Welcome Finance Issues

[kitkat kay]

Re: Welcome Finance Issues

Hi Dogtired, apparently this is the second credit agreement for my car, I dont know what i'm looking for so any help would be gratefully received, as for charges i'm still waiting for a statement of account.

[dogtired]

Re: Welcome Finance Issues

Not sure about a car one as ours was allegedly a "secured" load, I was told by the CAB its the "admin" fee bit which is on the one you posted is the "dodgy" bit but not 100% I hope somene that knows for sure will advise.

[Jazzinald]

Re: Welcome Finance Issues

Hi, hope you can advise?

I took out a loan in March 2004 to purchase a car through Welcome Finance and was told by them at the time, that I could not have a loan unless I took out PPI.

Although the loan was for £6000, with repayment over 48 months and with interest and PPI it meant that I would have to pay back over £12000? The repayments were £251 per month by Direct Debit. As I found it hard getting credit, and desperately needed a car, I accepted and signed the relevant paperwork.

All was well, but in April 2006 (2 years into the contract period), I decided to cancel the PPI. I sent Welcome a letter explaining that as with immediate effect, I would like to cancel my PPI payments as was my right to do so, and that as from that month, I would deduct the amount of my monthly PPI from the total monthly repayment.

I never received confirmation either by phone or in writing. April's payment went out of my bank, but the PPI payment was still taken too. I called welcome finance and was held in a never ending queue until eventually I got through to a guy called Chris Simmons who, to be fair, was a nice chap and quite helpful. He told me to carry on paying the full £251 each month and that way the loan would be paid off earlier, to which I agreed.

However, I never did receive any confirmation from Welcome about this arrangement. I wrote to them asking for written confirmation of this, but heard nothing back.

Approx 18 months later, I was doing my sums, and worked out that with the PPI cancelled but the repayments remaining the same, that my loan would be paid off in a short while and that if their sums agreed with mine, could they confirm this in writing. Again I heard nothing.

I made my final payments according to my calculations and cancelled any further payment via my banks DD. I never had any contact from them to argue against my decision to stop any further payments, so assumed all was done and dusted.

Approx 2 years later, I received a letter from Welcome stating that I still owed £1600? I immediately wrote to them with a breakdown of my repayments and my calculations as to what I had owed and what I had repaid, which added up to the correct figure when taking in to account the cancellation of my PPI.

They again never bothered to acknowledge my letter in writing and just kept sending final notice letters until they decided to send in the debt collectors. These were very threatening on the phone by keep leaving messages that my debt with Welcome was now their debt and that I must pay up immediately or basically face the consequences. I wrote to this company along with copies of the letters I had previously sent to Welcome and explained that, according to my calculations, I owed neither Welcome or themselves a penny and that they should sell their worthless debt back to Welcome.

This went on for quite some time until, I think, they realised they were getting nothing from me and sold the 'debt' on to Mackenzie Hall. Well, these are like a bunch of rottweilers with their never ending calls and threats over a period of about a year. Never once would I answer a call from them but I did write to them explaining what had happened and that I wanted them to send me proof of the outstanding 'debt'. They did send me a copy of the payments I had made to Welcome and the dates, but there was no knowledge of the cancellation letter of the PPI that I had sent to Welcome. I wrote to them again explaining this and that I was more than happy to go to court if this was what they wanted to do as I owed no money to anybody.

They also have now sold the 'debt' on Buchanan Clark and Wells who are now chasing me for this fictitious outstanding alleged 'debt'. Can you suggest what I should do, and how do I stand legally?

I thank you for any advice in advance and would be extremely grateful.

Many thanks

Jazzinald

[kitkat kay]

Re: Welcome Finance Issues

ok back to the original thread and a update:

I have now received my SAR through (sort of) original agreement missing and only statements up to 2008, it only took WELCOME about 2 months to reply to the SAR, anyway I have uploaded the paperwork for viewing.

[dogtired]

Re: Welcome Finance Issues

Can I bump for some input for Jazzzinald (post 48) they pmed me and I told them to post in open forum, plesse be kind, they are new and if admin can help them stsrt a new thread thank you

[kitkat kay]

Re: Welcome Finance Issues

Hi,


I was talking to someone about this and they said i should look into irresponsible lending, as WELCOME were fully aware that my wife was suffering from depression and that she was off work and only getting sick pay at the time due to depression, Welcome on their eligibility and suitability sheet state that my wife suffers with depression, they also state on their income and expenditure sheet that my wife is off work due to depression, my wife never returned to work and the depression was later diagnosed as rapid cycle bi-polar.


Any advise welcome ( no pun intended )

[FlamingParrot]

Re: Welcome Finance Issues

:bump::bump2:

[kitkat kay]

Re: Welcome Finance Issues

hi,

I was wondering if anyone had a chance to check the paperwork out yet ??????????

[dogtired]

Re: Welcome Finance Issues

I looked ! Not sure though so hope some one else can comment?

[kitkat kay]

Re: Welcome Finance Issues

Ok here's the update (yes this STILL dragging on), we had contact with welcome a few months ago and explained that we were still waiting for the statement of payments from 2008-2013.


Welcome assured us on 3 different occasions that they would send them out to us, then this week we get a letter from welcome telling us that the loan had been handed over to CABOT FINANCIAL and that all matters should now be taken up with them.


It appears to me that welcome had no intention of dealing with this issue, ignored us and then sold it on.

[charitynjw]

Re: Welcome Finance Issues

Hi kitkat kay,

You need to find out whether 'handed over' means actually sold to Cabot, or are they just acting as agents.

[kitkat kay]

Re: Welcome Finance Issues

Hi kitkat kay,

You need to find out whether 'handed over' means actually sold to Cabot, or are they just acting as agents.

Hi, the letter from WELCOME states that it was sold to CABOT.

[kitkat kay]

Re: Welcome Finance Issues

OK this is still ongoing and im getting really stressed about it.


Spoke to CABOT and they said that they will look into it, that was 3 months ago. when i last spoke to them CABOT said that they were having difficulty obtaining the statements from WELCOME.


What do i do now ? all i want is a resolution to this.

[charitynjw]

Re: Welcome Finance Issues

Hi kitkat kay,

I take it Welcome never did fully satisfy your CCA request or your SAR?

How are you dealing with Cabot?
If it were me, it would be in writing only (with proof of postage if land mail).

[kitkat kay]

Re: Welcome Finance Issues

Hi,

Thats right, WELCOME never sent the statements of monies paid and now it seems that CABOT are having trouble obtaining them.

I really want this resolved as it has dragged on so long, and it seems funny that as soon as i apply to welcome they sell the loan on.

Is there anything I could do ?