if anybody could offer me any good advice, I would be very grateful.
A long time ago we took out a secured loan with welcome finance and after a couple of years I lost my job during a recession.
we renegotiated with welcome a new payment profile but they stopped communicating with us and instead sent us several letters saying we were in default.
we stopped hearing after a while and then heard that welcome had dissolved and then out of the blue we got a letter from coast stating that we owe them £21000 and if we don’t pay the debt or make an arrangement with them, they would take measures to re-possess our house.
my partner contacted them to arrange a payment agreement of £250 a month but the woman on the line insisted on taking all our outgoing details and demanded we pay £500 per month.
we explained that this was not possible and the woman said she would come back to us to confirm if they were pre-armed to accept our offer.
last week we received a letter from coast stating that if we did not agree a payment agreement with them, they would instruct solicitors to re-posses our home.
my partner called today and offered £375 per month and a £1000 each April when I receive a small work bonus.
we paid £375 today as a goodwill gesture but still insisted on an outgoings conversation before an agreement is in place.
what I found odd is that we have to contact them and pay 3 payments before they will set up a direct debit for the agreement….this sounds a bit suspicious to me.
can coast force the Sale of our house as I have read different things on the internet tonight stating they can’t because they are not regulated by the FCA….we would greatly appreciate any advice as we are besides ourselves with worry.