Help with Welcome Finance

[postggj]

Its About Time I Went To Get My Eyes Tested

 

Ime Going Over The Figures So Give My Half Hour

[beyondhope]

ok im around anyway if you need clarification

[postggj]

Stay With Me

 

These Figures Belong On The Yellow Brick Road

[beyondhope]

im here ooo a trip to oz yay

[postggj]

Right On The Modified Agreement You Have A Loan Of

£8953.08

 

Thats Over 120 Months (ten Years Ouch) At 23.4 % Apr

 

That Gives A Monthly Repayment Of £180.27

Interest Payment Of £12,679.82

Total Amount Payable £21,632.90

 

We Now Add The Acceptance Fee Of £195 With The Interest Of £12,679.82

 

 

To Give A total Amount Of Credit Of £12,874.82

 

Now Add The Amount Of Credit £8953.08 Gives A Total Amount Repayable Of £21,827.90 Ouch

 

Devide By 120 Months Gives A monthly Repayment Of £181.89

 

You Are Short Each Month By £52.29 Now Over 120 Months Thats A Shortfall Of £6274.80

 

Thats With Out Adding On The Interest

 

you Have Been Shafted Big Time

[postggj]

What Is The Interest Charge Stated On The Agreement

[beyondhope]

OMG i need a bottle of wine!!! just as well you had another look!! im guessing this goes in my favour with the court??

[beyondhope]

3293.81

[postggj]

What

 

Over 120 Months

 

THATS 10 YEARS

 

WELL AND TRULY GOOD RIDDENCE TO THIS AGREEMENT

[beyondhope]

yep they took off the gap etc from the first one put it over 10 yrs without saying a word hubby didnt think to check he was just more concerned about getting his payment down as hed lost his job and keeping the car as he wouldnt have found another job without one this was done by a collections office rather than the local office and then passed back

 

sooner the better i actually feel sick that pretty much all figures on this agreement are cr@p even the initial goods value is wrong!!

 

so this is good news for the n1 yes?

[postggj]

Good News

 

I Wish All Welcome Agreements Were This Easy

 

I Take It You Have Stoped All Payments To Welcome

 

 

With Your Say So I Would Like To Give Welcome A Final 14 Day Letter Befor Action, Looks Better For Court

 

Its Only Two Weeks And Ill Do The Letter Now So You Can Send In The Morning

 

We Can Go Straight To N1 So Its Your Choice

[beyondhope]

They havent had a penny since october its been in dispute since november so not paid them since then.

 

Letter before action is fine does it matter my defective default notice is up on friday?

 

Gives you longer to do ya magic on the N1 so im happy to do that no problem at all

Edited January 24, 2010 by beyondhope
spelling

[postggj]

The Dodgy Dn Is Our Ace In The Hole

 

By The Time Ive Finished No Record Of Welcome Will Be On Your Credit File

 

If Your Still Up

 

Give Me An Hour

[beyondhope]

I'll be here thanks for your help post you are a star

[beyondhope]

also the dodgy DN and a notice of sums in arrears were generated on the same date and have different amounts on them ?? dont know if thats any use

[postggj]

the agreement is enough believe me

[beyondhope]

I believe you Im going to stop looking now because I just keep finding more wrong

[postggj]

BEYONDHOPE

XX

XXX

WELCOME FINANCIAL SERVICES

COMPLIANCE

RUDDINGTON FIELDS BUSINESS PARK

RUDDINGTON

NOTTINGHAM

NG11 6NZ

DATE

 

AGREEMENT NUMBER

 

FOURTEEN DAY LETTER BEFORE ACTION

 

DEAR SIR/MADAM

 

AS YOU ARE AWARE I HAVE PUT MY ACCOUNT INTO DISPUTE AFTER HAVING AN INDAPENDANT AUDIT DONE ON MY AGREEMENT.

 

IT IS NOW MY INTENTION TO PLACE THIS BEFORE A CIRCUIT JUDGE TO HAVE THE AGREEMENT JUDGED UNENFORCEABLE.

 

THIS IS IN REFERENCE TO MY HIRE PURCHASE AGREEMENT WHICH WAS MODIFIED ON XYZ

 

THE AGREEMENT IS FOR £8953 over 120 months at 23.4 % apr

That gives a monthly repayment of £180.27

Total interest of £12,679.82

Total repayable £21,632.90

 

Why on the agreement does it state a monthly repayment of £129.60?

Interest payment of £3293.81

£12441.89 TOTAL AMOUNT REPAYABLE????

 

SO NOW LETS GET THE TOTAL AMOUNT OF CREDIT

 

INTEREST £12,679.82 AND ADD ACEPTANCE FEE OF £195 GIVES A TOTAL CHARGE FOR CREDIT £12,874.82

 

NOW ADD THE AMOUNT OF CREDIT OF £8953.08 GIVES A TOTAL AMOUNT PAYABLE £21,827.90

 

NOW DEVIDE THAT BY 120 MONTHS GIVES A MONTHLY FIGURE OF £181.89

PLEASE EXPLAIN THE MONTHLY FIGURE ON THE AGREEMENT OF £129.60

I AM SHORT ON MONTHLY REPAYMENTS OF £52.29 OVER 120 MONTHS IS A SHORTFALL OF £6274.80

 

IN YOUR REPLY PLEASE GIVE A CONCISE BREAK DOWN OF THE FIGURES LIKE I HAVE DONE

 

I AWAIT YOUR RESPONSE

 

BEYONDHOPE

 

 

SEND RECORDED

Edited January 24, 2010 by postggj

[beyondhope]

Thanks post just one point there is a total repayable which is why we were issuing N1 in first place total repayable on it is £12441.89 whereas 120 x 129.60 = 15552.00 (the start amount on statement is £15551.74)

[postggj]

Think Thats It

 

Dont Worry On Welcomes Figures

 

Ive Given The True Interest Payment And Monthly Repayment

 

Lets See Them Explain It

[beyondhope]

Ill just leave the line out that says no total repayable then and let them work it out for themselves Thanks post you really are a an angel even if i do now really need a drink after reading those figures Ill keep you informed and let you work your magic on the N1 (because I dont think for one minute they will respond ) in the meantime. Thank you again

[postggj]

You Know They Are Not Going To Respond But We Can Use This Letter In Court

 

Eight Grand Loan Turns Into 22 Grand

 

Its Criminal

 

Give It A Little While And It Will Be All Over

[beyondhope]

Excellent Will keep you informed in the interim. Thanks again

[ozzywizard]

An absolute masterpiece. . .

[beyondhope]

Post's work i agree!! The agreement on the other hand I dont think id refer to it as that more something that should be hung on the wall as a reminder why to keep ya credit history clear lol Although im sure the comission to the cowbag in the office writing it was excellent!