Welcome Finance - This company needs to be banned.

[Voda]

Hi Postie and everyone.

 

Received a letter from WF this morning and as I have an outstanding loan with them ( account as they call it ), which has an arrears on it, they are deducting the £400 plus compensation from these arrears although this PPI refund + 8% and £100 distress compensation relates to two other loans that were settled by this other latest loan that is in arrears and has an agreed with them all charges and interest frozen and an agreed reduced monthly repayment.

 

Can they legally do this?

 

I await with interest your replies.

 

Voda

 

PS. My posts on this matter and your replies start here on Page 514 - June 11th 2010: http://www.consumeractiongroup.co.uk/forum/welcome-finance/109794-welcome-finance-514.html

 

HI VODA

 

LETS SEE WHAT THEY OFFER YOU

 

WITH 8 % ON TOP

 

I still have an oustanding loan without PPI with them, can they knock their compensation off the amount that I still owe them.

 

THE ANSWER IS NO IF THE LOANS HAVE BEEN SETTLED, THEY CAN ASK, THATS ALL:)

[dx100uk]

the 8% & the compensation goes to your pocket and they should not be touching that.

the rest [the PPI reclaim] can be used to off-set ARREARS only.

 

dx

[Voda]

Brilliant thank you.

 

I have just called them and told them I have been advised by a 3rd party just what you say .... Did not say who as I play my cards close to my chest.

 

They are consulting management and I have been asked to call them next week about it.

 

Have a great weekend.

 

What's the chances of Andy M winning Wimbledon? :-?

 

Voda

 

the 8% & the compensation goes to your pocket and they should not be touching that.

the rest [the PPI reclaim] can be used to off-set ARREARS only.

 

dx

[KieransMom]

hi, dont no if any one can help me we had car finacne with welcome in 2008 we got the half way mark and wanted to voluntarily terminate the agreement!! i went to my local bramch it was put through told it was fine so i went and bought a new car............... 2 weeks later hadnt heard anyting tried to ring my branch no answer after constantly trying i went down there to find it had closed down but no-one told me!! so i didnt no how to contact welcome 2 weeks after that a get a call saying a behind on my payments i explain it and they put throgh the vt again and again im told its ok!! then 1 week later i get a call chasing money again i explained and he informed me i couldnt do the vt as i defaulted in november much to my suprise as i no i never have and have never recieved a letter saying this.... i told the "manager" that if he wouldnt allow me to vt i wouldnt be paying them anymore money as i had a new car and the car would either be sold or just sit there and rot!! he advised me to send a letter stating all my problems i did 3 weeks ago recorded delivery and havent heard a thing from them apart from a letter telling me my branch had closed i recieved the letter last week but it was dated februaury!!

 

if anyone has any advice it would be great

thanks

[dx100uk]

hi, dont no if any one can help me we had car finacne with welcome in 2008 we got the half way mark and wanted to voluntarily terminate the agreement!! i went to my local bramch it was put through told it was fine so i went and bought a new car............... 2 weeks later hadnt heard anyting tried to ring my branch no answer after constantly trying i went down there to find it had closed down but no-one told me!! so i didnt no how to contact welcome 2 weeks after that a get a call saying a behind on my payments i explain it and they put throgh the vt again and again im told its ok!! then 1 week later i get a call chasing money again i explained and he informed me i couldnt do the vt as i defaulted in november much to my suprise as i no i never have and have never recieved a letter saying this.... i told the "manager" that if he wouldnt allow me to vt i wouldnt be paying them anymore money as i had a new car and the car would either be sold or just sit there and rot!! he advised me to send a letter stating all my problems i did 3 weeks ago recorded delivery and havent heard a thing from them apart from a letter telling me my branch had closed i recieved the letter last week but it was dated februaury!!

 

if anyone has any advice it would be great

thanks

 

you need to start your own thread.

