Welcome Finance - This company needs to be banned.

[EBOY]

Not got your message sent email with pdf attachment.

[Us versus Debt]

I have a car finance financed by welcome where the car came from Ucan / Carcraft.

My agreement is different to others seen on here and although there is no date entered by us there is a date signed on behalf of Welcome for Aug 2006

 

At the top of the 2 page document it says

Progressive Financial Services Limited trading as Welcome Financial services of (nottingham address)

then the figures are as follows

 

A 6,900.00 M-R Amount of credit for goods

B 295.00 N Amount of credit for Insurances

C 7195.00 A+B Total Amount of Credit

 

duration = 48 months at 277.12

40.4 APR

 

D 12870.88 A+R+V Total amount apyable for the goods

E 530 88 N+W Total amount payable for the Insurances

F 13401.76 D+E Total Amount Payable

 

G 0.00 PPI

H 0.00 Mechanical Breakdown

I 0.00 Emergency Recovery

J 295.00 Shortfall Extra Insurance

K 0.00 Other Insurance

L blank Other

 

M 6,900.00 Cash price of goods

N 295.00 G to L (inclusive) Total cash price of insurances

O 7195.00 M+N Total Cash Price

P 0.00 Deposit cash

Q 0.00 PX allowance

R 0.00 Total Deposit

S 195.00 Acceptance Fee

T 5675.88 Finance charges for goods

U 100.00 Option Fee (?????)

V 5970.88 S+T+U Charge for credit for goods

W 235.88 Charge for credit for Insurance

X 6206.76 Total Charge for Credit

 

The agreement is over two pages, the finance figures on onw with our names on, no signatures, and the 2nd with the T&C with our signatures on. Also any ideas what the Option Fee is for?

 

Maybe I am being thick but it just doesn't seem to balance, ie the APR amount is wrong?

 

On the T&C it also gives the list ofvarious charges for letters sent out etc, and they are lower than I have read eslewhere but it could be as the agreement isdated 2006

Edited March 20, 2009 by Us versus Debt

[Millymo]

Thanks for that Pickaname that gives me plenty of ammo for tomorrow when I pay them a little visit - oh and I wasn't able to contact them tonight by phone so I think I may just charge them £25 for my visit - lol

[itrends]

Hey all.

 

Andie, or someone, would you mind having a look at this document and letting me know if it is enforceable or if I should go after welcome to claim EVERYTHING back from them? I am a bit confused

 

http://s5.tinypic.com/2saj9j5.jpg

 

I have blanked out my info.

 

THANKS!

[pickaname]

Its a very handy piece of info that.

 

This is one looooonnnnnnnggggggggg slllllooooooowwwwwwwwww death of the company.

 

Got to go to bed been a very long day.

 

Heres hoping for some news tomorrow????????

 

Good night all.

 

Get me posting on the witching hour. lol

[postggj]

us verses debt

 

it would be better if you can post your agreement

 

google photo bucket and upload with out thumb nails

 

deleate personel info but leave in the figures

 

what you have put is just numbers, it has to be laid out a certain way

 

turning in now

 

lets hope tommorow is judgement day

[postggj]

itrends

 

not forgot about you

 

give a bell in the morning

[ROMULUS04]

I have a car finance financed by welcome where the car came from Ucan / Carcraft.

My agreement is different to others seen on here and although there is no date entered by us there is a date signed on behalf of Welcome for Aug 2006

 

At the top of the 2 page document it says

Progressive Financial Services Limited trading as Welcome Financial services of (nottingham address)

then the figures are as follows

 

A 6,900.00 M-R Amount of credit for goods

B 295.00 N Amount of credit for Insurances

C 7195.00 A+B Total Amount of Credit

 

duration = 48 months at 277.12

40.4 APR

 

D 12870.88 A+R+V Total amount apyable for the goods

E 530 88 N+W Total amount payable for the Insurances

F 13401.76 D+E Total Amount Payable

 

G 0.00 PPI

H 0.00 Mechanical Breakdown

I 0.00 Emergency Recovery

J 295.00 Shortfall Extra Insurance

K 0.00 Other Insurance

L blank Other

 

M 6,900.00 Cash price of goods

N 295.00 G to L (inclusive) Total cash price of insurances

O 7195.00 M+N Total Cash Price

P 0.00 Deposit cash

Q 0.00 PX allowance

R 0.00 Total Deposit

S 195.00 Acceptance Fee

T 5675.88 Finance charges for goods

U 100.00 Option Fee (?????)

V 5970.88 S+T+U Charge for credit for goods

W 235.88 Charge for credit for Insurance

X 6206.76 Total Charge for Credit

 

The agreement is over two pages, the finance figures on onw with our names on, no signatures, and the 2nd with the T&C with our signatures on. Also any ideas what the Option Fee is for?

 

Maybe I am being thick but it just doesn't seem to balance, ie the APR amount is wrong?

 

On the T&C it also gives the list ofvarious charges for letters sent out etc, and they are lower than I have read eslewhere but it could be as the agreement isdated 2006

 

Hi your agreement sounds very simular to mine which I posted a few days back! I think the option fee is what you pay the blighters after paying everything else as a final payment to completely own the heap of crap that it will probably be after 4 years.

