Hi all,

in 2008 I took out a secured loan of over £10k from Welcome and within a few years struggled to make the payments. The loan went to Cabot on Welcome's demise and then to Ascent. 2 years ago, instead of consulting this site(!), I started paying Ascent less than £100 a month (don't want to be specific, in case they're on here) and this has brought the amount down.

The balance is still over £10k and there is a charge on my property.

Having spoken to Ascent, I have asked for a settlement figure and they want and income/expenditure thing (not something I trust, it's just to see what they can squeeze out of you I think) before giving me one. I have offered around £4k.

My main priority is to get the second charge removed. And hopefully for a substantial discount or nothing.

Any advice from here please?!?

I understand now that I shouldn't have paid them anything but as there is still a charge on my property I felt I had to.

It is very rare for a creditor to accept a partial settlement on a secured loan. Most secured lenders who have got a charge on your house will usually reject an offer.

Regards

Andy

ever sent welcome and sar to see if you've been spoofed out of PPI life ins unnecessary building/contents ins, MIF etc etc

and was this your ONLY loan with welcome?

these could be worth £1000's in reclaiming.

dx

Ok Andy we'll see what they say.

I haven't Dx, I don't believe I had ppi with them but it's something I'll look into. Would you point me in the right direction for the correct address?

Ok I've found MIF.

Don't know is the answer.

I'll get on to a SAR and start claiming if necessary.

Do I just send to the address on their website?

welcome yes

Welcome have sent me the files and accounts from my SAR and it reveals no PPI, no MIF, but does contain many fees and confirms they have a second charge on the property.

Can I reclaim fees (plus interest)?

Can I request they remove the charge?

The typical fees are default sum fee interest, unpaid d/d, outside calls, skip trace, letters, telephone calls, acceptance fee for the loan and broker fees.

What would be your advice to do from here?

Thank you.

yes

no

default sun int - no

acceptance - no

broker - no

the rest are fair game yes

Ok thanks DX I'll get on it and update you.

open

Thanks dx. What is my plan of action from here as 'Ascent Legal' are now the owners of this debt and I still have the property. I feel if I was to stop paying they could enforce the charge.

how did a charge get put on your present property when it the loan was taken out against your old one that got repo'd and you've since moved?

Sorry I should have been more clear. 

I also own an apartment - the welcome loan was financed against that. This was in 2008. I still own it and rent it out.

With the demise of welcome and my inability to afford the monthly payment it was taken over by Ascent. 

so back ful circle to how much of this charge is unlawful fees etc.

dx

As before, I've noticed that there are fees for the following:

default sum fee interest, unpaid d/d, outside calls, skip trace, letters, telephone calls, acceptance fee for the loan and broker fees

I've written to ask that they are refunded.

If they are (or not), how do I actually get rid of this? Do I have no alternative but to re-mortgage and absorb it within that? 

Thanks for your help. Donation made. 

did you do a spreadsheet and which one?

if not you are entitled to int at the rate the loan attracted.

how much is outstanding?

but i feel it might result in you paying it off 

welcome loans are years dead now you might not see ascent being forthcoming but it does put the balance in serious dispute.

are you looking to sell, why the rush to pay it off.

lots of these got sold to Coast

you might find it interesting to use our search top right and read up

it's interesting this was sold? to cabot, then ascent, thats rare it goes to a dca and they re sell it, smacks of something wrong

esp if the charge was not transferred in name from welcome thru cabot then now shows acsent,

Sorry, dx, which spreadsheet do you mean?

I'm just thinking that I need to remove the charge at some point so taking action now. I plan to move abroad in 3 years so that's my deadline. I don't think it was sold to coast.

Charge still shows as owned by Welcome on land registry.

cisheet

put every charge in indevidually on the date it was levied

put the agreement int rate in cell d15

Latest Spreadsheets - PPI Claims and Charges Claims - Dec 2011 - Payment Protection Insurance (PPI) - Consumer Action Group

you say this charge is still in welcomes name on your online deeds?

dx

Excellent, will do. Yes reads Welcome still. Is this significant?

you'd have to read a few welcome threads 

poss the Cruz thread but its a long read

many of these welcome charges were removed when they went under and indeed before then and should not now be registered nor being collected. for some reason it never happened

we've certainly seen various ones eventually turning out to be for want of a better word 'bogus' and various UK DCA's, UK debt buyers, and even foreign buyers claiming them and wanting money when they should not get anything.

Wow. I'd like to know why. How do I get it removed in that case?