Welcome Finance - This company needs to be banned.

[Sol]

OMG! Not long then, andie?

[Forsure]

OMG! Not long then, andie?

 

Good Luck Andie - Will be watching closely for your result - Hope you get the news you are looking for

[Forsure]

We sent our SAR and CCa request over 6 weeks ago and still nothing but they continue to ring and harrass us for payment. We sent our requests directly to the compliance dept at nottingham but i suspect they may have a little more on there minds than our agreements....

 

Wouldnt hold my breath to a response to your S.A.R....and even when they do send it, it usually is a load of old c**p with the majority of it missing........

[Millymo]

RNS Number : 7036R

Cattles PLC

05 May 2009

 



 

 

 

 

5 May 2009

 

 

CATTLES PLC

Statement on Cattles Invoice Finance

Cattles plc confirms it is exploring options in relation to Cattles Invoice Finance, including a potential disposal. No firm decision has been reached and a further announcement will be made when appropriate.

 

 

- ENDS -

 

 

Enquiries:

David Postings, CEO, Cattles plc Tel: 020 7269 7252

Paul Marriott, Financial Dynamics

 

I Know this doesn't have much to do with welcome finance but it does show that things are happening behind the scenes at cattles.

Is this not strange though because I thought cattles Invoice Finance was the bit of the business that did make money??? maybe I am mistaken though

[Millymo]

5-MAY-2009 16:48

 

LONDON, May 5 (Reuters) - Troubled subprime lender Cattles said on Tuesday its looking at options for its Cattles Invoice Finance business, including a potential disposal.

 

'No firm decision has been reached and a further announcement will be made when appropriate,' it said in a statement.

 

The business provides working capital finance to small and medium-sized businesses through six offices across the UK.

 

Last week, the company said it proposed to close its direct distribution car retailer, Welcome Car Finance, to preserve cash and improve liquidity, and would cut about 130 jobs within the group.

 

The closure of Welcome Car Finance and the sale of Cattles Invoice Finance would leave Cattles with just The Lewis Group, its debt recovery and investigation service.

 

Shares in Cattles are currently suspended.

 

(Reporting by Julie Crust; editing by John Bowker) Keywords: CATTLES DISPOSAL

 

([email protected]; +44 207 542 3847)

[Millymo]

5-MAY-2009 16:48

 

 

The closure of Welcome Car Finance and the sale of Cattles Invoice Finance would leave Cattles with just The Lewis Group, its debt recovery and investigation service

 

would it not also leave it with welcome financial services?????????

[zaidey]

update to my post

 

Welcome finance help!!!

 

 

happy days:D

[rach8736]

Can anybody give me a link to S.A.R template.should i send it to the local office,i phoned and asked for copies of my agreements and got them within a week.

[Dipply75]

Hi all, god I've missed being on here

 

Been trying to keep up with the thread and have to say I am disgusted with the peeing about by NU...who do they think they are?!

 

I finally received a reply from the FSA yesterday about authorised agents, what they actually do and why Welcome do not appear listed for NU but they obviously did not read my question so asked specifics again, wait and see.

 

I cannot believe they put in writing that what their sales agent gets up to is nothing to do with them, take it up with Welcome (but we wil quite happily accept the dirty money without question).

 

Anyway, hope you are all well, be annoying you all daily again lol

[Dipply75]

Hi Rach8736, this is the SAR template I use, amend to suit:

 

DATA PROTECTION ACT 1998

SUBJECT ACCESS REQUEST

 

Dear Sir/Madam

Your name:

Account No/ No’s:

 

I understand that you currently hold details of my personal and financial information within your internal record systems with regard to personal loan accounts.

Please supply me with a complete list of transaction and charges relating to my history with your organization, INCLUDING Loans, payment protection insurance and other products. Alternatively a complete set of statements for the accounts or associated accounts is acceptable. I would be grateful if you would provide the following for ALL accounts or associated accounts I have held with your organization:

-Full copies of all contracts which you believe exist or have existed between myself and your organization, including true copies of any documents you hold in support of the same.

 

- A complete list of all transactions or statements relating to ALL of my Loan Accounts with your organization.

 

-Copies of all documents which include any of my personal information including copies of any contacts or invoices, emails or computer records containing my personal information, or any records which pertain to this information.

 

-Full copies or transcripts of any correspondence in postal, email or any other format which you have entered into with any individual, organization or third party which contains my personal or financial, or which pertains to me.

 

- Where any previous information or records held have been deleted or disposed of, the methods used to do so, including dates, certificates or references confirming details of destruction. Where you are unable to provide such certificates, please provide a declaration, signed by an authorised officer of your company, confirming the dates and methods of destruction of this data.

 

-Full hard copy print outs of my personal or financial information, held in a digital, magnetic or any other format which is held in any archives, backups or other storage devices / locations.

 

I enclose a cheque in the sum of £10 to cover your fee.

 

IF YOU UNABLE TO DEAL WITH THIS REQUEST, YOU SHOULD IMMEDIATELY FORWARD IT TO THE PERSON WITHIN YOUR ORGANISATION RESPONSIBLE FOR DATA PROTECTION.

 

I look forward to hearing from you in the first instance of receipt.

[Millymo]

This was posted on a factoring blog re: Cattles Invoice Finance. I know again it doesn't directly involve welcome finance but it is an interesting point. Are cattles directors ready to jump ship with the only part of the business that is making money????? Again I am not that sure on these matters so someone please correct me if I am wrong

 

Absolute Invoice Finance

 

Two weeks ago the domain name absoluteinvoicefinance.co.uk was registered to Nick McAvoy using the address of Cattles Invoice Finance in Yorkshire.

