welcome finance.... help me!!

I_know_my_ABC_and_my_CMYK

Hippocampus wrote: »

Who ever checks their banks statements each and every month? I'd hazard a guess and say precious few.

I would say most people do. I check mine daily.

ShayaT

I would really appreciate it if people would be constructive with their comments, and not put cutting or sarcastic comments.

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ShayaT wrote: »

I would really appreciate it if people would be constructive with their comments, and not put cutting or sarcastic comments.

Hi there ShayaT... unfortunately it's the way things are - when you post a question/comment you'll need to just expect to see comments of all sorts, ones that agree ones that disagree and unfortuately some that are from trolls or pure spam.

Most people, certainly on MSE do check their bank accounts more often than it seems you do - I check my daily, probably over the top but I watch every penny which is cross referenced to my spreadsheet so need to be sure of what is going out and coming in.

With regard to your issue requesting a SAR (per the post a few above) is the way to go about it.

GJ

ShayaT

Hi GJ,

Thanks for the heads up. haha

since getting the MSE newsletter for a few months and working for a while in a bank ( left after feeling totally hypocritical) I now check my statements ever week to make sure all is ok and running smoothly.

I shall have a look into requesting an SAR and I am thinking of going to CAB with all my documents.

maestro1302

Hi there, I used to work there so am very aware of what some of the branches are capable of. Despite the cost, do a SAR request for all information they hold on you, INCLUDING 'Siebel' info, which is the system that holds electronic info. Firstly, check all details they give you and highlight any discrepancies within the paperwork/system printouts - there is every chance they have not transposed information across correctly, therefore having differing accounts of your circumstances on file. Secondly, get a statement of account. Check yourself or get somebody who understands how payments are applied to make sure that ALL your payments have been applied, they have a habit of inventing charges so that the lazy sods don't have to recalculate settlement figures etc. Send in a letter to the complaints team in Nottingham requesting no further contact from the branch due to them being aggressive. Any further contact, record the date, time and number used with details of the employee and phone call. Probably fits the pattern of said employee's way of working so management will be aware of this person. Lastly, you should have provided them at the time of 'rewriting' your loan details of your banking affairs, payslips, basically any thing that highlights your income and expenditure at the time. If provided to you in the SAR request, check your income/expenses - very possible they have not calculated your affordability correctly which means you should not have been granted the loan in the first place. If they can't provide this information, this PROVES they didnt check your affordability which is a big no no. Basically, get your file, and pull it apart for discrepancies, irregularities. Anything you can nail them on! If you need any further info, just shout

skintmumofone

maestro1302 wrote: »

Hi there, I used to work there so am very aware of what some of the branches are capable of. Despite the cost, do a SAR request for all information they hold on you, INCLUDING 'Siebel' info, which is the system that holds electronic info. Firstly, check all details they give you and highlight any discrepancies within the paperwork/system printouts - there is every chance they have not transposed information across correctly, therefore having differing accounts of your circumstances on file. Secondly, get a statement of account. Check yourself or get somebody who understands how payments are applied to make sure that ALL your payments have been applied, they have a habit of inventing charges so that the lazy sods don't have to recalculate settlement figures etc. Send in a letter to the complaints team in Nottingham requesting no further contact from the branch due to them being aggressive. Any further contact, record the date, time and number used with details of the employee and phone call. Probably fits the pattern of said employee's way of working so management will be aware of this person. Lastly, you should have provided them at the time of 'rewriting' your loan details of your banking affairs, payslips, basically any thing that highlights your income and expenditure at the time. If provided to you in the SAR request, check your income/expenses - very possible they have not calculated your affordability correctly which means you should not have been granted the loan in the first place. If they can't provide this information, this PROVES they didnt check your affordability which is a big no no. Basically, get your file, and pull it apart for discrepancies, irregularities. Anything you can nail them on! If you need any further info, just shout

Hi I read your post with great interest. I have had a really hard time with WF over the last so many years to cut a long story short, we took a loan out and it was secured on our property, I told them that I didnt have enough equity in the property howevr they still gave me the loan I have taken my claim to the FSO and they have upheld it and will be paying back the PPI etc but they have charged me over £3000 in charges and interest since the date of the loan. Should they have given me the loan in the first place knowing that we had negative equity in our home and if the worst happened they wouldnt have a hope in hell of getting their money back? AM just a little confused with it all? waiting for my calculation tho with great interest and vry intriegued to find out how they calculate it!

