Hello, in 2004 we took out a loan with Welcome Finance.

This has now been repaid in full.

Now things are paid off I'm looking into re-claiming fees and charges etc.

On the day we took out the loan, the salesman was in a hurry as it was nearing the end of the month

and insisted the loan was signed off that day due to it being the end of the month.

I realise this was probably for his end of month targets maybe.

My husband was unable to leave his place of work that day

so we tried to make the signing appointment for the next day

however the salesman needed it all signing that day.

In desperation the salesman asked if I could take the paperwork to my husband to sign,

as if we didn't do it that day, we may not have the loan approved.

I took the paperwork to my husband to sign.

I then took the paperwork back to the office and the loan was granted.

As we were consolidating an existing unsecured loan with Welcome I assumed the loan was unsecured, but we found out a month later it was a secured loan.

During the course of the loan we successfully reclaimed the PPI as we were unaware that this had also been added.

This reduced the balance significantly which enabled us to finally repay the loan and get rid of the debt.

I am just wondering whether I would be able to question the validity of the overall loan,

have researched this on the internet but getting lots of conflicting information.

Does anyone out there know if this would be a possibility and if so where do I start?

Thanks for reading!

What outcome would you be looking to obtaining ?

You could question it, but as it is repaid, I doubt there would be any meaningful outcome.

Has the Welcome Finance Charge been removed from the Land Registry records (if it was secured then they would have had their name added) ?

An unsecured loan would have carried a higher interest rate - have you looked to see what interest rate you were charged if the higher rate then perhaps you could query that.

what do you mean by if it was valid?

you've paid itoff the matter isover now.

you say you had PPI on an existing loan that this one consolidated? and you had PPI on the secured loan?

if so I'd bet bottom dollar you didn't get the correct rebate

as the PPI rolled over and got more interest charged on it

link 1 below outlines the process.

and I bet there loads of penalty charges too.

have you sent welcome an SAR to every statement & every bid of paper?

never ever trust any welcome say or do..

dx