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harvey2103

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Everything posted by harvey2103

  1. harvey2103
    Lol ok, I was confused! Yeah Ive been reading about the charges being removed on other people's wf loan but can't seem to find out much about it. That would solve all my problems as Halifax wouldn't have an issue if the charge was removed. I can scan and email them to you, won't be until Tuesday when I'm back at work as I've no scanner at home. There's a lot of info too, they had a fair file on me! Thanks
  2. harvey2103
    Hi dx, I have no idea how I managed to merge those threads but it gives you an idea of the history and that I have already requested sar. I took out 13k initially and my current balance is just over 13k now. I only pay 50 a month to the dca and have done for years. I never get any phone calls or bother from wf or whichever dca is handling it at the time. If wf have sold the debt on, Should they have removed the charge or does it not work like this? I got the loan directly from wf as they had an office local to me. Thanks
  3. harvey2103
    Hi all, I am looking for some advice on whether I can re-mortgage my property when I have a second charge on the property. The short story is, I stupidly took out a Welcome Finance Loan about 10 years ago now and it was secured on my flat. After separating from my partner, I ended up not being able to afford the monthly payments, the loan has been passed onto various debt agencies but it now with Lowell, I pay an agreed sum each month and have been doing so for around 4/5 years now. I am currently trying to remortgage my flat as myself and my partner had a baby, we cant afford to move to a bigger property but are hoping to convert the loft into a second bedroom. The remortgage would just allow us to do the conversion but there wouldn't be enough to pay off the WF loan. As I will be adding value to the property, my intension would be to sell the property a few years down the line and pay the WF loan off at that time. I have been accepted for a new mortgage by Halifax, they are aware of the second charge on the property and said they would write to WF and request that the charge be postponed, which sounds quite straight forward to me but I'm fully aware nothing with WF is straight forward!! What are the chances of WF postponing the charge when the debt has been sold on? and what are the chances of Halifax approving the mortgage, if the second charge is now with a debt recovery agent? I am thinking that I shouldn't be getting my hopes up and its unlikely Halifax will approve the re-mortgage, but any advice would be appreciated, I might save myself some fees if I knew in advance what the likely outcome is? Any advice would be fantastic. Thanks, HVY
  4. harvey2103
    Great thanks for that. It wasnt even the PPI i was concerned about so no idea why they've sent me a cheque for this, probably to put me off track of claiming the £700 of charges!!! I will send the failed SAR letter asap. Thanks
  5. harvey2103
    Hi All, Hope someone can point me in the right direction. I sent a SAR request to MBNA as I wanted to claim my charges back. I only received 4 years statements from them though, plus on the statements I noticed some PPI transactions, (these didnt amount to much). So I wrote back requesting the further years statements and any documentation relating to the PPI, stating that this was not limited to the 5 years (in scotland) So yesterday I got a letter from them, saying they have issued a cheque for £78 in relation to the PPI transactions. No mention of my missing statements. But I havnt seen any documents relating to the PPI so how do I know £78 is a justified offered? I didnt even ask for the PPI to be refunded, all I wanted was the missing statements plus details of the PPI policies so I could work out my own figures. Plus it states on the letter this is their final correspondance to this matter (or something similar), what should my next step be? Thanks
  6. harvey2103
    Hi, Does anyone know if you can still make payments to WF via the automated payment service. I had a link to it previously but its now not available. I dont want to set up a direct debit with them and refuse to speak to them on the phone. I have written to them several times requesting there bank details so i can make payments via online banking but im getting no response (as usual!!) Any help would be appreciated.
  7. harvey2103
    Thanks guys, was without a computer there for a few days. I really dont think I would have the time and money to fight this all the way through the courts, Im currently working two jobs at maximum hours to pay off my debt!! My ex left me in this mess so im determined to get it all paid off myself. I guess I was just looking for something to bring the balance down a bit, I mean for a 13,000 loan, Ive paid £5,000 approx yet its currently sitting at £16,000 - it just seems ridiculous that they can get away with that!!! Why are welcome so against settlements when they are apprently in financial difficulty, you would think they would take what they can from people????
  8. harvey2103
    Thanks, that makes sense now. as it was secured I had no cancellation rights. I know I didnt receive an advanced copy as I kept everything on file myself and there is no no record/copy of it in the SAR but I cant see how I would even prove this, would they not just say it was sent ie my word agains theirs???
