sorry to hijack the thread just a quick question can welcome charge interest on an acceptance fee? as on my thread can someone please check my rewrite

according to my statement of price im being charge interest on that fee

bump

with welcome they would add interest to the cost of the ink and paper the agreement was written on/with

very true

i would like to find out something is wrong with this so have ammunition when i have to see them next week

received my Subject access request today makes very interesting reading on my new rewrite from dec 2007 it reads as follows

amount of credit £12446

no insurances

apr 2.6%

flat rate 1%

no of payments 84

acceptance fee £195

monthly payments

credit £158.54

acceptance fee £2.48

total £161.02

can someone please check this and make sure its correct as i didnt think they could add interest to the acceptance fee

havent looked through it all yet found the front sheet for my 1st loan and it states in black and white comission £100 under the amount of my loan

i've never seen so much crap paperwork in my entire life and i work for an accountants officve!!!!!

mind you must be a record for wcf to get a sar back within 15 days start to finish

received my sar today makes very interesting reading on my new rewrite from dec 2007 it reads as follows

amount of credit £12446

no insurances

apr 2.6%

flat rate 1%

no of payments 84

acceptance fee £195

monthly payments

credit £158.54

acceptance fee £2.48

total £161.02

can someone please check this and make sure its correct as i didnt think they could add interest to the acceptance fee

probably is for welscum that way they can add interest upon interest and screw even more money out of us

hi i had the rest of 1 hp agreement added onto a new hp agreement and more interedt added

had £940 left from an old car that had been written off and was added to my new car agreement

just sent off my sar along with £10 postal order, letter unsigned and sent 1st class recorded delivery to nottingham

is there anything in the paperwork if and when i receive it that i should look out for

Thanks Dawny I;ve Restarted My Thread And Post Very Kindly Helped Me My New Thread Is Help Please I'm Desperate

ok will do probably tomorrow

but when i multiple the monthly figure £161.02 x 84 months (the term) it comes out as £13525.68

just found the green form from the rewrite all it states is amount to be financed £13568 interest £0.00

i never realised before but they state its 0% and just taken the amount to be financed from god knows where

it does say that no insurances are valid as rewritten because of finacial difficulties

trying to get scanner to work at the mo so i can put it up for you to see

Well Ive Yet To See A Compliant Welcome Agreement

 

Correction

 

Ive Seen One Valid Agreement

well when i receive the info back i will put it onto here if it exists!!!

thanx so much post for all your time i really appreciate it

sounds good news and i could really do with not paying welscum every month but if they do have the new agreement what then? (pessimist is my middle name)

Where Is The Guardex On The Agreement

 

If They Added It The Cost Of Goods (car) Its Game Over

under other financial info next to make and model of car typed next to vectra is the words inc gdx (guardex)

so what can i do? anything?

also i paid a minimum deposit of £100 and it seems to of disappeared and yes i did get conned for guardex which i believed was a free gift

Thanks

 

I Missed That

 

Ill Do The Figures Again But

 

ime Now Confused

 

They Are Saying That Was What Was Left Over From The Previouse Agreement

 

The Agreement Posted Is The Second Agreement I Take It Then

and On This Second Agreement You Purchessed A Car

 

Please Confirm

no this is the original agreement for the car the amount left for refinancing was for the car from 2004 finance ( a mondeo) this agreement was for a vectra

to put it in simple terms ive had 3 accounts

2004 a mondeo

2006 march vectra this one we are talking about

dec 2006 rewrite of vectra agreement

hope this clears things up

i know im confusing its my speciality!!!!!

The Figures Dont Add Up

 

Agreement Is Total Crap

 

Amount Of Credit Miss-stated

do i wait until i get the sar back or do i put my account in dispute? i dont particularly want to lose my car as unusually for them its a low mileage well looked after car

Why Is Your Monthly Repayment £367.27 On The Agreement

i just accepted it after nearly 7 hours on a saturday in the showroom

what can i do about it now?

ill break down this agreement in parts

 

CREDIT FOR GOODS

£10,420 OVER 48 MONTHS WITH AN APR OF 10%, THAT WORKS OUT AT

 

MONTHLY PAYMENT £262.13

INTEREST £2,162.07

TOTAL PAYABLE £12,582.07

 

NOW INSURANCE

 

PPI £2382.75

MECHANICAL BREAKDOWN £500

SHORTFALL EXTRA (GAP) £350 TOTAL INSURANCE £3232.75

 

that works out at 10 % over 48 months at

 

MONTHLY PAYMENT £81.32

INTEREST £670.77

TOTAL PAYABLE £3903.52

 

NOW ILL ADD ALL THE EXTRAS

 

REFINANCE FEE £195.74

 

I NOW HAVE ALL THE FIGURES

 

INTEREST ON GOODS £2,162.07

INTEREST ON INSURANCE £670.77 TOTAL £2832.84

 

NOW ADD INSURANCE TOTAL £3232.75

COST OF CAR £10,420

 

TOTAL £16,485.59

NOW ADD REFINANCE FEE OF £195.74

 

 

 

TOTAL REPAYABLE £16,681.33

 

OVER 48 MONTHS GIVES A MONTHLY REPAYMENT OF £347.52

sorry i think you've missed out the £940.42 left from old agreement unless im thick (which is entirely possible)

post....the difference you found on the insrances does that actually mean anything ? after all its on the original agreement which has been rewritten

i know im being dumb( yes i am blonde!!!) but is there anything i can actualy do now?

do you have a statement of price on the insurance

no i have no other paper work apart from what ive put onnhere im sending off the sar tomorrow morning with the postal order

how long does it take on average to come back to me?

Yes your making sense

 

My slightly devious mind has just thought of something IF the New credit agreement has been mislaid then how can they proove that you owe them money?

DOESNT IT FOLLOW THAT IF IM MAKING REGUKLAR PAYMENTS THEN THEY COULD ARGUE THAT I DO OWE THE MONEY ELSE WHY WOULD I BE PAYING