Welcome asking to refinance my loan

shammy36 · 1st July 2008, 21:31

Hi guys,
Just wondered if anyone has an opinion on this.
Had a few problems with mortgage arrears over the last six months or so,but thanks to this site and ell-enn in particular i have managed to get my debt down to zero this month

.

Anway, i have a secured loan with welcome for 20k and had missed a few payments with them when i was going through a self employed rough patch, to the tune of £1,100.
I now, after a lot of hard work i only owe them £150.00, but in the last few days have been bombarded with calls from them offering to re write the loan and lower the payments for me.

I must say that when i was struggling i did send them a cca request that they never replied to, but they did sign for.(they are now two months late)

I smell a rat !!!!! any thoughts guys ?

Regards Sham

manchester1 · 1st July 2008, 21:54

Shammy, Be careful that they are not after a copy of your signature, also how do you think they are going to repackage your debt and bring payments down, Well only one way by starting a new loan for you with poss a longer term. I smell a rat

Manc1

Ell-enn · 1st July 2008, 22:40

Hi Shammy - good to hear from you again, and especially glad to hear you're managing your debt well.

I'm with Manc1 here - I smell a rat too. Welcome probably don't have a valid CCA (they're well known for their shoddy paperwork) and think if they offer you a new loan with a lower monthly payment you'll fall for it - then BANG!! they have a new agreement - valid - and with your signature.

My advice is leave things as they are and wait and see what they come up with next - you're in no hurry if you only owe them £150

Ell-enn

shammy36 · 1st July 2008, 22:51

Thanks Ell-enn,
Nice to speak to you again,i think i will wait and see and maybe send them a reminder for a cca

Kind Regards

Sham

Ell-enn · 1st July 2008, 22:55

I wouldn't remind them they are out of time with their CCA - why should you remind them of their legal responsibilities? I would keep that one up your sleeve for a time when you might need it

shammy36 · 3rd July 2008, 00:12

Right again ell-enn,
God i hate you !!!!

Regards Sham

Ell-enn · 3rd July 2008, 00:15

shammy36 · 7th July 2008, 00:31

Hi Ell-enn,
Just a quikie off the welcome topic, had a statement of account from my mortgage provider,saying that i only owe them £24.50.

However when they cancelled my hearing , i note that they have still added £684.00 solicitors costs to my account.
Can they do this !!!!

Regards Sham

Ell-enn · 7th July 2008, 09:52

Hi Shammy,

Re the solicitors charges - was it an external solicitor they used, or was it their in house legal dept? In any case I'd ask for a breakdown of the charges given that the hearing was cancelled and there was no need for their representative to attend.

Kind Regards

Ell-enn

postggj · 7th July 2008, 09:56

please do not refinance the loan untill you have your cca back
the old agreements were nothing but toilet paper
take it from me i know
they offered me the same and then found out they had no agreement
i took them to court with all there failings and the resault was

NO MORE WELCOME

but the choice is yours

shammy36 · 8th July 2008, 14:10

Thanks Ell-een and postggj,
To answer ell-een, it was an outside firm of solicitors,and when i phoned them to confirm that they had had notice that the hearing had been cancelled,they said they had and would not be attending.

After speaking to my mortgage provider yesterday they said they did attend.......Sneaky barstewards

Ell-enn · 8th July 2008, 15:32

Have you been advised of the outcome of them attending the hearing? The sneaky devils will likely have asked for an adjournement with leave to restore, which means if you are ever in arrears again they can "fast-track" the hearing

You should have received something from the court telling you of this? if not ring the court and ask them.

This is why I keep telling people not to believe these lenders when they say they will cancel the hearing. In most cases where the hearing is within a few days, they don't cancel and get their reps to attend. I know of one case where the debtor didn't attend and then found out they had a suspended possession order for 12 months, even though there were no arrears!

Ohhhhh, they make me mad.......

Ell

shammy36 · 8th July 2008, 16:20

Hi Ell-enn,
Rang the court earlier and your right they did attend and had asked for leave to restore.

I have never had anything from the court saying this,and it never set any alarm bells ringing because i thought it was cancelled and that was that.
Still , we live and learn eh !!

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