Me and Welcome Finance Loans and PPI REclaiming too

[kregrs]

Surely they need the original to enforce it full stop?

[kregrs]

So, whats my next move? I thought the whole idea of the cpr bit was to get them to disclose the original, which they haven't.

[kregrs]

Back in July I sar'd Welcome, and in the stuff they sent back I noticed some items were missing, namely paperwork relating to a secured loan from 05. So, I wrote back and said it was missing, got the usual reply of thats all they had. So yesterday, having written to them again with no reply, I rang them. I know it goes against advice on here to ring, but I finally got somewhere with a phone call. After being fobbed off again with the thats all we've got line, I started politely telling the lady I spoke to what I thought, finishing with how I'd be making a complaint regarding the incomplete sar. So she decides to have one last look, and manages to find the info I want, on their system. The details and info I want should be with me sometime next week, but I'll keep chasing it up if it isn't. When she found it, the excuse changed as to why they never sent it, its now that its because its a different account number to my car finance account. She couldn't grasp that a sar should be for ALL info relating to a customer, not just one account.

Oh well, lets hope I get this info now, so I can press on with claiming my Ppi back.

[Guest Old_andrew2018]

What a bunch of lier's they (welcome) are fully aware of the requirements of a SAR.

Quite a few people who dont know what information should be supplied would be easily fobbed off, clearly you know your rights.

[kregrs]

Finally arrived today, single sheet as a statement, and copy of cca. A lot of 'Ad Hoc' charges on statement, I'm assuming Insurance rebate is supposed to be a rebate of PPI? Because if it is, I don't recall receiving it. Total insurances (PPI and Medicare) = 974.75, insurance rebate is/was 631, but I dont agree with it. I'll try to scan the agreement and statement up in the near future so people can have a look and see what they think.

[kregrs]

As I'm unable to scan up the statement etc provided by Welome for an old loan (taken out and repaid in 05), I thought I'd put some figures in here for people to peruse. And can someone explain what Medicare is please?

Right, Loan taken out was £2500. PPI and Medicare was 979.75. Acceptance fee is £235 and mortgage indemnity fee £275. Total amount of loan 3989.75. Rate of interest was 2.1% per month and 37.60% APR. Monthly payments of 117.57 over 60months.

Now, I understand I can claim back the PPI and medicare? as mis sold. As the loan has already been repaid, I'm guessing they'll have to recalulate the settlement figure, so as not to include the PPI etc, and any difference between that and the settlement I paid would be due back to me? possibly plus 8%?

 

Also, the last few entries on the statement are from when the balance was settled. Does anyone know what the Fee Rebate would be? There are 2 entries next to Fee Rebate, one of £207.08 and the other of £176.96. Also Insurance rebate of £637.46, interest of £87.20, Settlement Penalty Interest £206.43 and finally settlement by cheque of £3424.37.

 

From those figures, can anyone work out what the 'new' settlement figure would be, and how much I could expect to get back from Welcome?

 

Thanks in advance.

[mark1arby]

kregrs. You need to post up the agreement before any body can comment. Have you any friends who will let you borrow a scanner. Or is there an Internet Cafe nearby?

 

It really is best if you can post it up.

 

Cheers, MARK

[kregrs]

I'm working on it, should be able to scan it this week sometime.

[pwg6565]

As I'm unable to scan up the statement etc provided by Welome for an old loan (taken out and repaid in 05), I thought I'd put some figures in here for people to peruse. And can someone explain what Medicare is please?

Right, Loan taken out was £2500. PPI and Medicare was 979.75. Acceptance fee is £235 and mortgage indemnity fee £275. Total amount of loan 3989.75. Rate of interest was 2.1% per month and 37.60% APR. Monthly payments of 117.57 over 60months.

Now, I understand I can claim back the PPI and medicare? as mis sold. As the loan has already been repaid, I'm guessing they'll have to recalulate the settlement figure, so as not to include the PPI etc, and any difference between that and the settlement I paid would be due back to me? possibly plus 8%?

