Is Welcome Finance going bust?

Sol00

I don't think they've stopped their tactics Gina, so no doubt it'll just continue as is, but on a smaller scale.

skintmumofone

QUOTE=stupot125;21230231]Just a quick question. If I make the usual monthly payment on time every month, can they still charge me if they call me?

I only ask as I cancelled my direct debit last week, and they called me the day BEFORE my direct debit was due to be paid and basically threatened me with a bad credit file and CCJ if I didn't make payment. So I did pay and arraged a new direct debit, and was told I had to also pay a £25 fee for cancelling the direct debit. I questioned her about it and she told me to hold and she came back to say "This time I wont add the fee on".

On my loan agreement it states "Our current charges each time you breach this agreement are:" now to me this would mean if I didn't make the payment, I would have had a £10 charge for the call. But as I paid in the alloted timeframe, will they be able to whack on the £10 charge for calling me?


Also, I was thinking, the easiest was for them to go bust would be if every customer they had just didn't pay. Everyone on here could start the ball rolling and ultimately cause them to crash lol. Only an idea.
Thanks in advance

Stuart[/QUOTE]

The same thing has happened to me Stuart. I received a call on 27th March for the payment due on 1st and in between 14 phone calls on my mobile and two letters each for me and husband with same info on it saying we have been charged etc. I paid my instalment on 1st by cash as I had changed bank accounts and was waiting on my new card so arranged with my bank to go into the local branch and pay cash to them. I received another call last month on the 27th April again stating the dd had not been set up and can I pay this now. I explained I DID not get paid til 28th hence the reason why the dd is set up on first of month :mad::mad:. Not very helpful at all and basically didnt have a clue? I wrote a three page complaint letter to her and sent back the dd again. The fourth one I sent back and stated on my letter to MAKE SURE they only processed one of these dds. Also received a letter 5th March about my PPI claim and completed their form sent it back next day - 8 wks later nothing no correspondence, not a thing so mentioned this in my letter to the local branch too. They are a nightmare my loan was for £15000 with PPI of £2407.96 = £17407.96 making our monthly totals £261.59. The girl on the phone insisted my monthly payment was actually £284.00 however i said to her on no occasion whatsoever have I paid that and on my loan agreement it is £261.59. Anyway you can imagine my horror when I recevied a statement saying my balance was £18,264.42!!!!!

I await in anticipation to her reply cos I am intrigued to know how she can answer that one I have paid this loan since June 2007 and missed 4 payments so arranged with them to pay an extra £60 each month which I have been doing since NOvember last year they constantly hound me and phone me at work on my mobile and then have the odasity to charge me!!!!

I for one will be delighted if I can get anything out of those shower of chancers!:D:rolleyes::mad:

skintmumofone

Sorry folks I have no idea what I just done there lol think I was playing around with the fonts.....!

I have also written back to the FOS sending them a copy of my letter and asking them to investigate further so will let you know what happens?

Cheers

stupot125

I don't see how the hell they can legally get away with this, a £15000 loan which has been getting paid for over two years still has a balance of £over 18000.

This is sooo wrong. Are they legally allowed to add interest onto charges? And how can they add charges on for calling to get you to pay within your monthly time frame?

I'm going to call them tomorrow to find out my balance, and if I find they've added charges on, I will be seeking legal advice on how to sue them. Even if it means going down the avenue of diminshing my mental and/or physical health. I'm sure I can fake something at the doctors to back this up lol.

GINA_2

Sol00 wrote: »

I don't think they've stopped their tactics Gina, so no doubt it'll just continue as is, but on a smaller scale.

Yes your right, but maybe they will now take notice of the damming reporrts againts wf and the amount of unhappy customers they have got; not to mention all the compaints FOS have received.
Good will jestures are needed to keep face, even with being bailed out, they stilll need customers otherwise they'll go down, which I still think could well happen. because of all thats happened.

Sol00

Stupot you don't need to get legal advice regarding Welcome, just ask here and we'll point you in the right direction.

They can, apparently, add interest onto the charges after 30 days of notification, to allow you to pay the charge off separately.

skintmumofone

Sol00 wrote: »

Stupot you don't need to get legal advice regarding Welcome, just ask here and we'll point you in the right direction.

They can, apparently, add interest onto the charges after 30 days of notification, to allow you to pay the charge off separately.

They have added a hell of a lot of charges onto my account then? I have written to them asking for the charges back also asked for a statement of my account since I started the loan and that way I will see what they have charged me - also have sent a copy of my letter to the FOS as they sent me a letter on 5th March and the 8 wks are now up so I referred it back to the FOS.

Any suggestions? Do I pursue this I initially wrote to FSO re the PPI but if it now involves getting back all my charges should I mention that to them too?

stupot125

Sol00 wrote: »

Stupot you don't need to get legal advice regarding Welcome, just ask here and we'll point you in the right direction.

They can, apparently, add interest onto the charges after 30 days of notification, to allow you to pay the charge off separately.

So does this mean that they HAVE to inform you of any charges applied to your account?

Sol00

skintmumofone wrote: »

They have added a hell of a lot of charges onto my account then? I have written to them asking for the charges back also asked for a statement of my account since I started the loan and that way I will see what they have charged me - also have sent a copy of my letter to the FOS as they sent me a letter on 5th March and the 8 wks are now up so I referred it back to the FOS.

Any suggestions? Do I pursue this I initially wrote to FSO re the PPI but if it now involves getting back all my charges should I mention that to them too?

So you've made a claim for PPI and charges? have you heard back from them regarding either of your letters? Did you send it recorded?

Sol00

stupot125 wrote: »

So does this mean that they HAVE to inform you of any charges applied to your account?

Yes. The letter I received says - 'we are not entitled to charge you interest on the default sums for the first 28 days after we have given you this notice', I would take from that that they have to notify their customers in advance, or at the time of the charge.