 

dx

[KieransMom]

Sorry i dont no how to do that

[dx100uk]

Welcome Finance - The Consumer Forums

scroll down a bit

and hit the blue new thread button on the left

 

dx

 

[KieransMom]

it just says post reply

[wannabedebtfreesoon]

Click this link, it should take you straight to it

http://www.consumeractiongroup.co.uk/forum/newthread.php?do=newthread&f=248

[KieransMom]

Sorted Thanks

[Voda]

Morning,

 

I called WF this morning and the department dealing with the PPI refunds say that they cannot refund the £100 Compensation Fee and 8% offered to me but only knock it off the account arrears alongside the PPI refund.

 

They said that the PPI department set up to sort out the PPI mis-selling cannot deal with complaints such as mine but I would have to complain in writing to the general WF Customer Complaints Department in Nottingham.

This I shall do.

 

Is there a template letter I can send or should I contact the FOS and ask them what they think or should write?

 

Thanks in advance.

 

Voda

 

 

Quote:

Originally posted by Voda

 

Brilliant thank you.

 

I have just called them and told them I have been advised by a 3rd party just what you say .... Did not say who as I play my cards close to my chest.

 

They are consulting management and I have been asked to call them next week about it.

 

Have a great weekend.

 

What's the chances of Andy M winning Wimbledon?

 

Voda

 

Quote:

Originally Posted by dx100uk

the 8% & the compensation goes to your pocket and they should not be touching that.

the rest [the PPI reclaim] can be used to off-set ARREARS only.

 

dx

[Voda]

Hi again,

 

Just spoken to FOS and told them all about it.

 

They said that I should write to them with all the details and then they would let me know what they think.

 

They could not give any answer to an outcome whether good or bad !!!

 

Also they don't have any such template letter.

 

Looks like WF may well get away with it although I am still in the jock seat as it's an unsecured loan and I suppose that I could stop paying them the agreed monthly amount until I get my money back this way.

 

I would rather not go down that route though.

 

I simply want a cheque with the distress compensation of £100.00 plus 8% interest.

 

Any thoughts guys?

 

Voda

[Voda]

Hi again,

Edited July 5, 2010 by Voda
Duplicate post

[Voda]

Hi again,

Edited July 5, 2010 by Voda
Duplicate post

[dx100uk]

Hi again,

 

Just spoken to FOS and told them all about it.

 

They said that I should write to them with all the details and then they would let me know what they think.

 

They could not give any answer to an outcome whether good or bad !!!

 

Also they don't have any such template letter.

 

Looks like WF may well get away with it although I am still in the jock seat as it's an unsecured loan and I suppose that I could stop paying them the agreed monthly amount until I get my money back this way.

 

I would rather not go down that route though.

 

I simply want a cheque with the distress compensation of £100.00 plus 8% interest.

 

Any thoughts guys?

 

Voda

 

how can someone have 310 posts without having their own thread.....

 

this really makes it diff to find out what has been advised and what has not.

 

the 8% stat is restitution as YOU have been deprived of the money they have unlawfully had from you.

 

as for 'what' the £100 compensation is..i cant see.

 

i'm certainly not looking through 170+ pages.

 

this thread needs closing and used for REFERENCE ONLY NOW.

 

with a note at the bottom pointing to a link

to click here to the start your own thread button!

 

dx

 

 

 

dx

[todd390]

Offer to pay them a £1 a week.

I'm lucky I paid them off but it took them 18 months to write to me to say the account was settled. I did get a letter telling me I owed more but sorted it. Now I am trying to get them to alter a comment on my credit report from 6 late payments to satisfied. They are by far the worst finance company in the world, run by idiots.

[Voda]

Hi,

 

My 310 posts are not relating to this matter.

 

I first started talking about this matter on

 

11th June 2010, 20:28 #10262

 

However,I do appreciate what you have just said though.

 

However I need to know whether WF are doing something legal or illegal relating to this matter so I will now leave the matter with professional advisers such as the Citizens Advice Bureau and FOS.

