Secured Loan, Welcome Finance

[Ruby]

Re: Secured Loan, Welcome Finance

Shall we put a bet on who will buy these debts?

I would put my bet on Arrow - reason being that as a DCA they buy secured defaulted loans

[dogtired]

Re: Secured Loan, Welcome Finance

They already got two DCAs involved. @Ruby the Land Registry document they suddenly found has this address on it.
Has Welcome Financial Services trading as Progressive Finance. @Nemasis45 the bit missing from the LR document how significant is that?
Dont want the Barstewards to get away with anything.

[Bazza]

Re: Secured Loan, Welcome Finance

With Welcome saying " they are going and remaining debts will be sold" it does need watching!

nem

That's what also concerns me Nem.

Still not answering my queries or responding to various requests for completed agreement details etc and probably won't now.

Mentioned this to FOS regarding my complaints that are still with them awaiting an Ombudsman to be instructed (only nearly 18 months) but on one of my others (account complaint) the adjudicator says there is nothing they can do as I am not part of the scheme ? I asked what scheme and did not have a clue ?

My loan was taken out in Nov 2003 and was GISC regulated and not only confirmed by Welcome but also FOS ?

So it has taken them nearly 4 years, 7 different adjudicators, to finally respond no can do

Maybe it has something to do with Welcome changing Secured loans to Mortgages ????

[Bazza]

Re: Secured Loan, Welcome Finance

Hello DT does the charge have the " preceding notes page"?

nem

I will check mine as I do not remember any preceding notes for my Legal Charge

The copy they sent me didn't even have any customer number details or signed & dated by Welcome ? Should they have returned a fully completed copy ?

[nemesis45]

Re: Secured Loan, Welcome Finance

That's what also concerns me Nem.

Still not answering my queries or responding to various requests for completed agreement details etc and probably won't now.

Mentioned this to FOS regarding my complaints that are still with them awaiting an Ombudsman to be instructed (only nearly 18 months) but on one of my others (account complaint) the adjudicator says there is nothing they can do as I am not part of the scheme ? I asked what scheme and did not have a clue ?

My loan was taken out in Nov 2003 and was GISC regulated and not only confirmed by Welcome but also FOS ?

So it has taken them nearly 4 years, 7 different adjudicators, to finally respond no can do

Maybe it has something to do with Welcome changing Secured loans to Mortgages ????

My feeling is that a large proportion of Welcome's outstanding assets are the secured and HP debts that have had a touch at some point with the Welcome magic screwdriver and are not viable.

nem

[dogtired]

Re: Secured Loan, Welcome Finance

The one they set to us is not signed by Welcome/Progressive Finance either.
And the one we have a copy of for our "main" mortgage does not mention Welcome or any of the names they use.
Wondered ever since the FCS took over how they continued to harass the may people who were unfortunate enough to be snared in by the many brands that Cattles/Welcome used.
And why they suddenly came up with this "proof" after over six years if they had it they could have taken it to court couldn't they.
In any event CAB have said, and I have in writing that both account numbers are irredeemingly unenforceable under section 127(3) of the Consumer Credit Act 1974. ( this in march 20012.
Will dig it out and post it up ASAP.

I will check mine as I do not remember any preceding notes for my Legal Charge

The copy they sent me didn't even have any customer number details or signed & dated by Welcome ? Should they have returned a fully completed copy ?

[Ruby]

Re: Secured Loan, Welcome Finance

Land Registry document they suddenly found has this address on it. -

Bit of a bummer ......

We live in interesting times and in the meantime all we can do is wait and see what unfolds from this insolvency. In my personal circumstances I hope they respond and accept my cheeky offer. I would rather just get them out of my hair for good. DT your circumstances are different in that you can challenge them with the debt being statute barred/unenforceable via CAB.

Bazza I get the impression that FOS just don't know what to do in your circumstances, but then, nothing's unusual in that !! The FOS are as useful as a chocolate teapot.

[dogtired]

Re: Secured Loan, Welcome Finance

cab.pdf


This is the letter that we got from CAB.
Together, even with different circumstances we have to be stronger.

[Bazza]

Re: Secured Loan, Welcome Finance

[ATTACH=CONFIG]23974[/ATTACH]


This is the letter that we got from CAB.
Together, even with different circumstances we have to be stronger.

Did you mention letter details to Welcome DT ?

[Bazza]

Re: Secured Loan, Welcome Finance

Land Registry document they suddenly found has this address on it. -

Bit of a bummer ......

We live in interesting times and in the meantime all we can do is wait and see what unfolds from this insolvency. In my personal circumstances I hope they respond and accept my cheeky offer. I would rather just get them out of my hair for good. DT your circumstances are different in that you can challenge them with the debt being statute barred/unenforceable via CAB.

Bazza I get the impression that FOS just don't know what to do in your circumstances, but then, nothing's unusual in that !! The FOS are as useful as a chocolate teapot.

Ruby,

I even put details in writing to the Adjudicator regarding my account complaint with Welcome and could they kindly explain further iro Scheme i.e. was it the arrangement with the FSCS, all policies sold after Jan 2005 or something else.

This is what I received :-

"Dear *******

Many thanks for your response.

Further to your response below, I note that I have not received your full response by 26 March 2016. As explained in my assessment, I believe your complaint falls within the scheme and therefore I am unable to take your complaint forward. I can see that your separate PPI complaint is waiting to be allocated to an Ombudsman for decision.

If you wish to respond in full, please provide this by 13 May 2016. Alternatively, I can refer your complaint to an Ombudsman for a decision – but given the scheme in place, I do not believe it is one the Service can assist you with. Therefore, if you remain unhappy with your account balance, it might be more appropriate seeking independent legal advice on the options available to you.

Yours sincerely,

T T

adjudicator
Financial Ombudsman Service " End quote

I had already responded in full explaining circumstances again and how the FSCS scheme of arrangement operates but does not apply to my policy / loan account etc

Am I missing something ? Is there another Scheme ?

[dogtired]

Re: Secured Loan, Welcome Finance

Oh yes!
A copy sent almost every time I wrote to them and the two DCAs!
Yet another being posted today!
Ours was about two or three months out side the " scheme" if you take into account the origanal.
As for the second without any documents not sure that, apparently was February 2004
Took it to FOS about the PPI and Welcome wanted us to "restructure" the loan without PPI and sign documents to that effect .
CAB said to refuse.
Did get some refund via Aviva as they were named on the PPI policy, Norwich Union at the time.
This was only on the origanal loan number as they refused the other as there were no record of it.

Did you mention letter details to Welcome DT ?

[dogtired]

Re: Secured Loan, Welcome Finance

a bump please for the question what should have been in the "proceeding notes" document that should have come with the land registry one they sent.? [MENTION=1937]nemisis[/MENTION]45

[charitynjw]

Re: Secured Loan, Welcome Finance

[MENTION=55034]nemesis45[/MENTION]

[nemesis45]

Re: Secured Loan, Welcome Finance

Hello DT sorry for not responding I seem to have been unsubscribed from the thread.

I can only presume that document has perhaps the tech/legal data.

Perhaps a call to LR may be helpful.

nem

[dogtired]

Re: Secured Loan, Welcome Finance

Just wondered!
Hope you are subscribed again now?
DT