Welcome Finance - This company needs to be banned.

[pickaname]

Sol I am as confused as you about the whole thing, really need to do a separate welcome folder and book mark pages.

 

Its the way the maths is done on the agreement too. Peterbard explained it pages back, from around post 2000 and up.

 

Need to go back myself and have another go at working it out.

[andie_303]

sol I've been told by a site team member agreement fee with interest is ok if written in your agreement in font that has the same size and prominence as all other t and c it's not ok if they have added it in before apr. I think the wilson case was like the 2nd example. however by my calculations which I will have to check the interest charged on mine is higher than that on my agreement. so as I have a final response from welcome and c case open with fos about this I'll prob just send to them

[scarborosmoggy]

Cattles shares are 4.23 now.

[Darwin]

The more I read the less I know.

The less I know the more I read.

 

I am soooo lost now , I am gonna go back to cat 6 wiring diagrams , its less complicated

[mojo8]

Cattles shares are 4.23 now.

 

 

i think your getting confused, thats the IQ of the investors lol

[pickaname]

Lol, Darwin, know what you mean.

 

 

Think I have understood something then a couple of posts later maybe not!!!

[sammyc1974_Derby]

sol I've been told by a site team member agreement fee with interest is ok if written in your agreement in font that has the same size and prominence as all other t and c it's not ok if they have added it in before apr. I think the wilson case was like the 2nd example. however by my calculations which I will have to check the interest charged on mine is higher than that on my agreement. so as I have a final response from welcome and c case open with fos about this I'll prob just send to them

So how can we check if its been put in before the APR, Peter checked my agreement and said the apr is correct, I'm CONFUSED NOW

[Millymo]

So how can we check if its been put in before the APR, Peter checked my agreement and said the apr is correct, I'm CONFUSED NOW

 

I am the same Sammy - Peter checked my APR and ok but welcome have definitely added the fee to advance (fee seperate on agreement) before calculating charge for interest and then added the fee onto this to get total charge for credit. I am then led to believe that the Total charge for credit and total credit is used to calculate APR. so welcome have added it in before calculating APR.

 

However welcome have written it in terms and conditions but to me it seems sneaky and underhand - anyway I have given up on this now as feel I don't understand it well enough to take it further at the minute

[scarborosmoggy]

mojo8 :o)

[andie_303]

So how can we check if its been put in before the APR, Peter checked my agreement and said the apr is correct, I'm CONFUSED NOW

 

 

If peter says the APR is correct then it hasn't been added in before APR.

[andie_303]

I am the same Sammy - Peter checked my APR and ok but welcome have definitely added the fee to advance (fee seperate on agreement) before calculating charge for interest and then added the fee onto this to get total charge for credit. I am then led to believe that the Total charge for credit and total credit is used to calculate APR. so welcome have added it in before calculating APR.

 

However welcome have written it in terms and conditions but to me it seems sneaky and underhand - anyway I have given up on this now as feel I don't understand it well enough to take it further at the minute

 

No this is not correct they will not added it in before calculating APR but they have added it in and it's subject to interest.

 

Interest charged OK as long as it's written on your agreement

Added before APR - not ok

[Voda]

Morning everyone,

 

This matter needs to be resolved as soon as possible so that everyone on here knows whether their agreement is enforceable or not .....

 

Whoops it seems that it has now as this thread is moving so fast !!!!

 

I am the same Sammy - Peter checked my APR and ok but welcome have definitely added the fee to advance (fee seperate on agreement) before calculating charge for interest and then added the fee onto this to get total charge for credit. I am then led to believe that the Total charge for credit and total credit is used to calculate APR. so welcome have added it in before calculating APR.

