I work with credit files for a living, and PDL's are now having a significant impact on people's credit histories. Experian has not to date revealed the truth that they are creating poor credit scores, but this is no doubt due to them not wanting to upset the several PDL sharing deals it has with the lenders. You can only imagine what would happen if they were to start informing people that the likes of Wonga etc were damaging them, as they'd lose the contract so they say nothing. I can guarrantee you that I have NEVER seen an excellent CRA score when there is a visible PDL visible in the recent report.

Why not ask Experian to check if the info on yor Credit Expert matches the same info showing on Bureau the lenders software interface to Experian. Double check you have all addresses added back to at least 2005...2008 will give you a less relavent check, and less chance your score will look like a true lender score.

That problem takes 5 seconds to fix (just a single delete button)...ask them on the cancellations line (0800) to do it for you...will clear up immediately provided that you hadn't logged in previously that day...otherwise 24 hrs.

Isn't this the idea that a company puts money into an account (that they also set up for you but don't let you touch), and then record with the CRAs that the money is being transferred back to the company's accounts as a perfect payment record....basically it's a score manipulator. As long as you don't arse it up with missed payments with genuine credit commitmnts, it's a feasable way for credit lepers to get some credibility back.

I wish clueless financial services bods would stop spreading this old wives tale about buildings accumulating debts...how the hell can an address owe money??? Seriously, think about it!

Mines the same three of every account that's been settled or not and one default has been trebled .three lots of same dates three same defaults .it shows iv had sixty odd accounts ???

Credit Expert glitch...usually happens because your profile address has doubled up....it won't show like that on the actual databases tho..give them a call and they'll fix it for you.

Yup. No such thing as blacklisting properties, it can only be a financial assoc. Check yr report, and if theres one there, and if you have no joint commitments disassociate...assocs are not however created via insurance policies, via credit apps, accounts, or joint judgements only.

They can do whatever you signed on the dotted line for...

I'd say you should probably pay your debts back...but such an honest attitude will most likely fall on deaf ears on this forum.

International Richard, sadly these people have ground their axes so much that all they are left with are sticks to hit anyone that dares to suggest they are irresponsible defaulters...

Lol much at iwillneverwork's work.

Working on the phones at Welscum is kind of like an 8-hour non-stop edition of the Jeremy Kyle show.

OP is actually hillarious.

for one reason or another we lost contact with WF (what a shame)

So basically, you skipped on Welcome, ran up a massive arrears bill, probably incurred numerous skip trace charges, letter fees and phone calls, by making yourself unanswerable to your debts, had the charges waived, had your payments lowered, you still didn't pay properly..... and wonder why you have people trying to contact you, your guarantors, and having the boys come to your yard a-knocking for their money??

This is the Nooooooooooz!

TLG are taking on closed branch debts. Possibly being groomed to be the owners of long term debts once WFS winds up.

Compliance may be offering all customers PPI refunds unsolicited very soon, just to annoy the cold calling leech agencies and avoid further FOS fines....and no, nobody is especially bothered about picking up the phone on the PPI team...get to the back of the queue.

Bigwigs still claim that full wind up is still around 18 months off. The just-around-the-corner winding up view expressed on this forum is nothing but wishful thinking...yes the new FD wound up Yes Loans, but RBS still wants that cash rolling in.

I no longer care because I've left. Lolololol. Escape from Jeremy Kyle customer account managment hell! Woo!

It's definitley NOT one of Welcomes subsiduaries. When it a debt gets passed to the Lewis Group, that is definitely still with the Cattles group, and TLG share the same systems with Welcome, and it can be passed back and forth. There is no such connection with MKDP, the loan has irrevokably been disposed of, and shows as a zero balance on all Cattles systems. If it is a part of the Cattles group, then it has been completely hidden from everyone I know, including senior management.

Lol...I don't think it quite works like that. They're in it to make a profit...the 2p:£1 ratio probably goes on the basis that to break even they need to collect in 2% of the entire book they've bought. So the assumption will be that they will want to collect 1:50 of the loans in its entirity to break even...don't forget they will only sell debts that would be too costly to continue persuing, overseas skips..amongst them.

Not to help them out, to buy the debt portfolio. Then we either follow the superb Cattles business model or alternatively hire a civil servant to leave the data disk on a train somewhere. I've got nothing to do with Welcome but I'd chip in :grin:.

If you want to short settle, you're best speaking to the branches...though realistically they tend not accept less than 75% of the total balance....though they have gone lower. You are probably going to get more vigorously persued by MKDP as they ONLY focus on bad debts...best not to let it get that far.

The second would be to sell them to companies that are prepared to buy them, the latter being aware of the problems they are likely to be inheriting. It will be their call as to whether they think they will be able to collect enough money to make a profit on their purchase.

The last lot were sold for 2p per £1....they go to profit if they collect in 2%...

Slowly Welcome is going under. Would be useful to know how many staff and branches are left as well as the size of their loan book.

I'm an recently ex-employee, with plenty of friends still there to keep me updated. I don't hate them, but certainly would never have been dumb enough to take a loan with them. Here's the skinny.

130-150 branches still....the ones who collect the hardest. Another 24-30 months is still being given as the time scales to WFS closure...RBS wants as much money back as it possibly can and is still fully backing their continued and intensified collections operations.

While permenant branch staff are being culled and branches shut, the accounts are being transferred to the CCU in Nottingham....a massive growing operation staffed by a combination of dwindling ex-sales staff, fixed term workers and a never ending supply of agency temps. To give you an idea of the scale, it is nearly three times as big staff-wise than the sales department at it's peak. Big bonus carrots for who collects the most money back, New York trips..the works. While branches have gone, staffing levels for the moment have INCREASED.

Your friendly neighbourhood Lewis Group are are not folding like WFS, and most likely will get sold on complete with a big wodge of the WFS debts that extend far beyond the 2 year timescale, and will be running the accounts for a long while after WFS is gone. New pilot has been launched this week, to take a bigger share of back-end (skips, hardcore non-payers) delinquents, with WFS and TLG for the first time working very closely in terms of staffing. This is to free up the regular staff to intensify front-end (easy to collect) collections for the closed branches.

A they also sold a load of debts to a company called MKDP aka Tradepro a couple of months back. This is a real 3rd party sale, not just a sister company like TLG...if your account is with them WFS staff won't talk to you aside from giving you the number.

Tens of thousands of default notices are going out every month now...and the tolerance level is rapidly decreasing in terms of how many months arrears will trigger one. 3 months arrs on an HP and it's hello Mr Uplift man if you under 1/3s.

The good news for you is that WFS can't even be bothered contesting PPi claims anymore (apart from the thousands of claims from customers who didn't even get it sold to them!)...£500 quid fines per case from the Fuzz...sorry..FOS have made even legitimate PPi sales financially unviable to challenge.

Pip pip...til my next update.