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Welcome Finance - This company needs to be banned.


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Thanks for the help guys, I wrote a very strongly worded letter, bits taken from Dipply's version. Something that has just come to mind....in the form they've sent, it says what do I remember about any literature I was given etc. I didnt leave the branch with my loan agreement, it was sent to me after I left, with a covering letter. Also on my carbon copies of the agreement, you can make out that someone has wrote the date across the little tick boxes for the PPI etc, but the date is the day after my agreement was signed?

 

Suggestions people? Is it normal for me to sign the agreement, not be given one straight away and then to have it mailed to me?

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Cattles' board set to face angry investors - Yorkshire Post

 

11am in Leeds - hmmmmm wonder if I can get a baby sitter

 

Thats going to be a massacre :lol:

 

That reporter should be going too....do you think he's aware that the regulators are aware? Can he not get a statement from them n this? Reporters just seem to tell a bit of a story and leave it...get in there and investiagte mate, its bigger than you think!

 

You should go and ask the board publicly if the FSA and fraud squad have started an investigation, and see what reaction you get!

Dipply75

 

I am in no way a legal advisor and only speak from my own experiences and the helpful advice of those in the same boat! :p

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Thanks for the help guys, I wrote a very strongly worded letter, bits taken from Dipply's version. Something that has just come to mind....in the form they've sent, it says what do I remember about any literature I was given etc. I didnt leave the branch with my loan agreement, it was sent to me after I left, with a covering letter. Also on my carbon copies of the agreement, you can make out that someone has wrote the date across the little tick boxes for the PPI etc, but the date is the day after my agreement was signed?

 

Suggestions people? Is it normal for me to sign the agreement, not be given one straight away and then to have it mailed to me?

 

Hmm, was it a secured loan?

Dipply75

 

I am in no way a legal advisor and only speak from my own experiences and the helpful advice of those in the same boat! :p

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hi all,

 

is there a specific tempate that you can use to send to welcome to start a reclaim of missoln PPI please

 

and if so where...

 

Cheers

 

There are very basic ones in the template section but I may have one I used here....give us a mo.

 

Do you have a thread so we can follow and hopefully help?

Dipply75

 

I am in no way a legal advisor and only speak from my own experiences and the helpful advice of those in the same boat! :p

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Nope, just a top up to the original £1000 I'd borrowed

 

They did the same with me - infact until I got a court defence from Welcome I never had a copy of my agreement - 2 years later!

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I just read the letter I put together, and it is smoking! I might have to send it in an asbestos envelope, it'll definitely make some people concerned....does help I had some help from a friend of mine thats actually a qualified lawyer :o)

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Hi

 

Have been an avid follower of this thread for a while now, my PPI claim is in with welscum at the moment and I too had one of those forms requesting info about the sale of the PPI and what do I remember and why am I now claiming blah blah blah. I responded the same day, they got it on the 3rd July 09 and I have heard nothing since, aprt from a letter daying oh we are still looking at it and will be in contact soon.(yeah right).

 

My question is if Cattles do go bust, even if they offer me 20p in the pound to settle my debt ( I borrowed £10K secured) I havent got the £2K i need to settle, so where would that leave me? and would my PPI claim be blown out of the water? I hope not hoping to use it to go on a nice holiday!

 

Any advice thoughts would be great Thanks

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That's something I've wondering also, not sure where we stand yet!

 

Another question I have is, having paid over 1/3 of my car loan, if I were to get a refund of the PPI, which is front-loaded, I presume my total payments made against the car HP would be slashed, therefore dropping me below the 1/3 point and leaving me open to Welcomes dogs?

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I believe the arguement is if someone buys the debt they buy the liabilites as well i.e. PPI claim however I believe there is a counter arguement that says if Welcome go into administration all claims go with it.

 

I have not as yet got a 100% answer - what I do know is Welcome have refused in writing to guarantee successful claims are paid!

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That's something I've wondering also, not sure where we stand yet!

 

Another question I have is, having paid over 1/3 of my car loan, if I were to get a refund of the PPI, which is front-loaded, I presume my total payments made against the car HP would be slashed, therefore dropping me below the 1/3 point and leaving me open to Welcomes dogs?

 

I can't see how this would be i.e

 

car is £2000 ppi is £1000

 

say you have made 12 x £100 £100 payment is £80 car £20 ppi = £1200 more than 1/3

 

if you get a refund of ppi you get back 12 x £20 already paid and the remainder of ppi wiped off.

 

So therefore you would be left with £2000 car with £960 already paid - still more than 1/3

 

Make sense??

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I can't see how this would be i.e

 

car is £2000 ppi is £1000

 

say you have made 12 x £100 £100 payment is £80 car £20 ppi = £1200 more than 1/3

 

if you get a refund of ppi you get back 12 x £20 already paid and the remainder of ppi wiped off.

 

So therefore you would be left with £2000 car with £960 already paid - still more than 1/3

 

Make sense??

 

 

Thanks andie_303. It does make sense. Except, I understood the PPI etc was front-loaded - so have I actually paid the entire PPI premiums before any payment goes against the car?

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I believe the arguement is if someone buys the debt they buy the liabilites as well i.e. PPI claim however I believe there is a counter arguement that says if Welcome go into administration all claims go with it.

 

I have not as yet got a 100% answer - what I do know is Welcome have refused in writing to guarantee successful claims are paid!

