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  1. Hi I took out a secure loan with welcome finance in 2007 for 27k after making payments for about years I sent in one of them ppi template as I was sold £5k ppi welcome on accepting my compliant reduce the loan to £22k within 3 months increased the loan to £36k saying this was due to interest charges on the account I made several complaints but to no avail I stopped making saying if push comes to shove they would take me to court i moved out of that address renting it out I have not being in contact with them since 2009 in the last 2 year
  2. My friend angel_1 introduced me to this forum and advised i might be able to get some help. Went to court on 25 March 2009 and Judge granted possession to the claimant adding at the end if we come into a lump sum of money or a buyer to purchase the property that would be our saving grace. The eviction date is on 24th April 2009 @ 12.30 and was hand delivered yesterday. Is there a min/max amount of notice that should be given prior to the eviction date by the baliffs as this turnaround seems pretty quick. I am in the process of typing a letter to send to the mortgage company aski
  3. Original unregulated secured loan sold on / transferred to another company. Previously had a dispute with arrears amount in which never fully explained. Arrears amount transferred to new company totally different amount. Disputed again with new company but eventually responded saying it was previous companies issue and not there's. Account in dispute yet arrears management fees being charged even though they cannot prove it. Can they still do this ? Is there any part of the FCA handbook that states the above regarding loans in arrears ? Thanks for looking.
  4. Hi guys, I'm new on this site, so please be gentle... I took out a £85K loan with Firstplus in 2006 for a business, unfortunately, in 2010 our main client stop paying us, and that's when the problems started. FP were great to start with and let me pay reduced payments, but the arrears built up. Eventually, they transferred the loan to a company call Redcastle (still on reduced payments) and then at the start of this years to another company called Elderbridge. I contacted a website called [removed] and the advice one of their recommended advisors gave me some bad a
  5. I took a secured loan out in 2006 for £5,000 secured on my home I believe, in 2008 I lost my job and could no longer pay, I had them knocking my door and I was giving them cash I didn't really have, eventually I stopped paying as I could no longer afford it. I found out in 2010 I had PPI and this was never activated despite me losing my job, (I have never tried to reclaim the PPI) and them being aware of this. I am now looking to sell my house and have heard nothing from Welcome since 2012. Will I still have to pay this amount on sale? Any help would be
  6. Hi Guys I took out a loan in june of this year paid over half of the price for the car with cash......I have sadly lost my job now...but I need the car for getting to and from interviews and ultimately to get to and from work once I gain employment again I have noticed within the terms and conditions that I am not allowed to go bankrupt or seek IVA without losing the car?...I was going to see if Santander would allow a payment holiday giving me time to find a new job and carry on repaying the payments I still have the option of handing the car back and walking away but this woul
  7. Hello Everyone, I have looked at many old posts but I'm still unsure how to proceed. Brief History: 2007 - Secured loan for 7.5K 2009 Secured loan re-write due to charges and late payments 2010 Secured loan re-write due to charges and late payments. Current balance 13K Last payment made in 2010 On the last 2 loan re-writes I was never given any paperwork. Welcome finance cannot find them and admit the loan is unenforceable. They are also relying on the 2007 land registry charge and they claim that this covers all re writes. On the last re-write a welcome co
  8. Hi guys and gals, glad to see so many people getting tremendous help on here! Im hoping someone is able to shed light on my rights & responsibilities regarding the following issue; In July 2014 I booked a function room to host my wedding reception. I paid a 50% non-refundable deposit to secure this date. I then changed this date by telephone and was told that my deposit would be carried forward for the second date rather than the first. In the two years since that booking we have moved and had a change of circumstances. We unfortunately forgot that the remainder need
  9. Hi, I need a bit of advice. I have obtained a secured loan against a property for the purpose of sorting out my credit score and also primarily for home improvements. They have requested balances of all my creditors and a lot of them defaulted in 2010 as the recession knocked me. I sent them these balances and then someone on here mentioned to CCA all the creditors. The loan completed and I ended up with 20k+ worth of cheques and the balance in my account. I phoned them and asked if they will amend the cheques which they agreed to. Then when I wanted to do it they resisted and I had to
  10. Hi everyone, after ignoring the loan that I took out with firstplus since I took it out I now need to take action and get rid. As they have passed on the loan I was able to get a copy of all transactions to date needless to say I want to cry! I took out the secured loan in 2004 for £40K with £8K as PPI so total loan for £48k, having just had the transaction history I have paid £77k to these people and still have £40K owing on the loan! Having read loads of posts previously and knowing how stupid and naive I have been in taking this out, I now need to take action and would appre
  11. Hi I am the executor for my late mother's estate and we are in the process of selling her house. We have hit an obstacle in that there is a secured loan which was paid off in the early '90s but it is still listed as outstanding on the title deeds. The loan was with Cedar Holdings Limited, which is now a dormant company and comes under Black Horse Finance Management. I have called them today and been given a number for their secured legal department in Cardiff, but the number is constantly engaged. We are trying to get proof that the loan has actually been r
  12. Could some expert on here have a look at the attached Secured Loan Agreement and kindly assist in the following questions. APR clearly states 20.10% but Monthly interest is 1.35 %. Surely it should be 16.20% ? If incorrect would this affect the enforceability of the agreement ? Mortgage Indemnity fee charged on a secured loan below £25k - Is that correct ? The loan is secured on my property by way of a charge, not by a mortgage / 2nd mortgage ? Also Welcome have not provided a signed agreement that was dated by them. When would the 7 day cooling off period start from ?
