Help with 'Welcome' please.

[dawnytrish]

THIS PARAGRAPH IS A JOKE!!!!!!

 

I do note that you may wish to receive specific refund figures at this stage. However, this will depend entirely on how many future payments you make towards the loan agreement. Therefore, I am unable to provide you with a specific refund figure until this process has been completed.

 

Sounds like they want an open ended agreement so they can please themselves on amounts ...and dates.

 

They want the new agreement dated now but say they will back-date it???????

 

Do they think we are Stupid.

 

The more I read the angrier I get.

[beyondhope]

Ok so if they are 'rewriting' it as the same as the old one but without the insurances what the heck has future payments got to do with anything!! Seriously they couldnt organise a p*$* up in a brewery could they! as if you are every going to put your signature to anything of theirs knowing how they play the game there was me thinking a refund is what you have paid not what you are going to pay! silly me eh!

[dawnytrish]

I Know.

The more I read it, the more I can't believe what I am seeing.

[beyondhope]

They seriously impress me with their incompetence i use the word impress very loosely

[ozzywizard]

Yeah I can imagine your frustration there Dawny, its kinda like blackmail, were they saying you dont pay us and we dont pay you. . .

[dawnytrish]

Yeah I can imagine your frustration there Dawny, its kinda like blackmail, were they saying you dont pay us and we dont pay you. . .

 

Well that suits us:lol:

[djwigster]

That must be a standard template response letter as we had exactly the same one arrive on Saturday...as well as a new agreement to sign. The prats have left on the personal accident plan (£195)...cheeky sods.

 

I feel another letter to them coming on

[dawnytrish]

THIS PARAGRAPH IS A JOKE!!!!!!

 

I do note that you may wish to receive specific refund figures at this stage. However, this will depend entirely on how many future payments you make towards the loan agreement. Therefore, I am unable to provide you with a specific refund figure until this process has been completed.

 

I have woken up thinking about this. LOL.How stupid do they think people are...or are they the Stupid ones.

 

 

As Djwigster says...I feel another letter coming on.Going to ring them today to see if they have received second letter and if not will resend it with another letter regarding the above.

 

Will they respond to me about the above as their letter said Final Response.......what do you think anyone????....Please.

 

Thanks.Dawnx

Edited February 8, 2010 by dawnytrish

[djwigster]

They seem to be labelling a lot of their letters with "Final Response" from what I can see.

 

I totally agree with your fraustration Dawn...why can they not give a refund amount to people? The cynical side of me thinks its because any potential refund will dwindle to 0 pence by the time you get it due to extra interest/charges that they will add over the duration of the loan.

 

---

 

Just one question for the knowledgables. At the moment I havent put our account into dispute and have been paying it every month good as gold. With Welcome now admitting the PPI was mis-sold, Im sure Ive read somewhere that this technically makes the original agreement unenforcable as it contains incorrect figures due to the mis-sold PPI being on there. Can anyone confirm this?

 

If this is indeed the case then I think my "final response" will be to put the account in dispute and let them whistle for any future payments.

[ozzywizard]

Dj, I could stand corrected on this but I dont think missold PPI is a reason for putting account in dispute and not paying the loan, as long as all the figures add up and the loan is enforceable then it is best to not miss payments.

Missold PPI is unlawfull and reclaimable but I dont think it can leave the whole loan unenforceable. may need confirmation on this.

[djwigster]

Dj, I could stand corrected on this but I dont think missold PPI is a reason for putting account in dispute and not paying the loan, as long as all the figures add up and the loan is enforceable then it is best to not miss payments.

Missold PPI is unlawfull and reclaimable but I dont think it can leave the whole loan unenforceable. may need confirmation on this.

 

Thanks ozzy, yeah will keep paying until we get confirmation. I will, in the meantime be sending them another letter of complaint, so will see how they respond to that.

 

They say the new agreement is the same as the old one minus PPI but interest on the old one was 72.24....on the new one it's 73.99:eek::eek:

 

 

Just looking through the new agreement they sent us in more detail and yep, you guessed it...old APR=43.1% (bad enough)...new APR=44.04%

 

They just can't help themselves can they. They left the Personal Accident Plan on, haven't taken into account the 8% stat interest, have raised the APR, and won't give a refund figure

 

How are you going to progress Dawn? I presume you'll be rejecting their new loan offer and will end up going to the FOS route?

 

Edit: just re-read post 333. Did you get any progress on the phone? I received the "final response", but will still be sending a "NO THANKS, come up with something better" letter, so will see how that pans out.