  9. harvey2103
    Ok it doesnt feel so bad that they got it right then! Im not sure i understand the rules for the cancellation notice etc, ive been trying to read the appropriate sections of the act today at work, but my heads starting to feel like a burst balloon with it all. To me, it seems they have to issue with a cancellation notice BUT if they dont, there should be a cooling off period of 14 days from signing of the agreement?? I keep reading different things on this, some say seven days, some say fourteen and it seems to depend on whether their was face to face business or whether it was done by post. As for charges, you may find this hard to believe...but no PPI, MID, zilch!!! All ive had in charges since 2005 are the acceptance fee along with £60 worth of charges. Which seems strange cause ive had letters, house visits etc, but then again their making their money on the fact theyve added £300 a month interest onto the balance when i started missing payments.
  10. harvey2103
    Cheers! So based on the 25.2% they're pretty much spot on, that must be a first! Its starting to look like they maybe havent made many mistakes on this loan, other than no notice of cancellation/cooing off period and the fact they've valued the property incorrectly. (although i find it hard to believe they could get it so right!!) Thanks again.
  11. harvey2103
    Thanks. Im still confused as when i look at it again, there is two interest rates. Its laid out as follows: Total amount of credit - 13,000 Monthly payments - 279.72 No of months - 120 APR (Variable) - 25.90 Total charge for credit - 20,566.03 acceptance fee - 235 Interest Charge - 20,331.03 Rate of interest per annum - 25.20 Whats with the two interest charges? Nothing these guys do seems to make sense to me!!! Thanks
  12. harvey2103
    Back again guys! Can anyone tell me how to calcutate the total charge/interest due on your loan please? Ive tried many ways myself but cant seem to come up with the figures they have. My loan was 13,000 plus 235 acceptance fee and APR is 25.90, this is over ten years. Im getting myself in a muddle trying to work it out! Thanks
  13. harvey2103
    I have contacted the Land Registry and there is a charge on my property so the loan is secured. I was having another look through last night and still there is nothing about cancellation or a notice of cancellation. Along with this they have valued you the house at completely the wrong value, they have added a good £25,000 onto the value (which is quite a lot for where i live), they havent checked with the mortgage company about the value/equity etc otherwise they would have known there was no equity. Another thing that suprised me is their credit check, I now have details of all the loans my parents and sisters have taken out over the years, along with my ex partners parents and brothers details and monthly payments! It amazes me that they would need to check all this! Also i found the "missing records" its just one piece of paper with a long list of unanswered phone calls over the two years. They have noted the times I have written to them about a payment plan but no action has been taken on it. i'll keep reading!!
  14. harvey2103
    I cant see how they would force sale when there is no equity in the property cause it would be a waste of time and money on their part! But then they shouldnt really have secured loans against our properties anyway when there was no equity in them!
  15. harvey2103
    Thanks guys. I will have a read of sections 61 and 64 and phone the land registry to find out about the charge. With regards to the account statement, they said it would be sent under seperate cover. However, I have been receiving a statement every six months or so and yes the missed payments are detailed but no charges have been added during this time (just a ridiculous amount of interest/capitalization). I agree its like the documents were lost at the closure of the last office. The paperwork they have provided in my SAR is all documents that have been scanned onto a computer (with a very bad scanner) then printed off, none of it is good quality so I think all the originals may have been lost/destoyed. I will keep looking through the information though, pretty sure I can come up with some more errors!!! Thanks
  16. harvey2103
    i'll order a copy of the deeds then and see if there is a charge against my property. In the meantime, i will be going through my SAR with a fine tooth comb to see what else I can come up with. Thanks for all the help.
  17. harvey2103
    Thanks again. So if there was no advance copy sent in the first place, where do you think that would that leave me? I tried to search the land registry online but all the sites i tried required a fee to check if there was a charg against my property. Is there a site i can get this from for free? if not i'll happily pay the fee. I agree, i think there has been a c*ck up when the old office closed. As i dont believe for a minute they would let me miss so many payments without a peep out of them! Thanks again.
  18. harvey2103
    Hi, Thanks for that. I didnt receive an advanced copy as i kept everything on file myself, there is only the one copy that i signed. Everything was done by post (no face to face or phone) so i understand the cooling off period for this is 14 days from the date of the signing??? There is no legal charge in amongst the SAR, I will need to contact the Land Registry, this was next on my list. I have account notes up until December 2009, which are very detailed, phone calls, letters etc. Then is just stops. But this is around the time I started missing payments due to financial difficulty, i cant see how they wouldnt have notes on this period. As i said this is around the time the local office dealing with my account closed. It seems a bit strange. Do you think my next step would be to write to them asking for an explanation of the above points??
