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Welcome Fine Credit Agreement???
Hi everyone, new to this site so hope that i am in the right forum. I was wondering if anybody could clarify a few things for me. I have a Welcome Finance agreement from July 2005 and after reading about so many agreements being unenforced i took a look at mine. There are 3 points that I am not sure would be correct but cannot find anything in reference to these particular things, i DO NOT have PPI however, the box is not ticked or signed on the credit agreement for this.
Set out much like this:
amount of credit for good £7,500
amount of ppi £0.00
total amount of credit £7,500
total cash price £7,500
acceptance fee £ 75
interest charge £10,966.81
total charge for credit £11,041.81
APR(variable) 24.20%
rate of interest 23.90% per annum
120 monthly payments of £154.52
I have noticed that I have an administration charge of £75, but this is added before the total charge for credit and before the interest charge and that when i add up the 7,500 and interest and admin it doesnt come to the final figure they have of £11,041.81.
Also the 'Witness to customer signatures box' is not signed or dated either?
Plus, although the agreement is signed and dated by a Welcome adviser in their box, i have signed the agreement but there hasnt been any date entered from me. The other factor bugging me is that I only have a photocopy of my agreement? Is this normal, i thought I should have the original.
I would really appreciate any help and advice anyone can give me.
Set out much like this:
amount of credit for good £7,500
amount of ppi £0.00
total amount of credit £7,500
total cash price £7,500
acceptance fee £ 75
interest charge £10,966.81
total charge for credit £11,041.81
APR(variable) 24.20%
rate of interest 23.90% per annum
120 monthly payments of £154.52
I have noticed that I have an administration charge of £75, but this is added before the total charge for credit and before the interest charge and that when i add up the 7,500 and interest and admin it doesnt come to the final figure they have of £11,041.81.
Also the 'Witness to customer signatures box' is not signed or dated either?
Plus, although the agreement is signed and dated by a Welcome adviser in their box, i have signed the agreement but there hasnt been any date entered from me. The other factor bugging me is that I only have a photocopy of my agreement? Is this normal, i thought I should have the original.
I would really appreciate any help and advice anyone can give me.
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