Welcome, PPI, bankruptcy agreement - Please help

[louloutinks]

Hi I am in need of desperate advice.

 

Got car loan for £5797 in August 2004. My relationship had gone downhill due to pressures, I had stopped work to look after my child due to his disabilty and gradually payments were not being made correctly as my partners money was his own (even though he was my sons father and I was foolish enough to put everything in my name). I had paid £972 by the time I recieved a letter of default in May 05 so I paid a lump sum to Welcome of £1500.

 

My partner left the home. I went into the local Branch of Welcome and paid £37 per month for 5months and then I had to go bankrupt as everything was in my name when partner left. I have never been in debt like this and always paid my bills.My Bankruptcy was in April 2006.

 

Welcome agreed that I could keep the car despite going bankrupt as long as I paid £37 per month without fail and they would stop any interest. The official reciever said that at least that way I could build up my credit rating. I was desperate to keep the car because of my child and I only had £49 p/w to live on at the time. Discharged from bankruptcy in 2007/8

 

In 2009 Welcome put my account to the Lewis Debt collections dept (because they were going bankrupt themselves maybe?). How can that help my credit ratings!!

 

I contacted the Lewis Group, who said my balance at default was £6247.80.

 

I questioned them about this but they came out with lots of things which I did not understand but stupidly I believed them.

 

The other day someone told me about the PPI(yes I am sheltered!) - I was told I couldnt have the car without it in the beginning. So I have been looking into things and tonight have sat down and worked out all the payments I made.

 

From August 04 to may 05 I had paid £2657off the original price, leaving £2139.88 then how on earth was the default price so high?

 

It works out as a discrepancy of £4108.08 from when I paid the £1500 lump sum.

 

Oh and another beauty I found out is that the day I paid £1500, my original account was closed down and a new one given to me with a new number. Why on earth would they do this.

 

I would like to get back PPI but am not sure because of the year it was. I want them to tell me why I owe so much money aswell. I have worked out that I have already paid the original price but I still have nearly £4300 left to pay them - what!!!

 

Seeing as no interest (until late) has been put on the account since 2006 how on earth has this amount accrued in 2 years, when it was only some of the time that payments were late or lower than the normal amount.

 

Oh and another thing - I was told by one of the branches to sell the car and as long as I gave them £700 it would be fine. I didn't do this but mentioned it to another branch manager and they said I would have had to go to court if I'd done it - he then screamed at me and he said 'if I told you to jump off a cliff would you - you've got no leg to stand on in court'. He was so horrible that I ended up in tears and I am not a 'girlie girlie'!

 

The car I got from the dealer had DM written in chalk on the windscreen which a mechanic said 'it means the car was from Dagenham Motors auctions'- great. It is too expensive for me to run - I have to save the petrol for school and hospital appointments.

 

What can I do....I feel I have really been conned here and need help.

 

Thanks in advance 80)

[dx100uk]

go get them

 

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html

 

and the fscs stickie at the top of this forum page

 

dx

[louloutinks]

Hi dx and thanks for the link. I found some interesting bits on line re PPI with WF before Jan 2005.

 

'' Annex A: scheme to be carried out by the firm

Subject matter

A.1 The scheme applies:

A.1.1 in relation to the firm’s regulated activities, including in particular the activity of mediating PPI policies on or after 14 January 2005; and

A.1.2 in relation to the activity of mediating PPI policies prior to 14 January 2005.

A.2 The scheme starts when these requirements come into effect and has no end date.

Scheme in relation to pre-regulation PPI claimants

A.3 If the firm receives a complaint from a pre-regulation PPI claimant on or after the date these requirements come into effect (or has not yet sent a final response to such a complaint received before that date), the firm will resolve it in accordance with its obligations, in particular DISP 1, and in accordance with DISP Appendix 3. The firm will not delay sending a final response under DISP 1.6.2R(2).''

Not sure what on earth the above means - can anyone explain this please.

I have just spoken to Welcome and questioned them regarding on the amount owed on my account.

They said that I had already had a PPI rebate of £564. But I can still claim for mis sold PPI cant I?

 

And this rebate that they put on my account means that I have paid even more off my account!

 

With what I have paid (over £5k) and what is owed (£4k) it is nigh on £9000. Ludicrous seeing as they froze the account back in 2006! Charges of £3000 doesn't add up within 2 years of having the car does it.

 

What can I do?

