Welcome Finance - This company needs to be banned.

[ROMULUS04]

i was contacted by yes loans 2 weeks ago they didnt tell me they were a broker service and i paid them £69.50 for a loan that i wanted which was for £1000 the guy on the phone went on to tell me how much i would be paying back over the term agreed so i thought i had the loan as i said he didnt mention that they were a broker i probablt won't see that money back and it was the last of my money as well until i get paid again at the end of the month they are shocking

 

 

Hey Jab

 

Yes are an absolute con! A friend of mine had the same problem he eventually got his money back. He got info from a forum it wasn't CAG I know that but they pointed him in the right direction!

 

I'm sure the supremo's of this forum will point you in the right direction.

 

Good luck

[Us versus Debt]

Srill wondering what to do.

Welcome say that for me to lower my monthly payments I must sign a new agreement which I don't have a problem with.

 

but

the amount they say I owe to date is not what I make it.

They said there are no charges.

 

All I have from Welcoome is a two page agreement on 2 separate pieces of paper, no dates anywhere on the documents which I don't understand why we didn't date it.

 

Apart from a letter from Ucan . that is all we have. We are still tyring to get the logbook 3 yrs later.

 

Think I am doing to have to send a SAR

[postggj]

thats an understatment

 

i have the original from my court case

 

pure ficition

 

again

 

norwich union have no details on me period except a motor quote from 20 years ago

 

we all know why

 

dont we

[andie_303]

OK postggi.

 

Can you tell me have they ever stated there isn't any PPI relating to either you or just as importantly Welcome??

 

JonCris - I have in writing from NU they have no PPI policies for me in fact they have none at all for me currently running in the same email the killer sentance of 'we have no dealings with Welcome Finance with respect to yourself'

[postggj]

andie

i have that to but from 2 years ago

[andie_303]

thats an understatment

 

i have the original from my court case

 

pure ficition

 

again

 

norwich union have no details on me period except a motor quote from 20 years ago

 

we all know why

 

dont we

 

Did you SAR them to get that or did you 'persuade' them??

[andie_303]

andie

i have that to but from 2 years ago

 

mines from 2 months ago and my 'policies' are still supposed to be running??

[postggj]

me thinks john chris has something up his sleeve

[andie_303]

me thinks john chris has something up his sleeve

 

 

I have soimething up my sleeve as well - showed a ex fraud officer some of my stuff today and went over my thinkings with him and he tells me something i have can null and void my whole agreement so if the acceptance fee dosn't work I have the trump card in my back pocket

[postggj]

andie

 

keep that on the qt for the moment

 

my hands are tied

 

sub jud

[andie_303]

andie

 

keep that on the qt for the moment

 

my hands are tied

 

sub jud

 

I am - I found it so I get first shot at using it

I'm gonna try getting back on to DG i have modified them a special SAR to get the EXACT details of what I need - however enough prodding to Mr Hough there and he may be forthcoming without the wait

[postggj]

after you have nailed these cretins

post the details

 

hope its dynamite

[ROMULUS04]

Wahey Andie/Post slow down you two are kicking butt tonight! Good luck hope those aces pay off

[Prudence]

Post if you get a moment(!) tomorrow, could you please have a look at my thread, got to produce a list of documents by end of the month ten days!) but STILL no reply CPR request, so how can I? Thanks, Prudence

[postggj]

no worries pru

[Millymo]

Hi again everyone - I have spent a couple of days looking over the figures on my secured loan and was just wondering if I could get some advice.

 

I have been trying to work out if welcome have added interest to my acceptance fee and from the statement of price it is obvious that they have (fee = £235 payments are 5.65 x 121 = £683.65????)

 

However I know from reading previous posts that it is difficult to work the figures out on the agreement. Anyway I have entered figures into loan calculator and if I add the insurance and acceptance fee to the total amount of credit and then calculate the loan repayment it comes out within a penny of my re-payment figures. I know if they have added the acceptance fee and then calculated interest this can make the loan unenforceable - or at least that is what I have gathered from other posts.

 

Therefore can someone please double check my figures if they have a spare moment - my scanner is not set up so I will just have to type them out. They are as follows:

 

Total amount of credit (A = B+C) = £13740

Amount of credit for cash advance (B) = £13000

Amount of credit for Insurance © = £740

 

Duration of agreement = 121 months

 

Total charge for Credit (L =M + N +O) = £26924.47

Acceptance fee (M) = £235.00

Interest charge (O) = £26689.47

 

Rate of interest per annum = 30.45%

 

APR = 31.18%

 

Amount of each monthly payment = £336.07

 

As I said if I add total amount of credit + acceptance fee (13740 + 235 = 13975 and enter this into calculator with interest of 30.45% I get within a penny of my monthly repayment. However it is late and I may be wrong so any help or advice would be greatly appreciated.

 

P.S. Sorry for the long winded post - really need to set my scanner back up

[brassed-off-2]

You need that police intervention as you're agreement etc is forged and they should not be allowed to get away with that especially when they secure a forgery on your house!

 

I perhaps would let your motgage company know the deal then you can tell the police you have done that so they can't try redirecting you again.

 

Thanks Andi / Dipply / Voda

I have managed to recompose myself now.. just about anyway....and am ready for the next step in this...we have decided to stop payment, putting account in dispute, copies to fsa/fos stating that we believe the information that we have recieved on the SAR is incorrect and untrue...

I will be consulting a solicitor within the next few days...not sure if we need to be looking for one that specialises in contract law or property law, though at the moment ? Any suggestions anyone...?

I have found the contact details of the one and only Graphologist within the area, so will be trying to make contact with them also...

Will also be making further enquiries with the Land registry, in relation to obtaining further info, regarding the paperwork for all charges on there...would i be correct in doing this?? or am i not understanding it correctly?