Is this to be the new company name if the sale of the factoring company ever goes through or have the Cattles management decided to prepare to jump ship in case the continued stalling proves terminal.

Posted under Cattles Invoice Finance

[mojo8]

This was posted on a factoring blog re: Cattles Invoice Finance. I know again it doesn't directly involve welcome finance but it is an interesting point. Are cattles directors ready to jump ship with the only part of the business that is making money????? Again I am not that sure on these matters so someone please correct me if I am wrong

 

Absolute Invoice Finance

 

Two weeks ago the domain name absoluteinvoicefinance.co.uk was registered to Nick McAvoy using the address of Cattles Invoice Finance in Yorkshire.

Is this to be the new company name if the sale of the factoring company ever goes through or have the Cattles management decided to prepare to jump ship in case the continued stalling proves terminal.

Posted under Cattles Invoice Finance

 

sounds like cattles invoice factoring will liquidate and a new business set up on the same premises and with a new owner, probrabley even retain the old phone number so they can trade with current customers, but even so, they will still need funds to factor invoices with and cattles has none.

[JonCris]

Well at least RBS & HSBC will be better to deal with than Welcome Finance.

 

I hope !!!

 

You CANNOT be serious

[Forsure]

Well at least RBS & HSBC will be better to deal with than Welcome Finance.

 

I hope !!!

 

 

Keep hoping !!! They're all as bad as each other !!

[Forsure]

11 guests ?? Wow !!

[JonCris]

dontcha think Welcome Finance should change their name to 'Good-by' Finance:D

[zaidey]

dontcha think Welcome Finance should change their name to 'Good-by' Finance:D

 

i lol 'ed

[dadofholly]

Hi all

 

Can anyone tell me what the effect of undeclared commision would have on my agreement.

 

When i complained about the misselling of PPI with welcome, via the compliance dept, i got a reply saying that they only provided the finance and that i should go back to the broker.

 

Spoke to broker today and he told me that the ppi was arranged by welcome, and is a welcome product. He said once the paperwork is signed he gets no further info from Welcome at all, and that includes the ppi etc.

 

I asked him if they were paid commisions by welcome and he said yes. He never charges customers for finding finance deals and that welcome paid him commisions on his deals. He was very helpful and told me to call anytime if i needed any info.

 

Now this commision thing is something ive heard about before on this thread.... how does it effect my agreement? can i use it against welcome? and if so how?

 

The agreement was taken out in early 2006 in case the date makes a difference

Edited May 6, 2009 by dadofholly
extra info

[Millymo]

Has anyone noticed on LSE today their has been 1 trade under cattles? what would this be about on a suspended share?

[mojo8]

I can understand welcome being very slow on the uptake to produce information after an SAR but we sent a CCA over a month ago and they know they will get no money until we recieve it so you would think that they would get it sent out ASAP. I get a sneaking suspicion that they are checking the legality of agreements before sending them out... has anybody else been waiting a while for theirs...?!!

[mojo8]

just had a strange message left by welcome. As i said a little earlier i have sent off a SAR and a CCA but no reply yet but the message says... HI its *** from welcome and im calling reference your complaint..... i havent made a complaint, i have requested docs... im wondering if they have my agreement or not as you would think they would send the docs wouldnt you... i just find the message a bit strange.

[andie_303]

Hi all

 

Can anyone tell me what the effect of undeclared commision would have on my agreement.

 

When i complained about the misselling of PPI with welcome, via the compliance dept, i got a reply saying that they only provided the finance and that i should go back to the broker.

 

Spoke to broker today and he told me that the ppi was arranged by welcome, and is a welcome product. He said once the paperwork is signed he gets no further info from Welcome at all, and that includes the ppi etc.

 

I asked him if they were paid commisions by welcome and he said yes. He never charges customers for finding finance deals and that welcome paid him commisions on his deals. He was very helpful and told me to call anytime if i needed any info.

 

Now this commision thing is something ive heard about before on this thread.... how does it effect my agreement? can i use it against welcome? and if so how?

 

The agreement was taken out in early 2006 in case the date makes a difference

 

Get that in writing - how much and when it was paid!

 

Get in writing as well that Welcome sent paperwork with PPI included and broker had nothing to do with it.

 

Once you have that you have all the ammo you need to nail Welcome to the wall

[andie_303]

just had a strange message left by welcome. As i said a little earlier i have sent off a SAR and a CCA but no reply yet but the message says... HI its *** from welcome and im calling reference your complaint..... i havent made a complaint, i have requested docs... im wondering if they have my agreement or not as you would think they would send the docs wouldnt you... i just find the message a bit strange.

 

you would think so but this is Welcome after all - perhaps their ringing with a "once in a lifetime" settlement offer

[Sunnie2812]

I requested the CCA and sent the reply of, almost a week now.

 

My reply was thank you for requesting a SAR:|, we are dealing with it, and will be in touch shortly.

 

I only sent of the £1.00 postal order for the CCA.

 

Obviously cannot read very well..just waiting to see what turns up!!

[zaidey]

hmmm i thought welcome shares were suspended but look at this from yesterday

 

 

6 May: 1.00 p 5.88 (85.47%)

CATTLES (CTT.L)

 

 

More On CTT.L

 

lol they dropped again!!!!!!