Welcome Finance - Is This Enforceable??

[pinklily0105]

just nabbed this off trading standards

 

Signed on trade premises

Credit agreements signed at the trader's premises are not cancellable once both you and the finance company have signed the documents. At this stage, they become legally binding on both parties.

 

but after reding your thread, "forget it" it dont matter anyway. i thought my creditors were stupid, i put my hand over my mouth, these plonkers are in a different league.

 

cab[/quote

 

mmm a little confused now, so because it was done in their office, we don't get the 14 day cooling off period ?

[emanevs]

ick....,

 

I think as long as your signed agreement is say date 01/01/09....

 

and their signature and date is say... 10/10/09

 

ie. within 14 days,

 

they are toast!

 

[pinklily0105]

well going off that then, mine is dated the same date as theirs so I have none !

 

Hope so cause could really do with the 285 quid its costing !

[emanevs]

happy days!!!!!!!!!!!!!!!!

 

:D:D

[pinklily0105]

emanev's, are you not worried about stopping payments as its a secured loan ?

 

only asking cause im in the same boat, and would just be worried cause i think we've all learnt welcome never play by the rules. concerned re charge they have on my house

[emanevs]

cancelled my payments hour or so ago... by direct debit.

 

I expect a phone call in the morning, probably will still be in bed.

 

I suppose you could keep it to oneside just in case....

 

or go out shopping!!!

 

ha,ha,

:D:D

[cab1ne]

just nabbed this off trading standards

 

Signed on trade premises

Credit agreements signed at the trader's premises are not cancellable once both you and the finance company have signed the documents. At this stage, they become legally binding on both parties.

 

but after reding your thread, "forget it" it dont matter anyway. i thought my creditors were stupid, i put my hand over my mouth, these plonkers are in a different league.

 

cab[/quote

 

mmm a little confused now, so because it was done in their office, we don't get the 14 day cooling off period ?

 

sorry but that is "correct"

 

cab

[pinklily0105]

wish I was as brave as you, cause shopping sounds very appealing

 

Gonna wait on my SAR i think, to make sure all is how i think. not got your guts i don't think

 

good luck with your fight

[emanevs]

ive still got my subject access request coming, but they can wait.

 

Hope you didnt sign your SAR?

[emanevs]

I mean, use the tamper proof sticker... and sign.

[pinklily0105]

all well advise on the SAR by post, so all covered on that angle thanks

[emanevs]

ok, sorted...

 

im going to bed!

bye.

[pinklily0105]

a little worried on what cab1ne is saying, that cause we signed at their office no cooling off.

 

i'll be gutted !

[cab1ne]

a little worried on what cab1ne is saying, that cause we signed at their office no cooling off.

 

i'll be gutted !

 

dont worry about the cooling off period you have got bigger fish to fry.

 

the cooling off periods are confusing so i shall try and explain.

 

 

• Signed on trade premises cancellation
  Credit agreements signed at the trader's premises are not cancellable once both you and the finance company have signed the documents. At this stage, they become legally binding on both parties.
  

You may, however, have a very short window of opportunity to withdraw from the deal if the creditor has not yet signed their part of the agreement. In these circumstances, you should telephone the creditor immediately to establish whether the agreement has been signed. If not, inform the lender you wish to withdraw. Make a note of what was said and the name of the person you spoke to. You should then confirm your withdrawal in a letter. Send it by recorded delivery and keep a copy. Once you have withdrawn, you are entitled to a refund of any deposit you have paid. You should be aware that many retailers are entitled to sign credit agreements for, and on behalf of, the creditor and, therefore, you would not be able to withdraw as it would be binding when signed by the retailer.

 

 

 

• Signed at home cancellation
  You have a statutory right to a cancellation period if you signed your credit agreement away from the trader's premises, e.g. you signed at home and you talked to the seller about the deal face-to-face (rather than only on the telephone). The agreement should contain a notice of your cancellation rights.
  

When you have signed the agreement, it will be sent to the finance company for an indication of the company's acceptance of the deal by adding an authorised signature to the agreement and sending you a second copy through the post. The cancellation period runs from the date you signed the agreement and ends five days after you received either the second copy signed by the creditor or a separate notice of your cancellation rights. In such circumstances, it is essential that you act quickly and notify the creditor immediately, in writing, that you wish to cancel. If you have not been given notice of your cancellation rights, the agreement is unenforceable. Keep copies of any correspondence you send and obtain proof of postage.

When an agreement and any linked transaction are cancelled, you are entitled to have any deposit you paid returned.

