Welcome Finance - This company needs to be banned.

[traz39]

Does anyone know which branches are closing?

mansfield branch has closed:-D

[danukindebt]

A 7 year secured loan I took out in 2008 has been marked as settled on my credit file?????

Not missed any payments and five years to go on it, thinking I may now be able to refinance it at a lower apr as my equity will now be more.

May even offer 50p in the pound on the outstanding debt.

[Ricecake]

This is strange as many on here me included have had the same thing happen...and my rewrite...nowhere to be seen....

[emandcole]

Spooky...calm before the storm?

[andie_303]

Mine went from default to settled 2 weeks ago - but i thought this was a a result of something else I had going on behind the scenes....perhaps not......next month the default will probably reappear with a new date!!

 

Though out of interest for them to add another default to my account would they have to send a new default notice etc???

[IainHL]

Though out of interest for them to add another default to my account would they have to send a new default notice etc???

Technically, yes they would. But since when have Welcome ever been any good at following the proper processes?

[andie_303]

Technically, yes they would. But since when have Welcome ever been any good at following the proper processes?

 

Yes you are correct....only now there is no outstanding amount to default as Welcome and I did actually come to a settlement agreement....so in effect there is nothing for them to be able to default. There is no outstanding arrears.

 

[BLACK AND AMBER]

You should see on your paperwork, probably at bottom of letterhead that Welcome is a trading style of Progessive Financial Services. If memory serves me right, believe Head Office is Ruddington Fields, Nottingham

[Dizzle]

This is strange as many on here me included have had the same thing happen...and my rewrite...nowhere to be seen....

 

I've mentioned before on here that my refinanced loan with WF has not shown on my credit report.

 

Now here's an interesting thing for you....

 

Last week I got an alert from one of the CRA's talking about a new entry on my file from Progressive Finance, with the same reference number as my settled original loan. I thought "here we go" and checked my report only to find nothing has changed, no new entry. Nothing.

 

I wonder if there is a software conflict somewhere that's preventing a correct update .

 

Also, it's now 8 weeks since I last heard from them. Its been over 6 months since my last full monthly payment and still not defaulted.

 

I have no idea what's going on with them!

[andie_303]

I also have an alert that say status of account has changed - the alert shows the account to be in Satisfactory status i.e. no default no missed payment history but a balance still there - however the actual report shows as settled.

 

Very strange - and I'm sure that it won't stay like that forever but to know that they would have to send me a new default notice when there is now nothing to default gives me more confidence!

[postggj]

is it making the accounts more acceptable to sell

 

me thinks cattles has not long left now

[Dan Ras Ting]

It has gone very calm. I'm £183 in arrears (job upsets of late) and I haven’t had one call or one letter chasing- strange. I know my local branch has closed and when I phoned to make a payment at the end of last month (I'm 1 month behind atm) nothing was mentioned about my arrears- the guy I spoke to sounded like he was very flustered and didn’t have a clue....

I've just landed a job with a lot more money but as a result of the transition between jobs things are going to be very tight next month and other payments take priority over the ****. I'm considering using this lull in their chasing to my advantage and evening myself out at the end of June....

[Major Player]

Post - another nail hit on the head - looks like clear account manipulation, WFS appear to even be ripping off their corporate customers

[pwg6565]

Good News !!!!

 

Taxi driver wins back late payment fees

 

Page last updated at 13:08 GMT, Friday, 28 May 2010 14:08 UK

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By Ian Pollock Personal finance reporter, BBC News Mike Parry, happy at the thought of getting back £502 A Liverpool taxi driver, Mike Parry, has successfully challenged late payment fees charged on a loan.

A court in Liverpool has forced Close Premium Finance to repay him £502, including interest and costs.

Close had charged him an extra £30, on eight occasions, when he failed to make his regular repayments to the firm.

Close said it believed the court's decision was "founded on an administrative error" and would try to get the decision set aside.

But Mr Parry said: "I feel on top of the world."

"It's not a large amount of money, it was the principle of it," he added.

If any challenge to the court decision is unsuccessful, it could open the way for many other people to try to reclaim late payment charges they have had to pay on personal loans.

Test case Last year, the Supreme Court threw out a high profile challenge by the Office of Fair Trading (OFT) to the legality of bank overdraft charges.

In the light of that, the Judge at Liverpool struck out Mr Parry's original claim against Close, which had been on hold while the bank charges test case wound its way through the legal system.

Mr Parry then refined his claim, and argued that it should be reinstated.

He said that the Supreme Court ruling applied to bank overdraft charges only, not to ones imposed on other loans.

And that meant, he said, that the 1999 Unfair Terms in Consumer Contract regulations (UTCCR) could be applied to the late payment fees levied by Close, on the grounds that they were arguably unfair.

Close failed to submit a defence to this revised argument, and Mr Parry was awarded his claim by default.

This means the court did not make a ruling on his legal argument, but after bailiffs were authorised to seize property, Close agreed to pay up.

