Hi All,

I would be grateful for any help to work towards reducing my Welcome Finance loan which has been sold to Coast Financial Solutions despite account being in long term dispute.

I do not wish to bore you kind folk with a sob story but think you need a brief history.

I got a car from YES Car Credit when I was a student back in 1998. I purchased a property in 2002 and fell victim to Welcome Finance offer of reducing my costs by taking out a home loan. Since then over 15 years has passed and I have put the loan in dispute many times due to charges, incorrect balance and Payment Protection Products including MIF which I was never made aware of.

Now I am in the progress of claiming back PPI and have tryed to get WFS to agree to a settlement. I am not greedy just want a soloution to the outsanding Welcome account.

The account at present stands at just under 23,000 and has been re-written many times . This is my mistake for giving in to WFS harassment but they stopped interest on balance a while back due to the length of the dispute.

Thus this is were its gets weird . Every time I try to communicate with WFS they pass the account on saying they have sold it but so far the purchaser has been a DCA for example Incasso and Cabot who just hand it back after I reminded them that the account was in dispute.

Now they say with letter that the account has been sold to Coast Finance Solutions who are based abroad but have a PO Box address in Newport.

This is strange because I have offered half the amount as settlement and when you do the maths its a very generous offer. I calculated this by simply deducting miss sold PPI which totals nearly 8,000 and deduction unfair charges.

Anyway can anybody advise

Many THANKS in Advance

Have you sent welcome an sar and gotten all the agreements and statements from day one?

Thisvshould be easy to kill dead

I am just now doing a SAR request.

Over the years WFS have only sent what appears to be reconstructed CCA but I did sign one and the figures are in line with the high interest sub prime agreement.

I have requested also a CCA using the correct method so happy to post them when they arrive which knowing WFS will take some time.

THANK YOU SO MUCH FOR RESPONDING

Dont tell me you did rewrites over the phone and never signed anything ....most times

Welcomes special trick was to forge your sig on each one

Hence the recon agreements...they dont want the FCa et all getting even more evidence of fraud by phone staff

I wish sadly all signed at a WFS office but you may be correct about the signature and the date is not my hand writing on any of their CCA'S.

I even remember walking out of the final office because just wanted there harassment to stop so can not remember signing last agreement but my signature is on it but date is some one else writing.

Welcome have always been allusive with me maybe the agreement is dodgy but I do owe money.

Well scan up anything you have to one mutipage pdf

Read upload

Yes will do, THANK YOU

Thanks for responding and I look forward to conversing about this matter following scanned documents uploads.

Kind Regards

I have also recently had letters advising my account has been sold to coast. A £15k secured loan taken over 15 years in 2007. Any advice on what i can do to help would be great. Dont know what a SAR is or how i go about completing one.

Start a new thread

Of your own please

Hi All,

Nothing yet back from WFS or CFS but both state they are unable to communicate with me by any means in relation to account until mid June.

The CCA request is close to default by both WFS and CFS but thats nothing new as WFS within 12 years were unable to satisfy which is why the account was in dispute and still is.

I have started PPI reclaim on all loans going back to 2001 but no luck yet.

Its early days but I noticed more posts like my one on various forums. It appears they are all either frozen interest accounts or ones with a low payment arrangement.

The whole situation has resulted in some very clever people putting a outsource company called Target Servicing Limited who are regulated by FSA and covered by FSCS with private investment company Coast Financial Solutions who do not appear t be associated with FSCS ect but I could be wrong.

The really weird angle is Target Servicing Limited name Welcome Finance as one of thee clients.

Its quite amusing trying to explain to FSCS that I wish to claim miss sold PPI under there scheme as WFS are in default but account now allegedly owned by CFS who are frointed by Target who are covered also by FSCS compensation scheme.

My case is simple because Will just pay what I owe and I do not think CFS will object. However I advise a everybody who has had there account transferred to CFS to do a CCA request because I smell a rat and its called Welcome.

I think WFS never went away they just created a network of companies starting with Alpha which was dissolved in 2015 in favor of Prime Credit who surprise surprise I think are linked to Coast Financial Solutions who were created this year who will probably use Target as a front to administer who also work for Welcome.

Just to say Target are based in Newport not far from Coast Financial Solutions PO Box.

Please understand I could be wrong so the above is just a theory until proven correct.

Did you sar welcome?

Welcome are dead

All the companies are off shore registered

Nothing to do with welcome

When did you taken the agreements out

Pre or post 2005

Hi

Yes I did SAR Welcome but nothing yet not even an acknowledgement but that is WFS for you they take up to three months just to respond to a email never mind a full SAR request.

Sadly its a waiting game but will update you all when I have some news.

They have 30 days only!!

The loan is pre-2005.

The comment on Welcome being dead I prey you are right but sadly those other companies are based abroad which is a bit concerning however you are quite correct

Post 13

Then nothing to do with the fscs

Why are you even ringing them!!

30 Days would work out first week in July so fingers crossed mainly because I intend reducing the balance by evaluating information such as unfair charges and might even have a pop at the MIF but unsure how that will work out seeing as WFS only ever send a yearly statement not a breakdown of full account.

Like I said its a waiting game. Welcome may be a lot of things but they are not stupid thus will respond in some shape or form to a legal request.

I did try this years ok but they said my information was pending thus unavailable.

Dont issue legal proceedings

Welcome will cough or the underwriters will

As its pre 2005

You will be using the fos cq

If you do this properly youll win easy

If you make stupid mistakes welcome will do you over

At some point we will need to see what to date you have written to welcome and what to date has comeback from them in reply

Ringing Who ?

Although I totally agree calling anybody in these situations is pointless as a paper trail is more productive.

Maybe you mean the FSCS but you have to get a questionnaire sent out as part of the protocol in relation to claim miss sold products under there compensation scheme which WFS are currently covered by so phone call quickest way.

No you dont

Your agreements are pre 2005

Welcome were not regulated till then..

1st mistake.

Have you tipped welcome off in anyway that a ppi reclaim is coming??

mergeI am grateful for any assistance and happy to post various documents which I fully understand may hold the key to bringing this mess to a swift conclusion.

However please also understand I wish to pay what I owe and if WFS had been more professional I would have achieved this years ago.

I do believe that their avoidance of me may be something to do with the Pre-2005 agreement but I am not skilled enough to spot any such flaws.

THANK YOU

At this stage no just got FSCS questionnaire but also have done some reading concerning other people claiming PPI as quite aware that there are regulation issues concerning older WFS agreements. ir

Sadly I am not up to date with consumer law but I am learning however FSCS said I have to approach Welcome to make initial complain which I have not done yet.

Thank You for advise

I think I understand you are saying pre-2005 is not covered by FSCS ? which is why they told me to contact welcome but understand the claim will be directed to a underwriter as WFS did not hold the insurances just sold them.

Apologies for my lack of knowledge may I need to get advise before nearly making such a mistake.

Could you please advise me on how to proceed with PPI reclaim.

Many Thanks

Await the sar is the no.1. Thing

I will indeed await the SAR

I will update you when it arrives.

Again many thanks to all the kind folks on this forum I have found your assistance most helpful and reassuring.

Good Night