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| Topic Started: May 9 2007, 10:06 PM (147 Views) | |
| Red24 | May 9 2007, 10:06 PM Post #1 |
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Is this site dedicated only to car finance or to issues with Welcome Finance loans as well? I ask before I post as it could turn out rather long! |
 
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| Bakedalasker | May 9 2007, 10:50 PM Post #2 |
www.saynotoyes.co.uk
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Hi We do deal with loans as well as car finance. We are in partnership with a company of legal experts who specialise in such things. So away you go and tell us your story. |
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| Red24 | May 9 2007, 11:21 PM Post #3 |
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OK, we took out a secured loan with Welcome in July 2004, bumpy start with miscommunications from the start. 1st payment was made in September, all went well, payment every month, everyone happy. Change in circumstances at the end of last year and we asked them for help with reduced payments for a while. Telephone conversations confirmed agreement but this was never forthcoming in writing which I asked many times for. We were told we never returned a call to confirm the payment so it was made void. Therefore we were in default - then the constant harassment started! A few months ago I wrote to their complaints dept by recorded, no reply. Another letter in March was sent and I received a reply to say someone would contact me - no reply Sent another letter a few weeks ago, a lot longer and more detailed, reply to say it was being dealt with, hear is my letter, so you'll have some insight as to the problem - Welcome Financial Services Compliance Services Mere Way Ruddington Fields Business Park Ruddington NG11 6NZ 26/4/07 Account Number FAO XXXXX XXXXXXX. Re Letter of complaint I am in receipt of your letter today and dated 24th April 2007 which I assume is in reply to my letter of the 13th April 2007. I appreciate that you have forwarded the comments to XXXX XXXx, Branch Manager of Central Accounts. To further delay resolving the problems and to prevent mis-communication and duplication, the points made in this letter can also be passed to Ms XXXX, as from the 14 letters I have written to date in the last 18 months, the reply from you has been the only reply. A letter I sent to the Compliance Dept by recorded delivery dated 21st March 2007 and signed for as being received has never been replied to. I attach this letter and maybe Ms West can reply to the comments made. I also attach a copy of an email that was sent to Welcome on 22nd March 2007, which has not been acknowledged at all. The letter dated 21st March as above and not replied to does not meet with your ‘Complaints Handling Procedure’ which states acknowledgement will be in 5 days and resolution within 4 weeks. I have many times requested a copy of your complaints procedure to establish the timescales but this has never been forthcoming. Since the last letter I wrote regarding telephone calls and conversations with *****, another call was received by Welcome on 19th April at 12.39, no message left. She called again on the 19th April at 17.54 and spoke to my husband, the conversation as follows “ she said full payment is overdue and that the Direct Debit has always been due on the 5th and this payment needs to be made now. She also asked to pass a message to me thanking me for the letter and re-iterating that Welcome does not reply to any letters other than sending computer generated standard letters.” I would like a copy of the agreement that our Direct Debit has always in fact been for the 5th of the month. The letter I wrote was addressed to the manager and therefore it should not have been replied to by **********and certainly not in a flippant manner. With regard to the telephone calls made by ******* when she is aware we are not in, she replied she was just ringing by chance to catch us in. We are not obliged to answer our phone to anyone at any time of the day if we do not wish to and to communicate in writing only, this section can also be found in the OFT guidelines. Since my last letter I have taken further advice from the FOS via email as the new laws came into effect from April 2007 – . From 6 April 2007 all businesses with a standard consumer-credit licence (issued by the Office of Fair Trading) must – by law – have in place formal complaints-handling procedures that comply with the rules. And for the first time, these businesses will also be covered, on a statutory basis, by the Financial Ombudsman Service. These changes come about as a result of new legislation – the Consumer Credit Act 2006. Businesses with a consumer-credit licence who are also regulated by the Financial Services Authority (FSA) – such as banks and building societies – have always come under the remit of the Financial Ombudsman Service for most of their consumer-credit activities. If a consumer-credit business fails to follow the complaints-handling rules, its eligibility to hold a consumer-credit licence may be