Welcome Loan *HELP*

ananewman_2

Hi

I took out a personal loan with Welcome finance before I took my car finance out with them in 2007, they have just said that they transferred my personal loan to my car loan without my permission and without notifying me and now say i owe £300 extra!!

Firstly can they do this??
Secondly why would they do this?

The lady I spoke to Annabel Morgan stated she did not know why they did this, she said she didnt know why they did this as their systems changed in 2009. I am really panicing and really angry about this as the way she spoke to me was as if I was an IDIOT?!

She asked that i put in writing that i want the loan transferred off my car loan but if I didnt know about this in the first place should I do this?

Consumerist

If you had not agreed to the change in the financial arrangements for the original loan then you need to write a formal compaint to the company. Head the letter with the word "Complaint" so they are aware that are making a formal complaint. Detail your complaint and ask them to provide proof of your agreement to the change. It is possible, however, that have agreed to new arrangements, without being aware it, when you signed the new agreement for the car finance. So you need to eastablish the facts first.

Ideally, you want the situation restored to the way it would have been if they had not made the change.

If you are not satisfied with their response to your complaint then you can refer it to the free Financial Ombudsman Service. You must, however, complain to company first, as above. They have up to 8 weeks to respond after which you can refer it to the FOS without waiting any longer.

ananewman_2

Consumerist wrote: »

If you had not agreed to the change in the financial arrangements for the original loan then you need to write a formal compaint to the company. Head the letter with the word "Complaint" so they are aware that are making a formal complaint. Detail your complaint and ask them to provide proof of your agreement to the change. It is possible, however, that have agreed to new arrangements, without being aware it, when you signed the new agreement for the car finance. So you need to eastablish the facts first.

Ideally, you want the situation restored to the way it would have been if they had not made the change.

If you are not satisfied with their response to your complaint then you can refer it to the free Financial Ombudsman Service. You must, however, complain to company first, as above. They have up to 8 weeks to respond after which you can refer it to the FOS without waiting any longer.

So they cannot legally do this, is their any legislation I can quote? As the lady also stated that they could take me to court, she was very nasty.

Consumerist

A lot depends on what you have actually agreed to, even if you were not aware that you had agreed to it at the time.

You should ask for proof of the debt in your complaint letter.

Your objective is to sort out any misunderstandings and to resolve the matter. Quoting all sorts of legislation which you may not understand is only likely to dig you into a deeper hole. I advise against doing that.

Ask the company for an explanation of the situation and if you're not happy with their response then refer the complaint to the FOS as suggested earlier.

ananewman_2

Okay - thank you for your help. I know that I never agreed to any of this. I have the loan documentation and none of it says anything about transferring it to my car loan.

ananewman_2

Hi

This is what i wrote is it ok?

*Complaint*


Dear Ms Morgan,

Following our conversation today, I am really concerned that you told me that approximately £300 had been transferred from an old personal loan to my car loan. You could not clarify when this happened or why, please can you investigate this as I have never been informed of this happening either by phone or letter. I was also informed at the time of taking both my loan and car loan that another agreement would need to be signed if any changes were made, I have never signed another agreement. It even states this on my loan agreements!

As you are aware, I have a debt management plan with Churchwood financial and they took on my personal loan payments. I have only ever had one personal loan with you and they have been paying you for this loan. Therefore the loan should never have been transferred to my car loan. I would like to understand why this happened. I would also like proof of the agreement that I signed to say this could happen.

In addition, I was not really too happy with the manner by which you spoke to me. I was being polite and yet was accused of being short when I was not, I was simply tired and merely explaining that I have not missed any of my car payments ever, since I took the agreement out. Even though I explained to the sales man “Walter” that it was way above my means and still is. My situation and needs wer never taken in to consideration and I did complain at the time and a few months later about this fact! I have attached proof in the form of my online bank statements that the payments have always been made.

If I do not receive a satisfactory response to this letter I will refer to the Financial Ombudsman. I expect this complaint to be acknowledged in the standard financial service complaint guidelines.

CHR15

Not sure it is what I would have written but a few things..

I hope you have included all the relevant Account Numbers (both Loan and Car) in big capital bold letters right at the top of the letter, above Ms Morgan.
Give them a chance to go straight to the account rather than looking your name up.

Don't assume they know anything about you or your case. If you are on a DMP, give the details to them rather than assuming they already know it all.

Para 3 doesn't really mean anything, it is just a vent, nothing will come of that one.
If you are complaining about a phonecall, you need to state the date and time the call was made.
I would put good money on Walter being a made up name, no doubt they ALL have their little aliases or little Office competitions about who can drum up the most ridiculous name during a call.
Who even knows anyone called Walter of an age to be working in this type of call centre??

Have a look at thier compaints procedure, see how long they should respond to the complaint and state it. I wouldn't leave it to them to decide when to respond. State the amount of time they have to repsond to you (eg 14 Days from receipt)

ananewman_2

Welcome have come back again saying I am in arrears by £337, I am not sure what to do as my car loan is paid for on time every month. I have not defaulted whatsoever. I have bank statements to prove this, can anyone help me with what i should do?

Thanks

Ana

Consumerist

Deleted_User wrote: »

Welcome have come back again saying I am in arrears by £337, . . .

If they haven't sent you a statement which justifies their position then you should write to them (by Recorded Delivery if you want to be sure they receive it) insisting they provide you with one. Your letter should start by saying that you dispute the arrears.

Edit
Re-reading the thread, I think it might be time now to refer the matter to the FOS. You'll find more help on this on the FOS website.

ananewman_2

The only letter I have received is one to contact them, no statement or arrears letters have ever been sent to me, probably because I have never been in arrears.
I will send a letter, should i just put what i put here?

Consumerist

Deleted_User wrote: »

The only letter I have received is one to contact them, no statement or arrears letters have ever been sent to me, probably because I have never been in arrears.
I will send a letter, should i just put what i put here?

If you have already sent a formal complaint letter then you can now refer the matter to the FOS. If you have not yet formally complained (in writing) then do so now including that you dispute the arrears and that you want statements to justify their position..