how to understand a welcome finance credit aggreement

kirstycobie

hiya,

would be grateful if someone could help me to work the following out (sorry cant scan and upload it as printer has died)

total amount of credit: £750
duration of agreement: 36 months
amount of monthly payment: 43.63
number of monthley payments: 36
APR (variable) 73.65%
total charge for credit: £820.68
accep fee: £75
interest charged: £745.68
rate of interest per annum: 60.10%

this is all the info on the aggreement, everything else is 0.00

thing i want to know is, they told me at the time i couldnt take this load out if i didnt have PPI, but looking at this it doesnt look like ive got any ppi even tho i know i did. as the ppi part is just left blanc, not even an0.00 just a totally empty box.
the loan was took out in 28/01/2008

also is it legitamate credit agreement as i know there have been some cases of where welcome has worked it out wrong.
thansk

CLAPTON

for a loan of 750 at 73.65% APR over 36 months the number seem to be correct and
the numbers seem consistent with there being no PPI

kirstycobie

hiya,

yes but do you think they might of added everything up together to include the ppi, but not showed it on the agreement

gingeralan

If you received 750 cash after the loan was started then it appears no ppi has been added.

jonesMUFCforever

kirstycobie wrote: »

hiya,

yes but do you think they might of added everything up together to include the ppi, but not showed it on the agreement

No not even Welcome would do that so sorry nothing to claim back but good on you to at least have your copy of the agreement! LOL:D

Apples2

Jeez, you must have really needed that 750 quid.

kirstycobie

ok.

so on another loan off them they have charged me gap insurance and extra short fall insurance totalling £1000, can i claim this back or not?

mynameistallulah

kirstycobie wrote: »

ok.

so on another loan off them they have charged me gap insurance and extra short fall insurance totalling £1000, can i claim this back or not?

What did they say when you asked about these insurances when you first took out the loan?

kirstycobie

that i had no choice and had to take them

jonesMUFCforever

kirstycobie wrote: »

that i had no choice and had to take them

Surely the GAP insurance would have been arranged by your car dealer Welcome merely arranging the finance?

kirstycobie

gap insurance and short fall insurance with welcome finance