How very strange,

this morning i received a full statement from welcome from the day the loan was taken till now and i dont think it was asked for haha.

Its seems to be full of "CAPITALISATION" and alot of "PAYMENT REVERSALS" in may last year?

Can you shed any light on what these are?

I started with a £15k loan in 04 and the balance at the moment is £14400

what a joke.

Having looked into it further on random occasions when a payment had been made

and would come of the balance they would make a payment reversal the same day

and add it back on to the balance along with capitalisation???

Yes the secured loan is not shown on land registry, I just felt harassed at the time and had so much going on but going to get back on the case now i have the time. Will be sending off a SAR tomorrow, Thankyou

Hi MrZ

wouldn't let me reply to message as ive not made enough posts, not been on here for along while will have to have a catch up of your posts, hopefully you have done better than me, in the end we give up just had to much other stuff going on and are just plodding along paying the extortionate amounts was told we didn't really have a case by the solicitor and it would be a waste of money trying !

just shows really, i had no idea there was an automated service they ring me numerous times in the month "just to check" that i will be making the payment at the end of the month then towards the end of the month sometimes numerous times a day to see if i can make it that day, then randomly to try to pressure me to make higher payments. Once i unplugged my phone for 2 days around the 26th and they turned up at our house, bit extreme considering i had not even missed the payment yet. The letter template looks like just the trick thanks

In one way i'm scared to let them know that i am going to dispute it because i know how threatening and harassing they are going to get but on the other hand i have no choice, plus i might start recording there calls and use it back at them im fed up of being bullied. Thanks again for your help

Yes you are right the agreement was never signed or dated by them, not sure on whether i recieved a notice of cancellation rights but i'm sure i was never sent the agreement prior to being sent the one i had to sign.

oh yes good advice will do.

Thanks i have read alot of posts over the last few days and have discovered alot, think i may be addicted hehe, there are some very helpful people here. I will be sending a letter tomorrow requesting the agreement. Thankyou

Thats great help thanks and fingers crossed for me having a case it would mean i didnt have to sell my house, i will look into having my statements not sure whether i have kept them, thanks again

Sorry my mistake the loan is 2004.

MrzZ is your court case for an unenforcable loan?

i don't have access to a scanner so have done my best with the photos.

The agreement says i pay back 316 a month but we are currently paying back 410 a month dues to some arrears.

Its the end of the month when we usually pay and they have already rang 6 times don't know what part of i have no money to pay today they don't understand.

Edit****It says To be able to post links or images your post count must be 10 or greater.

You currently have 2 posts. so i cant post the photobucket link

Thanks for your help

Thanks for the reply, i have a copy of the agreement but can't see much wrong with it to be honest and wouldn't have a clue on how to check if the payments all add up because of the apr etc. Because of the amount we are being forced to pay back each month on the loan there is no way we can afford the money the solicitors want to take on the case, so stuck between a rock and a hard place at the moment

Hi all

We stupidly took a secured loan out with Welcome in 2003,

to cut a long story short it is now we are waiting for a soliciter to see whether it may be unenforceable.

While collecting our paperwork together i noticed a morgage deed form that we were supposed to sign

ands send back to welcome and they were to send it to the HM land registry, this was never signed or sent.

I have now rang the land registry who have confirmed that the loan was never secured against my house.

Does anybody know what the implications of this may be?

can they take me to court for this breach?

Thankyou