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Welcome Finance - Unenforcable?

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  • #16
    Re: Welcome Finance - Unenforcable?

    Originally posted by PKea View Post
    Bankstormer, while you may be adept at using forums and the etiquette not everyone else is.

    This was Ripped Offs first post on this forum and quite possibly any forum.

    It serves no purpose to not only shout (Use of Caps) but type in red also to a newcomer.
    This is hardly in the spirit of the community of the forum, and gives people a bad impression of yourself.

    In future, rather than shouting at people, why not click the report button and ask a moderator to move the post.
    I do appologise,

    I too am reletively new to this kind of thing and was not aware that typing in CAPS was so rude, also i only typed in red so it would stand out.

    No offence was intended.
    ------------------------------- merged -------------------------------
    Originally posted by pt2537 View Post
    Hi there

    Can you please detail the figures please as the agreement is illegible.

    while this fails to comply with Regulation 2 CCCNCD Regulations 1983, it is not enough to kill the agreement

    if you can set out the main points, like,

    Credit £400000

    Total Charge for Credit £ 5000000

    Total Amount Payable £9999999


    Repayments 90 months at £4000000 per month

    then i can run the figures and check them out

    also let me know if there was any PPI etc

    Cash Advance: £2,800
    Homecare 24 (Insurance) £125
    Lifecare 24 (Insurance) £175
    Optional !?! PPI £1030.52

    Total amount of credit: £1430.52

    Acceptance Fee: £235
    Mortgage Indemnity Fee: £308

    Total amount of loan: £4675.52

    Interest is charged @ 36.6% APR

    60 MONTHLY PAYMENTS OF £137.72

    The loan is made on the security of a legal charge on his property.

    he has missed several payments on the loan.
    Last edited by Bankstormer; 29th June 2009, 21:56:PM. Reason: Automerged Doublepost
    I make my apologies now for my spelling ability. Maths was always my subject!

    Comment


    • #17
      Re: Welcome Finance - Unenforcable?

      Originally posted by Bankstormer View Post



      Cash Advance: £2,800
      Homecare 24 (Insurance) £125
      Lifecare 24 (Insurance) £175
      Optional !?! PPI £1030.52

      Total amount of credit: £1430.52 Total Amount of Credit?? are you typing this verbatim? from the agreement? this is surely incorrect as the cash advance exceeds this on its own????

      Acceptance Fee: £235
      Mortgage Indemnity Fee: £308

      Total amount of loan: £4675.52

      Interest is charged @ 36.6% APR

      60 MONTHLY PAYMENTS OF £137.72

      The loan is made on the security of a legal charge on his property.

      he has missed several payments on the loan.
      Hmm, if those figures are correct your agreement is unenforceable for god knows how many reasons
      ------------------------------- merged -------------------------------
      the acceptance fee if set out within the credit makes the agreement fall over ala Wilson and First County Trust
      Last edited by pt2537; 29th June 2009, 22:09:PM. Reason: Automerged Doublepost
      I work for Roach Pittis Solicitors. I give my free time available to helping other on the forum and would be happy to try and assist informally where needed. Any posts I make on LegalBeagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide is without liability.

      If you need to contact me please email me on Pt@roachpittis.co.uk .

      I have been involved in leading consumer credit and data protection cases including Harrison v Link Financial Limited (High Court), Grace v Blackhorse (Court of Appeal) and also Kotecha v Phoenix Recoveries (Court of Appeal) along with a number of other reported cases and often blog about all things consumer law orientated.

      You can also follow my blog on consumer credit here.

      Comment


      • #18
        Re: Welcome Finance - Unenforcable?

        So what do we do about it & how long should it take to resolve?
        ------------------------------- merged -------------------------------
        Sorry, it was a typing error, Total amount of credit should read £4,130.52
        Last edited by Bankstormer; 30th June 2009, 11:00:AM. Reason: Automerged Doublepost
        I make my apologies now for my spelling ability. Maths was always my subject!

        Comment


        • #19
          Re: Welcome Finance - Unenforcable?

          Has anyone considered that there are undeclared commissions within the Ins. premiums - something that adds griss ta mill
          ------------------------------- merged -------------------------------
          Welcome & Aviva aka NU will confirm this (they have no choice) but deny you the info claiming they don't have to provide it which is nonsense & the FSA says so Nevertheless I suggest you have someone other than yourself get you a quote then compare that quote with their charges
          Last edited by righty; 30th June 2009, 11:29:AM. Reason: Automerged Doublepost

          Comment


          • #20
            Re: Welcome Finance - Unenforcable?

            Thanks for thet. Once I find out what i'm supposed to be doing i will add that to my complaint.

            Firstly, however, i need to know what my next step is, and the likelyhood of a result.

            Please help.
            I make my apologies now for my spelling ability. Maths was always my subject!

            Comment


            • #21
              Re: Welcome Finance - Unenforcable?

              I am sorry guys but you have completely lost me.

              Is there something obvious that i have missed?
              I make my apologies now for my spelling ability. Maths was always my subject!

              Comment


              • #22
                Re: Welcome Finance - Unenforcable?

                sorry Bankstormer - I'll move the spml posts to a new thread x
                #staysafestayhome

                Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

                Received a Court Claim? Read >>>>> First Steps

                Comment


                • #23
                  Re: Welcome Finance - Unenforcable?

                  As explained in my first post, we made welcome finance an offer of full payment of the loan less the PPI.

                  I have spoken with welcome finance today and they have confirmed that our offer was declined.

                  This obviously leaves us to persu the unenforcability issue.

                  Can anyone help us with what to do?

                  Can they take his house if he is not paying?

                  We are desperate?
                  I make my apologies now for my spelling ability. Maths was always my subject!

                  Comment


                  • #24
                    Re: Welcome Finance - Unenforcable?

                    Are you claiming the PPI was mis sold.....................as is usual for Welcome:tinysmile_grin_t:

                    Comment


                    • #25
                      Re: Welcome Finance - Unenforcable?

                      Yes we are, but i am getting the impression that if the ppi was missold then the whole contract is unenforcable.

                      also the acceptance fee was added to the credit and interest was charged on it.
                      I make my apologies now for my spelling ability. Maths was always my subject!

                      Comment


                      • #26
                        Re: Welcome Finance - Unenforcable?

                        Well in that case IMHO you should withdraw your offer or at least place a deadline on it (in writing)

                        However why are you offering anything if you think the debt is unenforceable?

                        Comment


                        • #27
                          Re: Welcome Finance - Unenforcable?

                          Because when we made the offer, as far as i was aware, the ppi was the only claim we had.
                          It was only when the lady at welcome mentioned that it may be unenforcable that i came on here for advice. (See the first post in this thread for more info)
                          I make my apologies now for my spelling ability. Maths was always my subject!

                          Comment


                          • #28
                            Re: Welcome Finance - Unenforcable?

                            OK formally rescind the offer & start a claim for compensation/refund + %

                            Comment


                            • #29
                              Re: Welcome Finance - Unenforcable?

                              OK I will write and rescind the offer, but what will i claim for?

                              PPI is fine, i know how to do that, but do i try and have the whole debt deemed unenforcable.

                              If so, how is it done?
                              I make my apologies now for my spelling ability. Maths was always my subject!

                              Comment


                              • #30
                                Re: Welcome Finance - Unenforcable?

                                Anyone?
                                I make my apologies now for my spelling ability. Maths was always my subject!

                                Comment

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