Thread: why would welcome finance pass my debt to bright finance!

got text and phone call from bright finance saying welcome finance have been in touch with them as they can offer me a better deal for the remainder of my finance.

i just dont understand why welcome would do this when they are getting regular payments from me, seems strange to give your business away.

anyone shed any light on this as i am confused.

p.s spoke to bright finance and they are re-quotiing me on remaining finance i have.

Probably to do with Cattles application for a banking licence, making sure they have sufficient capital to be successful.
The application has been withdrawn, as the FSA have indicated they wouldn't be successful in the current financial climate. Still, they are trying to build up a bigger reserve for when the time comes.

ok thaks for you replies

OH got the same call today - who are bright finance, never heard of them.

After a recent trawl through our credit file it seems Bright Finance have passed us to "Black Horse" who did a credit search for a secured loan on the same day Bright Finance said they could offer a better deal - something tells me they are some kind of broker and have sent our details to anyone and everyone.

We are quite annoyed as we did not give them any permission to do this.

HH