Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
My son has got himself a welcome finance loan - money borrowed £3300.00 this is over 48 months of which 14 months have now gone past. This loan will cost him £11000+. I have written to them asking for a settlement figure 2 weeks ago, but not heard anything back yet. I am wondering if anyone else is in the same position. The agreement says if you have paid 1/4 of the loan back you might well be expected to pay just over £5000. I thought he could re-finance this for cheaper and pay them off. Any thoughts welcome.
DO NOT refinance this loan with welcome, it will just get bigger. i made that mistake when i had money problems, and now after four years, my 5k car loan is still in the red to the tune of 3.5k...
I seem to have put a thread in the wrong place, so here goes I will start again.
My son took a loan out with Welcome Finance 14 month ago for £3300.00. When I saw that he will pay back over £11000, on his behalf I asked them for a settlement figure. Despite him having paid over £3000 the figure they want to settle is over £5600.00. I notice that he has got PPI of £1900 which is puzzling because he gets paid if he were to be off sick. This is an unsecured personal loan and on the bottom of the settlement statement page it says ' On receipt of cleared funds, of the amount stated in this letter and within the specified time, we agree to remove our charge on the secured property'.
'Please allow 10 working days for funds clearance, upon which time all the discharge papers will be sent directly to the Land Registry'
This was an unsecured personal loan - Is there anyone that can give some advice please?
I seem to have put a thread in the wrong place, so here goes I will start again.
My son took a loan out with Welcome Finance 14 month ago for £3300.00. When I saw that he will pay back over £11000, on his behalf I asked them for a settlement figure. Despite him having paid over £3000 the figure they want to settle is over £5600.00. I notice that he has got PPI of £1900 which is puzzling because he gets paid if he were to be off sick. This is an unsecured personal loan and on the bottom of the settlement statement page it says ' On receipt of cleared funds, of the amount stated in this letter and within the specified time, we agree to remove our charge on the secured property'.
'Please allow 10 working days for funds clearance, upon which time all the discharge papers will be sent directly to the Land Registry'
This was an unsecured personal loan - Is there anyone that can give some advice please?
First you should check if there is a charge on the property.
You can get a copy of the Title Register which will include any charges from Land Register Online
PUTTING IT IN WRITING & KEEPING COPIES IS A MUST FOR SUCCESS
Hi Thanks for that dw190, just checked and there isn't a charge. It was obviously a standard letter ending that they shouldn't have put on an unsecured loan.
My son says the boxes for PPI were already ticked when he had to sign. He could re-finance this loan cheaper, but I wonder why they have only deducted £700 from the £1900 PPI. He wouldn't have used it anyway as he gets paid if he were to be off. What should he do?
Hi Thanks for that dw190, just checked and there isn't a charge. It was obviously a standard letter ending that they shouldn't have put on an unsecured loan.
My son says the boxes for PPI were already ticked when he had to sign. He could re-finance this loan cheaper, but I wonder why they have only deducted £700 from the £1900 PPI. He wouldn't have used it anyway as he gets paid if he were to be off. What should he do?
If the box was already ticked why did he sign. Was it in a different coloured ink or could it have been ticked after?
Quite a number of people on this site have successfully got refunds of PPI that had been added after or was told they had to have it.
PUTTING IT IN WRITING & KEEPING COPIES IS A MUST FOR SUCCESS
This company needs to be banned. My husband made the mistake of borrowing from them and he is still paying back the sum after 6 years. They are a complete nightmare to deal with and the rates are terrible. Suggest you borrow from the bank, someone reputable, and pay it off that way.
Don't worry, they'll get what's coming to them! They're going down the same road as Yes Car Finance, aren't they? I have a Court hearing in October V. Welcome Finance & Approved Car finance. It's for misrepresentation but really there has been a catalogue of errors. Be Warned......
Woolwich won in court/default removed Barclaycard Settled Halifax settled
Capital 1Settled GE Money Settled
Egg Settled-court action re.default 4th hearing!
Woolwich won in court/default removed Barclaycard Settled Halifax settled
Capital 1Settled GE Money Settled
Egg Settled-court action re.default 4th hearing!
guys thanks god i saw this welcome stuff and i was thinking of going with them! they are terrible. are there any petitions we can sign to get them stopping trading how is it legal?! all small print i guess. i have 2 defaults no CCJs but am struggling to get a loan, anyone suggest anyone good?
I work in the financial sector, and not a day goes by without hearing another Welcome finance horror story.
Please however bad your situation seems or no matter how much pressure their dodgy salesman put on you -
STAY CLEAR OF WELCOME FINANCE!!!!!!!!!!!!!!!!
The only man who sticks closer to you in adversity than a friend is a creditor.
Debt Collection Charges
There is no legal basis for a creditor or a debt collection agency acting on its behalf to claim collection costs from a debtor unless there is an express provision in the original agreement.
Without such provision, collection charges cannot be demanded as a debt due under the agreement.
HI im with welcome sorry to say i took a loan with them for 15.000 ive paid over 10.000 and still have 22.000 to settle now if i go full term i will be paying 42.000 im be hind on ths they want me to start a new one lol
can any one help with this i took the loan with welcome but land registy have it as progressive financial services can they do that my loan is with welcome den
erm... i am desperately in need of extra cash. and was about to take out a loan for maybe £2000. the settlement figure, after a 1/4 is something like £1795 and repayments would be £105 a month for 3 years. Now... i can afford this.
are they ok to deal with if repayments are kept up to date? or should i still steer clear?
Welcome Finance
Originally Posted by Roxy1958
