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| Another Welcome Finance | |
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| Topic Started: Oct 8 2006, 10:42 AM (1,022 Views) | |
| coldudeuk1 | Oct 8 2006, 10:42 AM Post #1 |
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What a great site you have here. Have been reading it for months and various others. Anyway thanks to this site i now realise i have been mis sold ppi by welcome. Like your typical ycc i was told i couldnt have the finance without having the ppi, gap and breakdown cover. Trouble is that they sold me ppi when i was only on a short term contract. Have , thanks to your site, now realised that because of this short term contract i was on, i wouldnt have been able to claim on the ppi. Anyway, i have cancelled the ppi with welcome. They said i can do this but my monthly payments wont be going down as the ppi is pro rata or something or other i dont understand. its cancelled but ive still got to pay for it? At this moment in time im about to send welcome a voluntary termination letter. I have had the car 2 years and paid the amount bringing it up to my termination rights. I have never missed nor had a late payment, but im pretty sure this is not all going to go smoothly. Welcome stand to lose about 5k by me doing this. The car is a rover 25, and worth about £800 if im lucky. Does anyone think it worth me persuing this ppi and if so how would i go about it? |
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| Firefox | Oct 8 2006, 12:05 PM Post #2 |
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I to have a car with Welcome. However I have only just discovered that it was not a hp agreement I signed but a personal loan. I have no right to terminate the agreement now! This was not explained to me when I bought the car. |
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| whistleblower | Oct 8 2006, 01:11 PM Post #3 |
www.saynotoyes.co.uk
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Hi there, and welcome to the forum, smile I must say it doesn't sound like the best deal? Yes, we will cancel the PPI for you but the payments will remain the same.  With your short term contact employment, the PPI may not cover you as far as employment concerned. For this reason, the policy may well have been mis sold to you if they did not advise you about this. I would make contact with the FSA, they are regulated by them, and policies these days cannot be mis sold. I would first contact Welcome, advise them that unless you are refunded for all PPI payments and the policy cancelled you will be making a complaint to the FSA. See what response you get back and let us know how you get on.. |
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<a href="http://www.dpbolvw.net/click-2359542-10365649" target="_top"> <img src="http://www.awltovhc.com/image-2359542-10365649" width="120" height="60" alt="" border="0"/></a> Applying for car finance? <a href="http://www.kqzyfj.com/click-2359542-10366647" target="_blank" onmouseover="window.status='http://www.creditexpert.co.uk';return true;" onmouseout="window.status=' ';return true;">View your Experian credit report online for FREE</a> and see what lenders will see <img src="http://www.tqlkg.com/image-2359542-10366647" width="1" height="1" border="0"/>  <FONT COLOR=RED>Vanquis credit card is owned by provident Financial.Typical 39.9% APR variable Say No! </FONT> Are you having problems with Yes Car Credit or a debt collection agency? Make your complaint direct to the Office Of Fair Trading and BBC1 Watchdog below:. James.MacDougall@oft.gsi.gov.uk or telephone 08457 22 44 99 watchdog@bbc.co.uk or telephone - 020 8535 1000 ****************************************** Advice & opinions of the 'saynotoyes' team are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts ****************************************** 
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| coldudeuk1 | Oct 8 2006, 01:52 PM Post #4 |
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Thanks whistleblower. i will write to them direct. Iam no longer in a short term contract, i left that job and am now in a full contract job, just at the time when i was made to take this ppi out, i was in a short term contract, think it had 3 months left on it, and i did inform them of this. Shame there is no saynotowelcome group, this company is as bad as ycc are/were and i think this site has been fantastic in making me realise my rights, even though it is mainly directed for ycc. Firefox I have heard about these agreements finance not hp. from what i gather they still register the car as having outstanding finance on it, even though you own the car and because its a loan rather than hp they have no connection to the car. Do some looking around and you will find loads of valuable info that may help you. |
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| coldudeuk1 | Oct 10 2006, 05:36 PM Post #5 |
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Posted a letter recorded delivery on monday, got a phone call today from them. They are cancelling the ppi and hopefully paying me my money back. This all seems a bit to easy, they did not even try and argue. Action groups like this one must have really stirred things up in the finance world. Will keep you posted to how it all goes. |
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| jenni | Oct 11 2006, 08:32 AM Post #6 |
www.saynotoyes.co.uk
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 congrats coldudeuk1!!!please remember though to keep all of the correspondence with them and make sure they send you a letter confirming what you were told on the phone so you have concrete evidence should anything go wrong maybe the tides are turning in the finance world - about time too 
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<a href="http://www.dpbolvw.net/click-2359542-10365649" target="_top"> <img src="http://www.awltovhc.com/image-2359542-10365649" width="120" height="60" alt="" border="0"/></a> Applying for car finance? <a href="http://www.kqzyfj.com/click-2359542-10366647" target="_blank" onmouseover="window.status='http://www.creditexpert.co.uk';return true;" onmouseout="window.status=' ';return true;">View your Experian credit report online for FREE</a> and see what lenders will see <img src="http://www.tqlkg.com/image-2359542-10366647" width="1" height="1" border="0"/> ****************************************** Advice & opinions of the 'saynotoyes' team are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts. ******************************************
