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advice on welcome tactics,unsigned contract

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  • advice on welcome tactics,unsigned contract

    hello everyone
    let me start by saying what a terrible evil lying gangster place this Welcome finance really is,i am not alone in that i am sure,but i am trying to help my neice with WF any advice is needed.
    from what i can gather she took a loan out back in 2003 last number of the account was 79,then in 2005 they closed that account and opened another one number ending 40, now they said if she paid £60 per month for 5 years that would be it,but as you can guess it was not,she got a letter of them stating she still owed a grand,anyway she has now had enought and wants me to help her.
    now their is a contract from the 2005 period when they closed the old account and opened the new one,it is not dated but the amount on the contract is the end balence of the old account and the begining of the new one, but it is not signed by her or by them,does that mean the account is dead.
    also the monthly capitalisation/interest is that legal,she pays in £60 and they take £30 out of that per month that has to be illegal.
    also going after the ppi tell you more about that later, any comments please .thank you
    Tags: None

  • #2
    Re: advice on welcome tactics,unsigned contract

    Would it be possible to post the contracts REMOVING ANY PERSONAL DETAILS?

    Comment


    • #3
      Re: advice on welcome tactics,unsigned contract

      Yes its legal

      see here re understanding how loans work

      http://www.legalbeagles.info/forums/...ad.php?t=24844

      Comment


      • #4
        Re: advice on welcome tactics,unsigned contract

        Yes--as above--post up your agreements--just so happens I know a hell of a lot on how Welcome in particular do sums

        Comment


        • #5
          Re: advice on welcome tactics,unsigned contract

          Welcome are a nasty company to do business with, you probably have insurances you do not need and there interest calculation methods are much to be desired.

          As Casper says post up any agreements you have removing personal details first.
          If you think nobody cares if you're alive, try missing a couple of payments.

          sigpic

          Comment


          • #6
            Re: advice on welcome tactics,unsigned contract

            Originally posted by pompeyfaith View Post
            Welcome are a nasty company to do business with, you probably have insurances you do not need and there interest calculation methods are much to be desired.

            As Casper says post up any agreements you have removing personal details first.

            Disagree---Welcome do redress far better than Halifax , Firstplus,Llloyds etc...

            Comment


            • #7
              Re: advice on welcome tactics,unsigned contract

              Originally posted by Turboman View Post
              Yes its legal

              see here re understanding how loans work

              http://www.legalbeagles.info/forums/...ad.php?t=24844
              However, not legal if the creditor failed to obtain the borrower's consent in agreeing the new terms and conditions.

              Comment


              • #8
                Re: advice on welcome tactics,unsigned contract

                Im not disputing that turbo but the way they handle complaint before that stage and indeed the way those loans were sold in the first place is wrong just a look at the many defunked agreements OTR proves this and the only reason redress is being handled better now is because of regulatory pressure
                If you think nobody cares if you're alive, try missing a couple of payments.

                sigpic

                Comment


                • #9
                  Re: advice on welcome tactics,unsigned contract

                  I'll watch with interest. We owe welcome money and they made first contact via phone last week. Refused to say who I was. They phoned back on mobile this time and said oh sorry Mr xxxxxxxx we've just spoken to you.

                  I said I didn't say I was Mr xxxxxxxx but yes they had just spoken - would they write to me please.

                  I assume they're nasty!

                  Comment


                  • #10
                    Re: advice on welcome tactics,unsigned contract

                    with welcome communicate via letter only as that paper trail is very important with this outfit
                    ------------------------------- merged -------------------------------
                    unless of course you can record calls eather way you need that important record of what has been said or indeed not said
                    Last edited by pompeyfaith; 15th November 2010, 10:06:AM. Reason: Automerged Doublepost
                    If you think nobody cares if you're alive, try missing a couple of payments.

                    sigpic

                    Comment


                    • #11
                      Re: advice on welcome tactics,unsigned contract

                      [quote=Caspar;184323]Would it be possible to post the contracts REMOVING ANY PERSONAL DETAILS?[ hello casper i will get the contract tommorow and post it see what you think,many thanks]
                      ------------------------------- merged -------------------------------
                      [quote=Turboman;184336]Yes--as above--post up your agreements--just so happens I know a hell of a lot on how Welcome in particular do sums[ hello mate and many thanks for your replys,i will get the contract tommorrow and post it,see what you think, cheers mate.]
                      ------------------------------- merged -------------------------------
                      [quote=pompeyfaith;184337]Welcome are a nasty company to do business with, you probably have insurances you do not need and there interest calculation methods are much to be desired.

                      As Casper says post up any agreements you have removing personal details first.[ thanks mate,will do tommorrow]
                      ------------------------------- merged -------------------------------
                      [quote=Ihaterbs;184366]However, not legal if the creditor failed to obtain the borrower's consent in agreeing the new terms and conditions.[many thanks mate for your reply,i ill post the contract tommorrow and you will see it is not signed and under contract law 2 parties must agree with the terms on a contract,and if you have not signed then it must be illegal,i hope.]
                      Last edited by bullring57; 15th November 2010, 23:18:PM. Reason: Automerged Doublepost

                      Comment


                      • #12
                        Re: advice on welcome tactics,unsigned contract

                        hello everyone, first hear is the letter stateing the old account is closed,

                        Comment


                        • #13
                          Re: advice on welcome tactics,unsigned contract

                          hear is that contract from 2005.

                          Comment


                          • #14
                            Re: advice on welcome tactics,unsigned contract

                            Originally posted by bullring57 View Post
                            hear is that contract from 2005.
                            not attached bullring

                            Comment


                            • #15
                              Re: advice on welcome tactics,unsigned contract

                              Nope! Letter fine. Agreement not there - could you try again please?

                              Comment

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