Welcome Finance - This company needs to be banned.

[bobbydog]

www.reallifeclaims.com

might be of help to someone

give it a look

[Us versus Debt]

Higher cos you wouldn't take out PPI:eek: ..............Got any evidence of that cos that's mis-selling as bad as insisting you HAVE to take PPI to get the loan:x

said as

 

Unfortunately no written proof.

We had already got burnt with yes car credit / direct auto finance (ongoing battle - see here) so we realised that there was no point taking PPI for various reasons.

 

When the UCan lady realised we weren't going to take it she as the loan wasn ot protected then the apr would be much much higher because of the risk.

 

I do remember this because we (joint finance) were quite bemused by how cross she was that we wouldn't take ppi, but I guess we paid for doing that!!!!!!

Edited March 26, 2009 by Us versus Debt

[Us versus Debt]

Ok. Ty

 

November 2001, my husband bought a car from Yes Car, financed by Welcome. Due to job loss, he defaulted and his last payment was March 2003. First communication he had about the debt after he defaulted was a phishing letter last year from Direct Legal & Collections. I sought advice from another forum and learned about how debts become statute barred after 6 years. We were advised to either CCA or ignore as it was obviously a phishing letter, and as my husband was afraid of stirring things up, decided we should ignore it We did, and no more letters were forthcoming.

 

 

Hi Wifey, the debt might be statute barred or almost at the point. It is 6 years from the last actual payment or letter acknowledging the debt.

Silly question but is it definately Welcome as I thought YCC was owned by Direct Auto Finance!

 

Whilst I can't answer your question, others will and it also might be worth going to the car credit complaints site who have a lot of knowledge on YCC and welcome agreements.

 

 

-

Edited March 26, 2009 by Us versus Debt

[sammyc1974_Derby]

Something you all might find useful.

 

http://www.oft.gov.uk/shared_oft/consumer_leaflets/credit/oft144.pdf

Edited March 26, 2009 by sammyc1974_Derby
wrong link pasted

[bobbydog]

http://www.cattles.co.uk/index.php?major_shareholders_faqs

 

just a thought which can be a 100% wrong. if this company did not have a future why are those in cattles management still holding on to their shares.?

 

Major Shareholders Information Shareholder Name (* - Director) Amount % Holding

 

Barclays 94,641,445 17.99

 

UBS Global Asset Mgmt 35,517,746 6.75

 

Standard Life Investments 24,073,008 4.58

 

Tameside MBC-1 GMPF 17,554,654 3.34

 

FMR Corporation 17,000,000 4.69

 

F&C Asset Management PLC 15,993,301 3.04

 

Legal & General Investment Management 3.91

 

Director Shareholdings Director Name Amount % Holding

 

Ian S Cummine 227,658 0.04

 

James J Corr 183,832 0.03

 

Mark W Collins 149,900 0.03

 

David J Postings 90,000 0.02

 

Frank R Dee 24,500

 

David A Haxby 12,059

 

Margaret A Young 7,250

 

Norman N Broadhurst 6,450

 

major stockholders of cattles stock

[felixfly]

If you look at the amounts and work out how much there now worth, it is probably not worth selling.

[sammyc1974_Derby]

Have a read of this it may help

The Office of Fair Trading: Credit and hire agreements

[082stewie]

http://www.cattles.co.uk/index.php?major_shareholders_faqs

 

just a thought which can be a 100% wrong. if this company did not have a future why are those in cattles management still holding on to their shares.?

 

Major Shareholders Information Shareholder Name (* - Director) Amount % Holding

 

Barclays 94,641,445 17.99

 

UBS Global Asset Mgmt 35,517,746 6.75

 

Standard Life Investments 24,073,008 4.58

 

Tameside MBC-1 GMPF 17,554,654 3.34

 

FMR Corporation 17,000,000 4.69

 

F&C Asset Management PLC 15,993,301 3.04

 

Legal & General Investment Management 3.91

 

Director Shareholdings Director Name Amount % Holding

 

Ian S Cummine 227,658 0.04

 

James J Corr 183,832 0.03

 

Mark W Collins 149,900 0.03

 

David J Postings 90,000 0.02

 

Frank R Dee 24,500

 

David A Haxby 12,059

 

Margaret A Young 7,250

 

Norman N Broadhurst 6,450

 

major stockholders of cattles stock

 

 

Even if you have a look at the highest stake holder Ian S Cummine 227,658 0.04. His shares are worth just over 9grand. He probably makes more than that in a month, and considering last week it was half that value. No point. I dont think he could even sell his shares if he wanted to under his suspension and the rest of the directors on the bench

[Dipply75]

Hmm, im not entirely sure that you are entitled to that info without good reason

 

if you could show for example that there was a commission paid between these companies and one was acting as your agent then you could argue that they are in breach of fiduciary duty and that you are entitled to disclosure of commissions paid in secret

 

however, im not convinced this is the case here

 

word of warning, get it wrong and you are looking at legal costs of at least £2k minimum so you must not go headstrong into this

 

Hi Guys, trying to catch up on the small novel that appears every time I leave!