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| whistleblower | Oct 11 2006, 02:20 PM Post #7 |
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www.saynotoyes.co.uk
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Great news! I am sure that Welcome Car Finance don't wish the same negative publicity as Yes Car Credit and have decided to act in a positive manner. Keep in touch with us and let us know if you get a result. wink |
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<a href="http://www.dpbolvw.net/click-2359542-10365649" target="_top"> <img src="http://www.awltovhc.com/image-2359542-10365649" width="120" height="60" alt="" border="0"/></a> Applying for car finance? <a href="http://www.kqzyfj.com/click-2359542-10366647" target="_blank" onmouseover="window.status='http://www.creditexpert.co.uk';return true;" onmouseout="window.status=' ';return true;">View your Experian credit report online for FREE</a> and see what lenders will see <img src="http://www.tqlkg.com/image-2359542-10366647" width="1" height="1" border="0"/> <FONT COLOR=RED>Vanquis credit card is owned by provident Financial.Typical 39.9% APR variable Say No! </FONT> Are you having problems with Yes Car Credit or a debt collection agency? Make your complaint direct to the Office Of Fair Trading and BBC1 Watchdog below:. James.MacDougall@oft.gsi.gov.uk or telephone 08457 22 44 99 watchdog@bbc.co.uk or telephone - 020 8535 1000 ****************************************** Advice & opinions of the 'saynotoyes' team are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts ******************************************
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| Bakedalasker | Oct 12 2006, 05:29 PM Post #8 |
www.saynotoyes.co.uk
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Wonder if this has anything to do with it? http://www.thisismoney.co.uk/campaigns/art...&in_page_id=163 |
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| Steve_G | Oct 16 2006, 07:17 AM Post #9 |
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just sent them an email.... Hi, I just thought I would drop you an email with regards to Yes car credit and its horrendous mis-selling/con tactics. I am a member of www.saynotoyes.co.uk which has been set up by other YCC customers who are disgruntled at the way they were sold cars that were either over-priced, unroadworthy or both. Finance packages that tried to fleece as much as possible from the customer... promise of £100 deposit then asking for more and more as the car you want isn’t in your price range (which they don’t tell you nor do they have prices on the vehicles). PPI, GAP and warranty cover that is non cancellable, non optional (as they stipulate you wont get the finance without it, exactly the same tactic as used by welcome). No policy documents provided for these insurances that they insist are non cancellable as they pay for them up front!! I returned my vehicle after 2 years (half way through the agreement) in accordance to the contract and thought that was the end of the matter. 3 months later I received a letter stating I owed £1500 for insurances that were outstanding. So even tho I had returned the vehicle I was still paying for warranty cover, PPI and GAP insurance for something I no longer even owned. A few weeks later I got a demand for £4300... they had me down as a repossession apparently even tho I had already received confirmation of £1500 owing. I contacted CAB who were actually quite shocked at the whole affair (I am led to believe they actually now have a specialist department set up just for YCC complaints there is that many of us out there in the same position). It just goes to prove that the whole company doesn’t know what its doing or who actually owes what. I have now sought legal advice on a no win no fee basis and I know that others are also contesting this matter. Unfortunately they are still making demands of people for these outstanding onies, some have lost been made bankrupt through these bad practices and blatant profiteering methods. Hopefully a site like yourselves can highlight these issues as consumers we tend to fall on deaf ears when we speak to YCC/DAF. I hope this email is something you would consider either acting on or publishing a small article about so that others in similar positions may have some hope of resolving these issues to their advantage and get rid of the noose around their neck that is YCC Regards Stephen Gibbs |
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| coldudeuk1 | Nov 23 2006, 08:02 PM Post #10 |
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Thought i would update you all on whats been going on. Think its been about 6 weeks since i first contacted welcome to vt my car and demand my mis sold ppi back. To be honest they have been quite good and helpful. They have kept me up to date on whats been going on and yesterday the RAC man came out to check the car over, Very nice RAC man  got a very nice report on the condition of the car and some very useful info as well.Anyway am just waiting for a phone call in the next day or 2 for them to take the car away and its all done. As for the ppi, well they wont tell me if they are going to pay it all back as yet just that they will refund me some, but to be honest "some" and being shot of a car that was costing me a fortune, and overall would have cost me 3 times what its worth when i bought it 2yrs ago im happy with the end result. Fairly quick, quite straight forward and all in all not a bad experience from it all is the best way i would describe it. Now to anyone who is thinking of going with Welcome be warned. As ive said i had a very nice RAC man and he is not impressed with welcome at all. He deals with the vt`s for them and it seems mine is an unusual case. he said most people wait at least 6 months as welcome stall and stall trying to screw those extra payments out of them. Usualy by then most of the cars he see`s have been parked up for that long and are falling to bits and then welcome try and screw ppl for that as well. |
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4:16 AM Nov 29
