welcome finance help needed

[poochie]

Re: welcome finance help needed

ok I have written to welcome declinin to sign the agreement and listed our reasons.
I also sent copy to fos of letter we wrote in reply to agreement along with agreement.
I then got call from fos gentleman who has been asigned our case because he deals in secured loans etc.
I brought him up to date with welcome and explained I had just posted agreement to fos to see along with our reply...
He actually laughed and said I am giving welcome a run for their money and he couldnt agree or disagree with our reasons for not signin agreement but he looks forward to seein it and then he will write and get more info from welcome and keep me updated on wats happening.
He also mentioned that they could give welcome a period of say 12wks to amicably sort it properly with realistic figures and same terms and conditions etc and if they dont then I could raise action in court against them and have full backin of the courts because I used fos to try resolve the issue over a number of months without any success.... He will wait and see agreement and then advise me after he has contacted welcome again

Has anyone else been advised like this and does it ring true or was he spinnin me nonsense?

[WendyB]

Re: welcome finance help needed

I think Luggeer is at sea at the moment, no doubt he'll nip in when he gets back.

[poochie]

Re: welcome finance help needed

Ok I have written up a letter and will post it to welcome tomorrow and also send fos copy of dodgy agreement along with out reply to it.
Where has luggerbugs gone....he usually full of advice for this sort of thing

Stewie if you in same position, have you declined new agreement and written to them about it?...wat stage is your complaint at so far?

Thanx to all offerin advice etc...much appreciated

[pinknico]

Re: welcome finance help needed

I would write to Welcome and the FOS poochie.x

[poochie]

Re: welcome finance help needed

ok so do we write to welcome tellin them we aint signing and explain or do we take it to fos to see wat they say....... Or do we do both coz they cant be allowed to do this

[dogtired]

Re: welcome finance help needed

Got another form yestreday still not dated or signed by them but at last a copy. Still not going to sign it as terms and conditions are diferent and interest rate is also different.
no sign either of the £200 compensation that was also supposed to have been applied or the promised refund of all the charges that were agreed to.

[poochie]

Re: welcome finance help needed

Any more views on this guys
------------------------------- merged -------------------------------
I forgot to mention that welcome wrote to me about 2wks ago sayin they will refund the charges for calls and letters as good will gesture but that has not been mentioned in new agreement either...... Help still needed coz Im sure they still messin us about

[poochie]

Re: welcome finance help needed

ok so do I just write to them statin all you have said and see wat they say then contact fos to see how they can help?

Thanx for all help and advice...much appreciated

[stewie082]

Re: welcome finance help needed

Welcome claim in the reply made to you. They will refund you all PPI applied to the loan and all interest applied.

The idea is to put you back to the same position as if the PPI was never applied to the loan. They are not doing that. The agreement should be on the same terms and conditions as the loan in March 2005.

As far as I can see, the original loan you signed in 2005 and this new one are worlds apart and the terms are totally different.

- Interest rates are different
- Payment reminders and penalties now apply
- The contract is not dated

I also cannot see why your repayments only reduce by such a small amount. I think this is wrong, it should be about £255 a month. On the new APR they want you to pay you will be paying back £318, now doesnt that number look ever so similar to what you are paying back now??

With the APR refund you should ask for the capital and interest to be charged at 20.5% plus statutory interest of 8% compounded monthly.

Just some of my comments.

Stew

[poochie]

Re: welcome finance help needed

We have not contacted FOS as yet.... I was waitin to see wat advice was given on here.
We have no intention of signin this agreement and I will be writin letters to them again this weekend and will contact FOS to see wat they say
Can they change the interest rates from wen loan began?..... It is like you say, they want to still charge us but usin diffent way of doin it...... We just aint happy at all because all their stallin tactics are underhand to say the least....... Thanx guys

[dogtired]

Re: welcome finance help needed

Done this to us too.
No dates on the form or a copy for us ( tought they had to supply this) not out of the woods yet!
FOS say they can only "advise" and readng between the lines are unhappy with the way Welcome have handled all ppi claims made through them,

[stewie082]

Re: welcome finance help needed

Looks like they have upped your APR from 17% to 20.5%..Thats not putting you in a position as if PPI was never included. They are just charging you in a different way!!!!

Your statement should also display your APR. I know in my case the APR listed on my loan statement is incorrect. I would double check this.

what do the FOS advise?

Stewie

[poochie]

Re: welcome finance help needed

We recieved a new agreement to sign and send back today but we unsure about it coz it has different interest rates than wat they were wen we got loan, and charges for calls or letters etc if they have to contact us coz that means they can fone us or write letters willy nilly for no reason...... Also it would mean we would have agreed to it from the begining of loan period which we dont coz I have been disputin that since begining wen they started that nonsense of addin charges wen they wanted to.... They sent us one letter each instead of one letter addressd to both of us and they charged us for both letters which is not on in my opinion.....
Also this new agreement has no dates on it and it does not seem to take into account all payments we have made to date..... It just seems suspicious to us and we dont want to sign it because if we sign it as of today then it would seem the loan started today so we back at square one
Why have they not noted all payments we have made so far and revised the agreement......
There is no agreement number either on it which does not sit well with us
My husband also mentioned that it does not state that it is 2nd legal charge on property but it states it is made on a legal charge of our property...... My hubby thinks they should have stated it is 2nd charge after mortgage lender.
Guess who needs help again guys?....lol

Here is the links to the agreement and also new terms and conditions we got today..... All help much appreciated guys....thanx

http://i76.photobucket.com/albums/j1...reementpg1.jpg

http://i76.photobucket.com/albums/j1...reementpg2.jpg

[enaid]

Re: welcome finance help needed

Hiya Site team.

Im trying to hook upto this link but seems to be broken?

Very good thread by the way, very useful!

Stewie

Try this

PPI Letter Before Action - Legal Beagles

[stewie082]

Re: welcome finance help needed

poochie, please don't be sorry, it is they that are in the wrong.
Did you send the LBA letter ? This one? PPI Letter Before Action

Hiya Site team.

Im trying to hook upto this link but seems to be broken?

Very good thread by the way, very useful!

Stewie