ShayaT

Thank you so much for this advice, I will definately get an SAR!

maestro1302 wrote: »

Hi there, I used to work there so am very aware of what some of the branches are capable of. Despite the cost, do a SAR request for all information they hold on you, INCLUDING 'Siebel' info, which is the system that holds electronic info. Firstly, check all details they give you and highlight any discrepancies within the paperwork/system printouts - there is every chance they have not transposed information across correctly, therefore having differing accounts of your circumstances on file. Secondly, get a statement of account. Check yourself or get somebody who understands how payments are applied to make sure that ALL your payments have been applied, they have a habit of inventing charges so that the lazy sods don't have to recalculate settlement figures etc. Send in a letter to the complaints team in Nottingham requesting no further contact from the branch due to them being aggressive. Any further contact, record the date, time and number used with details of the employee and phone call. Probably fits the pattern of said employee's way of working so management will be aware of this person. Lastly, you should have provided them at the time of 'rewriting' your loan details of your banking affairs, payslips, basically any thing that highlights your income and expenditure at the time. If provided to you in the SAR request, check your income/expenses - very possible they have not calculated your affordability correctly which means you should not have been granted the loan in the first place. If they can't provide this information, this PROVES they didnt check your affordability which is a big no no. Basically, get your file, and pull it apart for discrepancies, irregularities. Anything you can nail them on! If you need any further info, just shout

shortiejk

skintmumofone wrote: »

Hi I read your post with great interest. I have had a really hard time with WF over the last so many years to cut a long story short, we took a loan out and it was secured on our property, I told them that I didnt have enough equity in the property howevr they still gave me the loan I have taken my claim to the FSO and they have upheld it and will be paying back the PPI etc but they have charged me over £3000 in charges and interest since the date of the loan. Should they have given me the loan in the first place knowing that we had negative equity in our home and if the worst happened they wouldnt have a hope in hell of getting their money back? AM just a little confused with it all? waiting for my calculation tho with great interest and vry intriegued to find out how they calculate it!

I have a shared ownership property (share 25% value of share is £38000) I borrowed £7500 from welcome and then they consolidated my personal loan with them as well.

I borrowed more (now total of £21000) and was advised my payments would go up but the term would stay the same.

Low and behold, I got a statement a few months ago and it turns out its now over 15years! I pay £403 a month, only £20 of that seems to go on the loan and the rest pure interest.

They also gave me this loan when i was in arreas with my mortgage company. They asked me the amount and I guessed. they wrote out one cheque for one amount and then i was supposed to get the other cheque for the mortgage lender. I had to keep ringing to get it and then they gave it to me in my name so I had to cash it before sending it to the mortgage lender.

1st time round they checked with mortgage lender, this time round they didnt. Arent they supposed to?

By the time I pay it off, it'll be about £72000 paid back.

My own fault for not checking everything. If I pay back now it'll be £22000 to get rid of it.

My credit is now brilliant, I only use debit cards. Have one credit card which I always pay off in full. No other debts.

But...

I can't get a loan at a lower apr to get rid of this one as i have been told

1. Due to responsible lending and not having enough equity
2. I always get asked hwo the hell did they manage to lend me that amount and I should get it checked out.

I have tried OFT, FSA, ombudsmen and haven’t really got anywhere.

I dont run from my debts and as I said pay them all off, just want to pay of welcome and get a lower apr somewhere else.

I also now need to buy a bigger place as I have two boys in a 1 bed place and I'm pretty much screwed. Due to the size of the loan and the little share I have, how am I supposed to sell and move on...

Any help would be grateful.

And yes, before anyone says it, I'll say it again, its my own fault for not reading all the paperwork fully
:mad:

I only took out more cos they called me and I was about to have my 1st son and was doing contract work. This gave me the ability to stay off work longer and get everything I needed. Wish I hadnt bothered now.