Welcome Finance

[maybelline]

nice to hear from you sue, its not nice you are in the situation with them but not alone good luck

[maybelline]

another letter received this week, they have sent all the info they have,however, I need advice on 'original agreement, i.e. the one I actually signed - is this the one they MUST send or is a photocopy acceptable??

 

I still do not have even a photocopy of the car finance contract but they have written in figures I can only 'assume' are correct on to the paperwork, is this acceptable information, any advice would be welcome.

 

does anyone know if there is a prelim letter template challenging unfair charges that are other than failed dd's etc?

[maybelline]

I started with car finance but payed this off with a new loan from them which was secured on the home. I have started a new thread now but I have outlined this already on another thread, suffice to say I have had some real problems with them once I became ill and got into difficulties. I have gone ahead with a Data Protection Act request and also a CCA request serpeately. I have now received a bathc of stuff that is a bit strange. there is a lot of 'story' about me with much detail as to who lives in the house, lots of stuff about my phone being switched off, a record of some of my debit card details still on file.

 

But the copies of the CCA do not appear to be present. they have sent something called WFS Loan Agreement Front Sheet, it is filled out with figures but I have never seen this document and my signature does not appear.

 

They also have a couple of letters from me re arranging DD's for this account and generally updating them as to my difficulties while ill, delayed payment apologies stuff.

 

There does not appear to be any record, automated or otherwise of my actual account, like a statement showing all transactions, only this log which has been kept of my phonecalls, what was said, when I paid by card (this is headed Mida notes) obviously taken from some kind of computer log.

 

advice please. edit - just found some extra documents as this is double sided copies, loan agreement is present but none present the loans it replaces, I want to query the extra sums that were added on for inusurance protection, MIG and arrangement fees for each replacement loan (x3) these sums are hidden in the remaing debt to which they added them and I want to extract this?

 

only wanted to quote my section on WFS front page agreement info - basically this is a sheet of paper filled in by Welcome staff, it is NOT the actual agreement with my signature or a copy of same. I think this means they have not provided a proper copy?

[Grapes]

I think you should write them a letter saying that the level of information is unacceptable and they need to provide you with EVERYTHING they have and if this is all they have they need to confirm it.

And you need to go thru what they have got with a fine tooth comb as they are inclined to hide things!

[maybelline]

thanks Grapes, have done written saying not enough info and they have replied saying they have definitely given me all they have. I just dont know how to proceed on this, I do not agree with the total sum which does not seem to have decreased at all in seven years of paying, I also want to get the default removed, the info on my credit file states I defaulted at a time I was paying regularly (?) none of the years I paid in full on time appear either or anything since I missed a few payments after illness. I think I need to go into court with these people to get some things clear.

[michaele]

Hi,

 

Can anyone give me some advice on this please?

 

I have had loans with with Welcome for a while now. Initially for £1000 then £2500 and now at present £5000. In each occassion the new loan has written off the existing loan. But during the first two occassions I was told I will be charged for late payments and phone calls. Also they said the amount I had to repay would go up because I missed a payment.

 

Can you tell me if this is correct and if I can claim back any charges and how?

 

Thanks

[maybelline]

Hello Michaela, sorry to hear of your problems with Welcome, I am mid challenging them but still working out what parts of the law I need to support my argument. if you look at the Credit Agreements thread there is much discussion on there about the validity of the agreements entered into, the circumstances etc. offering a new loan to pay off arrears is, I think, not allowed according to the OFT website and this is the position I found myself in when I got behind. the statements I have received show this very well so I am prepared to take it into court to demonstrate. Have you sent a Data Protection Act request yet for all your information? I sent mine to the HO address in Ruddington, also send a CCA request with the £1 fee to check they have a true executed (properly signed by you and them) also or is unenforceable. best wishes. thread is Consumer Credit Act Agreements, sorry my mistake michaele:)

[maybelline]

Hi, I have received a form from finance and leasing assoc and I assume I can complain about the handling of my account, unnecessary fees being hiked up and their keeping my bank details on file for years but, I am not confident they will be any use pointing out that they have not sent the original loan details from the start, the car finance, only the figures added on the next loan agreement, does this count as providing a document? I want to see a breakdown of the fees added on the the agreements at that time but they have not provided this. my experience of other regulatory bodies is that they support the companies (re bailiffs and acea) complaints and defend their actions, so after months still have take complaint further:(

 

any replies to this yet????:(

just spoke to Finance and Leasing Assoc again (tel 0207 836 6511) will be receiving some more info in post. does anyone know if they help the consumer or help their member company, has anyone ever complained successfully to them??

[itsmeandonlyme]

just spoke to Finance and Leasing Assoc again (tel 0207 836 6511) will be receiving some more info in post. does anyone know if they help the consumer or help their member company, has anyone ever complained successfully to them??

 

Hello Maybelline,

You did right thing..FLA does helps...Thanks to them couple of WF suffers got there fees back...

Send them the complaint letter with copies of agreement and corespondance(spelling:))))) from WC...they give 21 days to WC to respond...I sent my complaint to FLA and FSA same time....

