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More Welcome Finance Problems


sprockett
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Just had a call from our local OFT officer - he is coming around tomorrow to pick up all the paperwork we have been sent from WF, including the original agreements from 2004. He said they'll look at it and let us know if the CCA's are unenforceable and if so deal with WF on our behalf...... Can't ask for better than that ! :D

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Got feedback on our so called 'modi agreements' from the trading standards. they rang WF and asked them to send copies of originals and they got just the same copies as we did - i.e. one agreement none of our personal details, or car details, not dated and not signed by WF. second agreement has our details, no details of car, but signed and dated. chap from trading standards also says WF told him we had entered into these agreements on 03/08/06, however the agreement that is dated has 29/09/06 on it !! We've had nothing from WF paperwork wise since our original agreements in 2004 - until we did our SAR that is. Despite putting the account into dispute and stating all contact in writing forthwith, they are continuing to call hubby - who is refusing to take their calls. We're just waiting for them to try and take another unauthorised payment from the bank - can I do them for fraud if they do this ?

So trading standards have advised we go to financial ombudsman with this. Anyone had any dealings with FO and if so was it worthwhile or do you have any pointers/advice for us ?!!:-|

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  • 3 weeks later...

We've now got a letter back from the ombudsman saying we've not waited the 8 weeks so they won't deal with it yet. also got a letter from welcome in response to putting our account in to dispute - interestingly enough this letter now states that we only have one open account not two and also "this account cannot be placed into dispute as welcome finance are not regulated by the banking code". Anyone any ideas what to do next and what this not being regulated by the banking code stuff means to us mere mortals !!!

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  • 2 weeks later...

Hi Post - they sent us a copy of what seems to be a page of our agreement in that it has the usual headings and finance/optional insurance stuff - but then there's a section on the bottom that is headed Commission and has the following :

 

Finance : 549.73

Shorftall Extra : 0

MBI : 0

Emergency Recovery : 0

Collision Call : 0

PPP : 0

Total Commission : 549.73

 

I also noticed that the finance charges seems a bit dodgy - although I'm not very good at working these out so maybe you can help :

 

9995.00 initial cost of car

4891.12 finance charge this is on an APR of 24.2% over 48 months - which compared to the cost of the car doesn't seem right - itsmore like 48.93%

 

Plus of course the 195.00 arrangement fee

 

Also the fax has Rainbow at the top of it and is part of the Payout Authorisation paperwork.

 

Thanks for your help

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