Welcome Finance----Anyone good at maths

Gregstac

I have had a phone call today from Welcome Finance to say that my offer is in the post. They would not give me any figures over the phone but my current loan details are below. Can anybody give me any idea of what the correct offer should need to be just in case they try and blind me with their own workings out.

Cash loan amount £18003.85
PPI Amount £3694.94
Loan term 180 months
APR 22.4
Monthly payment £387.82
Months paid to date 28
Annual interest 22.1

Hope someone can give me some idea on this, I have tried myself using the FOS info but I still cannot make head nor tail of it.

Regards
Greg

di3004

Gregstac wrote: »

I have had a phone call today from Welcome Finance to say that my offer is in the post. They would not give me any figures over the phone but my current loan details are below. Can anybody give me any idea of what the correct offer should need to be just in case they try and blind me with their own workings out.

Cash loan amount £18003.85
PPI Amount £3694.94
Loan term 180 months
APR 22.4
Monthly payment £387.82
Months paid to date 28
Annual interest 22.1

Hope someone can give me some idea on this, I have tried myself using the FOS info but I still cannot make head nor tail of it.

Regards
Greg

Hi Greg and yikes......:eek:, no not me - I am hopeless and guaranteed I will mess up.........sorry , but bumping this up for you anyway, good luck, oh and if you want to, feel free to also post this on the above ppi reclaiming thread as well, so you may get some feedback on there as well.
Good luck.:)

laverslomax

hi Greg, ive just been paid out from welcome on missold ppi , my ppi was 1,700, over a 4 year term, with the interest i got back nearly 4k. so hopefully you should have quite a sum coming back to you, keep us informed at how you get on, good luck......

marshallka

Gregstac wrote: »

I have had a phone call today from Welcome Finance to say that my offer is in the post. They would not give me any figures over the phone but my current loan details are below. Can anybody give me any idea of what the correct offer should need to be just in case they try and blind me with their own workings out.

Cash loan amount £18003.85
PPI Amount £3694.94
Loan term 180 months
APR 22.4
Monthly payment £387.82
Months paid to date 28
Annual interest 22.1

Hope someone can give me some idea on this, I have tried myself using the FOS info but I still cannot make head nor tail of it.

Regards
Greg

Hi, your PPI element was 17.03% so 17.03% of your repayments went toward PPI. This is 387.82 x 17.03% being £66.05 so x 28 = £1849.40. They should then add 8% interest onto each repayment from the date you made them too.

skintmumofone

laverslomax wrote: »

hi Greg, ive just been paid out from welcome on missold ppi , my ppi was 1,700, over a 4 year term, with the interest i got back nearly 4k. so hopefully you should have quite a sum coming back to you, keep us informed at how you get on, good luck......

Hi I am still waiting to be paid out from WF since October they have not told me what I would be getting but my ppi was £2407.96, I took this out in 2007 over 5 yrs hoping to get about £1500 back do you think they will send me more? Also getting full £200 compensation as agreed by the FOS

They are claiming to have external IT problems :T and keep saying it will be resolved by the end of the month.... they have been saying that since October
!

I just want it all to be over with so I can move on and get my house done my iron packed in on Friday and the hoover, microwave and toaster have all gone on the blink too lol I am an electrical disaster lol:rotfl:

nimparkin

Recontact them, they should have got back to you in 8 weeks! We've been struggling with them since August!

Gregstac

Hi all

Have had partial success today.. In total with Welcome Finance I complained about 7 loans, I have today received offers on the first two of £1100 and £1280.
So looking at their working out and on the amounts I should be looking at a total of about £7000 :T.
Lets just hope they get the cheque's sent asap.

Greg
PS Just to let some of you know I started my complaint on November 12th 2009 and have just received these first two offers.

di3004

Gregstac wrote: »

Hi all

Have had partial success today.. In total with Welcome Finance I complained about 7 loans, I have today received offers on the first two of £1100 and £1280.
So looking at their working out and on the amounts I should be looking at a total of about £7000 :T.
Lets just hope they get the cheque's sent asap.

Greg
PS Just to let some of you know I started my complaint on November 12th 2009 and have just received these first two offers.

Well done and Congratulations GREG :beer::T:beer: