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.
I pay £50 p/w to WF (I find this much easier and Welcome gave me the option of doing this after I found monthly payments difficult on a previous loan) but my monthly payment is £200 p/m so over a year I pay £2600 whereas if I paid monthly I would pay £2400. I have missed one weekly payment but I did not incur any charges as I was in front. This also means that I will pay the loan off 3 months early over the 4 year term so will I get a reduction in interest accordingly?
Hey Fluffy Viper, subscribing! Am wondering how to go about this. You could be obvious and just ask the question outright - a letter to the branch and see what they say? Kind of put them on the spot to put it in writing that your loan will finish early.
I know my branch are a bunch of lying so n so's, I would prefer to catch them out hehe.
Dipply75
I am in no way a legal advisor and only speak from my own experiences and the helpful advice of those in the same boat!
A letter sounds like good advice! Also do you have PPI on the loan fluffy if so was it in any way mis-sold as they were very bad with my friend in this respect. I believe the interest is all added at the beginning of the loan so the chances of a reduction in interest is unlikely - at least from my dealings with Welcome I'd have to say they are!
I also wouldn't put it past them to just hold on to your overpayment and hope you don't notice at the end of it!
Don't acccept any response just over the phone either - ensure they put it in writing and if they don't continue writing until they do! (like Dipply I also don't trust them!!!)
Also just to check when they agreed the weekly payments did they give you a new contract to sign (if so they may have altered the original terms)?
Hi. No I dont have PPI on this loan but I did on a previous loan which was paid off with this one. I am awaiting a reply from Welcome to my enquiry about a refund for this (I think they have another week). I think I will send a letter to them to clarify the situation with the payments on my current loan. Thanks for the advice. P.S. I have paid weekly since this loan began as I was paying weekly on my previous loan.
Hi Fluffy, wondering how you got on with this....as I have discovered something very interesting in my OH's loan. His is monthly but pays weekly also, we started fighting them and received paperwork that was eye opening!
Dipply75
I am in no way a legal advisor and only speak from my own experiences and the helpful advice of those in the same boat!
Welcome Finance-Weekly payments
accordingly?
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