Welcome Finance - This company needs to be banned.

[andie_303]

sorry to be a pain but can you have a quick look at mine

 

http://www.consumeractiongroup.co.uk/forum/payment-protection-insurance-ppi/181007-andrea-welcome-finance-ppi-new-post.html

 

I have uploaded on there all the paperwork they supplied the court for their defence including a statement of price showing the monthly breakdown and clear as day acceptance fee is included - GOD DAMN IT - I wish i'd known this 2 years ago and not when I only have 9 months left!! So what do I do now do I send them a dispute letter?

I'm already in court with them for mis-selling PPI if I just stop paying will this affect my court case?

 

Thanks

[andie_303]

just read up on that case ha ha Welcome getting a letter to tell them to go to hell then - and I'll still get my £3000 back (unless they go belly up first!!)

[Sol]

Yep it definitely looks as though they've charged interest on that......naughty Welcome! It was written in 2004? Apparently most, if not all of their agreements before 2007 may be unenforceable.

[andie_303]

No it was 2007 but Jan 07 so maybe they hadn't got enough money to print of new agreements yet by then - right thats in the Welcome can kiss my proverbial saves me £190 over the next 10 months and if I get my £3000 PPI back I'll be in profit over this agreement lmao

[Sol]

That's a great find though, as I'm sure Welcome wouldn't have ointed this out lol

[andie_303]

just also not that it matters but i'm really picking stuff apart now - my acceptance fee was £75 they charge me £3.40 over 36 months that equals £133.20 differece being £58.20 in interest. £58.20 on top of the original £75 is (I bet i'm being thick and I've done this all wrong but....) 77.6% interest - do they pull these figures from the air or what??

 

Also just looking at this statement of price and not sure how well it can be seen but 1st person lifecare 24 just noticed the term 60 months?? my loan is over 36 so how can I be being charged 60 months for lifecare??

 

Do you think I can use this in my court case that they look like they are charging me more than they should have been anyway??

[andie_303]

Jeees why didn't I actually read this stuff properly before today - I've only had it 2 weeks but I've just made a payment to them and could have saved myself some money.

 

 

Also the case you referred to Wilson V First County Trust - it seems she actually got her money back has that set a precedent - am I able to ask Welcome for the money back I've paid them or am I really pushing my luck?

[felixflyer]

Hi

 

I have received all my info from Welcome in response to my SAR and i have a few questions. If anyone can give me some advise i would be very grateful.

 

There is load of pages that are transcripts of phone converaations and letters between myself and Welcome. It keeps saying 'Acc assessed for aoe' What could this mean? At first it says 'Acc qualifies' Then later it says 'Does not qualify for AOE as incorrect NOD issued. Should be interest bearing NOD'.

 

Next i have another transcript going from 2002 to present. However this is not for me or my account. It is in relating to someone else and has full list of payments names amount etc. Luckily only the last 4 digits of the card but it does show expiry dates and phone numbers, employer etc.

 

My agreement looks enforceable but is here

 

http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/165462-welcome-finance-problems-2.html

 

Regards

 

Felix

[eeeezzzyy]

This is a great day, i cant wait for my monthly phone call asking for money !!!...Just been for another drive round by Welcomes Car Showroom/dump near me....you'll be pleased to know the warehouse....is totally empty.....Are we witnessing the last days of Cattles/Welcome ?????

[rikk47729]

HI,

 

I posted a question today (POST335). I to have the acceptance fee on my agreement that they are charging me interest on. Does this mean my credit aggrement is void? If so can they reposess my car if I refuse to pay? Or do I keep the car and tell them to take a hike.

[Sol]

Hi Rikk

 

If you are certain that the Acceptance Fee has been included in the loan, and interest has accrued on it, then the agreement is unenforceable.

 

Can you post it on here (without personal info) for us to look at?

[nmp]

Welcome Finance are a bunch of cowboys seriously just dont pay it! it will be wiped off the credit file in 6 years (thats if it even gets listed on the credit file)

Also, I think your son should request sight of the signed CCA. (WELCOME NEVER KEEP RECORDS OF ANYTHING)

 

gOOD LUCK

[Voda]

Morning eveyone,

 

Share price has gone up slightly.

 

It's now 3.11 !!

 

It's going down minute by minute ...now 3.04

 

See: http://www.cattles.co.uk/index.php?about_us_

 

Latest share price is 2.65

 

See: Cattles | Home

[Sol]

It's now at 2.91.

 

Seriously, I think this company is finished. I'll be making a claim for PPI when I receive my SAR and there's plenty doing this, as well as their own management not being able to manage. lol

 

Bye Welcome x

[082stewie]

It's the day traders fighting over the scraps, the share will go up and down as they fight for quick buys and sells. The end won't be long now.

 

They are meant to list results on Friday, then it really is goodnight Welcome.

[Sol]

Results? Are these the results that Cattles has been holding for a couple of weeks?

