Welcome Finance...Again!

moocow1977

Hi Everyone

Am a newbie to all this so please bear with me.

I've searched through other forums regarding issues with Welcome Finance and have found that they create common problems with their clients in the sense of they are pretty damn shocking in how they operate. However I've not yet come up against my particular issue. Its my partner who raised it and pointed the obvious out to me and its a case of now, can I do something about it. The problem is this....

I took purchased a car in May 2007, purchase price was £6,700, interest was added so the overall payback was around £9,500, or so it says on the paperwork. It equated to £189 per month which at the time was ok. Come December 2007 my husband at the time and I split up so I had to make some drastic money saving on wherever I could. I approached Welcome about reducing my car payments until such time that I was back on my feet financially and could put the payments back to what they were. They were very understanding and said I could reduce my payments to £119 per month, it would just take the loan over 7 years instead of the inital 4. Although the prospect of having a car loan for 7 years was daunting I said ok. Now they got a settlement figure at that point in December 2007 of somewhere in the region of £8,500, bearing in mind I had only been paying the loan for 7 months. They then proceeded to add a further 7 years worth of interest on the settlement figure to bump the loan up to around £12,000. Bearing in mind, the settlement figure included previously added interest over the 4 years, effectively I am paying double insurance for the first 3 and half years. Surely they can't do this, or can they??? Upon finding my documents out last night, I also noticed that they ticked No Customer Decision to all the extras such as health extra, ppi and breakdown cover. I already had breakdown cover with my insurance but the others, I was not eligible for due to at the time being on an agency contract at work not a permanent one. Is this paperwork now defrauded seeing as it was not my decision not to take out the insurance it was theirs not to offer it due to being not eligible? There was a tick box for not eligible so why was this option not take and why is it made out that I refused it?

I did however take out 2 previous loans which are both paid and was given the health cover and ppi which I intend to try and claim back the ppi. Being younger and more naive at the time I didn't know what I was signing for, I am not the sort of person to, if I lose my job, sit back and take benefits and get things paid - I did actually get made redundant in September 2005 while one of the loans was still active but I didn't make any claims. Instead I got off my butt and got another job so taking that into consideration, the payment protection would have been no benefit to me as it wasn't.

Any help on this would be greatly appreciated, even if what they did with the interest is "allowed" so to speak, likewise any financial advisors or legal eagles if its not could you point me in the direction to take action. It is not my intention not to finish paying the car loan, simply to only pay what I rightfully should be.

Thanks

Sunnie2812

Please could somebody help, as I really dont know where to turn

Of course its yet again WELCOME Finance and the bully BOYS.

I purchased a car on Hire Purchase from Car Craft in August 2007, I paid a £1000 deposit, and the car itself was £6000, the total value of the agreement a shocking £14809.00 I have maintained all regular payments of £310.41 per month since then to the end of Jan 2009.

My employment ended and I have no further funds to pay for the car, I am aware that I have payment protection but the Guy told me that is for when you have been made redundant, I recieved a letter from Welcome saying I has missed one payment, I came home and found that the Bully Boys had somehow entered my place of residence how I dont know and let a letter on my front door, asking me to contact them, the letter is dated 26/03/09.

This morning I am scared as I have had banging and banging on my front door, to the point, of where I am so frightened I may have to call the police.

I telephoned WELCOME asked who these guys were he said they were from the collection department, they will hang around and not leave till they take the car away,.The car is parked on a private driveway.

I have missed 1 payment, but the 2nd is going to be missed shortly.

I do believe they need a court order now? as I have paid a 1/3 of the amount.

PLEASE could someone help me...