Luggerbugs v Welcome Finance

[LuggerBugs]

Re: Luggerbugs v Welcome Finance

Letter has been sent telling them I am unhappy with their final response, but time is running out for me to complain to the FOS. Being a fair minded chap I thought I'd give them a couple more days grace, but since I'm off back to sea next week, I really do need an answer sharpish.

Tried phoning the other day, but the system used for PPI complaints was "down for maintenance". In terminal meltdown, would probably be more like it.

Nevertheless, I am persevering again. I wanted to get an answer from them today so they can pop it in the post in time for Monday. Benn sitting here listening to their "customer services" ring tone for the past 12 minutes with the only indication I have the right number being the "Thank you for calling Welcome's customer services" message at the start. Have they all been sacked, or summat?

I'll give them 20 minutes, then I'll be putting that complaint in to the FOS anyway.

[LuggerBugs]

Re: Luggerbugs v Welcome Finance

Feckem. Complaining now. I can always ask the FOS to back off if they decide to start negotiating.

[LuggerBugs]

Re: Luggerbugs v Welcome Finance

Can't sleep due to next door getting loud and drunk. So my feeble little brain has been mulling this over.

Assuming the PPI actually WAS mis-sold, as is my belief, and ostensibly backed up by their giving in without a fight and wanting me to sign another agreement, then correct me if I'm wrong, but isn't this tantamount to the total amount of credit being stated incorrectly in my agreements?

Therefore they, and in particular, my current agreement, are therefore irredeemably unenforcable?

Quite apart from the fact that they forgot to sign this one in any case. Foolishly, they provided me with a copy faxed over from their archives, so it has the fax header on. So they cannot now produce a signed copy because they have already provided dated proof that it wasn't signed.

Just thinking out loud, really. I'm not too keen on just stopping payments on this basis, cos I can't be bothered having to put up with fighting a black mark on my credit file for the next 6 years. But it's nice to have a bargaining chip tucked away for later.

[LuggerBugs]

Re: Luggerbugs v Welcome Finance

Just been having a nosy in CAG. Somebody else has asked the same question as me. And the answer appears to be, mis-sold PPI being included in the final figure for credit makes the whole agreement unenforcable right enough.

I'm going to have a whole heap of fun when I get home next month. Thank goodness I didn't jump straight in and sign a new agreement.

[enaid]

Re: Luggerbugs v Welcome Finance

Well I don't like the bit about signing a new agreement tbh, but we all know lugger is no mug, so watch this space lol.

Am not as green as am cabbage looking me you know pmsl :beagle:


.

[LuggerBugs]

Re: Luggerbugs v Welcome Finance

The thing that really bothered me Enaid, was it would need to have been backdated based on the figures they provided. Rather than scrapping the first one (although I have a story there) and doing a completely new agreement based on payments so far, they were looking as if they wanted to get this one in the system with last years date on it. I hesitate to call it fraud, but it certainly sounds dodgy to me.

In fact, that original WAS the second agreement, cos they cocked up with the first one, as it would have run on past my retirement. However, if you read back a bit, I had to fight to get that erroneous agreement removed from my credit file.

I suppose I'd better check that it HAS gone.

[LuggerBugs]

Re: Luggerbugs v Welcome Finance

Bloody hell, there's about 7 seperate loans with Welcome/Progressive Financial on my credit file. One has just been deleted. What the heck have they ben playing at?

SAR tomorrow I think. They are all marked as settled, bar the current one. This is going to be even more fun than I thought.

Can somebody point me in the direction of a decent spready, cos I am thinking compounded interest at THEIR rate. One of them was at nearly 26%!!!! One dates back over 4 years!!!!

Plus 8% statutory on the total.

Welcome are my new best friends. :tinysmile_kiss_t4:

[TUTTSI]

Re: Luggerbugs v Welcome Finance

Try this one:-

http://www.legalbeagles.info/forums/...ead.php?t=7969

[LuggerBugs]

Re: Luggerbugs v Welcome Finance

Marvelous. Well, I'll be away back to sea for a month on Tuesday, then off to the States for me jollydays. That should be plenty of time for them to repond to a SAR if I pop it in the post in the morning.

I have a feeling there has been some shady goings on here. I'm not at all sure that all those loans were mine. Unless of course it's a simple case of some are duplicated as a result of the confusion between Welcome and Progressive Finance... them being the same company.

It's like waiting for Christmas, innit?

[Amethyst]

Re: Luggerbugs v Welcome Finance

optional PPI can be included in total amount of credit so long as it is split down to amount of credit for insurance, amount of credit for cash advance etc. It should also have the interest on the insurance seperate then added together with interest for cash advance (then any commissions and arrangement fees) to get total charge for credit.

Be easiest if you scan the agreement in.

The new loans bit with PPI carrying over is probably the best bet., especially if you have 7 of them lol.

[LuggerBugs]

Re: Luggerbugs v Welcome Finance

You just had to pee on my fireworks, didn't you? LOL

OK, so what you are saying is, even if the final amount for credit is stated as a total in the final box, so long as there is a breakdown elsewhere on the agreement, they are covered. Even if the PPI makes the figure wrong????

Righty ho. I still have a signed agreement and bucket loads of PPI to fall back on.

Another question... why is it really important that I ask them for a breakdown of insurance commission???????
------------------------------- merged -------------------------------

optional PPI can be included in total amount of credit so long as it is split down to amount of credit for insurance, amount of credit for cash advance etc. It should also have the interest on the insurance seperate then added together with interest for cash advance (then any commissions and arrangement fees) to get total charge for credit.

Be easiest if you scan the agreement in.

The new loans bit with PPI carrying over is probably the best bet., especially if you have 7 of them lol.

Ah, NO. The interest on the insurance is lumped together with everything else. That's me cheered up again.

[Amethyst]

Re: Luggerbugs v Welcome Finance

Is it set out like this?

I was going to check this one anyhoo for Tools, the PPI insurance isnt stated seperately, which i think it should be, and so the total charge for credit is difficult to see whats on the PPI and whats on the cash advance.

Best to ask Curls or PT.

[LuggerBugs]

Re: Luggerbugs v Welcome Finance

One of them is. The current one is set out in similar fashion, but it is computer generated now, rather than on multi part flimsy.

I'll scan stuff in half an hour or so.

[LuggerBugs]

Re: Luggerbugs v Welcome Finance

Here's the pertinent bits...

[LuggerBugs]

Re: Luggerbugs v Welcome Finance

Oh, look. The post has just arrived. And look what they sent me on Friday.

I'm guessing they hadn't read my last letter at that point yet. :tinysmile_twink_t2:

I write further to your letter received on 18

th June 2009.
Further to our previous written request, we are yet to receive the signed
replacement loan documentation from you, so that we may complete the
process referred to in my previous letter.
Should we not receive the necessary signed documentation from you within
the next two weeks in order for us to complete this process, we shall have no
option but to rebate the monies due towards your active loan account. This
will serve to reduce your existing loan account balance. Therefore, I would
gratefully request that the documentation be returned as soon as possible.
Should you remain dissatisfied with our.final response,. you can escalate your
complaint to the Financial Ombudsman Service within six months of the date
stated on our final response. I have enclosed their details for your information.

Thoughts? No option but to rebate the monies due towards your active loan account????

Is that supposed to be a threat?

I notice thay are not too specific about how much that will be or how it would work out.

Maybe I'll get a phone call today. But I doubt it.