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Welcome Finance - This company needs to be banned.


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Maybe its a .......Silent but deadly

Beck

"There are two ways to conquer and enslave a nation. one is by the Sword. The other is by Debt."

 

Barclaycard PPI Refund £4300:whoo:

Barclaycard = Mexican Stand Off

 

TSB = Mexican Stand Off

 

Santander = :mad2: MungyPup is coming to get yahh :mad2:

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Time for a Totty Bottle then :lol::lol:

Beck

"There are two ways to conquer and enslave a nation. one is by the Sword. The other is by Debt."

 

Barclaycard PPI Refund £4300:whoo:

Barclaycard = Mexican Stand Off

 

TSB = Mexican Stand Off

 

Santander = :mad2: MungyPup is coming to get yahh :mad2:

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Can I just point out that whoever takes on the book debt, as someone will, MUST also accept the liabilities. A simple fact that makes me think that anyone who does take it on must either be completely unaware of what the books represent in the way of mis-sold PPI & unenforceable agreements....or are completely stark raving bonkers

Edited by JonCris
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Can I just point out that whoever takes on the book debt, as someone will, MUST also accept the liabilities. A simple fact that makes me think that anyone who does take it on must either be completely unaware of what the books represent in the way of mis-sold PPI & unenforceable agreements....or are completely stark raving bonkers

 

 

Is this a legal rule based on fact or just an assumption?

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Can I just point out that whoever takes on the book debt, as someone will, MUST also accept the liabilities. A simple fact that makes me think that anyone who does take it on must either be completely unaware of what the books represent in the way of mis-sold PPI & unenforceable agreements....or are completely stark raving bonkers

 

I believe this would probably have to be argued, an agreement can be sold with the benefit and without the burden.:mad:

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This comes from a defence made by welcome on a claim from an agreement which was purchased by welcome

 

Linden Gardens Trust Ltd v Lenesta Sludge Disposals Ltd [1993] 3 WLR 408 states that a party may assign (that is, transfer) the benefit of the contract, but not the burden. The original parties remain liable for their obligations under the contract.

 

I am just thinking that if all these agreements get sold on then the new owner could potentially use this arguement.

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I believe this would probably have to be argued, an agreement can be sold with the benefit and without the burden.:mad:

 

Are you sure, that doesn't sound very legal to me, for a start is morally repugnant and the courts would surly realise this...

 

How can you sell a debt that has an existing liability without honoring the liability...The consequencies in financial terms would be massive because every FRAUDLENT (innovative, creative) company would know that they could act recklessly and escape culpability

 

If what you say is fact LMH then the law is surly distorted:confused: and tilted in favour of the rich man...

 

Oh of course how silly of me...

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Are you sure, that doesn't sound very legal to me, for a start is morally repugnant and the courts would surly realise this...

 

How can you sell a debt that has an existing liability without honoring the liability...The consequencies in financial terms would be massive because every FRAUDLENT (innovative, creative) company would know that they could act recklessly and escape culpability

 

If what you say is fact LMH then the law is surly distorted:confused: and tilted in favour of the rich man...

 

Oh of course how silly of me...

 

Like I said, it would have to be argued. Good start here :-)

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I'm trying to find some case law on the benefit without liability issue but...

 

I believe if an agreement is bought in good faith with due dilligence then the argument is sound. However, in this case due dilligence would fail on the basis of the clear unenforceability of so many of the contracts, together with the mis-selling issues already raised. Additionally, if Welcome were unable (or unwilling) to pass on the true executed agreement then a court would be unable to allow enforecement.

 

Just my opinion - I'll dig some more.

 

Otherwise Welcome would have mitigated the claims by selling the agreements to a mate... oh, hang on, they did didn't they?

Edited by T2upNorth
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Could someone let me know, do Welscum have the right to apply for default charges/leters sent whilst I am waiting for my SAR if it ever arrives? (whichI send Mid May and they have acknowledged)

 

Also Welscum local office have written to say they have cancelled HP agreement and are going to reposses the car, or take court action.

 

I am trying to reclaim my missold PPI, but they AIN'T listening!!:mad::mad::mad:

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