 

Also, the last few entries on the statement are from when the balance was settled. Does anyone know what the Fee Rebate would be? There are 2 entries next to Fee Rebate, one of £207.08 and the other of £176.96. Also Insurance rebate of £637.46, interest of £87.20, Settlement Penalty Interest £206.43 and finally settlement by cheque of £3424.37.

 

From those figures, can anyone work out what the 'new' settlement figure would be, and how much I could expect to get back from Welcome?

 

Thanks in advance.

 

Taken from the Welcome Website mate.

Note the Medicare Cover.

Protect...your payments

 

If you've had problems keeping up with your repayments in the past you know it makes sense to protect yourself however you can. And with Welcome you can protect yourself against the unexpected!

Here's some of the ways we could help you, but don't worry about making a decision now. Simply mention the cover you are interested in when you speak to our friendly, helpful advisers who'll explain how it all works and help find the policy that is right for you.

Payment protection

 

Who would make your loan payments if you were unable to work through accident, sickness or unemployment? With payment protection on your side there’s no need to worry, because your payments could be taken care of until you were fit or ready to return to work.

Lifecare 24

 

No one likes to think about the worst happening. But if you were to die, it would be awful to add to your families’ grief by leaving debts behind you. But with the essential protection of life cover your family would receive a payout should you die through illness or accident that could pay off any outstanding loans and even give them the additional security of a cash lump sum.

Medicare

 

Imagine how you might struggle to make ends meet if you were hospitalised or unable to return to work after a serious accident. Medicare offers you and your family a cash lump sum to make the hard times just a little more bearable.

Homecare 24

 

From a leaking roof to dodgy electrics, there are times when you need to get the professionals in. Homecare 24 offers you immediate help for domestic emergencies with a 24 hour service covering a wide range of problems, from plumbing and roof repairs to lost keys and legal advice.

[kregrs]

Has anyone got the link to a template letter re claiming back missold PPI? I had a look in the templates section but couldn't find it, probably didnt look hard enough lol.

 

Anyway, thanks in advance.

[ozzywizard]

Have a read of this thread, there are some templates in their but its hard to have a standard template as everyones claim is unique to their circumstances hence needing a personnel letter.

[kregrs]

Having finally got my scanner working, I'm now able to post up a couple of documents that turned up in my SAR last year...

The dealer/broker details were already blank when I got it so no idea who it is, although we used a company called Accept to originally sort the finance, although it was pretty quickly 'handed' over to Welcome.

 

 

 

 

I've removed my personal info, but am puzzled by the 'Net Monthly Income 1st Applicant' bit, as a) it was a joint application but there is no mention of 2nd applicant, and b) in no way did our joint monthly income add up to that figure, it was just under half that.

 

Anyway, am I supposed to have this info? And is it of any use?

Edited February 27, 2010 by kregrs
Added info

[postggj]

Its Important I Now See Your Agreement

 

Can You Post A Link

[postggj]

kregs

 

your inn box is full

you need to deleate some messages

 

RIGHT THEN PEOPLE

ITS TIME I EDUCATED YOU ON THE WONDERFUL WORLD OF WELCOME FINANCE AND WELCOME ELITE BROKERS

 

IF ANYBODY IN THERE SAR HAS WELCOME ELITE BROKERS THEN ITS GAME OVER FOR WELCOME.

 

ILL DO GETTING A CAR FROM A WELCOME SHOW ROOM

 

YOU GO IN AND DECIDE ON A CAR, I WONT RUN THROUGH THE PROCEEDURE AS YOU ALL KNOW THAT CON

 

ON THE AGREEMENT, LOTS OF MICKY MOUSE INSURANCE WILL BE ADDED, BE IT PPI, MECHANICAL BREAKDOWN, NUCLEAR FALL OUT INSURANCE

 

NOW IF YOU HAVE A DOCUMENT CALLED WELCOME ELITE BROKERS, THE FUN BEGINS

 

THE DEFINITION OF A BROKER IS THEY WILL SEARCH THE MARKET AND GET THE BEST RATE AND PRODUCT.

