Welcome Finance - This company needs to be banned.

[Voda]

Hi Steven,

 

These are the SAR's that I am sending to Welcome.

 

(1) Copies of the two Loan Agreements

(2) Copy of the Underwriting Sheet relating to the 1st Loan Agreement

(3) Copies of all Statements for both Loans

 

Are there any other SAR's that I need to send as I want to get this right and provide the FOS with all the correct information so they can look into my case.

 

This should help others on here too hopefully.

 

Cheers

 

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

[dx100uk]

Hi Steven,

 

These are the SAR's that I am sending to Welcome.

 

(1) Copies of the two Loan Agreements

(2) Copy of the Underwriting Sheet relating to the 1st Loan Agreement

(3) Copies of all Statements for both Loans

 

Are there any other SAR's that I need to send as I want to get this right and provide the FOS with all the correct information so they can look into my case.

 

This should help others on here too hopefully.

 

Cheers

 

Voda

 

ofcourse this doesn't mean you are sending more than ONE does it?

 

you only need to send 'an' SAR, it covers all their history on YOU in whatever form.

all you do to NAIL them down to supplying EXACTLY what you want.

is to do as you are doing

SPECIFICALLY mention those docs you are most interested in.

 

dx

[Voda]

Oh yes I forgot to mention.

 

In their second letter to me detailing the compensation amount etc, they enclosed a fresh Loan Agreement ( and Direct Debit mandate ) for me to sign which with the compensation deducted from my arrears, would have meant a marginally lower monthly repayment.

 

When I spoke to them last Friday, I said " No way am I signing a new agreement with an amount you know I cannot afford as we already have an existing deal with me paying a far lower amount each month."

 

Yesterday they accepted this and I am awaiting another letter confirming all this.

 

WF have not really changed as they also enclosed another document titled " Customer Settlement Form " for me to sign agreeing their Compensation Offer.

 

I am not signing anything at this stage until the FOS have seen all their letters and other docs that I am sending.

[Voda]

Thanks dx.

 

Nope only one SAR going to be sent.

 

Cheers

 

Voda

 

ofcourse this doesn't mean you are sending more than ONE does it?

 

you only need to send 'an' SAR, it covers all their history on YOU in whatever form.

all you do to NAIL them down to supplying EXACTLY what you want.

is to do as you are doing

SPECIFICALLY mention those docs you are most interested in.

 

dx

[steven4064]

I would ask for all the notes of phone calls, etc on your file. THey seem to be able to produce that fairly easily

[Voda]

Thanks Steven,

 

So it's this now:

 

(1) Copies of the two Loan Agreements

(2) Copy of the Underwriting Sheet relating to the 1st Loan Agreement

(3) Copies of all Statements for both Loans

(4) Copies of all phone call notes

 

Nite

 

Voda

 

I would ask for all the notes of phone calls, etc on your file. THey seem to be able to produce that fairly easily

[postggj]

high voda

 

big appeal in the supreme court tomorow

 

our old friend

 

interest on fees

 

acceptance/mif etc etc

 

this could be the final nail

[Voda]

Hello Postie,

 

Good to hear from you...

 

Fascinating, can't wait to hear more.

 

Nitey nite

 

Voda

 

high voda

 

big appeal in the supreme court tomorow

 

our old friend

 

interest on fees

 

acceptance/mif etc etc

 

this could be the final nail

[essexboy]

"Until all claims of the Bank in respect of all of the Obligations of each Debtor have been discharged in full... No Guarantor shall in competition with or in priority to the Bank make any claim against any Debtor or any co-guarantor... nor make any claim in the insolvency of any Debtor or any co-guarantor nor take or enforce any security from or against any Debtor or any co-guarantor."

 

 

 

does this mean all outstanding balances are owed to rbs despite no notice of assignment

 

and welcome cannot enforce collection or we cannot sue welcome

 

essexboy

[postggj]

ill get back to you on that one

 

in a sense i would say yes as its subject to a court order and all pyments that welcome process are being sent direct to rbs

[dadofholly]

Hi all

 

Just a quick question regards brokers and undeclared commissions.

 

I have a claim in and the broker has stated that commision payments are the industry norm and they have followed FSA guidance etc.

 

I have other issues with them too so they can't wriggle out - but - are there any defences for brokers not declaring commissions?

[steven4064]

The may be the industry norm and they may have followed FSA guidance but they didn't tell you or didn't get your express, positive permission, then they are unlawful. By express posiitive permission, I mean that just putting it in the T&Cs is not enough - you have to actually say that you understand about the commissions and agree to them being paid.

 

In the case of Welcome, you are not even told. It is not even hinted at and that is very naughty. In fact Lord Justice Tuckey in Wilson v Hurtanger said that the authorities (ie case law) say they are a type of fraud.

[Voda]

Hi everyone,

 

I am somewhat flabbergasted as I received the third letter from Welcome Finance this morning enclosing (1) Explanation of Compensation and (2) Customer Acceptance Form.

 

All of a sudden without explanation their offer has almost doubled including the £100 award and 8%.

 

At the top of (1) it says " My compensation offer will put you in the financial position that you would have been in, had the PPI policy not been purchased "

 

It also says " If the original loan is in arrears, we will take this into account whn working out your compensation. This means that I will use some or all of the PPI compensation now being offered to bring the account up-to-date."

 

Then they list various amounts relating to the Original Loan ( which is closed ) and the Renegotiated Loan which, of course, is still open.

 

There is an amount of PPI Rewritten from the previous loan (£) under the present (open) loan.

 

So as I see it, they have effectively admitted adding an amount of PPI that was mis-sold with the original (closed) loan.

 

So this makes the current loan void if there has been a secret commission paid when the original loan was taken out?

 

No wonder they have almost doubled the compensation and trying to get me to sign that I accept it.

 

No way am I going to do that until the FOS have seen all the letters and documents that WF have sent me together with the SAR documents that I am requesting.

 

These being:

 

(1) Copies of the two Loan Agreements

(2) Copy of the Underwriting Sheet relating to the 1st Loan Agreement

(3) Copies of all Statements for both Loans

(4) Copies of all phone call notes

 

 

These people have not changed one bit, have they ....

 

Voda

 

 

Oh yes I forgot to mention.

 

In their second letter to me detailing the compensation amount etc, they enclosed a fresh Loan Agreement ( and Direct Debit mandate ) for me to sign which with the compensation deducted from my arrears, would have meant a marginally lower monthly repayment.

 

When I spoke to them last Friday, I said " No way am I signing a new agreement with an amount you know I cannot afford as we already have an existing deal with me paying a far lower amount each month."

 

Yesterday they accepted this and I am awaiting another letter confirming all this.

 

WF have not really changed as they also enclosed another document titled " Customer Settlement Form " for me to sign agreeing their Compensation Offer.

 

I am not signing anything at this stage until the FOS have seen all their letters and other docs that I am sending.

Edited July 7, 2010 by Voda

[steven4064]

So this makes the current loan void if there has been a secret commission paid when the original loan was taken out?

I certainly think so

No way am I going to do that until the FOS have seen all the letters and documents that WF have sent me together with the SAR documents that I am requesting.

Don'thold your breath. The FOS are a complete watse of space IMHO

[Voda]

Hi Steven,

 

That's good but will WF ever send me the Commission Statements and if they do, will they be doctored?

 

My financial position is such that I can apply for Legal Aid and see an expert solicitor regarding this matter, so should I forget the FOS and go straight to the lawyer?

 

Voda

 

 

Quote:

Originally Posted by Voda

So this makes the current loan void if there has been a secret commission paid when the original loan was taken out?

 

I certainly think so Quote:

Originally Posted by Voda

No way am I going to do that until the fos have seen all the letters and documents that WF have sent me together with the Subject access request documents that I am requesting.

 

Don'thold your breath. The fos are a complete watse of space IMHO

__________________

 

 

Steven

[Voda]

Going back to the virtual doubling of their Compensation Offer - WHY SAY I ??????

 

They have to be worried and hiding something surely !!!!!

 

I was always very polite in my recent calls but was very firm and businesslike.

 

They said on Monday that if I am not happy with all their letters and this most recent one, then I should complain to their Customer Complaints Department.

 

But these last 3 letters are headed Customer Complaints Department anyway !!!!

 

So in effect, I would be complaining about their own department but I suppose they would say " But it's a department within a department ".

 

Duh !!!!!!!!!!!!!!!!

 

Hence I feel the need of an expert financial lawyer now to save me getting the runaround by Welcome Finance and any other financial investigation body that might take months getting around to my case.

 

Perhaps I should get the lawyer to apply for the SAR's on my behalf as it would look more official.

 

I am sure Andie 303 and Postggj will also be interested when they see this matter .....

 

Voda

 

PS. The 2nd class return envelope enclosed with their letter that I received this morning is headed in bold " THE PROJECT " Welcome Financial Services, Mere Way, Ruddington Fields Business Park, Ruddington, Nottingham, NG11 6NZ

 

Interesting title eh !!!

Edited July 7, 2010 by Voda

[ecf1144]

Hello,

Am new here so not sure if i'm in the right place. I've got a problem with welcome finance in which I've cancelled my dd on the personal loan that I took out, because the payments were so high and I couldn't afford them. I've written to them with a more reasonable offer of repayment and they have been ringing me every day up to 9 times a day off various numbers. What can I do?

Thanks:-x

[dadofholly]

The may be the industry norm and they may have followed FSA guidance but they didn't tell you or didn't get your express, positive permission, then they are unlawful. By express posiitive permission, I mean that just putting it in the T&Cs is not enough - you have to actually say that you understand about the commissions and agree to them being paid.

 

In the case of Welcome, you are not even told. It is not even hinted at and that is very naughty. In fact Lord Justice Tuckey in Wilson v Hurtanger said that the authorities (ie case law) say they are a type of fraud.

 

Thanks for that - very helpful. it is basicly what i said in my reply but just wanted to cover all the avenues.

 

My issues with welcome are anoher matter - they are playing the old game of delaying tactics.