  13. Hi all I'm after some urgent help please. My ex partner and I took out a secured loan with Paragon a few years ago to cover some debts we had. Then we split up and I took over the loan so that I could keep the house. Everything was going fine, even when I lost my job in 2011 as I walked straight into another one so could keep up the monthly repayments. Then in Feb 2012 I lost my job and couldn't make the payments, so I was making token payments each month of £10 or £20 depending on savings against the monthly due of £156. I applied for help from DWP with my
  14. hi, I Would really appreciate some help in a very difficult situation. A little bit of background first. we Have a NRAM mortgage with was originally on repayment which was took out on 2005, subsequently we borrowed and borrowed in the height of borrowing and our mortgage as of today is 167,000. one of the loans which we thought was to run to the term of the mortgage apparently has matured in December 2016 and they want £11000 now. In 2006 my partner suffered 2 heart attacks within 4 months of each other and subsequently went to half pay and we started to fall into arrears on
  15. Hello all, I successfully claimed my PPI back from FirstPlus and am now looking in to the possibility that the entire loan was missold. I recently wrote to them outlining my issues, which were: • The mortgage was not suitable for me. • The adviser did not properly establish my attitude to risk. • I was not advised that there were other options, such as a DMP, that I could have pursued. •Your adviser did not give me examples of the cost of a Capital and Repayment mortgage compared to the lower costs of an Interest Only mortgage. •When remortgaging to consolidate my
  16. Hello all, I have a secured loan with First Plus that I have already won PPI back from. My main complaint has always been the interest rate. The salesman specifically told us that the rate would be kept competitive, "otherwise you will move the loan elsewhere", when we could have moved to a fix of 4% or so the PPI penalty of £8000 and the rule of 70 interest penalty stopped it being practical. We won the PPI when I asked a lawyer to pursue this, who then held onto my paperwork. I put the complaint into the FSO last August after I had forced the lawyer to surrender the paperwork
  17. Hi Guys I live in private rented accommodation (since 2011) but I own 5 properties and would like to raise a small amount of finance against one of my properties (£5k - £10k) that has equity of around £100k. I am a self employed landlord and would appreciate any recommendations for a hassle-free way to raise a small loan. I'm fine with the lender taking out a first charge and I want to be able to repay early without any penalties. I don't want to have to submit accounts for such a small loan because I would be an idiot to risk losing a 2b flat in London that I've owned since 2008 hence
  18. Hi Sorry in advance this is so long winded..... I have a secured loan with Idem. (originally with Picture Loans, but when they went bust it was bought by Idem several years ago) I have permanent 0% interest on the loan, as agreed originally with Picture when i got into financial hardship with them, and after some initial difficulties with Idem (when they tried to add interest back onto the balance when they took it on), this frozen 0% interest is now carried forward also by Idem. They acknowledge it and the balance now reflects it. My balance owed to Idem is approx £40k and
  19. In 2008 I took out a loan with welcome finance for £17,500 after I have already re-paid them over £43,000 in loan repayments. I now want to sell the flat the loan is secured over and was horrified to discover that they say I still owe them almost £16,000. I have no way of understanding how that redemption figure has been calculated and they did not provide a breakdown (they say a letter has been sent but it has never arrived). If I repay them at this figure it means I will have paid them a total of £58,593.56 on a loan of £17,500 (3.3 times the loan). Surely that cannot be fai
  20. Hi can anyone give me some info as to the loan agreement I have uploaded, it is in relation to the Brokers Fee being added on to my loan agreement. I have also uploaded a pdf file doc which states that my loan agreement is unlawful, would appreciate it if anyone can help me. Sorry forgot to add I think section 3.2.2 and 5.1 may apply to me.
  21. Hello I am new here and desperate for some advice. It's complicated but will try and keep it brief but below is a summary. In August 2006 myself and my now ex husband needed to refinance an existing loan with GE Money a broker referred us to Blackhorse and we were offered a secured loan of £40k. We were categorically told that we could only take the loan if we had the PPI as well even though we said the repayments were way to high to afford. We were convinced by the Blackhorse rep that this was our only option like idiots we signed. The loan agreement stat
  22. Hi all, I've been reading many threads online about Welcome finance, and as I have a securered laon with them (we live and learn), I wanted to get a thread up on my secured loan. Took it out around 2008 for £15k, paying around £330 back per month. Approx 2 years ago I started to claim back PPI which in the end came to about £6k which they took off my balance. 3 months ago I received another letter from them saying they have not maintained thier requirements by not sending me statements frequently enough, and they have kindly taken £3k off my balance and reduce
  23. Hi I would like to send a letter to my loan company offering them an increased payment monthly to clear off the arrears on my account. I have completed a budget sheet and will include this with my letter. Is there a template I can use, or can someone help me with the wording please. I have received default notices and i think the lender is taking legal action and looking to repossess. I want to stop this if possible please. Thanks.
  24. Hello, in 2004 we took out a loan with Welcome Finance. This has now been repaid in full. Now things are paid off I'm looking into re-claiming fees and charges etc. On the day we took out the loan, the salesman was in a hurry as it was nearing the end of the month and insisted the loan was signed off that day due to it being the end of the month. I realise this was probably for his end of month targets maybe. My husband was unable to leave his place of work that day so we tried to make the signing appointment for the next day however the salesman needed it
  25. Are secured loans all bad? I am currently on a DMP with Payplan end date 2020 (dependent on charges & int) and am looking into ways of clearing this quicker. I have posted on the DMP forum and am currently looking into sending out CCA requests but have also been looking into secured loans. If I can borrow a lump sump I can try and offer full and final settlements to my creditors this will reduce the debts and I will have a definate end date. My main issue with secured loans (apart from the obvious being secured on my home) is the interest rate, are there any good companies out
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