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Welcome redeemed loans
new_to_the_game
Posts: 41 Forumite
Hi all,
Just a little question here.
I am currently starting a fresh claim against Welcome an a loan I settled earlier than its term.
Firstly, the loan was made up of a 2 loans, the 1st loan was a small amount about £3k (if I can remember) which was then added to another loan and put into 1 larger loan (again about £8k in total).
The original loan was taken out in Oct 99 and listening to some people you could go back 10 years for reclaiming.
Now then I came into some money and redeemed the loan, and as I wanted to clear the loan off asap I asked what the company would settle for, to which they stated £6k, I never received an actual redemption statement from them but just paid it off.
I have since asked them for a copy of my original agreement, Which showed me the original loan amount and the new amount rolled into 1 loan. I did notice that I had PPI and other things on the loan and have since requested an original redemption figure to which guess what they do not have a copy of the original agreement.Lol.
I have informed them that they have sent me a copy recently and will gladly copy this and send it to them.
However I have been reading on the FOS website regarding Time limits etc and found this::rotfl:
General rule for actions on a specialty
8 Time limit for actions on a specialty
(1)An action upon a specialty shall not be brought after the expiration of twelve years from the date on which the cause of action accrued.
(2)Subsection (1) above shall not affect any action for which a shorter period of limitation is prescribed by any other provision of this Act.:):eek:
'As you have decided to advise me to escalate my complaint, a copy of this letter and of your final response and previous letters sent and received from my 1st request in March/April 2009 up to and including your last correspondence, will be forward to the Financial Ombudsman Services as stated on my last correspondence to you in October 2009.':D
the last bit is mine!
does anybody know wether this rule would be allowed or am I trying too hard?
Regards Chopper
Just a little question here.
I am currently starting a fresh claim against Welcome an a loan I settled earlier than its term.
Firstly, the loan was made up of a 2 loans, the 1st loan was a small amount about £3k (if I can remember) which was then added to another loan and put into 1 larger loan (again about £8k in total).
The original loan was taken out in Oct 99 and listening to some people you could go back 10 years for reclaiming.
Now then I came into some money and redeemed the loan, and as I wanted to clear the loan off asap I asked what the company would settle for, to which they stated £6k, I never received an actual redemption statement from them but just paid it off.
I have since asked them for a copy of my original agreement, Which showed me the original loan amount and the new amount rolled into 1 loan. I did notice that I had PPI and other things on the loan and have since requested an original redemption figure to which guess what they do not have a copy of the original agreement.Lol.
I have informed them that they have sent me a copy recently and will gladly copy this and send it to them.
However I have been reading on the FOS website regarding Time limits etc and found this::rotfl:
General rule for actions on a specialty
8 Time limit for actions on a specialty
(1)An action upon a specialty shall not be brought after the expiration of twelve years from the date on which the cause of action accrued.
(2)Subsection (1) above shall not affect any action for which a shorter period of limitation is prescribed by any other provision of this Act.:):eek:
'As you have decided to advise me to escalate my complaint, a copy of this letter and of your final response and previous letters sent and received from my 1st request in March/April 2009 up to and including your last correspondence, will be forward to the Financial Ombudsman Services as stated on my last correspondence to you in October 2009.':D
the last bit is mine!
does anybody know wether this rule would be allowed or am I trying too hard?
Regards Chopper
0
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