I would like to make it very clear that the Saynotoyes team do not gain financially or in any other way benefits from its partnership with Stephenson. This was made very clear in a previous post by Buzz before the moderator Robertxc made the statement "It's also not clear if the owners of saynotoyes are getting any sort of commission from Stephensons". As Robertxc prefers to ignore my PM to him I will ask the question on the forum. What is it that you are not clear about as Buzz has already explained to you? We have ask the CAG team to remove this post as we feel it implies we could be gaining from Stephensons but they have not done this. We are very disappointed in this action as we feel it leave a wrong impression. Finally I would like to wish all users the best of luck with their issues and hope you all get the result you want.

Yes I agree. Where I said "knowing it was on HP" I was referring to the collector itself. It is paramount that they know this.

If I was in a position where a debt collector was chasing me and took my car knowing it was on HP I would sit back and watch. It would not be long before I was threatening them with legal action. Reckon I would end up getting my debt cleared with interest. Fortunately I'm not being chased and I have no car on HP. Learnt my lesson on the HP side so its the bangers yard for me. Being a limited company is not so clear cut as having a car on HP. If the company owns the car and you are a director then they can come and take it away. The lease suggestion referred to above is the way around this.

No they can not take the car on HP. While the car is on HP it belongs to the finance company. The only time it becomes the owner of the "driver" is when the HP agreement is full and final. Remember while on HP the driver can terminate at any time. If the driver wants to keep the car then he/she would have to settle in full and final to the finance house. The driver can terminate with only one payment left and the car will still belong to the finance house unless full and final settlement is reach. Ther is no part ownership between driver and finance house. It belongs to the finance house until full and final then it belongs to the driver.

Just been informed that the FSA only deal with mortgages and personnal loan. They dont deal with CCA regulated loans. So are your loans with Welcome HP or personnal?

My immediate instinct here is to do a SARN to them and get all paperwork they have on you. I'm sure, under FSA regulations, they have to cover themselves regarding your ability to pay the instalments. It will be worth getting confirmation from the FSA on this.

Does anyone know if Welcome are covered under the FSA. If so then Welcome should have taken nesscessary precautions to ensure you could afford the payments. Think that is what its meant to do.

Thats the million dollar question. If you feel you have a case using this argument then the first thing you need to do is approach Welcome and inform them what you reckon. This basically is putting pressure on Welcome but they could turn around and say "we dont think so, go to court then" etc. So the emphasise will be back on you to go that step further and take them to court. This is the tricky legal road I mentioned earlier. The only people who can make a contract unenforceable is the court. As you know this could be expensive and there is no guarantee of winning. Welcome have you at the moment regarding the APR and the PPI will make them only think. As far as getting them to change it well I feel you will have to go to court or at least threaten such action. It looks like they are happy to give back the PPI but on the APR I think they will just sit back and see what you do.

Guys, I cannot promise anything here but I will look into it for you. This is a new one on me regarding doing something about the interest rate. My immediate instinct is the enforceablitiy of the agreement. If its a possible chance the agreement is unenforceable then there might be something that can be done. Even so I would imagine its going to be a tricky legal road to prove. I shall endevour to find out.

Guys, Not too sure what your issues are with them but this guy asked for his PPI to be cancelled and refunded. Welcome agreeded:- www.saynotoyes.co.uk -> Another Welcome Finance

The Saynotoyes team are in negotiations with a national UK media outlet. They would like your story about Yes Car Credit. Anyone who is involved in litigation with debt collection agencies, anyone who has been threatened with bankruptcy, repossession, etc, in connection with a Yes Car Credit contract please visit the following link: - www.saynotoyes.co.uk -> Media Enquiry Thank you

Mart2k6, Keep track of your payments to the "loan". Keep oncourse with those and see it through. Make a note of the charges they are applying but do not pay them. If you keep track of your "loan" payments then when you do your final payment then amount left should be the "charges". Do not pay this "charges" bill. If you do then you will have to go through the rigmoral of claiming them back. If they chase you for the "charges" after the loan is complete then you are in a stronger position. Possession is 9/10 of the law, let them do the hard work. If it gets that far then the right solicitor should do the trick. Just keep on track with your "loan" payments.

Congratulations Simon, I will look forward to this with interest. Well done.

I'm afaid a voluntary termination (VT) will leave a "coded mark" on your credit file. This mark will be seen by all finance houses when they do a credit search on you. How they judge it will totally depend on the house itself. I have heard stories of someone having a VT on their file but being pushed aside by a certain house because of one reason or the other. I know one companies VT is totally ignored. Suppose it is down to the actual house who you apply to. Whatever, a VT leaves its mark.

Yes the late payment fees only came about after YCC closed its doors as a sales operator. Provident lost around £122 million when it brought YCC to a close. We beleive they started using the late payment fee to recoup some of this loss. Alot of payment fees but these guys will try anything. The deposit on the car is one of a few scams they did. YCC never put prices on their cars. By law all they had to do was put a sheet of the prices somewhere in the showroom. I know for a fact they did not do this at the showromm I went to. How they played it was like this. Say a car is valued at £3000 and you put a deposit of £500 down. What they did was added the £500 onto the value of the car so it appeared on your agreement at £3500. You would not have noticed because they did not put prices on the car windscreen. Adding to the sales pressure of keeping you in a small no window room for several hours is how it help them to get away with it. Thoughs of us who have been through this experience know what I am talking about. Thankfully they cannot do this to anyone else as this battle has been won but the war is not over. We will continue to be their for those victims of YCC to provide support for those who want it. We will have our big day and justice will prevail against one of the biggest business scams ever to hit our shores. I feel better for saying that.