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  1. I would be grateful for any advice or if anyone can point me in the right direction. I have a loan with Welcome finance, secured. Lost my family busines of 20 years in 2009 and things have been a real struggle ever since and im certainly not out the woods. All creditors have been kind and helpful apart from Welcome who have bullied me and really been nasty. After a week of harrasment from them, I folded and ended up on antidpressents. Welcome told me i could not go bankrupt. (I now know different). I got a copy of my loan agreement to find its almost comp
  2. Hello All I have a Welcome Finance CCA which for one reason or another has been bought by MKRR. I CCA'd them last September, and they have sent me a copy of the front page of the agreement with no T&Cs, but the thing that is puzzling me is the figures stated on the agreement. They are as follows: Total amount of credit = 2945.43 Payment over 65 months APR = 20.80% AIR = 19.6% Total charge for credit = 1805.93 Monthly Payment = 73.07 Made up of Acceptance fee = 75.00 Interest Charge = 1728.93 All well and good, and I am no accountant, but I have work this out
  3. I have a historic debt with Welcome Finance which, after a prolonged period of time, has gotten back in touch with me. Having read a few posts on this site, I think there may be a few options I can look into with regard to possibly reducing the balance on this debt. There is quite a long story here, so let me explain as best I can.... 18 Aug 2001: Purchased 2nd hand car from Direct Car Finance. Finance provided by Welcome Finance. No PPI. Shortfall Insurance also taken out for full loan term. Breakdown and recovery insurances also taken out, not
  4. I am so angry. bank holiday ruined by Welcome. My husband took a loan out with welcome in 2006, we borrowed a little more in 2008, however we paid this off about 3 or 4 months later, in full when we sold our car. We have recieved letters from IND and welcome saying they are chasing the money, following the letters i wrote to them asking why they hadnt marked an account as settled from 2008! We also wrote to them a year ago about PPI and they said he had none, there letters now say we did. They also said that there is copy agreeemnts and letters that we have apparantly sent in th
  5. enough talking, phoning, writing, speaking to fscs, speaking to fca, speaking to fos, writing to welcome, writing again to welcome, writing to insurance... enough we get nothing back. financial refunds are made back to welcome and the calculations are far from the real accountable data. they are outside the interest of financial law. while we continue to fill there pockets. its wrong. end off. i am forced to begin a public publicity appeal and register regarding all welcome finance abuse.. they must be hundreds of thousands of people like me fund
  6. Hi, I'm about to make a claim for missold PPI on a Welcome Finance loan sold that was sold to MKDP in 2010, it is definitely statute barred ( sure of that). I wanted to know if FSCS rules are different that with normal lenders, if I put the claim in will they be able to offset the refund against the debt? As far as I'm aware, a company can't offset a PPI refund against a debt that has been sold to an external DCA (in this case MKDP). I would be grateful for any help with this. Thanks in advance.