 

 

No in fact the opposite is true. You will as you are fully entitled to do demand that they actually refund you the money which will mean that you will have paid off more not less..........If they don't give the money, & they should, make sure they add it to your payments It needs to be front end rather than back end

 

BUT whatever you do DO NOT SIGN a new agreement. They can & do reschedule the old

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Thanks andie_303. It does make sense. Except, I understood the PPI etc was front-loaded - so have I actually paid the entire PPI premiums before any payment goes against the car?

 

It is front loaded in terms of the interest but still only a proportion of each montly payment goes to the PPI the remainder goes to the car.

 

I pay £190 per month and £66 goes to the PPI the remainder to the loan.

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lol, thanks for your help dipply....but i give up:eek:

 

No! We are here to help!

 

The basic template letter just states that you think it was mis-sold and you list your reasons.

 

If you can give a bit more info we can give you a much better one to start with and save you some time with them.

 

ie: was the PPI pre 2005 or after

are you claiming missold for unable to claim on the policy for employemnt, health etc reasons or were you just forced to take it?

Term of the loan (as your PPI term may be much shorter than your loan)

 

Just things like that.....c'mon, you ain't giving up now surely!

Dipply75

 

I am in no way a legal advisor and only speak from my own experiences and the helpful advice of those in the same boat! :p

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also don't forget to add your contractual interest on top of the payment + interest. Your charging them reciprocal contract interest because you have been denied the use of that money. Calculate it the same way as you would bank charges it should come to a tidy sum

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Hi everyone,

 

Received a phone message today from 0208 643 6480 and I rang back.

 

They answered as LCU which is Welcome Finance's Collection Department in Sutton, Surrey.

 

Anyway I have been paying a nominal amount to Welcome since February 2009 as advised to pay by CCCS ( Credit Consumer Counselling Service ).

 

WF asked me to deal through them and I also sent WF a CCCS Budget Sheet and a list of other Creditors.

 

I was also told over the phone at the time, as we all know WF NEVER put anything in writing, that all interest & other charges would be frozen if I went on a Debt Management Plan with CCCS.

 

On numerous occasions since, I have written many letters to WF asking them to confirm in writing that if I go on a DMP then they would freeze all interest and other charges. Guess what, I have never had an answer in writing.

 

So when I spoke to this guy today, I told him all about the history ( as above ) and the only letter that he had on file, was one dated by me in early June. Pathetic !!! :-x

 

I told him that I have sent all letters by Recorded Delivery so they must have received them.

 

He asked me if my finanacial position had changed and I said " No " and the amount that I was paying was all that I could afford at present.

 

I asked him about the " Freezing of all interest & other charges " and he said that w.e.f mid July this year, he would freeze them.

 

I said " Could I have that in writing please " and he said that it was not company policy to do so. I said all my creditors have written to me and what makes WF so special.

 

He had no answer to that naturally.

 

He then said that my next 6 monthly account statement will show that these charges have been frozen and I said that is not good enough.

 

He said that it would cost me £10 for a letter from him saying that WF had frozen these charges but he would have to ask his superiors if he could do that.

 

He then said if you can afford to pay £10 for a letter then why can't you pay more than the agreed monthly amount.

 

So there is no point really talking to these programmed clowns.

 

He also said, could he have an up to date Financial Statement from me and I said " Sure but nothing has changed ".

 

He also wants a six monthly personal budget from me in the future.

 

I will send them my usual monthly cheque tomorrow but have any of you any suggestions what I should do regarding this letter regarding freezing all the charges, that I want from them?

 

I have written down the time that we spoke but he never said that our conversation was being recorded. But I don't think that they have to, as it's in their small print.

 

This company is so amateurish and pathetic.

 

I have no trust in them whatsoever and that is why I have insisted that they write to me.

 

Looking forward to someone'e reply.

 

A frustrated Voda.

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Hi Voda

 

£10 for a letter! I've had that one before when asking for my annual statement which I hadn't received after 2 years!

 

If you were inclined to pay the £10 then you may as well send a SAR, bit more bang for your buck, so to speak, and it, essentially, get you the info you want, provided they bother to make any notes....

 

Potentially, it could also get transcripts of phone calls, which I'm sure would be interesting - I suspect that is why they call from mobiles most of the time - not recorded or logged.

 

Whilst you're at it, how about the No phone contact letter? That would really upset the muppets!

 

T2

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you really should record your calls - you don't have to tell them you're doing so and you get some dynamite info - as our Welcome friends will find out 2 weeks today - It's amazing what they will tell you when they don't realise they are being recorded!

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you really should record your calls - you don't have to tell them you're doing so and you get some dynamite info - as our Welcome friends will find out 2 weeks today - It's amazing what they will tell you when they don't realise they are being recorded!

 

Oh to be a fly on the wall :lol:

 

Wish I could book me one of those cheap flights down for the show :razz:

Dipply75

 

I am in no way a legal advisor and only speak from my own experiences and the helpful advice of those in the same boat! :p

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Likewise when i asked for a copy of Welscums phone bill to show me the 13 calls i was charged for in April.....surprisingly ive never recieved it !!!!

 

Hope you end up taking them to court for something as under CPR rules they would have to provide it aswell :D

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Please note that this topic has not had any new posts for the last 3303 days.

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