Thanks VILKA. 25% of £28000 is £7000. Seems very low but if its true that they're on a mission to collect as much capital as they can within the next 2-3 years then it can't hurt to offer it. when I spoke to them on the phone a month ago they hold me full and final would be £36000 I can only assume that person was numerically challenged since its 8k over!!

I too agree that if the money is loaned then it will need to be paid back. I myself am looking to avoid paying the for the things added on that I did not ask for such as insurances, fees, unfair charges etc. Despite being told to stop paying them, that the agreement is unenforceable, etc. etc. all I really want is to clear the debt and forget that I ever dealt with them. This leads me to my next question; Can anyone give me honest advice on how much I should offer as full and final settlement? After talking to my boss (who's also a good friend) about all my welcome woes she said that the company could lend me the money to clear it based on the fact that I said Welcome were in trouble and will probably take a low offer. I owe 28000 without all the insurances and it is secured. I've made no payment for 4 months thanks to possibly bad advice. Can anyone pit themselves in my shoes and advise?

Perhaps his wireless dongle has bust again. so to speak.

I put an offer last week of £4000. That's 10p for every £1 owed plus the last 3 payments. Of £350 missed. (Total owing is £27000). They wrote back saying that to clear debt with full and final payment would be £36790!! That's 2000 more than I owe including balance, charges, missed payments, and even the missold insurance that I'm claiming!! This lot are insane!

Hi all, In the advice given on thread; "welcome are now officially dead and buried!" That if you have insurances with your loan and not stated that commission has been added rendering the agreement null and void, is there a template letter that can be used to find out if it has? Both Welcome and Direct group are not very willing in giving out this information.

Thanks Steven4064, that's a great deal of help potentially. I just need to prove it!!

Steven4064 How does commission paid on insurance make the agreement null and void? I applied for a sar 6 months ago and despite missold point, there was no mention of commission. I am aware that they probably held that info back but after speaking to Direct group they sent a single bit of paper just showing the usual crappy insurance details.

Companies house state they're a non-trading company formally known as Welcome Finance.

Sorry, I was meant to say Progressive Financial Services not professional Financial Services. I think that's what you call a Freudian slip!!!

If Welcome are counting down the days to their demise then who the hell are Professional Financial Services? This company has just added a default on my credit file! I googled them, called them and they answered as Welcome!! WTF!

At the bottom left of WFS agreements there's a line that says something like "you agree that you have signed this agreement at the branch of welcome finance". Don't know what it means to sign it at home ant post it back as I did though?!

Thankyou for your replies locutus and buzby. I guess I will suffer the loss, put it down to experience and be great full the a debt has been paid without a default on my file. Thanks again.

Hi Anyone ever heard of Close premium finance? I took out car insurance with Express insurance 18 months ago. 2 months in and the DD got returned unpaid. I recieved a phone call no more than a week later and made a card payment to bring my account back up to date. From then on the DD was fine and the car insurance remained in place with out a hitch until i sold the car a few months ago and cancelled the insurance. I have now realised that i have a default on my credit file dating back to that missed DD payment!! Can they do this as i have never signed anything or had any finance directly from Close Premium Finance. Only a car insurance policy with Express Insurance!! Please help.

Please can anyone tell me if this is legal; I have O2 broadband for my laptop. I signed up to the 24 month contract just over a year ago. About 4 months ago they sent a letter saying that the previous months bill of around £20 DD was returned and they needed payment ASAP. We had just had a baby at this time and forgot to call and make a payment (my fault). With they new family extension, busy working O/T etc. i got sidetracked and it fell from my mind. (can i just say at this point, the laptop broke around 5 months ago so the broadband dongle hasnt been used for just as long hense another reason it slipped my mind). The thing is they took, during this month on two seperate dates, £150 (£300 in total). According to my bank statement!! I had no warning/letters about this sudden DD and wondered if they were allowed to do it as its cost me all sorts in charges on missed payments to others with lack of funds! I realise that the debt with O2 was my forgetfulness. Please help experts.

Sorry Iainemc the thread is Welcome finance - misols insurances. Not missol PPI.