  7. I took a £20k secured loan out about 1 and a half to 2 years ago now and been paying the extortiante rates back since. Never missed a payment till now. Ive hit financial difficulties and need some help. I believe my CCA in incorrect and am considering putting it into dispute also. I sent of the subject access request and the CCA request along with 2 seperate postal orders. One for £10 and one for £1. I received a letter today saying thanks for the requests but please send a cheque for for £1 and the £10 !! My postal orders were no where to be seen or even mentioned in the l
  8. Please can anyone offer me some advice, I owe 12K to welcome and I am paying them back at a reduced rate, however everytime I get a phonecall off them they ask for date of birth, so I give it to them and some will say that it is fine and other people will say that we have a different date of birth for you, but then go one to talk about my account. Am I right in saying that this is against DPA as if I give a different DOB to what they have on their records they should not continue with the conversation? Also how far back can you go to reclaim PPI I believe I too
  9. Hello Everyone, I am a new user and I am not sure how to use forums I have been facing Court proceedings started by Hegarty LLP against me as a result of a loan taken from Welcome Finance. My story is very similar to the others, however it is somehow different and I still hope I could defend it. I took a loan from Welcome Finance of £2500 in September 2007. I was forced to take a PPI as it was required to have a loan granted I was told. What surprised me was the fact the PPI for the entire period of loan was added at once to the loan sum and the interest at the same silly r
  10. Hi In 2006, I took out a secured loan with Welcome finance for £18,000. I'm now in my 7th year of paying them and I have asked for a statement several times and received nothing. I informed them years back that I have moved due to the property that I used to secure the loan being repossessed. The London Mortgage company has since been dissolved but I never really made payments to them. I have been reading several of your posts and came to the conclusion to do a SAR which I have done and recently received information back after 38 days. It turns out they are saying I still have £16000
  11. Hi guys some advice please. I failed to pay for a welcome finance agreement that i took out in 2008. it has this month been sold onto cabot who have spoken to me on the phone to agree a full and final settlement figure. they have said i can pay a partial figure that will clear it to zero but will show on my credit file partial payment. I asked them for settled or satisfied but they said they cant do that as new laws in. I looked on all 3 credit files this week to see what welcome had put and its down as settled now after all late payments.all say same thing. So he
  12. I am in the process of sending a complaint to the financial ombudsman however have read online that it can take 12-18 months for them to deal with complaints and to be honest this has been going on for years so I just want it sorted...... Basically although I know long winded this is the issue at the moment: I originally took a loan out with welcome finance on the 22/2/2007 for £2000 the agreed repayment rate was £105.97 a month for 36months. I made the following payments to this account: £105.97 - 31/03/2007 £105.97 - 01/05/2007 £105.97 - 01/06/2007 £105.97
  13. Hello everyone. Im hoping someone might be able to point me in the right direction as I am panicking and Losing sleep over the below. This is really affecting my work and my personal relationships and I really don't know what to do. To summerise, on the 4th July, I received a letter from IND (Dated 17th June) titled LAST LETTER BEFORE LEGAL PROCEEDINGS. This was the first letter I have ever received from them. The letter stated that I have an outstanding debt with Welcome Finance of £3845 and I have until the 1st July to respond before they refer this to court. It would appear that they
  14. I've been reading around the threads for over an hour now and I'm going dizzy so thought I'd just ask a simple question instead I had 2 possibly 3 loans with welcome around the 2001-2003 period and I'm trying to figure out if it's worth trying to claim PPI. I am very clear that at the time I was told quite emphatically that I could not have the loans without the PPI, was given no information on alternatives available etc. I noticed from Welcome website that they are closed for new loans and that the FSCS had put them into default and that "Customers of Welcome Financial Services Limit
  15. As my case is subject to on-going proceedings, I can not go into specific detail as to why I am making this request. It is suffice to say, that it is being made to use against them. If you have made a complaint to Welcome for mis-sold PPI and they rejected your claim on the basis that the PPI or loan was sold to you by a broker, could you please send me a copy of the rejection letter as a matter of urgency? If you have a copy of the rejection letter, you can send it to my inbox here or post it to this thread in response. Please remove your personal details before uploading it to this
  16. Hi there, I am very new to this site so apologies if I do things slightly incorrect .... please advise if I do and I will do my best to correct myself ... I have been going around in circles with Welcome Finance and the FCSC for the past 18 months trying to reclaim PPI. My husband and I took out a loan for £10,000 in October 2008 for 96 months (if that helps) with an added PPI amount £2311.65. The PPI was calculated into my loan and I have been paying it on top of my loan since it was taken out. There was also a Broker Fee and an Acceptance Fee on top; all of which is outlined