 

However welcome have written it in terms and conditions but to me it seems sneaky and underhand - anyway I have given up on this now as feel I don't understand it well enough to take it further at the minute

[082stewie]

I will state that if there are any insults or sarcastic remarks made here against this person they will be moderated....there are many people on these forums who would give their body parts to get some 'inside' information...it has been known that some will give witness statements in support of claims...some will even risk the anger of an ex/current employer to come to the aid of the consumer....if this person sees insults and stupid comments made against them then that person may think why do I bother, and think that these consumers are just as bad as my ex employer...and just never bother coming on to CAG again......I have issues with Welcome too. Please be patient, and please think before you make irrelevant comments....

 

 

Did you really have to post this?

[mojo8]

because of being on this thread i have re-visited an old car finance agreement that i am in court for in june. It is s long story but i wont bore you with the details just the facts, the reason i am going to court is to question the enforceability of the agreement when most of it is unlegible as its really badley printed off but its there best copy. But what i have found since has made me smile and i would like some feedback if possible. I took the finance over 48 months (4 yrs) and i specifically asked for no gap and on the bad copy of the agreement you can clearly see the option to purchas gap box, the word (NO) in bold capitalsThe agreement states that my payback term is 47 months x 213 plus one payment of £213 and i never questioned that as it totals 48 months. The finance company have sent me a statement in reply to my CCA showing £213 for insurance. that means that the term is 47 months and the gap is the last payment. Now as far as i can see i have been mis-sold gap as it does not mention it in the figures on the agreement and clearly states NO in the option to purchas box. if anybody has any thoughts or feedback on whether my assumption about unenforceability iscorrect, then i would be grateful.

[Voda]

Can someone please let us have again the formula to check APR.

 

Many thanks in advance.

[Millymo]

No this is not correct they will not added it in before calculating APR but they have added it in and it's subject to interest.

 

Interest charged OK as long as it's written on your agreement

Added before APR - not ok

 

Thanks Andie

This is why I am not taking it further - I knew I didn't understand it properly because there is so much conflicting information but I think basically Peter has checked it and it is right and it is written in terms and conditions - so I will just have to focus on the insurance issue now

[postggj]

morning all

 

i wonder if norwich union

sorry direct group and welcome will be phoning us today with our insurance questions

[mojo8]

morning all

 

i wonder if norwich union

sorry direct group and welcome will be phoning us today with our insurance questions

 

 

i wont be holding my breath

[mojo8]

just read this on another thread....brilliant

 

One day a farmer's donkey fell down into a well that the farmer

had accidentally left uncovered. The animal cried piteously for

hours as the farmer tried to figure out what to do. Finally, he

decided the animal was old, and the well needed to be covered

up anyway, so it just wasn't worth it to retrieve the animal.

 

 

He invited all his neighbours to come over and help him. They all

grabbed a shovel and began to shovel dirt into the well. At first,

the donkey realised what was happening and cried horribly. Then,

to everyone's amazement he quieted down. A few shovel loads

later, the farmer finally looked down the well. He was astonished

at what he saw. With each shovel of dirt that hit his back, the

donkey was doing something amazing. He would shake it off and

take a step up.

 

 

As the farmer's neighbours continued to shovel dirt on top of the

animal, he would shake it off and take a step up. Pretty soon,

everyone was amazed as the donkey stepped up over the edge

of the well and happily trotted off!

 

 

Life is going to shovel dirt on you, all kinds of dirt. The trick

to getting out of the well is to shake it off and take a step up.

Each of our troubles is a stepping stone. We can get out of the

deepest wells simply by not stopping, never giving up! Shake

it off and take a step up.

 

 

Now, most people think that's the end, but it isn't.

The donkey later came back and bit the sh!t out of the farmer

who had tried to bury him. The gash from the bite got infected,

and the farmer eventually died in agony from septic shock.

 

 

So the real moral from today's lesson?

When you do something wrong and try to cover your ass, it

always comes back to bite you.

[mojo8]

just read this on another thread....brilliant

 

One day a farmer's donkey fell down into a well that the farmer

had accidentally left uncovered. The animal cried piteously for

hours as the farmer tried to figure out what to do. Finally, he

decided the animal was old, and the well needed to be covered

up anyway, so it just wasn't worth it to retrieve the animal.