If you have entered and then cancelled an agreement, you do not have to pay interest on money received if it is returned within a month of cancellation or, if the credit is repayable in instalments, before the date of the first payment.

If you have received goods financed through an agreement, which is subsequently cancelled, you are obliged to take reasonable care of them and not dispose of them until they are returned to the supplier.

 

 

Distance Marketing Cancellation

The Regulations govern the sale of pensions, mortgages and other financial products by means of distance communication. This includes on-line sales, sales by telephone, fax or post and simply any sale where the contract is concluded yet the parties never meet face-to-face. This article will therefore be useful reading if you partake in the financial services industry as the Regulations will most likely apply to you.

Note, ‘financial services’ is widely defined in the Regulations, therefore think twice before you disregard them because you think they do not apply to you. For example, it includes any service of a banking, credit, insurance, personal pension, investment or payment nature.

The Regulations allow consumers to withdraw from financial services contracts entered into at a distance. This terminates the contract from the notice of termination being given.

The cancellation period begins on the date of the conclusion of the contract and ends 14 days from that date. The contract is concluded at the point at which the copy of the prior information is sent on paper or other durable medium, hence the commercial interest in sending the information as soon as possible.

In life insurance contracts the cancellation period runs from the date the consumer is informed that the contract has been concluded. The cancellation period in life insurance or personal pension contracts runs for 30 days instead of 14 days.

 

 

cab

[emanevs]

which one applied to me??

 

soz!

[cab1ne]

which one applied to me??

 

soz!

 

Distance Marketing Cancellation

 

cab

[pinklily0105]

sorry i know im being really thick ! but you say don't worry about cooling off cause i have bigger fish to fry what fo you mean ? its not having the cooling off that would make mine unenforcable, but from what ive read now im not entitiled to it ?

 

my credit agreement for the secured loan has our and welcomes signiture on same day.

 

Post seemed to think i had a case, but reading this now im not sure !

[postggj]

Hi Pinklilly

 

Is Does Get A Bit Confused I Know

 

Ill Let Cabine Tell You In English

 

He Is Much Better At It

 

Its Still Game Over For Welcome By The Way

[cab1ne]

sorry i know im being really thick ! but you say don't worry about cooling off cause i have bigger fish to fry what fo you mean ? its not having the cooling off that would make mine unenforcable, but from what ive read now im not entitiled to it ?

 

my credit agreement for the secured loan has our and welcomes signiture on same day.

 

Post seemed to think i had a case, but reading this now im not sure !

 

you seem to be forgetting the "DODGY" insurance policies that are incorporated into your agreement,

 

cab

[postggj]

Ime Off To Work Now

 

Ill Leave In Your Hands Cabine

Its A Bit Difficult To Explain In English

[pinklily0105]

ok thanks, i do hope im not coming across as stupid, just want to make sure i have my facts correct.

 

so i can get them on the insurance, but i can't get them on the cooling off period because it was done in their office - is that right ?

 

post, just to go back to thread 56, about face-to-face and it being all over for welcome ?

Edited August 28, 2009 by pinklily0105

[Fester Tester]

Pink, if your agreement is anything like mine, not only will it say that you have no right to cancel but confusingly, it will also have a paragraph saying you should have been given a copy 7 days beforehand to consider if you want to go ahead.

 

Didn't happen in my case.

[pinklily0105]

yes mine says thats about 7 days, but i haven't had a copy. The only thing we have is a breakdown of costing dated before but no agreement.

[cab1ne]

ok thanks, i do hope im not coming across as stupid, just want to make sure i have my facts correct.

 

so i can get them on the insurance, but i can't get them on the cooling off period because it was done in their office - is that right ?

 

"ok" playing devils advocate.

 

on the insurance [problem] you have a good case,

 

on the cooling off period you had face to face contact on more than one occassion, so that is going to be a tough nut to crack.

 

whereas emanev had no face to face contact and signed off the premises, emanev has the 14 day cancellation rights. thus making his "pay day" before the 14 days had ended a definate no no. also correct me if i am wrong, your policies include a life insurance, so in that case for emanev the life insurance should have had 30 days cancellation rights. confusing i know but thats what the regulations say.

 

cab

[cab1ne]

Pink, if your agreement is anything like mine, not only will it say that you have no right to cancel but confusingly, it will also have a paragraph saying you should have been given a copy 7 days beforehand to consider if you want to go ahead.

 

Didn't happen in my case.

 

have you sent a S.A.R

 

cab