affected. As Welcome Finance is very aware of our current situation, the pending sale of our property will mean that the account with Welcome will be paid in full, I do not need the continual harassment and threats made to me with regard to the account when Welcome are very aware that insisting we pay full payments at this stage will lead to further financial hardship. Or do we need the continual threats that our account will be passed on to the litigation department and the sale of the property will be stopped does not appear to be in line with the sympathetic nature quoted by Welcome in the way problems are resolved. Again I would like to add that we are not obliged to answer our telephone to anyone and to request yet again that communication be in writing. A further letter received from ***** dated 18th April states ‘I am disappointed to see that I have not received a reply and requests that we telephone her TODAY, and our account has been charged with the sum of £10 being the cost of sending the letter’. According to my telephone logging system a call was received from Welcome today at 14.16, no message left and another call with a message from someone with the name of ****, I think, today at 16.57 and another call at 18.52, no message left. Final call before posting this letter was from **** at Welcome at 11.37 this morning, 27th April 2007. After taking advice this morning from Consumer Direct I have been advised to not accept any more calls from Welcome as is my right. Any further communication then would be in writing only. I would like to refer you to the following, taken from Section 40 of the OFT handbook – including the parts which refer to this situation only. Physical/psychological harassment 2.5 Putting pressure on debtors or third parties is considered to be oppressive. 2.6 Examples of unfair practices are as follows: a. contacting debtors at unreasonable times and at unreasonable intervals b. pressurising debtors to sell property, to raise funds by further borrowing or to extend their borrowing f. pressurising debtors to pay in full, in unreasonably large instalments, or to increase payments when they are unable to do so g. making threatening statements or gestures or taking actions which suggest harm to debtors This practice is not indicative of communicating in writing. Again I would like to point out that your reply dated 24th April 2007 contravenes all the points made in your Complaints Handling Procedure. Yours sincerely ----------------------------------------------------------- Anyway to get down to the nitty gritty as follows - Total amount of credit - 20000 Acceptance fee - 235.00 Mortgage Indemnity Fee 2200.00 Total amount of loan 22435.00 Rate of interest 1.35 pm APR 21.20 Amount each month 378.62 over 120 months Are the acceptance fee and the Mortgage Indemnity fee legal or can I reclaim either/or! Currently selling property Settlement statement received as follows - Total amount repayable at start of loan - 45434.40 Rebate of acceptance fee and credit charges (1283.91) Collection fees - 215.00 Default interest/Interest reversal - (11956.91 Interest to settlement - 281.95 Less amount paid - (9158.26) To pay - 23532.27 The above figures mean nothing to me and because at this late stage I do not want to risk prolonging the sale of our house this amount will be paid and I intend to query it later, but what do I need to be looking at. Any advice would be much appreciated, I feel as if I've been in a no win situation for a long time being threatened and harassed by a so called Customer Account Manager. Please help me, the stress of dealing with this company and the sale of my house is not doing my health any good.!!! |
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| Bakedalasker | May 10 2007, 12:51 PM Post #4 |
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www.saynotoyes.co.uk
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Hi Red24, We have taken stock of your post and we will will get back to you as soon as possible. In the meantime do you have a copy of your agreement as our expert will most likely want to have a look at it? |
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| Bakedalasker | May 11 2007, 10:00 AM Post #5 |
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www.saynotoyes.co.uk
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As I suspected. Please could you send me a copy of your agreement to bakedalasker@saynotoyes.co.uk Our legal expert needs to have a look to see where we stand. |
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| Red24 | May 11 2007, 11:07 AM Post #6 |
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Hi, I don't have a scanner or access to one. Could you tell me what you would be looking for on the agreement and I could tell you if the info is there. Failing that could it not be faxed? |
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| Bakedalasker | May 11 2007, 11:51 AM Post #7 |
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www.saynotoyes.co.uk
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PMed you with details. |
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