Welcome Finance - Please help

[WHALIP15]

Hi everyone,

 

Firstly sorry if i have posted i nthe wrong palce, i am new and it wouldnt let me create in the FAQ part.

 

I would greatly appreciate any help or advice you could give me.

 

I took out car finance with welcome finance back in march 2008.

 

Originally my payments were £343, but due to unfroseen circumstances i couldnt afford this 9 months down the line.

 

I spoke with welcoem and they agreed to take off the insurances (which totalled £5000 inc interest) and lower my monthly payment to £200.

 

in 4 years i have missed 3 payments.

 

They are are hounding me this month for a payment saying my car may be repossed if i dont make some sort of token payment.

It was only then that i realised something was a miss - basically i signed a new credit agreement that they said too koff insurances and therefore reduced my payments

but would be over a new 4 year contract...

 

.i have since found out that after paying £9000 to date over 4 years, that i still owe £7000!!!!!

apparently the agreement is over 6 years not 4 and the insurances remain.....

 

. I feel i have been well and truly had by them.

In my own mind i had 5 months or so left of payments....

instead i seem to be 5 months away and they are telling me i could lose my car..

 

..any help would be greatly appreciated.

[dx100uk]

does the agreement say HP?

 

as for the rest

 

you need to get reclaiming on the penalty charges & PPI

 

see my sig

 

also have a read of a few threads here in the welocme finance forum

where i have moved your threas too

 

VERY VERY well known for doing this

 

if you did not sign the new agreement them its unenforceable!

 

dx

[WHALIP15]

Yes it was HP. Not sure if I signed it as it was a few years back now, but I believe I did....what is a sig? Your signature?

[BRIGADIER2JCS]

Yes it was HP. Not sure if I signed it as it was a few years back now, but I believe I did....what is a sig? Your signature?

 

See the information below DX100s post.

[WHALIP15]

Ok thanks

[WHALIP15]

I have had a good read through all of postggjs thread and there is some very useful information.

I am going to formally send off a SAR and CCA request and see what comes back.

 

I have a bit more information regarding my account.

 

I originally opened it in 2008 and paid £344 for 17 months totalling £5504.

this was then reduced for me to make it easier to manage,

unbeknown it was a new 6 year credit agreement at £198.

this was also supposed to have the £5000 (inc interests) of insurances removed (ppi, breakdown, mechanical, shortfall).

 

I have been paying this every month since 2009 and have worked out i have paid £5400 (i have missed 3 payments).

Therefore i have paid in total £10400 to my knowledge,

however they still deem me to have an outstanding balance of in excess of £7000!!!! bring the total to around the £17500 mark.

The car was only worth £6000!!!!

 

It is actually more money than the agreement stated i would be paying back with insurances!!!!

Surely these numbers dont add up.....what can anyone suggest??

I have contacted FSCS to reclaim the insurances, awaiting forms......

[dx100uk]

yep sadly i cant underline what i said in my previous post any further

 

they are VERY well known for this

 

lets await the SAR return

 

add a line to the SAR staing:

 

this is to include copied of ALL/any agreements past or present that i have with you.

this is also to include any local branch customer notes too.

 

then forget the CCA.

 

dx

[WHALIP15]

okay thanks keep you posted

[Armsoft]

Just remember, as soon as you go through the FSCS you lose 10% of what your owed (they only pay out 90% of amount owed). And you can't claim interest on it through them either.

[dx100uk]

sadly you have no option but to use the fsfc

 

dx

[dadofholly]

sadly you have no option but to use the fsfc

 

dx

 

Yes that is correct - because Welcome can't pay what they owe and are in default. Hypocrites anyone

[WHALIP15]

Hi everyone,

i havent scanned the images, will do it tonight but i have them credit agreement from welcome....

 

.first thing i immediately noticed was the bad imitation of my signature at the bottom. this def wasnt mine.

 

secondly all of the numbers have been written in pen not printed properly

so this effectively could have been editted by them anytime.

 

and thridly this is the worst copy of an agreement i have every seen, i can barely read the writing on it.

it is like the orignal has been scanned in using a poor scanner and then they have printed out the poor quality scan..

..also the numbers arent right..

 

...as i said above i orignally signed an agreement for £340 a month,

but this was too expensive and after a year and half

i 'signed apparently' a new one for £200 a month.

 

i took the original out when the car was worth 6000 i beleive,

plus 5000 interest (these numbers are from memory) over 4 years, totalling £11000 in total,

then £5000 extra with insurances (made up of insurance and interest on insurance) so this totalled £16000.

 

However there are no insurances on the new agreement

just charge for goods which is for some reason £9500 plus then interest of £5000 totalling £14500...

