Welcome Finance any dealings???

[adienotts]

Hi Guys

 

I've just spent this weekend reading through this thread with great interest. Thanks Falcon for pointing the thread out to me.

 

I unfortunately took up an HP agreement with Welcome Finance back in June 2001. The original agreement was as follows:

 

Total Price of goods = £5695

Finance Charge = £2491.80

 

Optional Insurance = £1312.99

Total Optional Insur = £2507.82

 

Total Finance = £10778

 

My total monthly payments were £240.11 per month. Unfortunately within 6 months of taking out the agreement my circumstances changed resulting in a reduction of income. I couldn't afford the monthly payments anymore and as a result my finances were restructured by Welcome Finance leading to an extension of my agreement from 42 months to 60 months and a reduction in payment to £153.16 per month. They took the PPI off my account to help achieve this.

 

To cut a long story short, things haven't been smooth running over the life of the agreement due to further changes in jobs and circumstances, which has led to me paying an even further reduced amount on some occasions or no payment at all in the case of 2 months. I have always tried to pay them to the best of my ability but i have been plagued by harrassment from Welcome finance in the form of phone calls asking me when I will be making a payment. They have often called 5 - 6 times a day on some occasions. Due to my current job, it is not always possible for me to answer my phone.

 

The phone calls have always been a couple of weeks before the payment is due and some occasions if they have not been able to get hold of me 3 days before payment is due, they have called around at my home.

 

The final straw was when I requested a copy of my account statements when I was trying to organise my finances. They cheeky barstewds had the audacity to charge me for every phonecall that they had made before my payment date. They had done this for the last two months showing on the statement.

 

I wrote to them and advised that the charges had been unlawfully taken and that I wanted them refunded to my account. I also asked them for a copy of my original agreement and details of how they had worked out the interest as I shocked at how much was still outstanding (£2658.48 - December 06). I also stated that that their persistent phone calls and visiting my home was harrassment and contravened the harrasment act. I advised them not to contact me by phone anymore.

 

Welcome have stopped the phone calls, reversed my charges for the phone calls between November 06 and December 06 (amounted to £110). Welcome also sent me out a new account statement reflecting the refunds and my original agreement. Welcome blissfully neglected to fulfill my request with regards to the working out of interest.

 

However, it dawned on me that my HP has been modified by Welcome Finance, infact they created a new agreement for me when I they restructured the payments. It even advises on the account statement that this is modified finance.

 

Am I right in believing that the original agreement therefore no longer stands and that the legally binding contract between myself and Welcome Finance is based on the new agreement for the modified Finance? I can remember going into the office to discuss the new lowered rate of payment but can't remember actually signing anything. I have written to Welcome Finance advising this and have asked for signed copy of the new agreement. 16 days later I got a letter from the branch manager advising me to contact her at my earliest convinience to arrange an appointment at the branch!! Why can't they post this out to me, why do I have to go into the branch?

 

I want to pursue them for the rest of the charges on my account and the 5 months of PPI payments which I was not made aware that this was optional.

 

Does anybody have any advice as to where I stand with regards to the agreement please? what if they are unable to supply a copy of the new agreement?

 

Sorry to have waffled on so much but wanted to give everybody a bit of background into the matter. Any advice would be gratefully appreciated.

 

Good luck to everyone.

 

Thanks

 

adienotts

[falcon185]

Hi Adienotts,

Welcome to the thread, first off I would make sure everything is done in writing with these muppets. Send them an S.A.R. with a cheque/postal order for £10.00. This letter can be found in the Bank templates and can be adapted for Welcome as many of us have used it already. Secondly send them a CCA request with the £1.00 statutory fee. Keep copies of all letters you send to keep a paper trail, they cannot deny anything if its written.

They have 40 days to respond to your S.A.R - (Subject Access Request) with all your statements etc.

With the CCA request they have 12 days (+2 postal allowance) to send you a copy of your "SIGNED" agreement. Should they fail to provide this they are then in default. A further calender month after they commit an offence. Once the account is in default you can with hold any further payment until such time as they comply with your CCA request.

Sorry its a long winded answer lol.

Once you have your statements you can work out just how much you have paid, whats left and what charges they have made on your account. Hope this helps.

[holly12]

hi all,

 

i've just got a book out of the library which is a guide to consumer law.

 

i have found a brief passage in it entitled the consumer credit act and "extortionate credit bargains". it says that a bargain is extortionate if it requires the debtor to make payments which are too high and that the debtor can have the case reexamined in the county court.

I believe it relates to the act (s138).

is this relevant and has anyone used this to get their interest or repayments with welcome lowered?