[082stewie]

Yup! They have kept the results on a very very low key and have not announced it openly yet.

 

I am debating taking the day off work on friday to go and celebrate!

[andie_303]

Also the case you referred to Wilson V First County Trust - it seems she actually got her money back has that set a precedent - am I able to ask Welcome for the money back I've paid them or am I really pushing my luck?

 

Does anyone know an answer to this I am writing to Welcome today to tell them their agreement is rubbish and I am stopping payments but from what I can see about this case the woman actually go ther money back - can I ask welcome to give me my money paid back? As I am litigious in nature and am already suing Welcome I would relish the chance to sue for this as well - but only if i'm likely to win

[eeeezzzyy]

This gets better and better by the day, ive done my Subject Access Request...gonna drop it in personally to the local flea-pit office on Friday !!!....tell them how sorry i am about Welcomes current plight :D:D....i do hope they ask me for a payment whilst im there !...

"Can we sort out March's payment please"

"Erm given your current situation and the probability that you'll all be all the dole etc etc very soon ill refrain from helping cattles financial plight"

[nicola83]

i was suppose to hear from welcome a couple of days ago but they never got in contct i threatened them with court and funnily enough i havent heard anymore ?????

[blondbomb09]

I have been trying to get information from Welcome, as I received my SAR and it seems they have added interest onto my acceptance fee. I rang them to ask for written details of how they got to the interest figure and I was told in no incertain terms, that I would not be able to receive anything in writing!!

 

I then sent an email of complaint to them and cattles and also to the MD of cattles, requesting this information be sent in the next 7 days. I also rang the FOS and made an official complaint and they were also going to write to Welcome.

 

I got home form work yesterday to find a letter from them, offering me 50% off the amount I owe, if I pay by the 21st of this month!! (although, the amount I had to pay was left blank, with just a £ sign, they are very competent at administration...NOT)

 

Do you think they are trying to get something out of me, as they know they have made a mistake with the interest on the acceptance fee? And should I ring them for the settlement amount and consider it, or would it be unenforcable?

 

Thanks

[Voda]

Share price is 2.85 this morning

 

Cattles

 

From all the posts on here, this company is in total panic with all remaining staff trying to get as much money in as possible.

 

Talk about rats leaving a sinking ship !!

[andie_303]

Blondbomb

 

Interest on acceptance fee = unenforceable

 

hence their sudden 1/2 off offer to you.

 

I have just found the same thing on mine however mine is a bit different to others I see on here - my agreement is very misleading and on the face of it looks like my contract is enforceable as the acceptance fee is all listed seperately and does not 'look' like it is added in to anything - until you get a statement of price (the court ordered WF to send me that as I am suing them) and then lo and behold you see the interest added on in a monthly payment breakdown - very sneeky Welcome - complained to the FOS about this yesterday as I think they have been deliberatley misleading canx my DD and am just filing in papers to sue them again this time to get all my repayments back.

[blondbomb09]

Hi Andie,

 

I have been reading your posts, hope all goes well in court (I can't see why not!!)

 

My agreement lists the acceptance fee as seperate, but when I received my statement it includes it for interest. I borrowed 2500 and they added 75, so my statements starts at 2575 and they have then worked out the 4% interest on top of that.

 

When I rang the FOS, they were not surprised at all by what I had to say and said there isn't a day goes by without a few complaints about Welcome.

 

Good luck

 

x

[andie_303]

can someone take a peek at the letter below for Welcome regarding my agreement being unenforcable - hope I got my facts right

 

Dear Sir/Madam

 

I am writing to you with regard to the above account. As you are probably aware this account is currently in litigation due to your company’s mis-selling of insurances. However in reading the documents your company has provided to the court I have come across what I believe and can prove to be a breach of the Consumer Credit Act 1974 hence rendering the above account unenforceable.

 

I have discovered from your companies paperwork that whilst my agreement shows an acceptance fee of £75 that is calculated into the overall loan total your company has failed to disclose on this document that the £75 has had an interest rate applied. This contravenes s.61 of the Consumer Credit Act 1974 and has been proved in court through Wilson V First County Trust.

 

I would also say that I feel your company has deliberately mislead their representations as the acceptance fee is clearly shown as a separate figure on the agreement (CP2) I will be referring this matter to the Financial Services Authority as I deem this to be a direct attempt to mislead the customer.

 

Therefore as this account is now unenforceable I will be cancelling my future direct debits to your company with immediate effect and request a refund of all payments made to your company before this date.

 

As this account is now in dispute you may not demand any payment on the account, nor am I obliged to offer any payment. You may not add further interest or charges to the above account nor are you to pass this account to a third party.

Lastly you may not register any information in respect of this account with a credit reference agency nor are you allowed to issue a default with regards to this account.

 

If my request is not complied with within 28 days I will have no further option to file this matter in the courts.

 

I expect a swift response to this matter

 

Yours Faithfully