Welcome finance insurance(new agreement)

mikeb222

Hi Guys,

I took out a loan with Welcome Finance (unfortunately) in 2007. They added £750 for rubbish insurance.
I complained after 2 years of mis-selling, which although they didnt entirely agree, once the Ombudsman got involved they agreed to cancel the insurance.

However, they have now sent me a new agreement without the insurance added to sign and return.
It all looks above board and the figures add up to what the loan would have been without the insurance.
The only snag is there is no date on the agreement.

Could they therefore say that this is a new loan and that we have 48 months still to pay on it (22 months left on old agreement)

I don't trust them after some of the tricks they have pulled so far, so I just want to clarify my legal position.

marshallka

mikeb222 wrote: »

Hi Guys,

I took out a loan with Welcome Finance (unfortunately) in 2007. They added £750 for rubbish insurance.
I complained after 2 years of mis-selling, which although they didnt entirely agree, once the Ombudsman got involved they agreed to cancel the insurance.

However, they have now sent me a new agreement without the insurance added to sign and return.
It all looks above board and the figures add up to what the loan would have been without the insurance.
The only snag is there is no date on the agreement.

Could they therefore say that this is a new loan and that we have 48 months still to pay on it (22 months left on old agreement)

I don't trust them after some of the tricks they have pulled so far, so I just want to clarify my legal position.

Hi, I would ask them to clarify it in a recorded delivery letter. You need to know what you are actually signing for.;)