..clearly something is not right here..

...its as though they have refinanced my £6000 with there interest over term (£5000) added on less what i had paid.

...therefore i am effectively paying interest on interest...

 

...i have been payign for this car since 2008 which should have been for £11000 as i cancelled insurances,

therefore (340 x 17) before new agreement was arranged is £5780 off already.

then a further 30 months @ £200 = another £6000

that means i have paid £11780 (minus 4.89 missed payments

apparently- altho credit file says 3 and was updated on 1st jan)

that is - £1000 so effectively i would have still paid £10780...

..yet i still owe £7000!

 

please explain how this is even possible! they are definitely number crunching me!

 

cheers for any advice!

[dadofholly]

Is that in response to your CCA request or SAR?

 

Thise signatures could be interesting - i already have evidence of Welcome collections depts illegal activities - due to go to the Police very soon.

[WHALIP15]

they phoned wanting this months payment and i asked that the credit agreement be sent out, and thats what they sent.....

[WHALIP15]

On a seprate note, is it still possible to collect bank charges? I had £1400 of bank charge from lloyds over a few years.....are we stil lable to claim these back? not sure if the court ruling last year has scuppered that indefinitely or not. thanks

[dx100uk]

poss under a hardship claim or BCOBS?

but its not like the old days!

 

dx

[dx100uk]

Hi everyone,

i havent scanned the images, will do it tonight but i have them credit agreement from welcome....

 

.first thing i immediately noticed was the bad imitation of my signature at the bottom. this def wasnt mine.

 

secondly all of the numbers have been written in pen not printed properly

so this effectively could have been editted by them anytime.

 

and thridly this is the worst copy of an agreement i have every seen, i can barely read the writing on it.

it is like the orignal has been scanned in using a poor scanner and then they have printed out the poor quality scan..

..also the numbers arent right..

 

...as i said above i orignally signed an agreement for £340 a month,

but this was too expensive and after a year and half

i 'signed apparently' a new one for £200 a month.

 

i took the original out when the car was worth 6000 i beleive,

plus 5000 interest (these numbers are from memory) over 4 years, totalling £11000 in total,

then £5000 extra with insurances (made up of insurance and interest on insurance) so this totalled £16000.

 

However there are no insurances on the new agreement

just charge for goods which is for some reason £9500 plus then interest of £5000 totalling £14500...

..clearly something is not right here..

...its as though they have refinanced my £6000 with there interest over term (£5000) added on less what i had paid.

...therefore i am effectively paying interest on interest...

 

...i have been payign for this car since 2008 which should have been for £11000 as i cancelled insurances,

therefore (340 x 17) before new agreement was arranged is £5780 off already.

then a further 30 months @ £200 = another £6000

that means i have paid £11780 (minus 4.89 missed payments

apparently- altho credit file says 3 and was updated on 1st jan)

that is - £1000 so effectively i would have still paid £10780...

..yet i still owe £7000!

 

please explain how this is even possible! they are definitely number crunching me!

 

cheers for any advice!

 

told ya

well and truely done over

 

happens time and time again

 

time to stop paying me thinks

 

if you never signed that agreement.

 

let them goto court if they dare!

 

search [top right advanced one]

 

for posts by

postggj

 

and also

 

yes car credit

 

you'll soon get the idea!

 

dx

[WHALIP15]

Thanks dx, the new agreement is signed, but I am adamant that its not my signature! Even the attempt at my looped first letter on signature is wrong....however, how could i prove that. Secondly if I stop paying surely they are going to take my car?? I have read through the postggj stuff.....thanks again everyone will post agreements up in mirning

[dx100uk]

they cant take the car without a court order if you've paid more than 50%

 

they'll never go near court with a falsified 2nd agreement

 

this is a very common trick that welcome did with 1000's of people

 

dx

[dadofholly]

they phoned wanting this months payment and i asked that the credit agreement be sent out, and thats what they sent.....

 

Was that conversation with the local branch (I bet it was)

 

Was it the branch that sent you the agreement?

[WHALIP15]

Basicakly the branch in our area closed because of the money welcome owe....ironic....but yes it came from the new branch thats dealing with it who I spoke to.....

[dadofholly]

May be worth trying to send a formal CCA request to the head office - it would cost you a £1 - but would be interesting to see what head office sent you.

 

Sounds like you may have a case for misrepresentation.

 

You definatley need to report this to the OFT.

[WHALIP15]

this is old agreement

Old Agreement.pdf

[WHALIP15]

this is new agreement

New Agreement.pdf

[BRIGADIER2JCS]

That's not an agreement it's a quote = pre-contract information

only, this would not be acceptable as proof an account had been

opened.