where do I stand with welcome

[dogtired]

Re: where do I stand with welcome

Is this a secured or unsecured loan?

It was secuured, uncertain now

[Guest]

Re: where do I stand with welcome

It was secuured, uncertain now

HI

Any security would be inafective if the agreement is improperly executed section 113 of the CCA i think.


Peter

[Ruby]

Re: where do I stand with welcome

Surely if the loan was secured then essentially your property is at risk of repossession no matter what? I have a secured loan with Welcome dated back from 2008 but assumed I could not challenge agreement,dispite having recent financially difficulties which meant we went into arrears with our mortgage company.

[labman]

Re: where do I stand with welcome

You can always challenge agreements, the important thing is whether it will get you anywhere or not by doing so. In the case of Welcome it is difficult. The original agreement was pre 2007, so that could well be worth challenging. The agreement in 2008, if I understand correctly, was a 'top up' agreement from the original and if it's like the ones I've seen already would be headed 'Agreement Modifying A Hire-PurchaseAgreement And Regulated By The Consumer Credit Act 1974.' It is debateable whether these are legitimate or not, especially as they rely on an agreement that, if it were challenged, may be unenforceable.

If the original is unenforceable, then any modification of it may well also be unenforceable.

If you have a copy of the original and the modification is the same or similar to what I've mentioned above, it would be worth removing all personal details and posting it up for opinions.

[Ruby]

Re: where do I stand with welcome

Will dig it out and post it in the next few days. Kids are still on holiday up here in Scotland

[labman]

Re: where do I stand with welcome

Excellent! Don't forget to remove your personal details. :beagle:

[Shadowcat]

Re: where do I stand with welcome

Does anybody know if OFT have a dedicated Welcome team? Tks.

Shadowcat.

[Ruby]

Re: where do I stand with welcome

Well, well, well, have hunted high and low and do not seem to have a signed agreement in my poccession Will contact them tomorrow and ask if they can send us a copy ....

Please see enclosed what I do have

[Shadowcat]

Re: where do I stand with welcome

I have put it in the hands of the FOS to get a copy of an agreement Ruby. Welcome seem to want to take you for a walk up the proverbial garden path rather than answer the question of why they are not sending a copy. My own thoughts are that it's because there are many issues, one being the loan is no longer secured (and I use the term secured loosely). I am also writing to the Land Registry to ask who 'Progressive Laons' are as stated on a copy of the Deeds Welcome sent (as a threat imo).

[Ruby]

Re: where do I stand with welcome

When I speak to them tomorrow I will let them know that unless I receive this within 14 days I will stop paying them. I have no interest in mincing my words to them! Will keep you posted, please do the same. BTW do you have a copy of a signed agreement, or is it much the same as me?

[Shadowcat]

Re: where do I stand with welcome

No copy of the agreement whatsoever. They made a mistake in sending copy of the deeds imo for more reasons than I can go into. I said on another thread that their threats to come to the house have been reported and given an incident number, these are not nice people from what I hear so there is a genuine concern there. If you decide to phone the Financial Ombudsman and ask them to request Welcome send you a copy, however if you do decide to deal directly with Welcome remember whatever you say on the phone could be denied/twisted, keep phone contact minimal. I got the impression that the Financial Ombudsman was taking non-receipt of contracts very seriously if that helps.

Also, if you can get hold of a copy of your Land Registry application from them you'll probably find it won't be their name registered on them, an issue I'll take up with Land Registry and escalate it to void this entry and get it taken off. May also look into it being a fraudulent entry, I'll speak to Land Registry in more detail about that.

[Ruby]

Re: where do I stand with welcome

Just off the phone to them and they have verbally confirmed that they do have a copy of the signed agreement on record. Need to send £1.00 to get copy of it. Will post letter/cheque today. Will let you know how I get on, please do them same .......

[dogtired]

Re: where do I stand with welcome

Re earlier posts.
Seem to remember the name "Progressive Finance" from about two years ago when we made enquiries to the land registry.
They appear to have been (or still are) part of the Welcome/Cattle's group of companies.
http://investing.businessweek.com/re...capId=34585004

Found it again link above

Meanwhile I have spoken at length to the debt adviser/legal man at our local CAB .
He is 99% sure that this alleged agreement is unenforceable and that we should reject the offer from FOS as there are major errors in the figures from Welcome (why am I not surprised)
The ball is now firmly in there court as I have requested and sent for another CCA!:beagleT

[Shadowcat]

Re: where do I stand with welcome

I will request copies of the Title Application made by Progressive Finance and then tell LR that we have never had an agreement with this company.

[dogtired]

Re: where do I stand with welcome

Yet another "error" it would appear that "Progressive" used "Welcome" as a trading name and is in all possibility on our deeds, but we do not have it on our copy.
Also Welcome "added" the "Medicare" and "Home care" to this disputed account but this was not on the original.
The figures therefore are wrong but FOS says only the PPI was considered and this would have to be a separate issue,
Thanks to Labman for his help via Pm its good to know we are not alone with the issues with this horrible company.:doggieyesT