 

 

He invited all his neighbours to come over and help him. They all

grabbed a shovel and began to shovel dirt into the well. At first,

the donkey realised what was happening and cried horribly. Then,

to everyone's amazement he quieted down. A few shovel loads

later, the farmer finally looked down the well. He was astonished

at what he saw. With each shovel of dirt that hit his back, the

donkey was doing something amazing. He would shake it off and

take a step up.

 

 

As the farmer's neighbours continued to shovel dirt on top of the

animal, he would shake it off and take a step up. Pretty soon,

everyone was amazed as the donkey stepped up over the edge

of the well and happily trotted off!

 

 

Life is going to shovel dirt on you, all kinds of dirt. The trick

to getting out of the well is to shake it off and take a step up.

Each of our troubles is a stepping stone. We can get out of the

deepest wells simply by not stopping, never giving up! Shake

it off and take a step up.

 

 

Now, most people think that's the end, but it isn't.

The donkey later came back and bit the sh!t out of the farmer

who had tried to bury him. The gash from the bite got infected,

and the farmer eventually died in agony from septic shock.

 

 

So the real moral from today's lesson?

When you do something wrong and try to cover your ass, it

always comes back to bite you.

 

 

WELCOME, you take note of this as it will come back to bite you in the ass

[postggj]

i would like to put a note in now,

 

this thread has got some powerful people worried,

the site team has to take an interest and appear on the side lines for obviouse reasons.

 

at the end of the day, we are talking about a ftse 250 company,

billions of pounds and 5000 workers.

i myself hope they all rot but not very nice on goverment and economic figures, remember, prob an election next year.

 

there are quite a few agencies looking into welcome/cattles and some one has to bite the bullett.

 

this thread is so close to getting the answers in black and white , i can taste it,

 

when that happens, i, in person will give a copy tothe dpp, seriouse fraud, hell even herr brown himself.

 

there will be no cover up on this as the independant is waiting on the go signel.

 

i have nothing but respect for the advice from the site team, they have to look after every bodies interest as well as the site it self

 

be patient people

 

we are all most there

 

we allready have the evidence, its putting it togeather like a jigsaw

 

ONLY A FEW OF US REALY KNOW WHAT IS GOING ON BEHIND THE SCENE,

AND WE HAVE TO ABIDE BY THE LAW BEFORE CRIMINAL PROCEEDINGS

 

SUB JUD

 

RANT OVER AND MENY THANKS FOR YOUR CONTINUED SUPPORT

ran

[andie_303]

Can someone please let us have again the formula to check APR.

 

Many thanks in advance.

 

 

As a general rule of thumb take the APR and divide by 2 this should give you roughly the base rate. You need to then multiply the base rate by the number of years you have borrowed the money over.

 

example

 

£5000 over 3 years @ 7.9% apr

 

7.9 divide by 2 = 3.95 x 3 = 11.85

 

£5000 x 11.85% = £592.50

 

So total repayable is £5592.50 divide by 36 monthy payments = £155.35

 

Hope this helps

[andie_303]

morning all

 

i wonder if norwich union

sorry direct group and welcome will be phoning us today with our insurance questions

 

 

I'm thinking of ringing that number and saying hi is that welcome finance?

[082stewie]

As a general rule of thumb take the APR and divide by 2 this should give you roughly the base rate. You need to then multiply the base rate by the number of years you have borrowed the money over.

 

example

 

£5000 over 3 years @ 7.9% apr

 

7.9 divide by 2 = 3.95 x 3 = 11.85

 

£5000 x 11.85% = £592.50

 

So total repayable is £5592.50 divide by 36 monthy payments = £155.35

 

Hope this helps

 

 

Im even more confused now, this is EXACTLY why PPI is just so much more fun

[andie_303]

morning all

 

i wonder if norwich union

sorry direct group and welcome will be phoning us today with our insurance questions

 

and perhaps just to put the ladies mind at ease at DG - I'm going to ask M&S how much they pay the factory that makes their jumpers :D