Jump to content


Welcome Finance - This company needs to be banned.


tightbum
style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4574 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

I don't know the figures but up to this point very few people have challenged the legality of Welcome's agreements.

 

But thanks to this website, I think there might well be many.

 

yes but how many mortals have proved them invalid, half a dozen in twenty years
Link to post
Share on other sites

  • Replies 9.6k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Posted Images

I don't know the figures but up to this point very few people have challenged the legality of Welcome's agreements.

 

But thanks to this website, I think there might well be many.

 

 

and thanks to the input of everyone here and some brilliant work by post then no matter who is authorised to collect, if an agreemnet is unenforceable it cant be collected.

Link to post
Share on other sites

Amen to that mojo8 and good to see your work on LSE ....:)

 

and thanks to the input of everyone here and some brilliant work by post then no matter who is authorised to collect, if an agreemnet is unenforceable it cant be collected.
Link to post
Share on other sites

and thanks to the input of everyone here and some brilliant work by post then no matter who is authorised to collect, if an agreemnet is unenforceable it cant be collected.

 

All good points my friend.

 

Regarding a secured loan with welcome if the administrators are called in, they would have to buy out my main mortgage to reposses me, so,,,,,,,,,,

 

Is this within the remit of a administrator???????

Take Control

! Use excel to document all your income and outgoings !

Link to post
Share on other sites

Hi Andie_303 and others.

 

Andie said that he/she would kindly have a look at my February 2008 Personal Loan Agreement and recent Personal Loan Statement for me and I uploaded details here via two attachments on March 12th via Post 659 - Page 33 of this thread.

 

See: http://www.consumeractiongroup.co.uk/forum/general-consumer-issues/109794-welcome-finance-33.html

 

It still has not been been approved by the Moderators so I have opened another Photobucket account.

 

Here are the links to these documents.

 

http://i653.photobucket.com/albums/uu257/Voda/DSC08253.jpg

 

http://i653.photobucket.com/albums/uu257/Voda/DSC08333-1.jpg

 

When you have chance Andie and anyone else who cares to have a look, I would be very grateful and please let me know what you think.

 

PS . According to the Statement, the amount of Credit Provided is £7114.63 which includes the £75 Acceptance Fee.

Edited by Voda
PS
Link to post
Share on other sites

Hi again

 

Thought I would add, last year when I decided to sell, when the property was worth something to clear my debts, with a DMP, Welcome were the only ones not to agree to anything dragging there clubs...er heels as per.

When I asked them twice for a settlement figure they sent nothing telling me to call them when the property sold, but they wanted to know the sale price, stupidly I told them, and armed with that info and my DMP figures I clarified how they worked out settlements, it thus in my case:

 

sale price - mortgage owed = our profit (oops settlement) approx £13,000 (on a £5000 loan of which I have paid, eh the £5000)

 

After they had these details they asked within pennies for the exact amount left after paying first mortgage, and only then did they give me a settlement in writing, a year previously the settlement I got from them based on me taking a loan with another company was half that incidently.

 

They obviously understand basic arithmetic only and not the whizz of mathematics that a lot of you guys do! I work as an art lecturer and find it hard to get decent crayons, maybe Welcome will be selling their supplies soon?

 

When I queried the settlement figure I was told, in writing and to paraphrase, that they have added all the interest I would have paid had the loan run it's course and the payments made in full.....hmmm

 

Loving Caggers work, really making what had been a traumatic experience, afflicting a lot of my life in recent years, a good and worthy experience, I can hold my head up high again and stop berating myself for being so bloody stupid getting involved with these cowboys. x

Link to post
Share on other sites

Quote:

Originally Posted by 082stewie viewpost.gif

Ok I am getting good at this. Ive done this over about 6 times now and do not get the same numbers. Lets leave the insurance side of things for now and just look at charge for credit and good etc "agreement for goods"

 

 

 

Goods (A) £5995

Finance Charge (F+G) £2416

Sub Tot £8411

 

 

Less Dep (B) - £995

Less Accep fee (F) - £150

 

TOTAL IS £7266 (If they had done this legit)

 

Number of Monthly Repayments:48 @23% APRMonthly Loan Repayment (£):£224.53Total amount to repay (£):£10,777.53Total Interest charged (£):£3,511.53

 

 

Work that one out???

 

Loan & APR Calculator

 

 

 

i have just sat and worked out this agreement and it does add up ok. i would ask welcome to provide a copy of the needs and demands statement from when you took out the agreement to prove they actually qualified you for it.

 

Hi Mojo,

 

If you take the monthly installment and multiply by 48 yes it adds up. But dont look at the bottom line. Take charge for goods and credit, remove deposit and acceptance fee, then use the APR calculator. The numbers DO NOT add up at all.

I need to change my avatar..But cant find a good replacement.

Link to post
Share on other sites

GOOD MORNING hope everyone slept well, today i recieved an email from welcome finance regarding account in dispute and this is the reply, think someone may of overslept a bit lol, but payout dept,??:eek:

I am out of the office until 11th March if you have any queries please contact th payout department at Willerby Hill

 

Thank You

 

Donna

Link to post
Share on other sites

Quote:

Originally Posted by 082stewie viewpost.gif

Ok I am getting good at this. Ive done this over about 6 times now and do not get the same numbers. Lets leave the insurance side of things for now and just look at charge for credit and good etc "agreement for goods"

 

 

 

Goods (A) £5995

Finance Charge (F+G) £2416

Sub Tot £8411

 

 

Less Dep (B) - £995

Less Accep fee (F) - £150

 

TOTAL IS £7266 (If they had done this legit)

 

Number of Monthly Repayments:48 @23% APRMonthly Loan Repayment (£):£224.53Total amount to repay (£):£10,777.53Total Interest charged (£):£3,511.53

 

 

Work that one out???

 

Loan & APR Calculator

 

 

 

 

 

Hi Mojo,

 

If you take the monthly installment and multiply by 48 yes it adds up. But dont look at the bottom line. Take charge for goods and credit, remove deposit and acceptance fee, then use the APR calculator. The numbers DO NOT add up at all.

 

Morning ste=u, sorry you lost me as soon as you mentioned APR

Link to post
Share on other sites

Morning postggj.

 

Phew at least you are safe and sound.

 

We were all getting worried about our experts whereabouts.

 

No news, I'm afraid.

 

morning all

 

any news

 

seems very quiet on all fronts

Link to post
Share on other sites

morning all

 

any news

 

seems very quiet on all fronts

 

 

Morning Post everyone was getting worried about you all for a while! I posted the shortfall agreement for you last but I think it includes other stuff like my agreements

Link to post
Share on other sites

Whoops,

 

Stewie has been kidnapped too ....;)

 

and they have taken his/her PC + calculator

 

 

Im here, just trying to catch up on two days work. I had a VERY long and interesting call from DG for the past 20 minutes.

 

I cant believe it, I am acctually getting to grips with the contract figures! Everything is hidden and you have to take note of the deductions listed.

 

They even move away from APR to Interest rate to confuse you!

 

Stewie

  • Haha 1

I need to change my avatar..But cant find a good replacement.

Link to post
Share on other sites

style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4574 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Guest
This topic is now closed to further replies.
  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...