Welcome Finance - This company needs to be banned.

[brassed-off-2]

hi. apologies for going off the point of your thread but need some advice please. if you put a secured wf loan into dispute over ppi then do you have to keep up the monthly payments while it is in dispute?

 

regards, lawrence

 

 

According to the bright spark at the Welscum LMB, that i spoke to yesterday .. yes!!:lol:

Like i replied..take me to court as you threatened in your recent default notice:lol::lol: she replied yes but we didnt send it from this branch..thats nothing to do with us...:lol:, so why are you wanting my money..you didnt send that letter either...nottingham did:lol::lol:

 

b-o-2

[welcome finance warrior]

they will tell you yes or ignore you and desimate your credit file in their silence

 

Dont mean to be rude in light of your anger andi_303 but can you be more specific. Even though they do decimate your credit file are they really allowed, and if there not how can you apply to get them removed.

 

cheers

[jamiethemac]

what is the end result everyone is expecting? It looks like all the PPI will be repaid, and rightly so, but what else? if welcome does go belly-up, what happens next?

[andie_303]

Dont mean to be rude in light of your anger andi_303 but can you be more specific. Even though they do decimate your credit file are they really allowed, and if there not how can you apply to get them removed.

 

cheers

 

morally no they aren't allowed but when has Welcome ever cared about morals? and as the CRA's are being paid handsomely by muppets like welcome they are not going to stop them doing it!

 

The only way to get it off is to take them to court for malicious damage of your credit file - conincidently just what I am doing now!!

[lolly1977]

Andie,

 

with regards to what you mentioned about malicious damage to your credit file how does that work, I currently have a letter from welcome agreeing a decrease in my payments, however for every month I have paid a lower amount they have defaulted my credit file, in total 6 times.

 

Would that class, also just to clarify the decrease is only £69 a month less than he agreed amount. I tried to post a link to my thread earlier but wasn't able so PostGGJ has done it for me if you wouldn't mind checking it out.

 

Lolly

[EBOY]

Lolly1977,

I would start a complaint with welcome and if you don't get anywhere then go to the ombudsman. If they agreed to reduce payments then they should not default your credit rating as long as you pay what they agreed to.

 

Did they tell you reducing payments could affect your credit rating?

 

What fustrates me is that welcome will continue to manipulate the figures to look in a strong position than they are. What about a letter to Delloitte's or Freshfields asking them to explain why welcome continually change the amount of months to 37 from 36?

[andie_303]

They have changed mine from 36 to 37 5 times now each time I lodge a complaint with experien and it gets altered but only until they update again - they are quite frankly an effing joke. Roll on 12th August as Mr P you are dead in the water!

[welcome finance warrior]

morally no they aren't allowed but when has Welcome ever cared about morals? and as the CRA's are being paid handsomely by muppets like welcome they are not going to stop them doing it!

 

The only way to get it off is to take them to court for malicious damage of your credit file - conincidently just what I am doing now!!

 

So it is only a moral argument then and not one of law.

 

I thought that once you put the account into dispute, under the CCA it freezes and no defaults are allowed to apply...

 

If they are applied would this count as malicious damage to credit rating...

 

Have i got the jist, or legally are they allowed to default our files.

[postggj]

morning all

 

have a nose at this email

 

Good Morning

 

Thank you for your email.

 

At this stage we are not able to say when the shares will be re listed. Before this could happen we would need to have reached agreement with our banks, notes and bondholders on a financial restructuring. We would then need to get our 2008 accounts audited and signed off. We are not in a position to say how long this will take.

 

Cattles plc

 

 

ITS NOT SO MUCH WHAT WAS SAID BUT WHAT WAS NOT

 

THEY ARE IN A BAD TIME IT SEEMS

[postggj]

Error

[postggj]

HAVE A NOSE AT MY LAST POST

 

Cattles Share Chart. CTT Historical Graphs. Technical analysis for Cattles Plc Ord 10P.

 

GO TO SHARE CHAT

[Beck1968]

"consumers for what ever reason find them selves in the credit doldrums.

 

they miss a few payments from the banks and the banks record default history, this forces people into the hands of companies like cattles. now who are the main share holders in cattles, the banks.

 

so the banks are profiting again on obscene interest rates.

 

it not unsual for welcome to charge 60-70% apr

 

SO WHO ARE THE LOAN SHARKS NOW"

 

 

Postggj.....what a lovely tone of voice you have today :lol:

[zaidey]

nice 1 postgg give it to them.....how dare they start telling us about moral issues...when its cattles that have been lying to us and the banks for years.

