F & F??? and yeah i think i was blindly assuming i owed this money to them. This forum is brilliant. Bit of a eye opener for me i think.

Thanks. Just read a thread about the mysterious decision to remove all welcome loans off peoples credit files too. I wont pay them yet then and i'll keep my token payment going for the time being. Is it possible the debt can be re-added to my credit file once its been removed.

Thanks for reply, i made the offer over the phone. They said the debt would be totally cleared when i paid the amount (£2500) and no i didnt have PPI only 'death cover' i believe. Intially when they said they would stop the interest it was just over the phone. stupidly i nevr got anything in writing.

Hi, I had a welcome finance loan about 5 years ago (£3000) and payed off around £1500. Due to redundancy i was unable to make the repayments and welcome keep adding interest onto the loan even though they said they wouldnt. my loan ended up at £6000+. i wasnt happy with this and for the last 3 years i have been making a £5 per month token payment which welcome have been happily accepting. Recently i have have received a sum of money i decided to try and pay of the loan to clear my credit file of the debt. I have been dealing with Atlas collections and i asked for a reduced sum if i cleared the debt. I offered them £2500 which they accepted but they are still awaiting payment from me while i wait for this sum of money to be put into my account. Recently i have checked my credit file and t he debt is no longer on there and on noodle it says it is 'cleared'. Not sure whether i should pay the £2500 or just carry on with my £5 token payment now as the debt is no longer on my file, or should i try and reduce my offer significantly? Any help will be awesome.

Thanks.. I take it this is a common problem then. Have any of you done this and been successful?

Cheers

What can i do about the amount going up monthly though. The amount now is far more than i ever agreed too and rising by about £6 a day.

your a star, if they dont have agreement does that mean the loan is not valid?

took the second loan out july last year. not got agreement anymore. I've asked for a copy of original but they say i have to pay for it.

no didnt have it as my job was secure, until credit crunch hit the DIY industry. Stupid of me not too but nevermind.

bit of a noob here but how do i do that. cant see any option on here.

hi i'm new to all this so bear with me. I took a loan out with welcome for £2000, i payed off £1900 then i topped my loan up £1000. i've missed the last 10 payment due to redundancy and welcome now say i owe them £5700 and its rising £200 a month. Even if a payed them £210 a month back as per my original agreement, only £15 will get knocked off the loan due to there interest. What should i do?? I've told them to take me to court to stop the interest but they wont.. Why?? Any advise will be great!!

hi i'm new to all this so bear with me. I took a loan out with welcome for £2000, i payed off £1900 then i topped my loan up £1000. i've missed the last 10 payment due to redundancy and welcome now say i owe them £5700 and its rising £200 a month. Even if a payed them £210 a month back as per my original agreement, only £15 will get knocked off the loan due to there interest. What should i do?? I've told them to take me to court to stop the interest but they wont.. Why?? Any advise will be great!!