[louloutinks]

Hi all

 

I had HP with welcome on a car, back in 2004. Got behind with payments - not much. Things were looking bleak as I couldnt work anymore as I had a young disabled child to look after. I was getting more and more in debt and I had to go bankrupt.

 

Welcome paid me a home visit and said (before I went bankrupt) that I could make an arrangement with them to keep the car after bankruptcy. I said I would think about it and out of sheer desperation (as I needed a car for my child) I called them and said ok. They said as long as I made payments at reduced rate without fail each month, that after bankruptcy, my credit rating would get better as I would be making regular payments. They also said the price would be frozen and NO charges or interest would be added to the account.

 

Went BR in 2006. But after my BR was discharged they put my account into collections dept even though I had not missed a payment whatsoever. I contacted them recently and they said that I could hand back the car voluntarily and if they were a named creditor on the BR, I would owe them nothing. I said that we had an arrangement at the time of BR so I did not think they were named on the BR because I had informed the Official Reciever about the arrangement and sent them in a copy of the letter about it from Welcome.

 

I called the Official Reciever and they said that Welcome were named on the BR. The Official Reciever asked me if Welcome have been sending me letters about the arrears and asking for the full amount - I said yes they had and now the Official Reciever have asked me to send all the copies of the Welcome letters as they want to reopen my case for BR. They mentioned something about Preferential Payments and I asked would I get in trouble - they said No. I told them I had made the BR aware of the arrangement at the time.

 

Welcome have also been adding HDPI, and Capitilisation fees to my account which I told the OR about. And obviously as they have sent it to collections - my credit history is getting worse not better after going bankrupt.

 

The car is 11 years old and I have have paid over £6500 already an still owe loads on it. I am really not happy what Welcome have done as they have done everything they said they wouldn't - where do I stand?

[louloutinks]

Thing is, I didnt sign anything about this, they just sent me a letter - which I havent got as I gave the Original to the Official Reciever.

 

How can they put it into collections if I havent missed a payment and add HDPI, Offer to Buy charges and Interest to this account.

 

They also said that I had 2 loans with them - no - after I paid them a lump sum they closed that account and made up a new account.

 

Have I been paying for nothing all these years??

 

I am in desperate need of a newer car for my child - this one is so unreliable and I cannot even take my son for a day out because of it. My Mum has said she would get me a car so I can get my son out and about, but because this car on HP is hanging over me, then that is not an option. I can just about afford the petrol as it is a 2ltre.

[louloutinks]

Bumping up as in desperate need of help you guys! Please.......

[dadofholly]

You need to contact the official reciever and get a copy of that letter.

 

Did you ever sign a new agreement with Welcome?

[louloutinks]

No I never signed for a new one. Thing is, if they are on my bankruptcy, then how can they put it into collections.

 

The official reciever have asked me for ALL the letters and threats they have sent me since the bankruptcy too.

[dx100uk]

typical trick of welcome too

they just put the new agreemetn though without ou signing it - could even make it null and void.

 

i'd get an sar off to welcome PDQ

 

if its not got your sig on it, WHO authorised it - not you!

 

i've merged your other thread here too

 

as i bet you've got PPI and PENALTY fees to reclaim as well

 

could wipe the debt out.

 

i wonder what the official receiver wil have to say about an unsigned agreement you knew nothing about [you tthought it was a restructure]

 

dx

[louloutinks]

Thing is, they had already changed my account number the day after I paid them £1500 lump. But I have still got the same account number as I had before the bankruptcy. I know that there was a letter that I sent to the OR as they would not have allowed the arrangement to go ahead otherwise surely?.

 

How can WF put car finance into collections that is already on a bankruptcy - and I haven't missed a payment. As for PPI, they said that they had already given me a rebate of approx £550. The charges they made were ridiculous though!

 

In a recent phone call Welcome finance did state to me that I would not have to make another payment if they were named on the Bankruptcy....well they are a named creditor...have I been paying for nothing.

[louloutinks]

Also I have heard that they copy your signature from another doc - so how could I tell if they done that?

[dx100uk]

still fraud!! whichever way it pans out.

 

if welcome were named on the BR and the OR did not sanction 'arrangement' afterwards

then IMHO you should get all your payments back.

 

not sure,

 

dx

[louloutinks]

What does 'sanction' mean (bit dumb here) and what would have that entailed? What I cannot understand is why they are a named creditor on my BR if the OR allowed the arrangement.

[dx100uk]

agree to it rubber stamp it etc

 

dx

[louloutinks]

oh ok thanks dx. They (OR) never sent me any letters regarding the car/keeping the car. I just found this....

