Basic Account Holder
Cagger since : Apr 2012
Posts : 3 (0.00 post per day)
Welcome Finance high Interest and PPI
I have taken Unsecured Loan from Welcome finance 3 and half year ago
Loan details are as follows:
Loan Credit amount: £3500
Personal Insurance : £190
Total amount credited to me : £5090 in 2008
Total amount payable: £9600 at the end of 2011
So far I have paid more than £8000 of £9600.
I have realized that the charges and interest rate from welcome finance are beyond my reach to fulfill. As I am pending total sum of £4900 still to pay (considering £8000 already been paid, this loan is costing me > £1300!!)
I have raised PPI claim and awaiting response
I have stopped making payment to Welcome Finance (Considering I have been mis-sold PPI and I woun't need to pay £9600 if I did not have PPI amount and interested added to it).
Recently Welcome Finance has sent me letterstating they are traferring my pending amount to Debt Recovery Agent.
I'm in no position to pay this amount.
I need help, what else I can do now?
Thanks in advance