Welcome financial services - 6 mths missed payments for years

[Mike1976]

Re: Welcome financial services - 6 mths missed payments for years

Lol. Sorry guys, kinda posted the same thing twice. thought my last update hadn't gone on. Turns out there's a page 2 now. durrr!!

[Mike1976]

Re: Welcome financial services - 6 mths missed payments for years

Just sent the SAR. will post again when i receive the paperwork.

Can i just ask? Is there no law against leaving a debt at 6mths missed payments for 4 years. Then putting it in default as of may 2012. Do i have any case to ask them to change the default date back?

Just seems a bit unfair that the law says that a default will drop off your credit file after 6 years however Welcome are able to to postpone this process by giving incorrect updates to the CRA'S.

MIKE.

[dogtired]

Re: Welcome financial services - 6 mths missed payments for years

Anything is possible with Welcome, the CCA fee sent via Incasso was put on to the account as they say they did not know it was for this purpose, why else would I send such a small sum? If they are able to maintain this it makes it look as if I acknowledged the disputed debt.

[Mike1976]

Re: Welcome financial services - 6 mths missed payments for years

Hi Guys,

I am awaiting the return of the info i sent off (SAR) to Welcome finance. Was thinking the outstanding balance on this account is £ 6,467 off a £2000 loan that i took from them back on 30/10/2006. I paid over £2500 back to them and the outstanding balance is all charges. Is it likely that any of these charges are unlawful. Will this be shown in the SAR info they send back? Because i was thinking i have requested PPI back from them on 2 completed loans dating roughly ten years ago and also the charges and PPI from the current one. Does anyone think that once they take these charges/compensations off the outstanding balance it will still leave a huge balance to pay.

Mike

[Kafka]

Re: Welcome financial services - 6 mths missed payments for years

This will all depend on what your agreement required you to pay in terms of capital to repay the loan and interest on that. In my case Welcome added on hundreds of charges for phone calls and so on, which were way beyond any actual costs so reclaimable. They also added on about 1000 just as unspecified 'fees' that appeared on the statements without justification. That's why they never send you statements so you can see what they're doing.

Basically you need to identify all the charges added on that were not part of the agreement and you need to pay anything left that was really owed as per the agreement. All the rest can be challenged, as can the PPI if it was mis-sold.

[Mike1976]

Re: Welcome financial services - 6 mths missed payments for years

Thanks Kafka/dogtired.

[dogtired]

Re: Welcome financial services - 6 mths missed payments for years

Thats ok, still nothing further from Mackenzie Hall!

[Mike1976]

Re: Welcome financial services - 6 mths missed payments for years

Hi Guys, Just a quick update.

Received an offer this morning from WF - PPI for 2 of the older loans ( Borrowed about £1700 paid back about £4k this was all over about 1 year as paid it early. This dates back to about 2003. seems little bit low to be offered £700 Compensation. Shall i wait untill i receive the SAR info back before accepting it. Still awaiting a decision on the current PPI claim. I have attached the letter below. Let me know what u think.

Thanks Mike

http://i1354.photobucket.com/albums/...ps6caf8df4.jpg
http://i1354.photobucket.com/albums/...ps6c94d4df.jpg
http://i1354.photobucket.com/albums/...ps8bfb2919.jpg
http://i1354.photobucket.com/albums/...ps66c8ce4e.jpg

[dogtired]

Re: Welcome financial services - 6 mths missed payments for years

Paid into your account? Would this "clear" it?
Think I would wait for your SDAR

[Mike1976]

Re: Welcome financial services - 6 mths missed payments for years

No they would take it off the current outstanding balance. Ov over 6k. yeah think i will wait for the Sar.

[dogtired]

Re: Welcome financial services - 6 mths missed payments for years

That seems typical. Just double check that SDAR when in comes, would not trust Welcome an inch.

[Mike1976]

Re: Welcome financial services - 6 mths missed payments for years

Dogtired/Kafka, Whilst im awaiting the SAR from WF. Can i ask your advise on an earlier post regarding the in breach of CCA rules?? mentioned by Kafka. .

If an account is defaulted then it is terminated, so the agreement no longer applies and your credit file gets marked to reflect this. The CCA rules require that the default is actioned within a certain period of the first payment default (6 months I think?) so they can't default the account a long time later. We has a acse a few days ago where a statute-barred debt was eventually bought up by a DCA that registered a default as of about 2 years ago. Now you can't restart the Limitation clock once its statute barred (despite what DCAs tell you), but by placing that default as 2 years old, it creates the impression that its not statute barred and noone would believe you seeing that. If you provide the timeline of all events relating to this account it'll be easier to see what has happened.

The fact that they didn't put this in default until 2012 (referring to the earlier ETERNITY at 6 months missed payments)- What would i need to do with regards to that ( Will it depend on the SAR.)

Thanks again

MIke

[dogtired]

Re: Welcome financial services - 6 mths missed payments for years

I have no idea, sorry, I just follow everyones goo
d advice plus the chap from our local CAB has told me it is unenforcabe due to Welcomes inability to porduce a legitamate document

[Mike1976]

Re: Welcome financial services - 6 mths missed payments for years

No probs dt, Kafka/Ruby any ideas??

Mike

[Mike1976]

Re: Welcome financial services - 6 mths missed payments for years

Hi Guys. Can u also have a look at this thread for me its also todo with WF.

http://www.legalbeagles.info/forums/...unt&highlight=

Guve me your ideas.

Thanks Mike