Help with Welcome Finance

[michaele]

Hi,

I had a loan with Welcome Finance about 3 years ago. It was over a period of 12 months. I missed about 3 payments in total and was told I would be charged and that my loan amount would increase as because I missed a payment, the interest on the loan increased, therefore I owed more. So say if the 3 payments equalled £300 then because I missed them this went to around £375-£400 owing.

Is this right what they did or can I try claim it back?

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[mcvey123]

Firstlt ring them up and ask them to send you a statement of the loan and payments in full. This way you will see if there were letter and phone call charges added as well. You might also find a few unfair penalty charges, all of which you can claim back.

The interest on a welcome loan goes on every 19th of the month. if you can make the payment before this date, the interest is lower, than if you paid after this date. So if you missed a few months, the interest would climb, as it is compound.

Ask them for a statement first and then you can have proof of everything then

Sinead

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	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[michaele]

Thanks for that I will do and then post the details when I get them if ok.

[kingsmokey]

can anyone help i have a loan with welcome finance the original amount was £1500 I have payed £100 a month for four years although admittedly missed 6 payments during this time. They are now saying my credit agreement has expired and they need me to resign forms to pay off my remaining balance of wait for it £1500. I have sent the data protection letter as they have said i still have £566.34 outstanding balance plus £270 in charges plus £600 in interest that has been added. but i want to know does anyone know if i am still legally bound to pay them anything as the agreement has now expired. Welcome seemed desparate to get a settlement figure out of me and payed by the end of june when my agreement lapses.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[kingsmokey]

can anyone help if my agreement has expired do i need to pay the excess charges