I will also be filing a complaint in relation to the "Pit Bull" that fends of the innocent victims at the police station !!!!

 

Will be bobbing in and out today, have lots to do, apparently my 3 year old tells me we are going to the Guinea pig shop today, i need one for mothers day ! She'll go far in life !!!

 

b-o-2

[Peterbard]

Thanks for the quick reply Peter.

 

I have been reading the posts over the past week, everyone refers to problems with figures... I do not have a scanner bu the figures on the form are:

 

Total Credit (A) 28827.99

Amount of credit (B) 28827.99

 

300 months

 

No PPI or insurances

 

Monthly payments 306.10

APR 12.8%

 

Total charge for credit (M+N+O) 63001.54

Acceptance Fee (M) 235.00

Mort' Indemnity Fee (N) 0.00

Interest Charged (O) 62766.54

 

Rate of interest per annum 12.7%

 

Settle 1st Quart, 27425.56

Settle Halfway, 23830.96

After 3 quarts, 16199.96

 

I hope this is the right info..... If its right its right but if it is wrong in some way when it is unenforceable, what does this mean. I presume I still owe the monies but a renegotiation be forced on them ??

 

I presume it will take time to look at these figures.

 

Thanks, Dan

 

 

HI

YOur interest works aout at 12.81%APR

 

The charges seem to be in the correct palaces

this agreement is over 25K so will not be coverred by the CCA 1974

 

Peter

[DanDesperate]

Hi Peter thanks for the reply

 

We did have a loan for 15000 plus PPI 2329 (over 15 yrs)from them but when we redid the loan it went over the 25k. Could we not argue over the first being wrong even though we merged the first into the second ? Checking the figures they charged us interest on the PPI and this meant the PPI alone was costing us £33 a month. We realised this and on the second we were convinced by them that if we took out a longer loan (25yrs) without the PPI we will have extra cash to hand and the payments will be slightly less. At the time we just wanted the payments down not looking at the length of the loan and extra money seemed a bonus.... we realise we should have grit our teeth and said no but it was a very difficult decision at the time.

[Peterbard]

Hi again everyone - I have spent a couple of days looking over the figures on my secured loan and was just wondering if I could get some advice.

 

I have been trying to work out if welcome have added interest to my acceptance fee and from the statement of price it is obvious that they have (fee = £235 payments are 5.65 x 121 = £683.65????)

 

However I know from reading previous posts that it is difficult to work the figures out on the agreement. Anyway I have entered figures into loan calculator and if I add the insurance and acceptance fee to the total amount of credit and then calculate the loan repayment it comes out within a penny of my re-payment figures. I know if they have added the acceptance fee and then calculated interest this can make the loan unenforceable - or at least that is what I have gathered from other posts.

 

Therefore can someone please double check my figures if they have a spare moment - my scanner is not set up so I will just have to type them out. They are as follows:

 

Total amount of credit (A = B+C) = £13740

Amount of credit for cash advance (B) = £13000

Amount of credit for Insurance © = £740

 

Duration of agreement = 121 months

 

Total charge for Credit (L =M + N +O) = £26924.47

Acceptance fee (M) = £235.00

Interest charge (O) = £26689.47

 

Rate of interest per annum = 30.45%

 

APR = 31.18%

 

Amount of each monthly payment = £336.07

 

As I said if I add total amount of credit + acceptance fee (13740 + 235 = 13975 and enter this into calculator with interest of 30.45% I get within a penny of my monthly repayment. However it is late and I may be wrong so any help or advice would be greatly appreciated.

 

P.S. Sorry for the long winded post - really need to set my scanner back up

 

Hi

The APR works out correctly at 31.18% for a total creditlt of 13740.

 

The interest rate should be based on the total credti and the amount of interest only so yu may have a point.Unfortunately the interest rate is not a prescribed term on this kind of agreement although it is required to be on and corrct on post may 2005 ones and contain an explainatin of how it is derived.

 

Petr

[DanDesperate]

HI

YOur interest works aout at 12.81%APR

 

The charges seem to be in the correct places

this agreement is over 25K so will not be covered by the CCA 1974

 

Peter

 

 

Peter if this is the case is the actual form itself wrong, the title of which is:

 

"Fixed-Sum Loan Agreement regulated by the Consumer Credit Act 1974"

[bandape]

Hi Peter, if you are still about and have time, could you have a look over my agreement, thanks. I have signed it on a 2nd page

 

 

http://i627.photobucket.com/albums/tt356/bandape/1STPAGEOFLOAN.jpg

[Millymo]

Hi

The APR works out correctly at 31.18% for a total creditlt of 13740.

 

The interest rate should be based on the total credti and the amount of interest only so yu may have a point.Unfortunately the interest rate is not a prescribed term on this kind of agreement although it is required to be on and corrct on post may 2005 ones and contain an explainatin of how it is derived.

 

Petr

 

Hi Peter - Thanks for getting back to me so quickly regarding this. Sorry if I appear a bit dumb but what would this mean for my agreement? My agreement was june 2008 so I take it I just have to accept these figures?

 

seems a bit unfair to me as it is quite clearly not advised that the total credit is being calculated with the acceptance fee added in:mad:

 

Anyway just another example of how welcome can confuse and con you - I have certainly learned my lesson. if I ever take out credit again (and it will not be with welcome) I will certainly be looking over figures more carefully.

 

Thanks again Peter for your time it is apreciated

[Millymo]

Hi Post - yesterday I received a letter from Sally Evans at Direct group in response to my letter requesting information on our policies. The letter says they have located policies for both myself and my husband but could we contact them to discuss further. I just wanted to know what I should be asking them with regards to these policies before I call them.

[postggj]

morning millmo

 

what did you ask them for in your letter

 

why are they asking you to phone them

 

interesting