  17. Hi Everyone I was hoping to receive some advice on a very difficult situation I have found myself in. I suppose I will start at the beginning to give you all the details. I took out an initial loan with Welcome Finance back in 2006 for £1500 which included PPI. I then received a phonecall a year later after clearing half of it asking me if I would like a further loan of money, I agreed and so the initial loan was repaid and I had a new loan of £3000 without PPI. In 2008 I stopped paying this loan due for a number of reason and effectively cut off cont
  18. Hello there, Would be really grateful if anyone could offer some advice please regarding Welcome Finance. I Voluntary Terminated and agreement for vehicle finance back in February 2009, all above board paid more than 50%, they collected the car etc etc. They claimed i still owed £465.83 and they had "reduced" the agreement down to reflect this value. Since then i have had various battles with them regarding the outstanding balance they claim i owe which is for the balance on the Gap insurance and amounts charged for damaged on the car which was already there when i bought
  19. Hello, I'm new to forum so apologies if posting in wrong place. Debt free wannabe just getting his head out of the sand. I've recently recieved my CRA reports and have the mess below caused by myself to clean up. My Problem £2000 loan taken out 2007 - I then lost job the same week and Ive never made a single payment Welcome Finance have been reporting 6 payments late for 5 years debt showing currently at £3930 however on CRA file it states it was £8332 6 months ago? Loan date 04/10/07 £183x25 I have no paperwork for the above only the info in CRA reports. Ive not recei
  20. Hello all, What an amazing forum! It is a bit of a maze for a new user to navigate to the correct area so I hope I am asking the correct question in the correct place. I have a number of creditors, both secured and unsecured. I have defaults across the board after running into financial difficulties over the past couple of years. I seem to have turned a corner financially now and I am keen to clean up my credit rating; using creditexpert, I have a 540 score which is 'very poor'. I have a couple of questions related to getting a better credit score... 1. I have
  21. Hello, I am new here, and this is the second time that I am writing this...because yes I did accidentally delete all my writing when trying to copy it . So, here is my story. - The Past - I took out an unsecured loan for £2000 with Welcome Finance in April 2008, with PPI. Worst mistake of my life. The contract said that I owed £3640 with payments of £164 per month for 37 months. In October 2008, I went to Welcome Finances office and asked to have the PPI cancelled. They gave me a new credit agreement contract to sign, I signed it. I now realise that the new contract stat
  22. I need a little help with welcome i missed a payment due to a pay cut at work i phone welcome and told them what was happening and that over the past 5 years i never missed a payment but was starting to find it hard to keep up my payments i missed 2 payments but did pay a lower amount for 1 of them since then ive had welcoem phoning me every day after money that i dont have. I spoke to my account manager yesterday and said i might be able to make a payment but have been told by her my account is now going to be increased by 10k all because of this and all she could tell me was we all a large
  23. Good Morning all, First things first, a bit of history. July 2005 - introduced to Welcome Finance, got a secured loan for £7500 over 120 months paying £178.10 a month (consisting of £156.05 for the credit / £4.89 for the acceptance fee and £17.16 per month for Mortgage Indmnity Fee per month) All went well and in the following year we looked at remortgaging the house - got that sorted and obviously had to pay off the finance to Welcome. At this point they gave us the old " why not pay this and have a bit more on top for a few quid extra" line and like suckers we sad hell yeah.
  24. Hi all, I' new here but I was wondering if anyone could help me with an old welcome finance debt? In november 2007 due to being made redundant I missed a payment to welcome finance. The loan was for a car and who we spoke to on the phone said I needed to make payments or they would take the car. I struggled but was unable to keep up with the payments and told them on several occasions, both over the phone and in writing that due to financial hardship they would have to take the car. I didn't hear from them again and the car has been sat in a garage for the last 5 years as I didn't know if
  25. Dear All, I have taken Unsecured Loan from Welcome finance 3 and half year ago Loan details are as follows: Loan Credit amount: £3500 PPI: £1400 Personal Insurance : £190 Total amount credited to me : £5090 in 2008 Total amount payable: £9600 at the end of 2011 So far I have paid more than £8000 of £9600. I have realized that the charges and interest rate from welcome finance are beyond my reach to fulfill. As I am pending total sum of £4900 still to pay (considering £8000 already been paid, this loan is costing me > £1300!!) Current status: I have raised PPI
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