 

its cattles that have tricked its consumers and taken millions of pounds on false promises...

 

and now they are staying afloat threw funds by the tax payer threw banking bailout....

 

i dont know if anyone knows this but a report came out from a financial paper in america it stated that the financial monies given to bail out the banks £500biliion would have been able to clear the countrys debt to uk institutions..

 

basically all of us would be debt free now all credit cards,bank loans and mortages (uk aggrements only ,not offshore agreements) would have been cleared...instead they have given it to the banks who are still in dire straights..

 

make me prime minister please:eek:

[EBOY]

FT.com / UK - Funding extension for Cattles

 

Postggj, Don't know if you saw this yet but it just says what we all know. The money coming is going straight to the banks. Although cattles wouldn't acknowledge it.

[Beck1968]

"they miss a few payments from the banks and the banks record default history.

this forces people into the hands of companies like cattles.

now who are the main share holders in cattles, the banks." (postggj)

 

So will we ever see Cattles fold....it's not in the Banks interest

 

but i have just been reading another thread http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/206470-fraud-act-2006-a-4.html and i think it may apply here,

 

 

any thoughts???

[tigga_1961]

hi all been offline for a couple of weeks with internet probs but back and playing catch up did we get any news regarding the interest on arrangement fees? personally i have applied to the court for a set aside as i had and attachment of earnings order slapped on me, and never recieved any default notice or any original court docs fingers crossed but the court is busy at the mo and could take a couple of months to sort:mad:

[GhostDebt]

Ill Have A Good Look Tomorrow Ghostdebt

 

Hello Postggj,

 

Still not got the figures in the alleged agreement in post #6771 worked out.

 

Did you manage to have a look at it?

 

Many thanks

[jamesf104]

Hi Tigga, I'm new on this but have been going through CCA1974 for my daughter re welcome loan. You should look at section 9(4) which says that an item entering into the total cost of credit (part are the fees, the other is the total interest) shall not be treated as credit. Therefore no interest can be charged on fees. Welcom have done this with my daughter since 2002 and charged another £20/month interest on fees. They dont reply on this at all. What I would like to know is can we suspend payments while it is sorted bearing in mind that the agreement is nonsense anyway and does not conform.

[EBOY]

Jamesf104,

Great post. That confirms my agreement is rubbish and at a guess I would consider that aprrox 100% of welcome's agreements are rubbish.

[welcome finance warrior]

Hi post ggi

 

just wondering if thee's any news re-my unwelscum finance agreement...

 

i undertand you must be busy so no sweat...

 

cheers

[tigga_1961]

Hi Tigga, I'm new on this but have been going through CCA1974 for my daughter re welcome loan. You should look at section 9(4) which says that an item entering into the total cost of credit (part are the fees, the other is the total interest) shall not be treated as credit. Therefore no interest can be charged on fees. Welcom have done this with my daughter since 2002 and charged another £20/month interest on fees. They dont reply on this at all. What I would like to know is can we suspend payments while it is sorted bearing in mind that the agreement is nonsense anyway and does not conform.

 

hi james thanks for the reply, we were waiting news from fsa and fos regarding this until such time i wouldnt stop paying them unless you have cca's them even if you have original copy this will cost you £1 and they have 12+2 days to reply if they dont you can then put account in dispute and withhold payments.. good luck as you can see with welcome you need it,

[violethill]

foresure i too today17-7-09 got a letter og fos stating i had been upheld for ppi from welcome and the letter is exactly the same,they will av to restructure my ongoing loan should i just keep paying my loan payments or stop until it is sorted may take 8 weeks :grin:

[Voda]

Morning everyone,

 

If the Tories return to Government, they would get rid of the FSA and make the Bank of England more responsible.

[tigga_1961]

hi violet im no expert in this, dont let them restructure your loan if the ppi is incorrect the whole agreement is loo roll, wait until someone else like postggj comes along to give you advice on this tho, seems to be quiet at the mo in here

[lolly1977]

Lolly1977,

I would start a complaint with welcome and if you don't get anywhere then go to the ombudsman. If they agreed to reduce payments then they should not default your credit rating as long as you pay what they agreed to.

 

Did they tell you reducing payments could affect your credit rating?

 

What fustrates me is that welcome will continue to manipulate the figures to look in a strong position than they are. What about a letter to Delloitte's or Freshfields asking them to explain why welcome continually change the amount of months to 37 from 36?

 

 

Thanks Eboy,

 

No they didn't tell me it would affect my credit rating, the thing is can they harrass me into paying the full amount when they have agreed a reduced amount?

 

Cheers