Welcome Finance - Repo & Court - HELP

[nickprice153]

Re: Welcome Finance - Repo & Court - HELP

That obvious....I tend to keep that quiet...our reputation is dose serve me any justice!

[Amethyst]

Re: Welcome Finance - Repo & Court - HELP

Credit agreement

[nickprice153]

Re: Welcome Finance - Repo & Court - HELP

Credit agreement

Whats your opinion at the moment?

General feedback so far is that Welcome & IND are cowboys and a lot of their cases are thrown out.

[Amethyst]

Re: Welcome Finance - Repo & Court - HELP

So the car was ''sold'' for £1918 in October 09 ?

You know on the first couple pages of statements with payments and payment reversals etc cancelling each other out - were they bounced direct debits ?


Yep utter cowboys. Charges are bonkers and imaginary. But we need to write a decent defence, getting the charges removed and so on.

What date was the car 'removed' from you ?

[Amethyst]

Re: Welcome Finance - Repo & Court - HELP

Account Statements on PDF.

[nickprice153]

Re: Welcome Finance - Repo & Court - HELP

It was reposed and I assume that's the amount they got for the car at the time.

As shown on the letter from welcome, the first payment should have been 28th april but this never happened! So they messed up the direct debit.

if you look at the balance alont the payment reversal, there no change from above - I WAS then making a payment over the phone, hence the balance below "debit" went down?

Hope that clears that up. :s

[Amethyst]

Re: Welcome Finance - Repo & Court - HELP

Okay I make it you made payments of 1998.60 total ??

[nickprice153]

Re: Welcome Finance - Repo & Court - HELP

Okay I make it you made payments of 1998.60 total ??

Its hard to work out, but they seem just to be adding £10 fees on a daily basis for no reason what so ever :\

Where does this leave me? I have no idea what my options are.

I have read that Welcome Finance loans are Non Enforceable Pre April 07? Is this correct? Something to do with the acceptance fee (again, this could just be hearsay)

[Amethyst]

Re: Welcome Finance - Repo & Court - HELP

Just to make you aware of the sums paid etc.

I had paid:

£4,569.91 up until the car was Repo'd - a £1,000 stated in there credit agreement OVER the amount allowed for it to be reposed without a court order.

Then a further £1918.05 was paid off when the car was sold.

Brining the total to £6487.91 PAID - The original loan was £6499.00 - Do I offer to pay £11.09 in order to argue I have paid every penny borrowed in theory, why is the amount claimed over £11,000?

The acceptance fee looks ok on your agreement, its march 2007 and I think they had sorted themselves put by them, the acceptance fee is part of the total charge for credit which is as it should be. Other opinion welcome though as always.

You need to submit a new defence now they have supplied the documents. This will defend all the charges. But I would like sort out these figures tho as yours vary massively from my calcs. Basically I crossed off the payments cancelled out by returns / credits, and added up what was left.

[nickprice153]

Re: Welcome Finance - Repo & Court - HELP

Ok

The way I merley added all the credits up. School Boy error. But the way I am reading it (I may be dense here) but

for example I owe £10 I got to pay £5 off, it rejects and puts the amount up I owe to £15, then when I do pay the £5...it just brings me to £10 again, being no better off? I don't understand the reason for the amount OWED rising every time a payment failed? They seem to fail first then for what ever reason I make a payment (its 7 years ago so cant remember the details) and brings me back to square one.


How do I go about putting a new defence in also? In this defence what do I explain my defence is. Ideally I would like all the charges taken off...Including the crazy amount IND have added at the end :\

ALSO. I dont know if this is worth mentioning, but there Solicitors "Heagerty" (I think) have decided not to go ahead with it, Does this mean someone with a little legal savvy can see faults?

[Amethyst]

Re: Welcome Finance - Repo & Court - HELP

Lol, yes it is worth mentioning. What exactly have Hegarty said?


Will help you with the defence no worries once we've sussed it out. And I'll go back through statements later for you work out what the charges come to and what the interest rate actually was (as you mentioned 30.9 and the agreement has something like %15 on it)

[nickprice153]

Re: Welcome Finance - Repo & Court - HELP

I got a letter saying as Heagerty are no longer acting on behalf of welcome finance, this case has been moved to peterbourgh. Thats all? no reason given

Thanks so much!

Yea i noticed that, 2 different APRs AND still, the account number they have filed is incorrect.

[Amethyst]

Re: Welcome Finance - Repo & Court - HELP

Where did you get the 30.9 from?

[nickprice153]

Re: Welcome Finance - Repo & Court - HELP

On the credit agreement i sent you, at the top it says APR - 30.9 below the payments per month section

and at the bottom it says 15% :|

[Amethyst]

Re: Welcome Finance - Repo & Court - HELP

well I'll be jiggered so it does lol. Ok the 30.9 is the APR. The 15% is the rate of interest on credit. will have to so some maths to check it out. The APR covers all the cost of credit charges etc and is a representative rate for comparison. Something to do with how they compound interest etc and the effect it has, but the basic interest rate is set at 15%. Confused yet? http://en.wikipedia.org/wiki/Annual_Percentage_Rate should be highly interesting.