"Welcome Finance" Pushing the boat to far??

[BeauBrummie]

Hi all,

 

Have a secured loan with this lot, and as I hit hard times earlier this year I asked if I could reduce the payments which they did by 25%.

 

This is ok, but now they have just contacted me with the news that if I wish to continue the arrangement, I must sign a new agreement on their premises 30 Miles away, saying that it now has to be signed "on trade premises"

 

If I do not do this they are saying that they will increase my DD back to the original amount. The new agreement will not cost anymore in charges and I will then have a contract for the lower amount.

 

Now I dont have a problem signing the new agreement but :

 

a) Does it have to be on trade premises ?

b) The original agreement was signed at my home address, so what would be the difference between old and new contracts?

 

Any advice or thoughts greatly appreciated.

 

Thanks

 

BB

[BeauBrummie]

Anybody any thoughts on this one.....please.

 

BB

[Guest Old_andrew2018]

bump

[sillygirl1]

I wouldn't sign anything - they are trying to pull a fast one. If you sign on trade premises you don't have a 'cooling off' period and they will only increase the APR and slap 'administration charges' onto the new 'loan' so you could be paying twice over again....

[BeauBrummie]

I wouldn't sign anything - they are trying to pull a fast one. If you sign on trade premises you don't have a 'cooling off' period and they will only increase the APR and slap 'administration charges' onto the new 'loan' so you could be paying twice over again....

 

Yes Sillygirl, that is what I have found by trawling the internet, Welcome flatly refuse to send the new agreement in the post, nor will they visit me at my home and invitation to sign it.......they say it is a recent "Change of Policy".

The original deal is a good one for them anyway they are making alot of money out me, so why should I visit them to sign something that I wont have time to read and digest properly, not to mention the fact that it is a 60 mile round trip (fuel) and time off from my self employment (wont get paid).

 

Me thinks I smell a rat

 

BB

[BeauBrummie]

Update,

 

Welcome have relented, and they have rep coming to visit me at my home tonight, I think he will probably want me to sign the new agreement there and then, I think I have the right to have at least a seven day cooling off period to allow me to read all the T & C's along with all the other financial information.

 

What do you guys think?

 

Beau

[postggj]

take my word for it

sign on trade premisis and it will be classed as a non canceble agreement.

no wonder they want you to sign in there office, no cooling off period.

 

may i ask how old the loan is

another welcome trick is if the original agreement is crap, they try to get you to sign another.

considering the crap people are giving welcome at the moment, its a possability

[BeauBrummie]

Hi postggj,

 

Original loan is only from April 07 and I have the original copy.

 

Beau

[postggj]

sign at home then

you then have the protection through the cca and a cooling off period.

if at all possable can you post the new agreement, minus personel info on your thread.

use photo bucket , its free

 

be interesting what the latest con welcome are trying to pull, you have the cooling off period as a back up

[postggj]

also go over what you are signing

its unlike welcome to be so persistent to get you to sign a new agreement

[Ell-enn]

Hi there, you should tell the rep you'll read the agreement and if ok you will post it back to them. They're pretty persistent so you will have to be firm, make sure someone else is at home with you to witness what is said. When you have got rid of him compare the two agreements - I bet Welcome have discovered the original one is flawed and want to get you signed up to a watertight one!

 

Ell-enn

[postggj]

my thoughts exactly ell-enn

[postggj]

hi beaubrummie

is it possible minus personell details to post your old agreement

interested to know why welcome are so pursistant

[BeauBrummie]

Ok have had the rep round,

 

The new agreement is on paper alot "Cheaper" than before over a slighlty longer term and at this point I do not see any reason why I should not go ahead but......

 

I will post this new agreement hopefully tomorrow evening when I have time to.

 

Ell-enn....I have not signed, and the rep was almost appologetic with his explanantions to my questions.

 

postggj.... the two agreements are from the same "stable" so to speak so posting old and new would seem pointless, but I need to check and I will let you know.

 

Beau

[postggj]

beaubrummie

the reason i have asked to post the old agreement is the smallest mistake invalidates the agreement

if thats the case you can bet welcome have spotted it.

 

as its a secured loan for a high ammount no doubt, you will be in a very good position to negotiate with welcome if the agreement has not been executed properly

 

but its your choice

[BeauBrummie]

beaubrummie

the reason i have asked to post the old agreement is the smallest mistake invalidates the agreement

if thats the case you can bet welcome have spotted it.

 

 

 

Thanks

 

Point taken......

 

I will post both agreements tomorrow

 

Beau

[BeauBrummie]

Have got the images of the new loan agreement which is exactly the same line by line and word for word as the old agreement already in force just the figures are different

 

 

http://i284.photobucket.com/albums/ll33/Topcat046/DSCF2238.jpg

http://i284.photobucket.com/albums/ll33/Topcat046/DSCF2239.jpg

 

 

What do you good people think?

Edited August 21, 2008 by BeauBrummie
wrong links posted

[BeauBrummie]

I should add to my last post that this is a 10 page document 5 copies of the front page with a set of T&Cs on the back of each copy.

 

Beau

[BeauBrummie]

Any thoughts please on this agreement

 

Thanks

 

BB

[postggj]

hi beau

 

i should have explained my self better.

the thing we are looking for is the way the figures are laid out, total ammount of credit etc

 

can you repost the two agreements with all the finance figures included and the way its laid out.

deleate your name, address account number, signature

 

tell me all so

 

has the original agreement been signed and dated by welcome finance after your signature

[BeauBrummie]

hi beau

 

i should have explained my self better.

the thing we are looking for is the way the figures are laid out, total ammount of credit etc

 

can you repost the two agreements with all the finance figures included and the way its laid out.

deleate your name, address account number, signature

 

tell me all so

 

has the original agreement been signed and dated by welcome finance after your signature

 

Will do, I can tell you that the original docs were signed after we had signed them, they specifically asked us to NOT DATE the agreement.

 

I will see if I can repost the images tonight.

 

Thanks

 

Beau

[tinkerbell20]

subscribing

[BeauBrummie]

Hi all, finally found the time to repost the images as follows so see what you think.

 

http://i284.photobucket.com/albums/ll33/Topcat046/DSCF2242.jpg

http://i284.photobucket.com/albums/ll33/Topcat046/DSCF2243.jpg

http://i284.photobucket.com/albums/ll33/Topcat046/DSCF2244.jpg

http://i284.photobucket.com/albums/ll33/Topcat046/DSCF2245.jpg

 

 

Thanks

 

Beau

[postggj]

hi beau

 

first ill let peter or one of the site team comment first

one of the agreements seems to come under the new consumer regs not cca 1974

 

thats out of my area ime afraid so would be unwise to comment just yet

 

the second agreement is another story

it looks like it has not been executed (signed by welcome)

 

ill pass over for the moment and ill pm some right people in this area

[BeauBrummie]

Can I just say that the "second Agreement" (The White one) is the one that niether party has yet signed......I have to call the rep back to the my house when I am ready and we will sign together.

 

Beau