In the contract Between 2002 and 2008 Mr Parry borrowed between £2,000 and £3,000 a year from Close to pay his annual vehicle insurance premiums.

When he went overdrawn at his bank this resulted in some of his direct debits to Close being bounced.

Continue reading the main story

I didn't like their attitude, that they could justify anything by saying it was in the terms and conditions

Mike Parry

Even though the late payment fees were clearly stated in the loan's terms and conditions, Mr Parry decided in 2007 that he might be able to challenge their validity.

"At first I thought it was fair to cover their additional costs, but when I got interested in the bank charges campaign I realised it was very unlikely it cost them £30 each time to deal with me," Mr Parry said.

In 2007 Close offered to repay half the £240 fees as a gesture of goodwill, but he turned this down.

"I didn't like their attitude, that they could justify anything by saying it was in the terms and conditions," Mr Parry said.

Fairness Mr Parry was helped with his claim by the Consumer Action Group (CAG), a leading campaign group against bank overdraft charges.

Its spokesman, Marc Gander, said: "The OFT ought to come right out and tell people that the bank charges decision does not affect other types of late payment charges."

"All of these can be, and should be, assessed for fairness under the UTCCR.

"They are not covered by the exemption identified by the Supreme Court," he added.

Close Premium Finance said: "We have done everything appropriate to try to ensure a resolution to this case and have been in frequent correspondence with the customer."

"It is important to note that this judgement is not the final outcome of the case and that we are in the process of seeking to have the judgement set aside," it added.

[dx100uk]

what has this got to do with welcome....

 

might be an idea to ditch all that and just put a link to the page.

 

and p'haps elsewhere.

 

dx

[pwg6565]

what has this got to do with welcome....

 

might be an idea to ditch all that and just put a link to the page.

 

and p'haps elsewhere.

 

dx

 

Did that in a hurry while working.

 

It was this bit I wanted!!!

 

Mr Parry was helped with his claim by the Consumer Action Group (CAG), a leading campaign group against bank overdraft charges.

Its spokesman, Marc Gander, said: "The OFT ought to come right out and tell people that the bank charges decision does not affect other types of late payment charges."

"All of these can be, and should be, assessed for fairness under the UTCCR.

"They are not covered by the exemption identified by the Supreme Court," he added.

Close Premium Finance said: "We have done everything appropriate to try to ensure a resolution to this case and have been in frequent correspondence with the customer."

"It is important to note that this judgement is not the final outcome of the case and that we are in the process of seeking to have the judgement set aside," it added.

[Prudence]

Can anyone point me to a template letter to Welcome/Direct/Norwich Union for claiming back PPI please? I would really like to get this going but don't know where to start!

[dx100uk]

Can anyone point me to a template letter to Welcome/Direct/Norwich Union for claiming back PPI please? I would really like to get this going but don't know where to start!

 

have you your own thread?

 

you need to do your spreadsheets first

then look at notes for claimants stickie on the PPI forum homepage.

 

dx

[Prudence]

Hi, thankyou. Yes I have, it's

 

http://www.consumeractiongroup.co.uk/forum/legal-issues/163222-welcome-cohens-case-withdrawn-15.html#post2954105

 

It's a long thread but my post #269 gives a brief update. I want to claim back our PPI payments from them and give them some grief as they did to us. Up until the Discontinuance we paid them back around half of the amount owed (paid c£4k) so I have no idea how that works out in claiming back any PPI. It was because of them not honouring the ppi payments ('pre existing' condition that we got into trouble in the first place).

[dx100uk]

would be better to post there then.

it will get bumped by your new post.

 

basically you need to do a spreadsheet of every ACTUAL payment of PPI you PAID and the date each month it was made on

then you charge them 8% stat int from that date to the date of your claim.

 

then follow the advice on any of the many welcome PPI threads.

 

dx

Edited June 1, 2010 by dx100uk

[steven4064]

Prudence

 

You should also write and request a copy of the underwriting sheet associated with the loan. They won't send it you, but the fact that you asked and they ignored you may be useful later.

[pwg6565]

Cattles PLC: Statement re Possible Offer | Company Announcements | Investegate

[Prudence]

Thanks dx and Steven. I think the whole amount was paid upfront,included in the total credit agreement amount, so I'm not sure how that works out in terms of claiming? (as the whole amount of credit was not repaid to them, only half)

[andie_303]

Cattles PLC: Statement re Possible Offer | Company Announcements | Investegate

 

:lol: charitable trust....... shareholders to expect less than 1p!!

 

these guys have me in stitches!!

[brassed-off-2]

MMMMMMMMMMM!!!!!!

 

CHARITABLE TRUST...VERY FAMILIAR!!!!!

its like the saying Chalk and cheese...birds and bees!!!

spml and capstone...charitable trust and securitisation..lehamns and spv's...oh well here i go again!!!!!!