Here's another Welcome Finance issue.

We took out a loan in July 2007 for £14k, payable for 168 months (14 yrs) so ending in 2021.

The monthly payments were £273 now risen to £320,

by my calulations that's £45484 minimum to pay back.

Since then I've had late payment fees and interests added on at crazy amounts where i was last quoted by one of their agents that there is still £19000 to pay the debt off.

I have a PPI claim with them going through the FSCS and its come up that the Welcome loan was refinanced by Bright Finance in 2007,

i know nothing about this and have no record of this happening.

I'm still in contact with Welcome and not Bright so how can this be redeemed??

I'm very tempted to stop payments but i belive the loan may be secured on the house.

can you suggest my next moves please as i see Welcome finance are causing a lot of stess and grief to others

Regards

BRIGHT FINANCE LIMITED

(Company Number 04203011)

Notice is hereby given pursuant to Section 98 of the Insolvency Act 1986, that a Meeting of Creditors of the above named company will be held at 93 Queen Street, Sheffield S1 1WF on 10 November 2009 at 10.30 am for the purposes mentioned in Sections 99, 100 and 101 of the said Act.

A list of names and addresses of the Company’s Creditors will be available for inspection between the hours of 10.00am and 4.00pm at The P&A Partnership, 93 Queen Street, Sheffield, S1 1WF on the two business days before the date of the Meeting.

Dated 26 October 2009

By Order of the Board

John Battersby Director

So if Bright Finance has also gone out of business, where do i stand?

You need to contact welcome and ask for a copy of the agreement that varied the original.

I smell another welcome creative accounting again myself.

DX100 knows what i mean

Sar time too

RE WELCOME FINANCE ISSUES,

I seem to be better off than most re Welcome loans.

Successfully reclaimed a chunk of PPI 2 years ago using a Debt management company who have since stopped doing debt management.

Cutting long story short

about 5 months ago I received a letter telling me that that anything I owed to Welcome (according to last figures I had they claimed around £1400) was being written off and infact I was due £848 with interest due to over charging,

however this was being dealt with by some administration company.

3 weeks ago received a form on Welcome stationary for me to sign and return accepting the rebate.

Not received said rebate as yet, however fingers crossed.

I've just received £625 from the FCSC for PPI,

how ever still paying huge amounts of interest on the original loan which I feel are a con.

I refused to pay one months money while this was being looked into

and have found out that £180 interest has been added to the loan.

Surely this is not allowed.

Who could I contact to seek legal advice on this?

did you SAR and CCA?