[dawnytrish]

Hi Guys.....I would appreciate any views/tweeks etc on the letter I have composed to send next.

 

Also.....Is 8 weeks too long to give them for a response.

 

 

Dear Sir

Thank you for your letter dated 00/00/00 which was in response to our letter of 00/00/00.

However, we have written to you since, on the 00/00/00.Please see enclosed letter which Compliance say has not been received.

 

I would appreciate answers to the points in this letter before I proceed to sign another agreement with you.

 

You state that the restructured agreement that you have sent reflects the same T & Cs as the original document and yet the interest on the old one is 72.24% and on the new one would be 73.99%!!!

 

Also...how can you not be specific on the amount of refund you would be giving until future payments have been met.You should be refunding anything that I have paid over and above the original loan repayments due plus interest at 8%.

This could be worked out by myself if you would supply us with an up to date statement of account as requested on several occassions.

 

I look forward to your full and prompt response to this letter. If this matter is not settled within 8 weeks of this letter I shall be contacting the Financial Ombudsman to investigate my complaint.

 

A copy of this letter is being sent to Compliance and my Local Branch.

 

Yours Faithfully.

 

 

 

 

Thanks for reading folks!!!

Dawnx

 

 

ETA....Djwigster....You posted while I was composing my letter....They say they havnt received our account in dispute letter...they probably binned it as the Postie didnt get a signature for it LOL.He takes one signature for a bundle of letters.....!!!!

Edited February 9, 2010 by dawnytrish

[beyondhope]

I wouldnt give them another 8wks if it was me - they have had one lot already id be more inclined to give them 14 days

[dawnytrish]

Yeah...I did wonder about 14 days...but I know Welcome wont be able to do it all in such a short time.LOL

[beyondhope]

Id just see it as its been dragging on long enough enough is enough 14 days and thats ya lot

[dawnytrish]

Just bumping for anyone elses opinions before I print letter off.

[Major Player]

Yor response is good and polite in the circumstances, certainly agree that 14 days is reasonable seeing as they gave you only 4 weeks to sign the paperwork back.

 

Bunch of cowboys, tells you everything you need to know when the compliance team is the only one not being effected by redundancies cos they're the busiest bit o the company!

[beyondhope]

good point there major player shame they are a bunch of incompetents as well though

[Dibbothe3rd]

ha ha this is the same situation as me Dawny. same letters and everythings. just not received the new agreement they want me to sign.

 

How they cant work out what they need to pay me is stupid as i notified them the account is now in dispute and not paid since thins month and they have acknowledged and upheld my dispute. although they only mention the MBI and not the GAP insurance so I have to write to them again.

 

as far as im aware, they should refund the whole insurance premium plus the interest paid to date + 8% stat interest. I have the T&C for the insurance which states that they were both paid by single premium and not on a monthly payment basis even though I am paying welcome per month for it.

 

Can someone double check that for me?

[pwg6565]

The communication between local branch and compliance is terrible with this lot. One does not know what the other is doing.

As far as Final Response goes I think they just make it up in the hope people will give up and go away. After my ridiculous Fianl Response from Compliance I had the local branch on the phone telling me head office had told them it was ok to chase me again now as all issues had been sorted. What a bunch of chimps !!!

Dont sign anything Dawny until all issues are resolved by Welscum.

[dawnytrish]

No...we wont sign a thing.Have done the above letter and will post it tomorrow Recorded Delivery....one to Compliance and one to Local Branch....see if Royal Mail can at least deliver one!!!!!

 

Dawnx

[djwigster]

I will be sending a similar letter tomorrow...wonder if we get the same response back?

[dawnytrish]

I will be sending a similar letter tomorrow...wonder if we get the same response back?

 

But of course:rolleyes: xx

[ozzywizard]

Good luck Dawny, letter sent looked fine but what timescale did you g for in end ? I agree with Beyond that 14 days is more than enough .

[dawnytrish]

Good luck Dawny, letter sent looked fine but what timescale did you g for in end ? I agree with Beyond that 14 days is more than enough .

 

I asked daughter and her boyfriend as it is his account and they wanted to give 8 weeks because with the account in dispute they aren't paying anything....and it is helping their finances at the moment LOL....so may as well take advantage for a little longer.....

 

And hopefully it is giving Welcome plenty of time to sort it out properly once and for all.

They have no problem with paying back the monies borrowed ...just all the other stuff that was mis-sold.....but certainly dont want an even higher APR.....

 

Thanks for all your help on here Ozzy...It is much appreciated by all.

Dawnx