Welcome Finance - Help Wanted, are they secret agents??

Zippy2006

The company policy versus law - always gets them - not just when dealing with finance companies but also when taking back goods to shops.

I did have one shop manager say don't quote the law to me blah blah blah !!

My reply went along the lines of 'Sorry i did not mean to insult your intellegnce, and I forgot that you know and understand consumer law'

He replied 'yes thats correct i do know consumer law'.

I replied 'Well good - you will understand that the goods you have sold me dont work and are not fit for purpose. Therefore I am entitled to a refund. If you don't give me a refund i will use the law and go to small claims court to settle this matter.'

He replied 'but my company policy say's........'

I butted in 'I thought you knew and understood consumer credit law' ... ' you don't because your company policy is not the law and because you dont understand .... you don't know the law.... and have just lied to me now as well tsk tsk tsk.'

Needless to say he coughed up in front of the ' interested audience in the shop'.

result.

Zippy2006

delorean wrote:

I'll do that on Friday then if I don't receive anything in the mail.

Can I walk in to the 'local branch' too and demand they offer a settlement figure .

If they don't i'll just leave the car outside and walk home.

They have to give you a settlement figure - especially if you go to their office in person. Remember to be polite and stay calm - don't raise your voice or anything just request and advise them you have already made this request and nothing is forthcoming.

They might say its in the post - you should request for another just to make sure you recieve it, but better still ask for one now. It should not be difficult in this day and age of technology.

If they can't give you a figure there and then - ask for a signed and dated aknowledgement of your request.

Dont hand the car to them though thats the last thing you should do. It might cause you more grief than you need.

vixvic

Just been reading through this post and...... I asked Welcome finance (Birkenhead, Wirral branch) for a settlement figure about a week ago, before I read all your posts. The very nice lady on the phone told me straight away and posted me a letter to confirm.

So unless different branches have different policies, surely not??!! They should and can give you that information over the phone.

Just a thought

the_taws_family_of_7

Just to comment on how cr*p welcome are we had a seured loan with them which we settled a year early and when we went to sell our house years later(4 to be precise)the mortgage company said that there was a hold on the house.Yes you guessed it welcome we had to make numerous calls and letters and it took them about 6 weeks to remove it.So id recommend anyone to double check with things like that.(It was the gateshead branch)

delorean_2

vixvic wrote:

Just been reading through this post and...... I asked Welcome finance (Birkenhead, Wirral branch) for a settlement figure about a week ago, before I read all your posts. The very nice lady on the phone told me straight away and posted me a letter to confirm.

So unless different branches have different policies, surely not??!! They should and can give you that information over the phone.

Just a thought

The guy I spoke to was a complete !!!!!!. Very arrogant and unwilling to help.

I'll call him again today and demand a settlement figure.

They only have til the end of next week anyway before I move to Canada so they can keep the damn car for all I care.

delorean_2

Just got off the phone, I called Head Office who said they received my letter and faxed it to my local branch. The woman I spoke to said head office can't help and put me through to the branch manager at my local branch.

He went on to say that as far as he was concerned he couldn't offer me a figure over the phone because he'd never heard of any part of the CCA 1974 that said I am allowed a figure over the phone.

However he said he got my letter faxed over and that I should "Royal Mail permitting" receive a settlement figure in the post tomorrow.

We shall see...

Zippy2006

delorean,

it's not so much about getting the settlement figure over the phone... but in this day and age they should be able to do that.

It's about them basing the request on the DATE you made the request.

the actual wording is contained in within an amendment of the original act.

The Consumer Credit (Early Settlement) Regulations 2004

The link here will take you to a copy...

http://www.opsi.gov.uk/SI/si2004/20041483.htm

here is the impotant bit........

Settlement date
5. The settlement date for calculation of the rebate shall be taken to be -

(a) where the debtor has given notice under section 94 of the Act with a view to discharging his indebtedness under the agreement, the date falling 28 days after the date on which the notice was received by the creditor, or any later date specified as the date of early settlement in the notice, if the debtor pays the amount in question (less any rebate allowable under these Regulations) not later than that date;

(b) the date specified as the date for payment of any sum by the debtor involving early settlement in any notice served under section 76(1) of the Act, any default notice or any notice served under section 98(1), if the debtor pays the amount in question (less any rebate allowable under these Regulations) not later than that date;

(c) in any other case, the date on which the debtor pays any sum involving early settlement.

---

In other words they will earn more interest out you if they stall on giving you a settlement figure.

The settlement figure date should be for the amount due (less any refund of interest as outlined in the act) 28 days after THE ORIGINAL REQUEST.

So if you asked for settlement on the 1st of the month - the settlement figure should be BASED on the figure for the 28th.

By stalling you they can gain a few more weeks.

It's sad but they will do anything to get a few more pounds out of you.

You still have to ask them........

Why are you unable to give me a settlement figure now?

You should insist that the figure is based on the date of your original request.

Hope this helps.

Zippy2006

Passing thought.....

I wonder how quick they would at giving you a settlement figure if......

You phoned up and said, 'Hi I've got a loan with you and I'd like to borrow some more money.'

Likely reply.... 'No problems sir would you like to add the remaining balance of your current loan to the new one'

'Yes please' !!!

Okay sir I will get you a settlement figure now. Then we can proceed with the new application.

delorean_2

We shall see if he is true to his word and that my letter should arrive tomorrow.

I have got home from work now and found a letter replying to my letter I sent requesting a figure on Thursday which they got on Friday so that was pretty fast.

No useful info though, just says they transferred it to my local branch.

They better sort this out, they have until next friday as I emigrate next saturday so the timer has started!

Zippy2006

Good luck and all the best for your new life in Canada.

cheers :beer: