Welcome Finance - This company needs to be banned.

[andie_303]

This week I sent a letter to Welcome saying their agreement is unenforceable (thanks to PeterBard) and I would not be paying anymore, no reply from them yet!! Can I still claim back PPI that was missold? Or does the fact the agreement is unenforceable work both ways? I feel quite bitter that I paid over £6k on something I could never claim on.

 

Any PPI you have paid prior to this you can claim back

[andie_303]

Any PPI you have paid prior to this you can claim back

 

Speak with DG - they are suddenly becoming quite accomodating

[bandape]

Yeah, I got a letter from DG this morning with the T+Cs and Policy payments. They said they were sending it following my contact with them. I have never contacted DG!

[Mrs.Wifey]

Hi if the figures do not quite add up on the credit agreement, does that invalidate it? Basically, for some strange reason, they didn't add the £150 acceptance fee, even though it was supposed to have been added (obviously) so the figure is actually £150 off. Just curious thanks

[postggj]

if the ammount stated is off by 1% above or 0.1 below, it invalidates the agreement

 

thats the total ammount payable

[eeeezzzyy]

Amazing how "helpfull" Welcome and their partners in crime are becoming all of a sudden.....Im just hoping i get a succesfull outcome on my SAR before the shutters come down on the Cattles...erm empire lol

[Mrs.Wifey]

ok. Just to double check.

 

Cash Price of Goods £4943.00 A

Deposit £305

________________________

Total Deducted £305 B

Amount of Credit (A-B) £4638 C

Acceptance Fee £150 D

Finance Charge £3830.40 E

Total Charges (D+E) £3980.40 F

Total Amount Payable (B+C+F) £8923.40 G

 

APR 40.6% over 48 months.

 

We've used several loan calculators and there is always a discrepancy. Example, the one I'm using now says :

 

Number of monthly repayments: 48 correctMonthly loan repayment (£): £179.53 correct(ish)

Total repayment (£): £8,617.28 incorrect!Total interest charged: £3,979.28 correct(ish)

 

The total repayment, which according to the credit agreement is £8923.40. Which is supposed to be B+C+F. If you take the total repayments of £8617.28 on the loan calculator and add the deposit of £305 + acceptance fee of £150, the total repayment should be £9072.28. That's a difference of £149.18. (near enough £150)

 

Am I making any sense? Can someone confirm if that is right or if I am totally screwing this up. And it IS enough to make the credit agreement invalid right?

 

Thanks!

[traz39]

its very quiet tonight everyone at pub

[bobbydog]

evening all

can anyone tell me how to print a cca template without printing the whole thread out

i know this is no relevence but tonight is slow

[brassed-off-2]

i'm not, think it was xmas the last time i frequented one of those places !! Sad i know i need to get a life, and some money would help !!

 

Hows your cattle battle going Traz? Well i hope?

all the best

B-O-2

[traz39]

8 weeks up next week

[brassed-off-2]

i COPIED AND PASTED INTO MY DOCS, THEN AMMENDED IT TO SUIT MY PURPOSE

 

b-o-2

[tigga_1961]

evening all

can anyone tell me how to print a cca template without printing the whole thread out

i know this is no relevence but tonight is slow

best way to do it is copy and save the bit you want and paste into a word doc:p

[brassed-off-2]

8 weeks up next week

 

40 days on monday !!!

[traz39]

good luck hope goes well

[bobbydog]

brill thanx for that you two

just shows that this place is helpful

[brassed-off-2]

good luck hope goes well

 

Thanks Traz, same to you..and thanks for posting your agreement, it was that, that alerted me to the shenanigins that had taken place on mine...

[traz39]

knew i was good 4 something

[brassed-off-2]

brill thanx for that you two

just shows that this place is helpful

 

No probs Bobbydog, glad to be able to assist, even if it is only in the tiniest way at the moment..

[brassed-off-2]

Yeah, I got a letter from DG this morning with the T+Cs and Policy payments. They said they were sending it following my contact with them. I have never contacted DG!

 

Had you contacted NU ? bandape. Or has this just happened out of the blue?

[Picador]

Can't help with the cca template, maybe copy and paste? simple but effective, no idea how to try and find template on here! If your at a loose end have a read of Welcomes 2007 annual report thingy for their stockholders, so lovely and positive, especially the bit about (and I paraphrase) creating trust and respect and awareness of the customer to enable them to provide the best service. Clear statements that auditors found nothing wrong in their financial accounts...hhmmmm and my favourite is that customers with secured loans are assessed not by equity on property but affordability...blah blah...to give them more incentive to pay...and the bit on staff training is good.

 

Yes I have bugger all else to do on a saturday night, sad but true. I'm gearing up for a fight as I have and offer on my flat and little equity to pay their extortionate settlement figure.

 

'ere is the link for a bit of light reading

 

TMF: Re: More bad news I'm afraid / Cattles PLC (CTT)

 

Oh and I thought this comment was interesting...

 

''As I understand it, the directors have been altering the timespan of the loans - ie rewriting a 1 year loan as being over 2 years. This has the effect of making the bad debts look not as bad and some of the defaulters appear as not in default and their loans therefore appear less toxic."

 

but obviously thats all heresay, ain't it?

[Picador]

I obviously type too blinking slow! well done caggers, on the ball

[andie_303]

not surprised - I took out a 1 year loan and when I finally got a copy of my CCA it had turned into a 3 year loan - as if by magic!!

[andie_303]

Bandape - I think anyone who has insuraces it getting stuff from DG - they're trying to clean up their bad housekeeping before it becomes too much of a problem.

[brassed-off-2]

Bandape - I think anyone who has insuraces it getting stuff from DG - they're trying to clean up their bad housekeeping before it becomes too much of a problem.

 

Andi - Is this housekeeping likely to include ppi sold on an original loan, that became re-loaned several times - over time, or just housekeeping of existing ppi policies ? Underdtand if you cant say too much on the matter though..