Welcome Finance unfair charges

[Bazza]

I have an ongoing PPI claim with Welcome and a seperate claim regarding unfair charges, fees etc in which I submitted a compound interest calculation spreadsheet with my letter.

Well today I have received a response from Welcome saying that they agree that I was unfairly charged and that they would be refunding amounts plus interest.

My question is, should they have included capitalisation (interest) amounts i.e. £20.00 unpaid direct debit amount (refunded) plus £20.00 capitalisation amount also applied (not refunded) and then compound interest applied to total of £40.00 ?

Its just that the figures that I have obviously differ to what they are saying and do not want to agree to anything until I am sure that what I have is correct.

Also my Loan Agreement APR was 20.1% (which I used on my spreadsheet) but latest annual statement quotes 16.20% - does this sound right ?

Sorry for questions if sound stupid but just want some advice and clarity before I respond.

[Bazza]

Re: Welcome Finance unfair charges

Just an up-date regarding my previous post, I managed to reclaim all unfair charges plus interest from Welcome, who have deducted amount from my balance :tinysmile_twink_t2:

I also had an ongoing dispute with the handling of the account by Welcome in which they have now agreed to freeze any further interest as long as I continue to make monthly contractual payments until term end. This will save me approx another £10,000.

My question now is, I have an agreement in writing from them - will this be suffice ?

[Bazza]

Re: Welcome Finance unfair charges

Hi Happychappy,

Please see attached template that I used.

Good Luck

[happychappy]

Re: Welcome Finance unfair charges

That is so kind, thank you very much! Will keep you posted

[Bazza]

Re: Welcome Finance unfair charges

That is so kind, thank you very much! Will keep you posted

Please do and good luck.