[pickaname]

Morning people, is today going to be the day??????

 

I have finally managed to scan my sgreemnt, could someone thats knows how to get these numbers to work out have a look please.

 

 

I have tried and tried, it is probably me and I am doing it the wrong way round!!!

 

 

 

Its the bit on the bottom too, about acceptance fee and agreement thats confusing too?

 

Roms is the same and we are not sure if that is saying they can charge on the acceptance fee?

 

Thank you.,

 

AGREEMENT

[Us versus Debt]

mine is laid out exactly the same as pickaname's one above.

 

Welcome want me to go into their local office to me to sign a new agreement to lower the current monthly payments.

[Voda]

Morning everyone,

 

9 of us already plus 5 guests.

 

PS. Wow 101 pages already !!!

 

PPS. Back later, I am going to have some toast and a cuppa tea and then catch up on last night's programmes via BBC's "I" Player

Edited March 20, 2009 by Voda
PS & PPS

[bobbydog]

just looked at lse cattles bid 1.51

is that correct

[bobbydog]

gotta fly will recap when i get home

[mojo8]

just looked at lse cattles bid 1.51

is that correct

 

 

still 1.98

 

http://www.cattles.co.uk/index.php?share_information_

[Peterbard]

Hi

Hope you don't mind me popping in

just had a look at your agreement

APR checss OK

the insurance is wihtin the Total amount of credit so it should have been optional to the purchase,I see no tick box or consent?if it was a condition of the sale then the agreement is unenforceable because the totla credit fugure is incorrect(sections127(3) (65)(9) etc.

 

Peter

[Peterbard]

mine is laid out exactly the same as pickaname's one above.

 

Welcome want me to go into their local office to me to sign a new agreement to lower the current monthly payments.

 

 

The reason they like you to sign in there office is because the agreement then has no cancellation entitlement so be vary wary of what you sign.

 

Peter

[Peterbard]

Hi

Sorry

it was the agreement on2006 i looked at not seen the one on the earlier post.

 

Peter

[tigga_1961]

Morning all, got to go out shortly so will have pages to catch up with later have a good day x

[Dipply75]

Morning all, I am gonna try my hand at the calculator but if anyone fancies having a look over my OH's agreement, the one we are really fighting, it would be much appreciated.

 

The amount listed to settle loan ac blah blah is actually the amount the salesperson told my OH he had to pay to settle my loan (which he didn't know about until that moment!) as company policy that there cannot be 2 loans at the same address (we now know as total bull). Conning Gits...but would be nice to know how their agreement stacks up also

 

Its in 2 bits:

 

http://i303.photobucket.com/albums/nn122/Dipply75/Picture.jpg

http://i303.photobucket.com/albums/nn122/Dipply75/WelcomeLoan2blanked.jpg

 

Thanks

[ROMULUS04]

Morning all, I am gonna try my hand at the calculator but if anyone fancies having a look over my OH's agreement, the one we are really fighting, it would be much appreciated.

 

The amount listed to settle loan ac blah blah is actually the amount the salesperson told my OH he had to pay to settle my loan (which he didn't know about until that moment!) as company policy that there cannot be 2 loans at the same address (we now know as total bull). Conning Gits...but would be nice to know how their agreement stacks up also

 

Its in 2 bits:

 

http://i303.photobucket.com/albums/nn122/Dipply75/Picture.jpg

http://i303.photobucket.com/albums/nn122/Dipply75/WelcomeLoan2blanked.jpg

 

Thanks

 

Hi Dipply

 

Thats funny we have a carloan and two personal loans with them all at the same address! Their not very consistant are they

[postggj]

The Wilaon case showed that the prescribed terms not only had to be there but that they had to be correct.

As far as i can see there is no guidence on these as to the peramitors involved.

The only thing i would say is that the regulations do lay out a rule that the APR must be within a range of 1%under or .1% over that that is stated on the agreement.

The APR is however not a prescribed term so you would have to argue that the apr was an indicator that the prescribed term was misstated since the interest is involved in its calculation. Which i believe has been successfuly done.

 

 

ANDI

 

GOT A REPLY FROM THE MASTER HIMSELF

 

HOPE IT HELPS

[Picador]

Millymo

 

Thank You For Your Post In Post 1964

 

Welcome To The Club

 

I second this Millymo, no offence taken, I have a wicked sense of humour and nerves of steel after my dealings with Welcome! I just wanted to clarify the reply I got incase it helps others who are being told different by NU. Why are they telling different Welcome customers different things? I told them they needed to confirm in writing as I have a court case & dispute with welcome, they obviously don't want to be involved, I thought the phrase 'Welcome....responsible for all sales issues" was very telling, but maybe that's my suspicious mind!

 

good luck with yours. x

[postggj]

ITS CALLED

 

pass the buck

 

not me guv

[andie_303]

post - explain that to me like i'm a 5 year old cos whether I'm being thick or it's just to early to engage brain I don't understand

[postggj]

take a few black coffee

 

if the apr stated has more than a 1% difference each way, up or down,

the agreement is crap, end off

 

short enough for you

 

start the calculator again

 

oh happy days me thinks knowing welcome agreements