 

If you need your car for work or to get to and from work and the trade value is less than £2,000

then your vehicle would usually be exempt from the bankruptcy estate.

 

This is also covered in Section 283(2) of the Insolvency Act 1986.

 

Even if the value exceeds £2,000 then an arrangement can be made with the Official Receiver/Trustee for you to keep it

providing a third party can pay the difference between £2,000 and the trade value,

or the vehicle would be collected and sold and you could be given up to £2,000 to purchase a replacement.

 

A vehicle on finance is usually exempt as well, providing that the finance company is in agreement

and the outstanding balance on the agreement outweighs the vehicles value.

 

Well the car was not worth anywhere near the £6900 - more like £690 at the time of bankruptcy - feeling slightly that I have been done up like a kipper here

[dx100uk]

then lets get reclaiming?

 

i'd sar welcome

 

dx

[dadofholly]

I agree with dx - get an SAR off to welcome pronto - would also lodge a formal complaint with the Office of Fair Trading - tell them how you have been treated and about the forged docs etc.

[louloutinks]

I have a copy of a SAR to send off but I haven't got anything from them so I do not know if they have forged my sig. I shall have to get that off right away.

[louloutinks]

I have spoken to the official receiver and they told me to contact Welcome. When I spoke to welcome the guy said he was drawing back my account from Lewis and sending it to the bankruptcy dept. He said once they verify that they are named on my bankruptcy in 2006, then they can wipe the debt off. He said he will ask for a rebate, write account off and amend my credit file.

 

What do I do - do I trust them - I am keeping in contact with the OR and am also going to call financial ombudsmen.

[dx100uk]

looking good

 

you should have asked for this in wtiting as you need to

post evidence to 'whomever' that this is the case.

 

it might also be useful for compensation of eporting false data to the CRA 's.

 

[typically £1000 per entry]

 

dx

[dadofholly]

I have spoken to the official receiver and they told me to contact Welcome. When I spoke to welcome the guy said he was drawing back my account from Lewis and sending it to the bankruptcy dept. He said once they verify that they are named on my bankruptcy in 2006, then they can wipe the debt off. He said he will ask for a rebate, write account off and amend my credit file.

 

What do I do - do I trust them - I am keeping in contact with the OR and am also going to call financial ombudsmen.

 

No never trust them - in fact, do not even speak to them on the phone and mke them put everything in writing.

 

It is also very important that you report this to the OFT - Companies like this will only be stopped if every one reports their behaviour, it is impoertant to help others in the same position.

 

And don't let them fob you off - still send the SAR.

[louloutinks]

On your words dx, I called them and asked for it in writing - now this member of staff have told me that the account cannot be drawn back from Lewis until the Bankruptcy dept look into it first - I asked for this in writing and they told me to call them tomorrow (as it was 5pm) and speak to the bankruptcy dept......what I am worried about, is if it is drawn back from the Lewis Group, to Welcome, it will be harder to get a rebate as WF are in default.

 

I have also read that they can only send you one default notice section 87 - they sent me one in May 2005 and cancelled the HP agreement and then sent me another default section 87 in Oct 2009.

 

They have been adding capitalisation and HDPI, and right to buy fees (that I did not ask for)....didn't think they could do this when the HP is terminated (twice lol) and they are a named creditor on the bankruptcy.

[dx100uk]

exactly

 

we'll catch them out

 

and reclaim afterwards too!

 

dx

[dadofholly]

Have they terminated the contract? they may have sent default notices but this does not mean they have terminated the contract - unless they have sent a notice of termination.

 

The other thing with welcome is that none of their default notices are compliant with the CCA - so they are unable to terminate even if they wish to. But let them think they have.

 

They can send out more than one default notice - but they re unable to register a new default - unless the first default notice has been complied with.

[louloutinks]

Hi Dado, In 05 they sent me a section 87 default and then a couple months later they sent me a letter that states 'in order to protect out interests, your Hire Purchase Agreement is now formally terminated'. This was after I paid them the lump sum of £1500, then they changed my account number - then they sent me the termination.

 

I have checked with the credit ref agency and they put it into default in 2009 - after my bankruptcy. How can they do this? They have been taking money from my account without fail every month since 2005, and when THEY were going into default, they put my account to their collections dept, in the hope to still claw back the money in case Welcome went under (lo and behold, Bovis bought them out in 2010)- now it is a black mark on my credit....really annoyed about that.