Hiya,

So worried about a secured loan I have had with Welcome Finance since 2005 for 17k.

To cut a long story short this loan was paid on time every month right up until about 2012 when I became very ill

and also my salary dropped by 10k per annum due to no longer receiving a bonus at work.

slowly since then I have got into arrears etc and bearing in mind these details my current balance is around 19k.

They are such rip offs.

in between all this I have suffered severe depression which they have only made worse through phone calls etc.

They will not stop the interest at all, I have literally begged them.

I'm now off sick again and receiving 50% pay for the next few months as I've just had a major back operation.

What I'm asking is what can I do to stop them piling the interest on, Take my home etc?

I really cant cope with this worry all the time.

I have a slightly larger loan with Idem from the same period and they are great,

They have permanently stopped the interest and take whatever I offer them each month.

This is also secured.

Can anyone answer my questions at all?

All help appreciated.

Did you take out PPI?

If you were having problems paying then under debt collection guidance, they should exercise forbearance. Sadly this is welcome, and they dont care. i think im right in saying you can challenge them though. Try not to worry as help will be around ASAP.

get an sar off to welcome ASAP

whats the idem debt about?

why are you paying a DCA for a debt?

they are not bailiffs

and have

NO SUCH LEGAL POWERS.

you REALLY need to stay off that phone - WRITING ONLY

put the phone down.

if you have a debt that large from welcome from 2005

and it not really gone down

SOMETHING SMELLS.

prob vastly inflated with PENALTY FEES & all manner of compulsory 'insurances'

inc MIF

ALL CAN BE RCLAIMED.

Thanks, I didn't take out PPI with Welcome.

Did you take out PPI?

 

If you were having problems paying then under debt collection guidance, they should exercise forbearance. Sadly this is welcome, and they dont care. i think im right in saying you can challenge them though. Try not to worry as help will be around ASAP.

SAR them and CCA them. Do nothing more until you receive the replies.

Hiya, I sent off a SAR on 18/08/14 so waiting for that. Not paying a Debt collection agency for any loan, Why do you think I am? The Idem loan is an original loan with Picture who sold it to Idem when I had trouble paying this also. These are secured debts for very old loan consolidations. Biggest mistake I ever made was getting a secured loan.

get an sar off to welcome ASAP

 

 

whats the idem debt about?

 

 

why are you paying a DCA for a debt?

 

 

they are not bailiffs

and have

NO SUCH LEGAL POWERS.

 

 

you REALLY need to stay off that phone - WRITING ONLY

 

 

put the phone down.

 

 

if you have a debt that large from welcome from 2005

and it not really gone down

 

 

SOMETHING SMELLS.

 

 

prob vastly inflated with PENALTY FEES & all manner of compulsory 'insurances'

inc MIF

 

 

ALL CAN BE RCLAIMED.

Idem is a DCA. So you are paying them. Most creditors wouldnt sell off a secured debt, since they could just go to court, and get a charging order or bailiffs. Not to mention the loan was already secured so they could have called it in at any time.

something smells then on that too

start a sep threads for the picture loan please

keep them apart.

picture were as bad as welcome for fleecing people

dx

What is a CCA ?

SAR them and CCA them. Do nothing more until you receive the replies.

I'm not worried about the picture / Idem loan so no need to start a thread, thanks though.

I do have a letter from Webb,

(The loan went from Picture to Webb and now to Idem)

stating that all interest and charges are now stopped.

So that loan is not my main concern at the moment.

something smells then on that too

 

 

start a sep threads for the picture loan please

keep them apart.

 

 

picture were as bad as welcome for fleecing people

 

 

dx

I meant to add that there was never any point in Picture trying to enforce a repossession etc as we were and still are in negative equity.

CCA request

I'm not worried about the picture / Idem loan so no need to start a thread, thanks though.

 

 

I do have a letter from Webb,

(The loan went from Picture to Webb and now to Idem)

stating that all interest and charges are now stopped.

 

 

So that loan is not my main concern at the moment.

urm you need to read on this forum

those three we have discovered several times have ripped people off

the agreement turned out unenforceable

Thanks so much, I'll do that tomorrow.

CCA request

Can anyone help at all?

In particular what do I do if the do not send back the CCA and SAR requests? How do I take this further and if the loan is "Unenforceable" what do I do there? Is there some way I can fight back so to speak?

Can anyone help at all?

 

In particular what do I do if the do not send back the CCA and SAR requests? How do I take this further and if the loan is "Unenforceable" what do I do there? Is there some way I can fight back so to speak?

Have you sent the CCA and SAr?

I have yes, They are due back on 13th Oct (40 days for the SAR and 14 days for the CCA)

Have you sent the CCA and SAr?