welcome finance help needed

[TANZARELLI]

Re: welcome finance help needed

http://www.thisismoney.co.uk/campaig...in_page_id=506

[scoobydoo]

Re: welcome finance help needed

I think I saw on another thread on CAG that they are being investigated at the moment so I will check the post for you tomorrow.

I guess you can give them one more chance to get the info you requested .

Shall we do a summary letter tomorrow with some questions for them ? then if you go to the FOS you will be able to give them evidence you have tried everything?



For example - you need a full breakdown of arrears
why do statement balances not relate to debits and credits
where can they show you were given advice on the fees PPI etc
Where are copies of letters they say they sent you?
Evidence of all the phone calls?
What are adhoc fees
Etc etc!
what do others think?

[poochie]

Re: welcome finance help needed

welcome have harrassed us sayin we are almost £2000 in arrears but we only missed 3 payments which was authorised breaks by them which they said would be added to end of the term.
They never sent us copies of letters they apparently sent us or a log of fonecalls they apparently made....
We sent letter after SAR askin them for info that was missin like ppi documents, medicare docs and other stuff which someone on cag said we were entitled to but they said they had no other info
Why are they with holdin info

[poochie]

Re: welcome finance help needed

we have never calculated how much we have paid but will try see if my hubby can do that at work wen he has time this week.
Apparently the agreement is not enforcable because it is illegal to add the ppi and medicare before calculatin the interest but I will go check again and copy some of wat was said to me if that ok and then paste it for people to see if they can confirm its true or not.

Thanx again everyone...much appreciated
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This was one of the messages I got from someone on cag


hi poochie

just had a look at the agreement

it appears they have not included the acceptance fee in the total ammount of credit

it gets better

they have included the ppi
i believe this again is a no no
i now you cant put acceptance fee in but unsure on an added extra ppi as this is front loaded

do you know what the 150 charge is for

ill get some one to confirm the ppi bit

ime sure its not allowed but need to confirm
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this is the next message I got on cag


hi poochie
just had it confirmed
they are not allowed to put ppi in the total ammount of credit before calculating interest

GAME OVER
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This was another message I got but after this I didnt get any letters to send to welcome and have not had any other advise or help which is why I am worried sick about welcome finance.

dear poochie


ill be sending you a letter later on tonight to send welcome ref the cancelled payments

the office of fair trading debt collecting guide lines on this matter are very clear

you have requested information on your account, under the law you are entitled to this data
now they have refused to give it, you can legally with hold payment until they comply

the account is in official dispute

[scoobydoo]

Re: welcome finance help needed

just had a look at the statement 8/12/08 the dates are not even in order then there is an entry for an interest rate change which says zero - but the balance changes? Then there is a payment of £200.00 no pence - but the balance changes by a different amount! How are you supposed to make head or tail of that?


Have you tried actually entering the info into a spread sheet in date order DR and CR and type t of charge to see how much you have actually paid in payments - what is fees etc.

I have never seen a statement like that!
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Its the same on other statements the dates are totally out of order and the balances dont reduce by the amount of payment made .

Have they actually said you are in arrears with payments ? if so how much?
------------------------------- merged -------------------------------
When you did the SAR did they show you records of the calls they made and the letters they are supposed to have sent?

[scoobydoo]

Re: welcome finance help needed

I agree if you have complained in writing and they have not given you explanations you can go to the FOS site and down load a complaints form - we can help you complete it.

Can you remember why they said on CAG to stop payments - was it because they put the PPI on the loan and then charged you interest on it?

[poochie]

Re: welcome finance help needed

we were told the ppi and medicare was condition of loan
We did not know about any fees and I complained about the charges and they sent a list of abbreviations they use for charges but add hoc was not on the list and no one at welcome will explain wat add hoc means
They just seem to pass the buck

[pinknico]

Re: welcome finance help needed

If you have already been making complaints to Welcome and they have ignored you ,you can contact the FOS and tell them you are getting no response and they will contact them for you. The FOS wont look into the enforcability of your agreement but they will help with payment amounts, charges and mis selling of PPI. Did you want the PPI? What period of the loan does it cover? They will also tell you who else to contact if they cant help.

[scoobydoo]

Re: welcome finance help needed

What letters of complaint have you done to Welcome or have you just done the SAR?

I need to have a closer inspe ction of your statements - did you know about the fees when you signed up?

I am not familiar with secured loans and still in my head I cant see why they put interest charged sometimes and capitalisation others.

The fact that only a small amount is taken off the capital first is normal in the first years is normal - but I need to get my head round why your debt has increased so much etc.

[TANZARELLI]

Re: welcome finance help needed

You can complain to the Financial Ombudsman Service, but they will want you to give the firm a chance to make things right first and require you give them 8 weeks to at least either sort this out or to issue you with their final response.

See here: http://www.financial-ombudsman.org.u...complaints.htm

[poochie]

Re: welcome finance help needed

yeah we can restart the payments again cause its secured on our property and dont want more probz on top of wat we already have..... Thanx for all advice and help...much appreciated

Wat do we do in the meantime tho, because we want to pursue this because we feel they keep changin things to suit themselves and as far as we are told, the agreement is fake because they added ppi and medicare before calculatin the interest etc

[TANZARELLI]

Re: welcome finance help needed

Thanks ed. I tend to agree. Are you able to reinstate the payments poochie?

We can look at the issues of mis-selling as an aside.

[ed.]

Re: welcome finance help needed

From a quick skim I would not withhold payments, I'm seeing prescribed terms here. What ever your other arguments are do not withhold payments. Start making them again.

Too many people say withhold payments, this is secured on your home and I'm seeing prescribed terms. Even if you can argue about level of payment etc this is not a risk worth taking unless I have missed something major.

[TANZARELLI]

Re: welcome finance help needed

Thanks scoobydoo, missed that cheers.

I will see what I can find out about it and drum up some comments.

[poochie]

Re: welcome finance help needed

yeah all the docs are in link on post 6....Thanx for all help and advice