  19. harvey2103
    As it happens Mr Z, I arrived home last night to my long awaited SAR. I havent been through it in-depth as of yet but having had a quick look last night there are a couple of points which I think may be valid arguements against WF. However, I could do with confirmation that I am on the right track? 1) Firstly, despite my CCR & SAR requests they have still failed to provide a legible copy of my agreement, (I have my own orignal copy though), is it still a requirement by law that they provide you with a true legible copy? 2) there is definately no mention of the cooling off period and the information they have provided confirms the money was paid into my bank less than 14 days after the agreement was signed. 3) The only document I signed was the agreement. for a secured loan should there not have been some other document to go to the Land Reigstrar for putting the charge on my property? I thought I read something along these lines in another post. 4) Does there need to be equity in the property to secure a loan against it? As I purchased it in October 2006, and the loan was taken out in Janury 2007, it was a 110% mortgage so there was no equity in the property at that time. Finally, I dont even know if this is something I can bring up with them but it seems strange. There is a two year gap in my documents. I have details of everything missed payments, phone calls, etc etc up until the end of 2009, then nothing for two years. I missed loads of payments during this time but there is no details whatsoever until I got in touch with them recently about a payment plan. Coincidently, the local office dealing with my account closed approx 2 years ago. Is this an issue that can be raised with them? Sorry for the 101 questions, I just want to make sure im going on the right path with this. I appreciate any help greatly. Thanks
  20. harvey2103
    Thanks, What do you suppose my best options are then? I have already sent a SAR but have not heard anything from them yet, (they are still within the 40 days). I have no idea how to proceed with this, i'm just trying to gather as much understanding from this website. Any help is appreciated.
  21. harvey2103
    Thanks for the help. I have been looking through the documents I received when i took out the loan and there is no notice of cancellation or anything about cancellation. I understand if it is a secured loan you must get a 14 day cooling off period (as it was all done by post), from the date the agreement was signed? I signed the agreement on 29th January 2007 and the money was in my account on 8th Feb, less than 14 days later. Does this not mean WF have failed to provide the standard cooling off period or am I misunderstanding this?? Thanks again.
  22. harvey2103
    Hi, I am currently waiting in vain for my SAR from Welcome. However, in the meantime, I have been trying to educate myself as much as possible about WF/secured loans on this site. I have two queries that I have been pondering over recently: 1. The loan is secured for £13,000. The entire application process was done by post, we never went into their office or spoke to anyone by phone. Is this normal procedure for a secured loan? I would have thought, they would need us to go into the office to sign the forms. I have my original agreement and it was witnessed by a friend of mines. Just wanted to check if this was normal WF procedure?? 2. How can I go about checking if WF have applied a charge to my property?? I have read other posts about this and just wanted to check this?? Thanks in advance for any help!!!!
  23. harvey2103
    Great thanks ims. My parents have lived in the same house for well over 30 years so every loan will be under the same address. Ive read a few lloyds posts and am expecting a bit of a struggle! I'll get started with the SAR request and see what they come up with. Are they likely to have details of any of the loans pre six years ago? I assumed records didnt have to be kept after the six year mark? Thanks again.
  24. harvey2103
    Hi all, I am looking into PPI claims for my parents. They have took several loans out with Lloyds over the years and are unsure whether they had PPI or not. So a couple of queries I hope someone can help with. 1) how many years can you go back? is it just the standard six or would loans before that period count as well? 2) They dont have details of their loan account numbers? how do I go about getting these? 3) And finally, do I send a SAR or should it be a CCA? If I send a SAR is it one SAR request per loan, or will they cover all my parents history with Lloyds with one SAR request? Sorry im a bit new to this so any help would be appreciated. Thanks
  25. harvey2103
    Hi, I am currently having an issue with WF of the same sort. I have offered to make payments but they claim they are no longer dealing with my account. They have passed me on to two different DCAs, one who has confirmed in writing that they are not dealing with my account and the second have ignored my written correspondance. I have missed 18 payments so far and have strangely had no phone calls, house visits etc (i did have these before when i missed just one payment). I have requested my SAR and just waiting to see what they come up with. Although not actually sure what im looking for and what to do when i get it!! In the meantime i think i will send a written proposal of payment plan as Dx suggests. I also made a payment of 0.01p to see if this appears on my SAR once received.

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