Help writing a letter - Welcome Finance!

ikkle87 wrote: »

Hope somebody can please help. Apologies if I sound as though I am repeating myself!

In November 2006 I took out a loan with Welcome Finance for £2000 (£132 @ 24 months) In April 2007 I asked to borrow another £900 - an amount which I thought would be a seperate loan. The 2nd loan had PPI on which I am now trying to claim back as I believe I was mis sold on medical grounds. My new combined monthly totals were £217 @ 36 months.

Having recently requested a CCA agreement I have looked closer and the £900 loan also consolidated the first loan so has seen me taking out a loan to pay off £2000 + interest + £900 + PPI + interest again. So I am paying 2 lots of interest on the first amount of £2000.

Having spoken to somebody at National Debtline they have said although Welcome can argue that they provided copies of my agreement when I took the 2nd loan out I can retaliate with if they mis sold PPI then maybe they mis sold the terms of the 2nd loan as well. They have advised I write a letter of complaint and also mention forwarding my complaint to the FOS.

Can I please point out that although I did receive a copy of my CCA when taking out the loan soon after I was hit by numerous health problems which saw me unable to deal with my debts and it is only now that I am getting around to tackling them.

Can I also point out I am not trying to get out of not paying this loan off but to get the amount owed reduced slightly by hopefully having the 2nd amount of interest on the £2000 and the PPI removed.

However I am not very good at writing letters and would be grateful if somebody could help me out or offer any advice.

Thank you

Ikkle x

Ikkle tghey got you the same way the AA got me. If you borrow again from the same lender they calculate that you have paid nothing off the first loan but interest, so they lump the capital and the ppi in with the second loan. They also lend you the full cost of the ppi up front and charge you interest. As far as I know this was not frowned upon by the governing bodies until 2006. I'm no expert on the technicalities but if we can get the relevant facts together from various sources I'm more than happy to help with the letters. I don't have to be sarcastic, that's just how I deal with my creditors.
Nobody thinks you're trying to dodge your responsibility and with Welcome few people would blame you if you were. They are scheisters of the lowest order and should be flayed alive in my opinion.