[tysonthetrucker]

sorry every one is there a draft cca letter in templates or is it some form i have to pick up ???

[Yasmin]

Hi tysonthetrucker,link below;-

 

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/516-1-data-protection-act.html

[tysonthetrucker]

thanks yasmin

[adienotts]

Hi Adienotts,

Welcome to the thread, first off I would make sure everything is done in writing with these muppets. Send them an S.A.R. with a cheque/postal order for £10.00. This letter can be found in the Bank templates and can be adapted for Welcome as many of us have used it already. Secondly send them a CCA request with the £1.00 statutory fee. Keep copies of all letters you send to keep a paper trail, they cannot deny anything if its written.

They have 40 days to respond to your S.A.R - (Subject Access Request) with all your statements etc.

With the CCA request they have 12 days (+2 postal allowance) to send you a copy of your "SIGNED" agreement. Should they fail to provide this they are then in default. A further calender month after they commit an offence. Once the account is in default you can with hold any further payment until such time as they comply with your CCA request.

Sorry its a long winded answer lol.

Once you have your statements you can work out just how much you have paid, whats left and what charges they have made on your account. Hope this helps.

Hi falcon

 

Thankyou very much for your advice. I shall get on the case straight away and try and get to the bottom of this.

 

Many thanks

 

adienotts

[sirsaltyhelmet]

If you VT they take the car. However, as the PPI is front loaded you may find you have to pay all the PPI back. They shafted me like that.

[razorc]

hi all , i have been fighting to get the ppi back i was mis-sold , having sent a few letters to them , they have agree to give me a new agreement without the PPI including on the loan and refund me the ppi plus interest

dont know when thou this will be refunded.

 

my loan was took out 3 years ago over 5 years

 

but now the new agreement i got , that i have to sign and send back to them has the loan over 5 years again

 

i phoned them and told them i wasnt signing as i am not taking it over 5 years again , they said it wouldnt be over 5 year , just it has to say its from the time i took it out orginaly.

 

any help on this ? should i sign it ?

 

 

cheers

[LancerQRL]

i wouldnt sign it , it looks a new agreement which will make them more interest out of you- a 5 year agreement is a five year agreement it can only be less if you pay it off quicker

[razorc]

my point as well , a told them i wasnt signing it , unless they gave me another agreement with what was left on the orginal agreement (2years left) so it was 24months not 5year

[razorc]

my point as well , a told them i wasnt signing it , unless they gave me another agreement with what was left on the orginal agreement (2years left) so it was 24months not 5year and give me the refund aswell before i sign.

[razorc]

oops , dunno my it done 2 same posts there

[tysonthetrucker]

hi all called wf on tuesday said i wanted to vt my car they said someone would call me in 24hours from head office anyway got the call back the guy on the phone said i could vt the car but i would still owe them £3400 what the f~~~ is that about i said i wanted a week to think about it.

As i said i have paid them £8400 already he said they dont take in to account the value of the car when i return it so i get nothing for it but still they can examine it and charge me for any damages or repairs on top of the £3400.

Help what do i do vt the car then fight them about the £3400 or keep the car as i have paid £8400 to date for it and fight them another way ???

Already had a call from the RAC about coming to inspect it any idea anyone need to know what would be the best course of action

[tysonthetrucker]

anyway has does anyone know if there is a chance of taking them to court under the Extortionate credit ruling of the consumer credit act ???

[dazza66]

hi all this is my first time on this site and i am finding it very interesting i have sent my first letter to natwest for my statements and was just wondering if anyone has had dealings with yes car credit as they are taking me to court for £5000 pounds for a car they sold to me for £3000 and repossed the car any info would be great

[Megellen]

Hello all.

This is my first (possibly of many to come) postings.

 

Having spent 3 or 4 days reading FAQs and threads on this forum, my head is spinning just thinking of who I can take on first to reclaim MY monies. I think it's a t055 up betwen Welcome or Nationwide!!!

 

I cannot get anywhere at all with the muppets at Welcome as I cannot quote them my original loan amount and therefore cannot get past the receptionists 'security questions' to speak to anyone with a brain cell!

 

Just a brief question firstly:

What is the difference between a SAR and a CCA?

 

Sorry if a dull question - just want to get going!!!

[gurrsview]

hi all, we had dealings with welcome finance a couple of years ago and ended paying alot more than the actual car price.They charged us for late payment,phone calls,visits and letters.We are all payed up now .Does any one know if i could claim back all these extra charges they slapped on .It would give me great pleasure to do so. Thanx

[Smoothy]

Hello all.

 

 

Just a brief question firstly:

What is the difference between a SAR and a CCA?

