Welcome secured Loan ... Help..

[reallypeed]

Hello everyone, i am new to this site. The info on here is fantastic, nice to know there are decent people out there, after dealing with Welcome, you'll understand what I mean...

I had a secured loan approx 2 yrs ago, my home was repossessed and the loan was paid in full. I have been looking into my finances and realised that Welcome have charged me over £16000 in interest and charges !!! I ended up paying back £42000 on a £21000 loan ...

GOBSMACKED... can i claim interest charges back ? Not just defaults ?

Hope someone can help me, I'm now in temporary council accommodation with three kiddies, was a PA, worked all my life and now I've hit rock bottom and the worst of it is that I cant AFFORD to work... can't belive it... my rent if I were to work would be £1300 alone.. I couldnt get that kind of salary each month... so if I could get my interest back from Welcome I could afford to work and find my own home and start all over again... any ideas, thanks for taking the time to read this thread...

[mrsfoot]

Hello reallypeed and welcome to the start of you new life!

You have made the best start coming here. We can help. There are a few things you must remember though so a quick checklist for you:

• Read the faqs http://www.consumeractiongroup.c o.uk/forum/faq.php

• Print them out for future reference, believe me you will need them.

• Start a thread in the relevant bank forum. You will find the banks sections by following this link
  http://www.consumeractiongroup.c o.uk/forum/other-institutions/

• Read the threads in your banks forum, this will give you an ideal insight into what you are taking on.

A few things to remember:

• This is your money, it took years for the banks to collect it, so don’t be disheartened to find it takes more than a few weeks to get it back!

• Ask any questions you feel you need, but please remember someone may have already asked the question, so try searching for the answer first.

• Its your money, your responsibility, your job to get it refunded. We are here to support, guide and assist.

• If you are approached by anyone offering to do this for a fee, tell them NO and report them to admin / mod. You can do it, we all had to start somewhere and have been successful. You don’t need to lose up to half your money getting it back and you don’t need to have a degree in law!!

A few things you might want to consider:

• This site is run by good people who offer their time and advice freely, however it costs them money to run it. One way you can help is by getting a CAG email address. Find out more here: http://www.consumeractiongroup.c o.uk/buy_email.php

• You are a newbie, and as you are reading this, chances are another newbie is signing up. So give a little back and support others when you feel ready to. You can do this by keeping your thread updated so others can read, and maybe offering advice to those who are at the stage you have already completed

• If you would like to donate to the site once you have been successful, then it would be extremely appreciated, especially by those who we haven’t helped yet….because by donating you are helping to keep the site free.

• Use our links to go to other sites; we currently have links to amazon, u-switch and a general search engine. This really helps.

There are many claimants for Welcome, as you will see by following the link above. The interest is not usually reclaimable, however any interest added ontop of the charges is.
You need to request the statements from your account. Do this after you have read and fully understand the process...as i said before it is not a get rich quick scheme, it takes time and energy, but you can do it i promise.
As a side, are you on the correct benefits...is it paid into a bank account....do you have charges on that account....if so then you can reclaim those too and stop them taking money from your benefits.

Hope this helps