VW Finance also Welcome finance-please help.

[jombine]

Hi everyone, I'm pleased to have found this site and hope you can help me.

 

1) My wife has a car finance agreement with VW finance that started in Oct 2005. Due to a change in our employment we stopped paying the loan (last payment was Dec '07). Not surprisingly we have now received a Summary Cause Summons from the sheriffs looking for repossession of the car but not for any monetary value. VW will not enter into any discussions about attempting to start payments again, they just want the car back. Can this be challenged and could this be an unenforceable agreement in Scotland?

 

2) I took out a Welcome finance loan for £200 about 8 years ago and have had a few top ups to it, I think I have received about £5k over the years. I have worked out that on the latest one signed in Dec 2006 I'll be paying back over £30k!!!! On the last loan they insisted that it had to be a secured loan. I don't know the exact loan amount but it was definitely under £25k. What is the best thing for me to do with this?

 

3) My wife took out a store card with marks and spencer when she was a student and about 6 years ago they turned this into a credit card. The balance is standing at about £7k and it has been passed to the Moorcroft Debt agency. We are paying £30 a month to a guy that comes to the house to collect it and he marks the total on a payment card. Can we do anything with this.

 

4) Finally, can unsecured loans linked with a together mortgage from Northern Rock be challenged under Unfair agreements?

 

I don't mind my credit rating taking a battering but the most important thing for us it to keep our house as we have our first child on the way. The house payments are fully up to date but the secured loan with Welcome is not.

 

Any and all help will be greatly appreciated.

[MARTIN3030]

Welcome to the site.

Will move your thread for your main questions to the relevant forums.

With regards to Northern Rock-post another thread into the Other institutions forum.

 

Likewise the issues with Moorcroft are best posted in the debt forums.

Hope that helps.

[postggj]

hi jombine

 

with ref your dealings with welcome finance

can you post a new thread on that subject or things will start to get confused

plenty of people have had dealings with these sharks and are more than willing to help

[raydetinu]

I think you ought, as a first step, request copies of the CCA for these, look at the Debt section for to go about this.

You may also getter abetter response if you split the debt situations and post their anyway.

[IdaInFife]

As above you really need to start seprate threads on each but,

 

1, depends on the original agreement. You would need to ask for CPR to check this.

 

2.you would need to sned for a cca aand poss a SAR to check the accounts

 

3.If it is now a cc then you can send for a cca to check if they are entitled to collect on it.

 

4. ain't got a clue as do not understand the q

 

 

Ida x

[medicc3]

Hi everyone, I'm pleased to have found this site and hope you can help me.

 

1) My wife has a car finance agreement with VW finance that started in Oct 2005. Due to a change in our employment we stopped paying the loan (last payment was Dec '07). Not surprisingly we have now received a Summary Cause Summons from the sheriffs looking for repossession of the car but not for any monetary value. VW will not enter into any discussions about attempting to start payments again, they just want the car back. Can this be challenged and could this be an unenforceable agreement in Scotland?

 

2) I took out a Welcome finance loan for £200 about 8 years ago and have had a few top ups to it, I think I have received about £5k over the years. I have worked out that on the latest one signed in Dec 2006 I'll be paying back over £30k!!!! On the last loan they insisted that it had to be a secured loan. I don't know the exact loan amount but it was definitely under £25k. What is the best thing for me to do with this?

 

3) My wife took out a store card with marks and spencer when she was a student and about 6 years ago they turned this into a credit card. The balance is standing at about £7k and it has been passed to the Moorcroft Debt agency. We are paying £30 a month to a guy that comes to the house to collect it and he marks the total on a payment card. Can we do anything with this.

 

4) Finally, can unsecured loans linked with a together mortgage from Northern Rock be challenged under Unfair agreements?

 

I don't mind my credit rating taking a battering but the most important thing for us it to keep our house as we have our first child on the way. The house payments are fully up to date but the secured loan with Welcome is not.

 

Any and all help will be greatly appreciated.

 

I belive that if you default on a secured loan a court order may be put in place, but the debt would only have to be paid back when and only when you sell your house, also given the credic problems of late, the court may well see a sympathetic side to your problems... best bet go and see your c.a.b.

[Mary Montague]

Can anyone please help me?

I purchased a car from Welcome finance in 2005 and was sold the pp insurance etc..the salesman said if I had an accident and the car was written off the gap and pp ins would cover everything. Making my repayments £191 pounds a month. I really diden't mind as I was happy at the time. After having the car for about 9 months I had an accident and the car was written off. My insurance company paid the cars value and the gap insurance paid the rest. Apparently the insurance company was waitng for Welcome to contact them and let them know what they wanted them to do with the car. Welcome did not contact them and this resulted in the being disposed of. I received three letters in the course of three years asking me to contact them. I eventually did and up until now they are insisting I owed them £300.00. I have gone through the right channels contacting the Financial Obusmen etc and I am now at my wits end.

[Mary Montague]