 

SAY YOU HAVE PPI ADDED TO AN AGREEMENT OF A THOUSEND POUNDS, WELCOME THEN PAY THEMSELF COMMISSION ON THAT SALE THROUGH A COMPANY CALLED WELCOME ELITE BROKERS

 

THIS COMPANY IS NOT REGISTERED AT COMPANIES HOUSE

 

THEY NOT ONLY SHAFT YOU ON AN OVER PRICED INSURANCE PRODUCT BUT SCREW YOU AN EXTRA 17 TO 25 % COMMISSION ON TOP

 

IF THIS IS NOT DISCLOSED ON THE AGREEMENT THIS COMMISSION PAYMENT, THEN THE AGREEMENT IS WORTHLESS

 

WILSON V HURSTANGER

 

MESSAGE FOR WELCOME

 

SEEMS YOU WERE STILL DOING THIS UP TO MARCH 2008

I HAVE THE WRITTEN PROOF

 

SHAME

[beyondhope]

I want one of these elite broker sheets HMPH *crosses arms stamps feet*

well I have one but its not mine

[postggj]

so you have a loan of £7500 over 48 months @ 40.2 % apr

 

thats a monthly payment of £288.99

interest £6371.32

total payable £13,871.32

 

insurance

 

short fall (gap) £350

monthly payment £13.49

interest £297.33

total payable £647.33

 

stay with me on this

 

loan interest £6371.32

insurance interest £297.33

acceptance fee £195

option fee £100

 

total £6963.65

 

now add loan £7500

insurance £350

 

total amount payable £14813.65

devide by 48 gives a monthly payment £308.61

[kregrs]

So there's a difference between the figures they quote on the agreement and the figures when its worked out, the figures on the agreement are less! Whats the next step?

Edited March 3, 2010 by kregrs

[Us versus Debt]

I have one of those. According to 2 people who used to work at Welcome, if you got your car from wcs or an approved dealership such as carcraft then you will have one too.

 

Getting Welcome to send it is the tricky bit as they are cottening on what causes them headaches.

[beyondhope]

I have one of those. According to 2 people who used to work at Welcome, if you got your car from wcs or an approved dealership such as carcraft then you will have one too.

 

Getting Welcome to send it is the tricky bit as they are cottening on what causes them headaches.

 

 

Ive asked for mine and the request has been ignored surprise surprise as although the fact I have one shows they exist it doesnt really help in as much as I need to see mine so to speak....

[jdene]

Hi beyondhope Having one of these even if it is not yours can be enough to proove in court that this is common practice for welcome, and that should be sufficient for a judge to order them to provide you with the underwriting sheet, it is if you can get the judge to order disclosure that welcome run for the hills, and start to negotiate as they should have done from day one.

[jdene]

You are more than welcome to a copy of mine as well if it helps if you have two or more different copys it shows a history or theme of standard practice.

[beyondhope]

Thanks jdene that would be fab i have one from essexboy which I have included in my pile for fos making one of my complaints why arent wfs giving me the copy of mine so im sure that will start them off on the wrong foot lol I would assume you would need permission from the persons it is though to make it count as proper evidence?

[jdene]

I did a letter for andy a while ago that was giving permission to use in court, dont know what happened there though andy disappeared after lol

[grantyblade]

Trying to get my head around the forms that you are talking about, recently recieved my SAR but don't have a Welcome Elite headed sheet. I do though have two sheets detailing what commission their agents earned from my CCa + insurances from my 2 loans. Would this be of any interest to you or should it be of any use to me to fight them about?

[jdene]

Hi granty balde those are the sheets we are talking about they dont show the commissions on the agreement so you dont know about them when you sign the agreement, that is called secret commissions and is a very serious offence and is viewed as a type of fraud, welcome will not defend any claim in court if the person they are up against has these sheets as evidence.