feel your company has deliberately mislead their representations as the acceptance fee is clearly shown as a separate figure on the agreement (CP2) I will be referring this matter to the Financial Ombudsmen Service as I deem this to be a direct attempt to mislead the customer.

 

Therefore as this account is now unenforceable I will be cancelling my future direct debits to your company with immediate effect and request a refund of all payments made to your company before this date.

 

As this account is now in dispute you may not demand any payment on the account, nor am I obliged to offer any payment. You may not add further interest or charges to the above account nor are you to pass this account to a third party.

Lastly you may not register any information in respect of this account with a credit reference agency nor are you allowed to issue a default with regards to this account.

 

If my request is not complied with within 28 days I will have no further option to file this matter in the courts.

 

I expect a swift response to this matter

 

Yours Faithfully

[Dipply75]

Hi Postggj, Andie...pm'd you. But um, make a coffee first lol

[andie_303]

got it Dipply - thanks - loving it - hey big 10 anyone of you fancy joining in the thread? I'm sure we'd all love to hear from you

[tigga_1961]

some of the guests could be from mse as someone has posted a link to this thread, all with the best of intentions i think, but would be nice of us all to Welcome anyone with nutz that dares to speak up for or against said outfit, cant beat a bit of baiting before bed

[andie_303]

of course some will be google browsers etc but this thread has been constantly guested since yesterday - it's probably on in the compliance office all day

[tigga_1961]

of course some will be google browsers etc but this thread has been constantly guested since yesterday - it's probably on in the compliance office all day

 

oh well makes better reading than ft online. cept for caggers

[rh21]

Hi, I've just joined this site, and need to ask a question about wf.....

 

In May 2005 i purchased 25% of a house whilst a housing association owns the majority 75% to whom i pay rent.

I took out a secured loan with wf for £7500, i believe the acceptance fee has been charged interedt, but i have since heard that wf could not have secured the loan on my home as the housing association own most of my house and i have minus equity in it. Also taht wf HAVE to have permission from the housing association and/or mortgage lender to secure a loan on their home???

Would some one please be able to tell me if my loan may be unenforceable due to them obviously not carrying out their land registry checks properly?

 

Everytime the idiots call me, they always ask if i want to remortgage my house with them, as it is worth £120,000 and my mortgage balance is for £34,000. I keep telling them that it is a shared ownership property and that i have negative equity in my home.

 

Any help would be greatly appreciated!

 

I have received loads of threatening phone calls, letters and aggressive banging on my door, and would love to find a way for my loan to become unenforceable!!!

 

Thanks

[Us versus Debt]

I use 2 other well known forums that know welcome well unfortunately and there are links to this thread ton both

[082stewie]

LB and MSE?

[Us versus Debt]

no, Carcreditcomplaints and mse

[GhostDebt]

Hi all watching with interest as we have issues with welcome too.

Got pushed into lots of things, but have CCA'd them and they have just responded with irrelevant letters, so sent the account in dispute letter.

Just waiting to SAR them and then see how we can get back at them if there is time before they get swallowed by a big deep hole.

Loan on top of loan and all that stuff.... and even some PPI before then.

Ah well. Lets all step into the fray and keep the fight rolling.

p.s have got a thread on here about it.

 

Thanks for the support, this site is a blessing from the gods.....

[andie_303]

Hi Dipply did you see I got a response to me 'go sod yourself' letter about their unenforcable agreement?

[andie_303]

Well LMAO - got home today to a letter from our buddies (hey you 7 still at work? It's jobs day in the Nottingham Evening Post thought you'd have better things to do!)

 

Anyway......I thinkg it's a standard 'we are in receipt of your letter yadda yadda yadda' but it's not quite...............

despite me sending them my letter about the shi*e agreement that because of their behaviour is unenforcable - my letter does not say we are in receipt of your letter...it reads "regarding your complaint made to FOS we write to inform you yadda yadda yadda"

 

So apparently acknowledging a complaint from the person thats been paying them £190 for 2 years without fail doesn't deserve a reply - but hell a kick up the ass letter from the FOS does require a response!

 

LMAO Welcome (and guests) you've got more to worry about than the FOS on your collective asses - and with the extra bit of info and more importantly evidence I'm about to hand over for the file to HMRC & Serious Fraud Squad you really will wish you'd just paid me my PPI back - VERY expensive lesson!

 

Happy job hunting

 

 

Still laughing about the joke of a letter - I bet you're looking in to it - won't hold my breath

[082stewie]

I put in one of my posts a few days ago, I think by tomorrow Cattles will no longer be trading.

I don’t know if they will pull through.

You just have to spend an hour on any of the investor sites reading discussions about this share and its a battle ground - Investors turning on each other at every chance and then the "I’m out" every few posts. There are a few guys who are sticking to it hoping for a divine intervention. But they are in so deep it’s the only way for them to recoup losses. Heaps of people bought into the company just before Welcome tried to get its banking licence at 20p +. And now it’s under 2p. They don’t have any option but to stick it out.

Cattles is fast approaching a TOTAL value off only £10mill for the whole company with debts in excess of £2.5 BILLION!!!

There is little or NO equity left in the company. Who wants to buy into that? When a company hits this point it’s up to the short sellers and day traders to pick the carcass dry.

Stewie

[Dipply75]

I have been waiting for this for a while now.

Time: 13:16

Bid1.97

Price1.98

Previous2.09

Change-0.09

(-4.3062%)

 

Its going down at a steady pace now. Not just bumps, word on the ground on the investor boards is that the big boys are cutting losses and walking away from Cattles.

 

Will be having a beer for avery slope there tonight pmsl

[Dipply75]

Here's a thought....Direct Grup administer the policies for Welcome, that Norwich Union supposedly underwrite...kly

 

Fr Direct Group to administer these policies, be able to make decisions n claims, especially complicated ones...they must have a c opy of the full policy wording from NU, not just the summary we are supposed to be sent....I wnder if they have ANYTHING from Norwich Union at all, or si everything Welcome paperwork? Is there evidence anywhere of a contract between NU and Welcome?

 

Will pst the contact details of the man listed in the FSA register s the contact for complaints in Direct Group, for any queries you may have

[postggj]

hi all

10 guests today

 

i wonder if norwich union is giving welcome hell

seems they have had a busy morning

[Dipply75]

Here you are folks...ask away

 

Contact for:

 

307332 - Direct Group Limited

 

Contact for Complaints:Scott HoughAddress:grin:irect House

4 Sidings Court

Doncaster

South Yorkshire

DN4 5NU

Phone:

Fax:

Email:

Website:

44 01302 380 303

44 01302 380 301

[email protected] .uk

Direct Group - Where Insurance and Innovation Combine - Home Page

Contact(s) responsible for insurance mediation:Mr Scott William Hough

[andie_303]

Dipply - the letter wasn't even a 'we have received your complaint' letter it was a 'we have received a complaint from the FOS and want you to know we are looking into this as a matter of urgency.....'

 

So my letter to them doesn't warrent a reply but a kick up the ass from the FOS does...surprise surprise..