Unenforceable Loan Agreement Welcome/MKRR problem

[Guest]

Re: Hello from Christian - Welcome/MKRR problem

LOL
So, what do you want in your situation? Do you know?
Because I'm in the habit of asking inside, and what I keep hearing is a compensation figure that I don't know if I can achieve.
Oh well, I think I'm going to ask LawWorks tommorrow for some help.

[dogtired]

Re: Hello from Christian - Welcome/MKRR problem

Not sure! Given that Welcome themselves are in effect bankrupt I doubt we would get any actual money!:tinysmile_hmm_t2:

[Guest]

Re: Hello from Christian - Welcome/MKRR problem

Here Welcome declared in default by FSCS 2/3/11, meaning they couldn't pay out all the claims against them.
How they then set aside £60m for claims I don't know.
£20m for contracts made before 14/01/05, £40m for after.
Pre-14/01/05 claims go to Welcome. After that date, the FSCS handles them.
However, these schemes are just for PPI. some may say there are more claims than just mis-selling of that item.
In my case, it was 5 insurances, the car, and a personal loan. Not much left there, then.

[dogtired]

Re: Hello from Christian - Welcome/MKRR problem

Yes they were corrupt and incompetent.
When we moved it took them almost a year to transfer our account after a SDAR they returned only documents for our old address and another loan number and alleged we had another loan but have NEVER come up with any proof of this.
Incasso got involved two years ago when we rejected the "offer" from them regarding the PPI up to then the FOS had dealt with it but said they could not comment on things before 2005.
Went to out local CAB who have said that BOTH are irretrievably unenforceable it was them that suggested I do another CCA request which is when they put te fee onto the "balance" of the alleged loan.
Last letter from Incasso stated they were "making further checks and enquires" but that was in March!
During this I was changing a small savings account from Halifax and went to or local Norwich and Peterborough who had, as the "manager" the ex "manager" from Welcome!
They were also in trouble, at the time. for misselling of an insurance product and merged with Yorkshire Building society last year.
:tinysmile_hmm_t2: DT

[Guest]

Re: Hello from Christian - Welcome/MKRR problem

To dogtired
Sounds like you could do with mediation, also.
Mediation cuts to what you want - for example:-

- written acknowledgment that contracts were/are void ab initio/void/voidable/unenforcable (specific performance)
- compensation (damages in law)
- removal of whatever from your credit file (specific performance)
- written agreement to discontinue processing data on you (specific performance)
- written agreement to desist from picking up any of these matters again (estoppel in law)

Well there we are, there's a good list for tommorrow, when I ring LawWorks, who do free mediation.
In mediation, there are no documents as I understand the process.
You just say what you want, and they agree or don't.
However, this is ironed out in several stages.
Remember, Welcome may have good reason to want to keep it out of court.
And, if you reach settlement, you sign a legally-binding document.
You can always take it to court later, if mediation doesn't work, and then you start from scratch, i.e., can't mess up.

On the other hand, see what hits you if you bury your head in the sand here
I'd say Welcome are collecting on debts to stay bankruptcy.
These debts have been left so long because in 2007 they presented their 'huge' loan book (no arrears of course) to the market, and raised £200m on the basis of it. They seem to have lost the £200m so they're attacking again.

I will be reporting back. Let me know likewise.

[Guest]

Re: Hello from Christian - Welcome/MKRR problem

9 days to sort through Welcome paperwork
I was up at 5.30am (not deliberately!), clearing and cleaning off workbench for eBay buyer.
They called at the last min to cancel.
Inner guidance told me I have 9 days to use workbench for Welcome paperwork (it's 1cm thick).
Sort into date order, see what's missing, what the torts are, exactly.
Produce summary.
Workbench buyer will then call to take it away.
While I'm at it, I might as well do my housing issue.

[dogtired]

Re: Hello from Christian - Welcome/MKRR problem

CAB said wait to see if they contact!

[Guest]

Re: Hello from Christian - Welcome/MKRR problem

Why is that? It leaves you open to court proceedings, and credit file's in a mess.
I don't want people to think I'm a robber!!

[dogtired]

Re: Hello from Christian - Welcome/MKRR problem

the chap seemed conident I would not hear from them and told me that if I did to get back in touch.
However no two cases are the same are they?
Credit files a bit sticky and also have another complaint about HBOS on going with the same advice.:tinysmile_hmm_t2:

[Guest]

Re: Hello from Christian - Welcome/MKRR problem

Sticking their heads in the sand!!! - where did that ever get anybody???
Actually, a lot of debtors like this place, it saves them having to lead their lives. He He!

[dogtired]

Re: Hello from Christian - Welcome/MKRR problem

I am not sticking my head in the sand!
It is Welcome that are not playing ball if they came up with legible and legal documentation in the first place it would help but they have not and it is now three years since I paid them anything, which is why, I think, they paid the pound into the account!
But I ensured that I have kept all copies of correspondence and I am willing to trust the legal adviser at the CAB if however, it gets more serious I will certainly go else where, not losing any sleep over it thats for sure!
As I said before each case is individual and Welcome do seem to treat each one as such, I may also have a case against Black Horse who we went to originally at our old address, we have written proof that the loan was paid off when we moved but somehow they manufactured amounts to which they added charges, I know something illegal went on but cannot prove it.