 

Andie, I believe you have all the evidence of this you should need. They state in the T&C's of their own policy documentation they are acting as agent (see Stewies photobucket), I have this too, except in mine they state they are authorised agents, yet their registration as this is not on the FSA register (current or prev).

 

This, with the other info you have , the IPT calculations etc.....and if bonuses are paid on targets of PPI sales, does that count as commission also?

 

There is also the fact that the FSA require them to disclose who their insurer is, which they refuse to do on any documentation....and are either completely unwilling, or unable, to provide the slightest proof when asked by the policyholder.

[andie_303]

thanks dipply I'll be intrigued to see what if anything dg send today. I'm on this through phone internet today (yes I think that does say something about my addiction levels) so sorry if it looks like I've lost the enter key

[postggj]

Morning All

 

To Begin With

 

No Matter What It Takes

 

I Will Get Direct Group To Release This Info

[andie_303]

Morning All

 

To Begin With

 

No Matter What It Takes

 

I Will Get Direct Group To Release This Info

 

hi post can you do me a favour can you try and find a number for the ipt people. I want to try and see what's going on with my letter

[postggj]

On The Phon Noe To Direct Group

 

Any Questions

[082stewie]

Ask them why its so hard for them to deliver friggen details when NU are sitting in the same building!

[mojo8]

Hi Guys, trying to catch up on the small novel that appears every time I leave!

 

Andie, I believe you have all the evidence of this you should need. They state in the T&C's of their own policy documentation they are acting as agent (see Stewies photobucket), I have this too, except in mine they state they are authorised agents, yet their registration as this is not on the FSA register (current or prev).

 

This, with the other info you have , the IPT calculations etc.....and if bonuses are paid on targets of PPI sales, does that count as commission also?

 

There is also the fact that the FSA require them to disclose who their insurer is, which they refuse to do on any documentation....and are either completely unwilling, or unable, to provide the slightest proof when asked by the policyholder.

 

in work today and looking at our initial disclosure document, which state that customers can ask for list of insurers that we use.

 

That means if someone asks us who underwrite our insurance we are at liberty to tell them, welcome cant be any different.

[Dipply75]

Do they account for commission of any kind for welcoem/NU

[postggj]

But Welcome Just State Norwich Union Who Just Throw It Back To Dg

[Dipply75]

Are DG responsible for the admin of the Insurance Premium Tax on beahlf of Welcome/NU

[postggj]

Ok People

Just Got Off The Phone With Dg

Interesting As It Went.

Started To Ask Some nasty Questions, Then It Was Three Wise Monkeys By Dg.

Usual, Person Out Of The Office Can I Take Contact Details,

 

I Laid It On The Line

 

Unless They Release The Details By 2 Pm Today I Will Be Getting A Disclosure Order Ref Undeclared Commission,

They Had The Cheek Saying We Would Not Know.

If They Addmin The Policies, They Must

 

 

Now I Laid Out The Facts And Kept Very Calm And Polite.

I Left Them The Impression I Was Seriouse So I Will Get A Call Back To Try And Fobb Me Off.

 

Like I Said, Any Questions, Fire Away As I Want To Keep Putting Her On The Spot

 

Dipply

 

The Fsa Reg Number Is 2461657 Or So They Say

[Dipply75]

Andie -

Central Collection Unit (IPT)

HM Revenue & Customs

Alexander House

21 Victoria Avenue

Southend-on-Sea

SS9 1AS

Tel: 01702 366364

Fax: 01702 366562

 

 

Postggj - Charles Coburn recently left DG to work with Cassidy Davis. Useless trivia for you there

[andie_303]

the compliance director isn't there post so I doubt you'll get any answers yet. dipply can you try looking for a phone number for the ipt people. phone internet isn't making finding easy

[082stewie]

Andie -

Central Collection Unit (IPT)

HM Revenue & Customs

Alexander House

21 Victoria Avenue

Southend-on-Sea

SS9 1AS

Tel: 01702 366364

Fax: 01702 366562

 

 

Postggj - Charles Coburn recently left DG to work with Cassidy Davis. Useless trivia for you there

 

Should we give Charlie a call and see what his take is on it?

[Dipply75]

Post, that FSA reg no is too long?

[Dipply75]

aaaa, it is their company reg no

[mojo8]

with our policies. we take the payment from the customer and pass on the purchase cost to the administrator of the insurance, the salesman receives his commission and the customer receives a fully comprehensive policy doc. I have just been told that the undrewriter will receive a fee or commission for underwriting the policy and should hold data on the customer, that has come from my finance director and the finace director of one of our brokers. Also he has stated firmly, that if the customer is not taken through needs and demands and has insurance and the enforcability was questioned in a court of law then the customer would win every time