 

Sorry if a dull question - just want to get going!!!

Answer.......£9!!!

Sorry, I couldnt resist it!

 

A CCA request costs a statutory £1 and is a request for a copy of your executed agreement. To clarify:

 

60 Form and content of agreements

 

(1) The Secretary of State shall make regulations as to the form and content of documents embodying regulated agreements, and the regulations shall contain such provisions as appear to him appropriate with a view to ensuring that the debtor or hirer is made aware of—

 

(a) the rights and duties conferred or imposed on him by the agreement,

 

(b) the amount and rate of the total charge for credit (in the case of a consumer credit agreement),

 

© the protection and remedies available to him under this Act, and

 

(d) any other matters which, in the opinion of the Secretary of State, it is desirable for him to know about in connection with the agreement.

 

 

61 Signing of agreement

 

(1) A regulated agreement is not properly executed unless—

 

(a) a document in the prescribed form itself containing all the prescribed terms and conforming to regulations under section 60(1) is signed in the prescribed manner both by the debtor or hirer and by or on behalf of the creditor or owner, and

 

(b) the document embodies all the terms of the agreement, other than implied terms, and

 

© the document is, when presented or sent to the debtor or hirer for signature, in such a state that all its terms are readily legible.

 

If you dont receive an executed copy of your agreement as per CCA definition within 12 days of your request being received, (when sending use recorded delivery then you can see what date it was received on their website) then they have defaulted, a further calendar month after the default is commited, if you still havnt received your agreement, then they may have commited a criminal offence.

________________________________________________________

 

A SAR is £10 statutory fee. Again send this using recorded delivery and sit back and wait. This request should yield all documentation relating to your account. They have 40 days from receipt to comply with this request.

 

Hope this has helped. Keep us posted on your progress and good luck

 

Smoothy

[ab2mlf]

Hi Guys ive been dealing with WF for 4 years now & iam in process of claiming back my PPI & Charges i sent away my SAR recieved that wrote out my spreadsheet with my preliminary request letter which i sent to my friend!!!! Mr Scotherm in Nottingham today can anyone tell me what i do next Archie

[Smoothy]

Allwo the the time to respond, and in the meantime read through the forum to get better acquainted with what lays ahead.

Some posts in here... http://www.consumeractiongroup.co.uk/forum/vehicle-retailers-manufacturers/

and some here... http://www.consumeractiongroup.co.uk/forum/general-debt/

[Smoothy]

Re Welcome Terms and Conditions

sec 4

 

a)

The goods belong to us and will become yours only after you have paid us all sums (including any late payment interest) due to us under this agreement.

b)

At the end of the agreement, and provided you have paid all monies owing under this agreement, you may buy the goods by exercising your Option unless this agreement has been terminated (the Option). You will be deemed to exercise this Option unless you inform us otherwise by notice in writing at leas 14 days before the final payment is due.

c)

If you do not exercise your option to buy the goods, you must return them in good condition no later than the day the final payment is due.

d)

You must return everything originally supplied with the goods including the registration documents and servicing manual, together with any test certificates. You should return the goods to the local Welcome office, or alternatively to: Welcome Financial Services,

Wilford

Business

Park

, Wilford,

Nottingham

NG11 7EP.

e)

The goods must be returned in goods condition for their age and mileage. If they are not, you must pay our costs to put them in that condition or (if we choose) the reduction in their value.

If I say what I think of their T&C's, I could get banned so I think I'll refrain!

[scousegirl]

we have a loan with welcome and we have no problems what -so-ever, we didn't take out PPI though and the girls in our local office are really nice, not like the ones in Milton Keynes.

[lynnuk]

Hi me an my partner got a car from welcome in november last year it is a ford mondeo 2l tdi ghia when we got it the documents said it was a zetec sport he told us if you sent the docs off they would change it. We sent the docs of to dvla a few weeks later we got them back saying that they couldn't change it we would have to take it into ford to get it sorted. surley welcome should have sorted this out before they sold it is there anything i can do.

[tooly]

HI,

This is my first post on the CAG,been observing the threads for some time now,currently in the process of claiming £1299 off Natwest!!

I had a loan off welcome finance in june '03 for £500 then took out a futher £500 in october of the same year.Paid off total amount over year with the agreement finishing october '04.At the time i was a student and desperate for money as i had bad credit(couldnt go to conventional places ie. the bank!)So in my reluctance decided on welcome because they were the only other lender i could find.Basically what can i claim for?PPI,some of the interest back?I dont have the exact repayment amounts or interest rates to hand but in total i payed around £850-900 on a £1000 loan,which is extortionate in anyones eyes and i would be grateful if i could get some of this back.