please help, problem with welcome finance

cladunk

hi, we would appreciate the help of anyone who knows what our next step will be or what the likely outcome of this mind numbing error will be.

my partner has a car loan with welcome finance, all well and good. we needed home improvements done before the birth of our child so my partner applied to welcome for an unsecured personal loan of 2,000.

there has been a lot of communication backwards and forwards since 03/04/08 as welcome seem to be a mickey mouse outfit with a severe lack of internal communication and structure.

the loan had been agreed in principle, all documentation complated and returned and proof submitted. we were just waiting on the loan being finalised. this is when the breakdown began. we were told a catalogue of lies from the loan being settled and paid and then to no.. that was a mistake a job check still had to be completed.
it took them until 14.05.08 for them to do the job check and then they confirmed that this had been completed and monies had been paid and we would have them in the acc in 3-5 business days. we further asked for confirmation of this on 15/05/08 due to the previous errors on welcome's behalf.

the monies arrived in my partner's account on 17/05/08, so we paid overdue payments and of course withdrew cash from an atm as there was an available balance according to the RBS, plus i must add payments were made using a maestro card issued by the RBS. it is our belief that a maestro card cannot be used if there are no available funds and there WAS clearly an available balance on my partner's account on saturday as it showed a full available balance.

we paid more outstanding debts today which also cleared and on leaving the house my partner's available balance on his online banking showed a balance of £900. we used the maestro card in a store today which was declined. ofcourse we were confused as to what had happened.

my partner checked at an ATM and it shwoed we were in the region of £17850 overdrawn :mad: on an acc which doesnt even have an overdraft and that welcome's payment was showing as having arrived in the account today and was also backedout by them today 19/05/08.

there were no funds in this account prior to the welcome finance balance clearing on saturday. there was an available balance which allowed us to lift the maximum amount in cash from the atm on saturday plus use the maestro card on the 17th and 19th to make payments.

my partner called welcome who said the loan was paid out in error and are denying that we have had access to the funds in the first place. are we stupid and insane?? i think not, the money was there and was used in good faith. it is our understanding that they can back out of an agreement beofre the money is settled but once the money has settled in our acc can they just then decide ohh we want it back?

they said it has been due to an error on their part, we shouldnt be able to have an HP agreement for a car and a personal loan. this isnt our mistake, it has been a grave error on their part which has lef tus in near financial ruin. my partner gets paid tomorrow and his wages wont even cover the "overdraft" which is now accruing charges etc.

what we also do not understand is the RBS showing an available balance, not pending... available on 17/05/08 but on my partner's online statement it now shows the money enetering the account and leaving the account on the same day.. today 19/05/08.

it seems to me now that there have been grave errors on the part of both institutions. we have complained about welcome finance now to the financial services ombudsman and my partner will be visitting RBS in the morning to see if that complaint has now to be extended to RBS too.

the fact that there was no avaialble balance until saturday and payments and withdrawals have been honoured due to an available balance, clearly shwos that the funds were there as we couldnt even get a toffee crisp wrapper from the account until saturday lol.

it is a huge headache that we do not need and the stress is proving too much for me at 6 months pregnant.

i find it incomprehendable that welcome can do this to us due to "an error on their part". the loan was settled, we never breached any terms of contract. they have now done so and are sending us further into the red by their actions.

are the RBS to blame too? it would seem that way. why would they give back an available balance to any tom. !!!!!! or harry.

sorry for the incredible long post but i am at my wits end. we would like some advice and knowledge to hit both institutions with tomorrow.

thanks you
claire

PS welcome have said they will call us back in the morning, i dunno if the knowledge that we have now complained to FSO has sent a rocket up them as my partner says she seemed more interested in what they had to say about it all. we need the money back in the acc and charges compensated. thats the bottom line. i dont care if it's welcome or RBS but one of them better fix this :mad: .