 

How long do i have to give them before i finaly take them to court?

[dadofholly]

Hello,

Am new here so not sure if i'm in the right place. I've got a problem with welcome finance in which I've cancelled my dd on the personal loan that I took out, because the payments were so high and I couldn't afford them. I've written to them with a more reasonable offer of repayment and they have been ringing me every day up to 9 times a day off various numbers. What can I do?

Thanks:-x

 

Hi ecf

 

First thing to do is send them a harrasment letter. Click the link and amend the letter for your own circumstances.

 

Send it be recorded delivery -and DO NOT sign it.

 

If you have any other problems with welcome - or you have any insurances with them, it's best to start your own thread.

 

Best of luck.

 

http://www.consumerforums.com/resources/templates-library/52-harassment/135--harassment-by-telephone-response-letter-

[pears23]

Looks like CITI group may be interested in Cattles..............

http://www.iii.co.uk/investment/detail?code=cotn:CTT.L&display=news&it=le

Edited July 7, 2010 by pears23
forgot link

[IainHL]

high voda

 

big appeal in the supreme court tomorow

 

our old friend

 

interest on fees

 

acceptance/mif etc etc

 

this could be the final nail

Is there any news on the outcome of this?

[Dizzle]

3 months since I last heard from WF.

 

4 months since my last token payment

 

9 months since my last full regular payment.

 

Still nothing on my credit files.

 

Bizarre! :-|

[scoobyd77]

IanHL#They lost the case

Dizzle#suspect they have been stopped from reporting to CRA

 

"Until all claims of the Bank in respect of all of the Obligations of each Debtor have been discharged in full... No Guarantor shall in competition with or in priority to the Bank make any claim against any Debtor or any co-guarantor... nor make any claim in the insolvency of any Debtor or any co-guarantor nor take or enforce any security from or against any Debtor or any co-guarantor."

 

 

source

Court of Appeal considers efficacy of subordination provisions in group guarantees - International Law Office

[Dizzle]

This loan has never been reported to the CRAs since it replaced the old one last July, which shows as settled on my file.

 

I should definitely have received a default notice by now (dodgy or otherwise) considering how far behind I am.

[Voda]

Hi everyone,

 

I have copied the SAR template that Postggj kindly posted on this thread and have now adapted it to my case.

 

I thought that an SAR only costs £1.00 not £10.00

 

I am going to send the SAR myself rather than a lawyer ( who I am finding hard to find ).

 

Here it is what do you think?

 

 

 

 

WELCOME FINANCIAL SERVICE

COMPLIANCE

RUDDINGTON FIELD BUSINESS PARK

RUDDINGTON

NOTTINGHAM

NG11 6NZ

 

 

 

 

[My address]

 

 

 

[their address]

 

 

[DATE]

 

 

 

Data Protection Act 1998

 

Subject access request

 

 

 

Dear Sir/Madam

 

 

ACCOUNT NUMBER: xxxxxxxxx (or multiple numbers if more than one account)

 

 

Please supply me with copies of all the data which you hold on me in relation to any matter and in any form and for any period of time.

 

Please note that I require disclosure of any personal data which you hold on me for the entire period of my dealings with you.

 

The Subject Access is not limited to my transaction history and it is not limited merely to 6 years of historical information.

 

Additionally, where there has been any event in my account history over this period which has required manual intervention by any member of your staff, or any other person, I require disclosure of any indication or notes which have either caused or resulted in that manual intervention, or other evidence of that manual intervention in relation to my financial business with you.

 

I require all information on details of all insurance products supplied by Welcome Financial Services. This is to include the statement of means, statement of price, details of all insurance premium tax paid, and underwriting sheets.

 

If mortage indemnity insurance has been added to the agreement, i require all details on who this premium was paid to, and who underwrites this insurance. (This is irrelevant and I will not include in my letter )

 

If you are unable to supply this data because there has been no such manual intervention, then please be so kind as to confirm this in your response.

 

I enclose the statutory maximum fee of £10. You have 40 days in which to comply. Furthermore, if I discover that you have levied disproportionate penalties or charges which are invalid under the Unfair Terms in Consumer Contracts Regulations against me, then I shall be reclaiming them together with any interest charges which you have levied on them.

 

As it is your wrongdoing and mishandling of my account which has created the necessity for this Subject Access Request, I shall also be reclaiming the enclosed £10 Data Protection Act subject access request fee. ( I have highlighted this as I personally don't think that I should write this as it's inflammatory and at this stage I am not accusing them )

 

To sum up, apart from all the data which you hold on me in relation to any matter and in any form and for any period of time, I require:

 

1) Readable copies of my two loan agreements

 

2) Copies of the Underwriting Sheet relating to my first loan agreement ( account no: xxxxxxxxxx )

 

3) Copies of all statements for both loans

 

4) Copies of all phone call notes

 

If there is specific information which you require in order to satisfy yourself as to my identity, please let me know by return. However, please note that the above address is the one which you normally use to communicate my private business to me and which you have hitherto found to be acceptable.

 

I would be happy to collect the Data from my local branch.

 

Yours faithfully,

 

Voda