Good luck..and keep going

 

Regards,

 

Marie

[maybelline]

thanks for your support itsmeandonlyme, copies to both parties sounds like a good idea:)

[itsmeandonlyme]

I included the first request for refund and my second LBA letter, reply from Mr S(WF), copy of agreement and copy of the insurance...you can see my thread Itsme VS Welcome Finance ...everything is there... Plus on the 27th i will send my letter to FOS........already ready))))

its my time to put them under the pressure:D ......

[maybelline]

just going through some more info - more than 5K in MIG charges, thats 8K with interest at 8%, does that sound right? - that takes me over the small claims track route, any advice?

 

when i went through it 'with a fine toothcomb' they had hidden the MIG under the term Fees on their statement, I soon realised they had hidden large parts of this in a similar way.

[itsmeandonlyme]

Hello Maybelline, you have to claim it back. Have you send LBA to WF?If not include extra charges to the claim ammount...If you had...Did you send letters to FLA, FSA, FOS? If yes, than 21 days, but send them the updated figure, explaining that these are the hiden charges...If you done everything and you are in the court stage, than claim all the charges that are on you account.

 

 

Good luck....You will do it...

[maybelline]

I have used the template from the bank charges section, although it is a secured loan it is not a mortgage because it is under a certain amount (correct?) and amended it, leaving in the non complying with UK law and fiduciary bits and attached the schedule. the only other template I found was on ERC and late payment charges on mortgages. not a complaint, the templates are excellent!

 

I realise this is a serious course of action and could end up in court but I believe I am correct, either way, I will know one way or another.

[maybelline]

'interest posting' each month is almost the same amount as I paid each month give or take ten or twenty pounds, no wonder I have paid thousands for several years and still owe, according to them - roughly the same!

[maybelline]

not proceeding at the moment, want to recheck my postition.

[Guest willowb]

Hi Maybelline, I've skimmed through your thread but need you to break it down for me please.

 

You are at LBA stage for the loan, right? Is this for charges, mis-sold PPI, what?

 

You sent a CCA request for the origional docs, when and did you include the £1 po? have you received any certified copies of the origional contract?

is this the one they MUST send or is a photocopy acceptable??

photocopy is acceptable.

 

I'll help you if I can but if I can't I'll try and get someone else to have a look for you.

 

Wxxx

[michaele]

Sorry was unsure whether to start a new thread.

 

Can someone answer me this please?

 

I had a loan for £1000 with Welcome. I missed a couple of payments and was told charges were added onto it as a result. I then got a new loan for £3000 which was to pay off the amount I owed and for some extra cash. Again I ended up missing payments and was told I would be charged.

 

I am not sure what charges were applied. But is there anyway I can get these back or are they entitled to do this?

 

Thanks

[Guest willowb]

You do need to start a new thread and include a bit more info;)

 

Good luck

Wxxx

[maybelline]

They sure are awful ppl to deal with, i am mid arbitration with them re indemnity fees and acceptance fees even though we were already customers. I also have the agreement from the area manager that these fees are not acceptable in this case!!

 

Once i have the full story i will update in my own thread

how is it going sue35? you mention indemnity fees, this is another name for higher lending charge, i believe, and i am claiming it back but confused about interest. did you go to court, did they refund your hlc?

[maybelline]

hello and thanks for replies, yes, sent N1 now for penalty charges, returned dd's etc, not the mis sold MIG, doing that seperately.

 

will come back when the deadline is up, they have acknowledged will defend.

 

just looking at the notes from them, I did a CCA request with fee, also Data Protection Act request and fee, looks like agreement is not properly executed and have sent complaint to financial ombudsman who are interested, want as much info as poss.

 

looking through the stuff from them (WF), they state they have checked to see if my other bills are paid?? how can they do this?

 

the mis sold insurance which with interest comes to over five thousand so how do I break this down for smal claims, any advice appreciated:)

[itsmeandonlyme]

Hello again, i believe you can break it into 2 "from date to date(£2500).....and from date till today(£2500)", 2 N1s...

if i am wrong please correct me....

[maybelline]

thanks again

[maybelline]

looks like this might be the only way forward, had a confused response from financial ombudsman having been encouraged initially, will not post it all up here yet for obvious reasons.

 

just what powers do the regulatory bodies have, why is it all so contradictory, one organisation passes you to the next and so on, it is only here that folks appear to actually know the regs and what should be enforced.

[DADDYSAM]

Could someone advise? I took out a loan of £8000 plus "mortgage indemnity fee of £880 and £235 acceptance fee" from WELCOME in 2003, totalling £9115, I ran into financial difficulty in 2005, hence missed couple of months' payments. After 53 different fees (ranging from £5 to £25) had been charged to the account, they threatened to start a legal action that could lead to my property being repossesed, unless I come to an agreement with them ( that is, to reduce my monthly payment by renewing the original loan), I panicked and renewed the loan.

What they did is closed the original loan account and opened a new one. I just discovered, from the statement they sent to me last week, that on the day the old account was closed I was charged a penalty fee of £160 and interest was also posted on that same day even though there had been a monthly interest posting just nine days earlier. And, on the new loan account a new indemnity fee and acceptance fee which are even more than the initial ones was also added to the balance that was transferred from the original loan account to the new one.

Currently, the original £8000 loan has a balance of £11600 despite the fact that I have made payments worth £6700.

Is the indemnity fee and acceptance fees lawful? Can I claim them back? Can I claim back the "fees" ranging from £5 to £25? If yes, could someone advise on how I can go about it?