 

I will send them all the letters that I have received from WF and they can take it from here.

 

I will not continue to discuss this matter on here anymore.

 

In the meantime I am looking into whether I should witheld paying them any more money.

 

Take care

 

Voda

 

PS. The £100 Compensation is an award by WF for any distress and inconvenience as per their letter.

 

how can someone have 310 posts without having their own thread.....

 

this really makes it diff to find out what has been advised and what has not.

 

the 8% stat is restitution as YOU have been deprived of the money they have unlawfully had from you.

 

as for 'what' the £100 compensation is..i cant see.

 

i'm certainly not looking through 170+ pages.

 

this thread needs closing and used for REFERENCE ONLY NOW.

 

with a note at the bottom pointing to a link

to click here to the start your own thread button!

 

dx

 

 

 

dx

Edited July 5, 2010 by Voda
Change of script & PS

[steven4064]

Voda

 

I will repeat what I have said a number of times on this thread. The PPI may well have been mis-sold. Much more importantly, they almost certainly paid themselves a huge secret commission. This is ulnawful and potentially makes the agreement void. Ask them to send you a copy of the underwriting sheet via a SAR.

[Voda]

Hi Steven,

 

Thank you for your advice.

 

I will do that.

 

Take care

 

Voda

 

PS. The PPI that they are refunding was added to a loan in the Autumn of 2007 but was rewritten in the Spring of 2008 with no PPI on it although there is a percentage of the PPI in the rewrite amount. Does this potentially make the second loan void because if so, I do not owe them anything now.

 

PPS. The bloke that I spoke to at WF today really does not have much of a clue as he is only trained to do so much and no more. This is obviously a potentially serious matter and needs to be submitted to the FOS and CAB as I said in my previous post tonight.

 

Voda

 

I will repeat what I have said a number of times on this thread. The PPI may well have been mis-sold. Much more importantly, they almost certainly paid themselves a huge secret commission. This is ulnawful and potentially makes the agreement void. Ask them to send you a copy of the underwriting sheet via a SAR.

Edited July 5, 2010 by Voda
PS & PPS

[dx100uk]

PS. The £100 Compensation is an award by WF for any distress and inconvenience as per their letter.

 

 

hehe what little fleecers

they give you compensation, makes them look good i suppose

but they take it back again.

 

these muppets never cease to amaze me...

 

dx

[Voda]

Hiya,

 

They sure act and behave like Loansharks !!!!

 

G'rrrrrrrrrrrrrrrrrrrr

 

hehe what little fleecers

they give you compensation, makes them look good i suppose

but they take it back again.

 

these muppets never cease to amaze me...

 

dx

[steven4064]

PS. The PPI that they are refunding was added to a loan in the Autumn of 2007 but was rewritten in the Spring of 2008 with no PPI on it although there is a percentage of the PPI in the rewrite amount. Does this potentially make the second loan void because if so, I do not owe them anything now.

If you look at your statements (send for them using a SAR if you don't have them) you will almost certainly be able to show that the loan amount on the rewritten agreement contains the remains of the original loan amount, the PPI and the secret commissions. So yes, I think there is a good case to say the second loan is void.

[Voda]

Hi Steven,

 

I receive from WF a " Notice of Sums in Arrears " staement every 6 months as they are required to do so.

 

It lists the balance outstanding to them, default sums & default sums interest and the arrears total. Then it lists the past 6 months transactions.

 

It's a very basic statement.

[Voda]

Hi again Steven,

 

Right I am going to town now on this matter and SAR WF all the documents that I need. I will then write to the FOS and send them all that I have. My copies of the two loan documents are hardly legible so I will SAR them too.

 

This will give me something to really get my teeth into.

 

Thanks again

 

Voda

[edwi69]

HI ALL

ANOTHER LITTLE READ

Court of Appeal considers efficacy of subordination provisions in ...

 

 

[/url]

 

 

 

 

Edited July 6, 2010 by edwi69