Welcome Finance - This company needs to be banned.

[donnymac]

happy easter folks,

can someone look at these please,

fixed loan

total amount of credit- (b+c+d) £1621.47

amount of credit to settle loan (b) £blank

" for insurances©£621.47

" for cash advance (d)£1000

amount of credit (c+b)£621.47

amount of credit(d+b)£1000

cant understand why theres no amount to settle the loan

is this the norm.?

thanks

donny mac

[andie_303]

amount of credit to settle loan is if they refinanced an existing loan

[donnymac]

thanks andie

[postggj]

quick question pt or john chriss

 

who do you go after ref the underwriting sheets

 

would it be welcome who sold the policy

dg who addmin the policy

or

norwich union who are the so called underwriters (yet to be proven)

 

ITS JUST I HAVE AN APPOINTMENT ON TUESDAY WITH NORWICH UNION

[pt2537]

quick question pt or john chriss

 

who do you go after ref the underwriting sheets

 

would it be welcome who sold the policy

dg who addmin the policy

or

norwich union who are the so called underwriters (yet to be proven)

 

ITS JUST I HAVE AN APPOINTMENT ON TUESDAY WITH NORWICH UNION

 

It would be, hmmm, tricky this one, if we are loooking at the cost of the loan then it would be Welcome as they would have put together the loan itself

[andie_303]

postggj - great answers and insight given to me by both pt and jc today.

 

basically the Hurstanger case says Welcome should provide however in digging I have found something that tips this all back to NU let me get the article 2 secs

[andie_303]

The broker's duties

 

When a broker places insurance, it is usually assumed that he is acting as agent of the prospective insured. As agent, the broker has a legal duty to act in good faith in what he believes to be the interests of his client. This means he must account for any secret profit that he makes, and he is not allowed to put himself in a position in which his interest and duty conflict.

More specifically, an agent must not, without his client's knowledge, acquire any profit or benefit from his agency other than that contemplated by the client at the time client and agent entered into their contract. Where a broker is found to have breached a fiduciary duty, anyone knowingly assisting in the breach of that duty (such as an insurer) can also be held directly liable to the broker's client.

Brokers and intermediaries must also abide by the FSA's Handbook, including the Insurance Conduct of Business Sourcebook (ICOBS).

At the heart of the Handbook lie the high-level principles for businesses (PRIN). Particularly relevant for brokers are Principle 8, which provides that "A firm must manage conflicts of interest fairly, both between itself and its customers and between a customer and another client" and Principle 6, which requires firms to treat customers fairly.

On 1st April 2009, insurance intermediaries also became subject to new rules and guidance on the effective management of conflicts of interest which form part of the systems and controls (SYSC) section of the Handbook.

 

and I think the letter they sent me counts as 'knowing assistance'

[postggj]

ime looking to put nu on the spot and not let go

this is our only chance

[postggj]

lets see pt or john chriss comment

need to have all the facts in hand

[andie_303]

jc has looked at this and agrees this was his response on it

 

As you can see from the Out-Law link BOTH are liable if one facilitated the other in concealing the fact.......... something which NU seem to be compounding by their refusal to cooperate with you. I should point that out to NU whilst quoting directly from the OL article

[andie_303]

I emailed their CEO about it anyway and used this - going back to Welcome again with the Hurtstanger case as well though - attacking this from all angles

[postggj]

ime now glad nu gave me the cold shoulder last thursday

 

lets see them worm out of this

[postggj]

andie

 

what i would like you to do is list down all the relevent questions to ask norwich union, that way i will compare with mine

 

ill pm you my email address if you dont have it

[andie_303]

yes PM again the last one you sent didn't work

[felixfly]

FSA monitors Cattles after discovery of £700m black hole | Business | guardian.co.uk

[postggj]

andie

 

got the email

 

meny thanks

[postggj]

felixfly

 

your post ref fsa

 

they are acting on the file sent to them

 

thats one of meny files to different goverment dept

 

aint that right andie

[andie_303]

no probs hope it helps

[andie_303]

oh plenty of files doing the rounds - I have an appointment to speak with a VERY influential person regarding some aspects of what we've found. Have to wait til my case is done which won't be long.

 

Lets just say millions of people will be reading about in a few sundays time

[postggj]

just the same as me

 

gagged because of the impending court case

 

sub judi

[bobbydog]

i for one will be watching the share price tomorrow and the next few weeks

[andie_303]

Said all along the share price is not important shares will not bring this company down - investigations will

[traz39]

any idea why experian would have welcome finance on credit file but equifax have progessive finance:(

[andie_303]

has equifax been updated more recent than experian?

[postggj]

i would think in seven days they will both be under progresive financial services

 

its creative accounting again

 

check how meny month the loan is over

 

if 36 months, i bet it says 37 under welcome and not progressive