[Guest]

Re: Hello from Christian - Welcome/MKRR problem

Letter to Chancellor George Osborne, MP for Tatton
Dear Mr Osborne,

Thankyou for re-examining the tripartite regulatory system of Britain's financial services industry, including banking, following the problems with RBS and Barclays.

Can you please consider imposing criminal sanctions for the directors of other financial companies, also?

In particular I refer to Welcome Financial Services, who performed market abuse through false loan book accounting in 2007, raising £200m in rights issue and subsequently being declared in default in March 2011?

3 directors were responsible.

I am a customer of Welcome from 2004, from which time mis-selling, breaches of fiduciary duty, overcharging, and bullying via credit file manipulation have been the methods and associated deployments of Welcome. They still hold a consumer credit license for credit issue,debt collection AND running credit reference agency/ies. In my case, the loans (which I am taking to mediation, having had no redress through complaints) have been re-registered on credit file recently, almost 6 years after initial registration there. They are still hauling consumers into court with no pre-warning, having ignored their loans-in-arrears for years (6 years in one current case). The loan book manipulation that enabled them to raise £200m on false accounts in 2007 was basically to hide these loan arrears from investors.

One last point. My fellow consumers and I have had difficulty finding redress in these issues partly because OFT Consumer Credit Register is not searchable by trading name. In particular, I could not find the debt collector on my Welcome account, because it (M K Rapid Recoveries) is hidden under the registered name, Compello Operations Limited. This enabled them to register said loans on my credit file for years with apparently no Consumer Credit License (pre 23/11/09). Welcome themselves have 35 trading names, none of which can be searched on the so-called public search register.

These matters are important when consumer forums, such as Legal Beagles, are helping consumers every day of their lives, and need instant access to needed information. Some of those being helped are in dire circumstances financially due to regulated criminality and it is not acceptable that they cannot access trading names instantly through the Consumer Credit Register.

Thankyou in anticipation.

Yours sincerely,
xxxxxxxxxxxxxxx

CC My Local MP

[Guest]

Re: Hello from Christian - Welcome/MKRR problem

I am not sticking my head in the sand!

Cute
However, I appreciate you may be dog tired of all of this.

It is Welcome that are not playing ball if they came up with legible and legal documentation in the first place it would help but they have not and it is now three years since I paid them anything, which is why, I think, they paid the pound into the account!

DCAs on my Welcome account re-registered the 2006 default with CRAs in 2012. Go figure.
Welcome customers are being hauled into court 6 years after last payment.
Then it's war, because you're not ready, and you probably don't know court procedural rules.
Nor do you have any evidence ready with which to defend yourself.
I believe Welcome may be able to see what you've got coming into your bank account.

But I ensured that I have kept all copies of correspondence and I am willing to trust the legal adviser at the CAB

No probs with trusting advisor, but are they fully informed?

if however, it gets more serious I will certainly go else where, not losing any sleep over it thats for sure!

Any credit application could be affected, at any time.
If that's no problem, there's also the possibility of sudden, unannounced court summons.

As I said before each case is individual and Welcome do seem to treat each one as such

If they can see bank account, that would explain the individual reasoning.
May have more on this later.
Also, have you considered they're not chasing you because of disclosures on account handling it would cause?

I may also have a case against Black Horse who we went to originally at our old address, we have written proof that the loan was paid off when we moved but somehow they manufactured amounts

Oh really?

to which they added charges

Consumer Credit Act 1974 and 2006
Consumer Protection from Unfair Trading Regulations 2008

I know something illegal went on but cannot prove it.

I don't think so.
That's the same emoticon I used here when I joined forum on 21st May 2012 (5 weeks ago).
Now my case with Welcome is half-way finished, because I'm aware of most of the torts that were committed.

[Guest]

Re: Hello from Christian - Welcome/MKRR problem

Call to LawWorks
Recorded, 26 minutes.
Advised they are a very small charity with limited resources.
May not be able to assist in mediation in Welcome, MKDP LLP and housing issues.
Are sending me forms nevertheless.

I need to ask them if Welcome and MKDP LLP can be dealt with together.
The housing issue is a bit smaller, might speak to council re HB situation.

[Guest]

Re: Hello from Christian - Welcome/MKRR problem

Call to council re HB/housing issues
15 minutes, not recorded.
Housing benefit officer, KD, agreed to keep paying HB in order to try to prevent eviction.
I agreed to go to mediation, however, since dispute with landlord/letting agent is still not resolved.
KD surprised that letting agent have not responded to complaints over 2 years.
I noticed that mediation would give me the opportunity to lay basis for future relationship with landlord and letting agent, as well as claim compensation. Repairs, administration, loss of use of facilities and improvements.
Since mediation results in legally-binding document, opponents could face court if in breach.