Welcome Finance Advice

[weescotschick]

Hey everyone hope you can give me some advice. Well I have been with Welcome finance for 4 years now and have always been good on repaying them and only ever missed one or 2 payments but always made sure they were always paid before the next payment date.

 

I didnt not pay August payment of £328 and spoke with and sent a letter to offer £82 per week which they agreed to. Anyway I have paid the first £82 and today only paid £40 they told me that they were getting concerned I wasnt going to clear the £328 payment arrears by 30th of this month and if not they would need to start proceedings????? Whatever that may be but Ive only missed one payment and paying it back in small amounts. I have reassured them by 30th September this will be cleared and they were like ok then and they looked forward toa payment next week! I wont be paying the £82 but will be able to pay the £40. Surely this will be acceptable to them and would stop any proceedings if they are recieving some repayment????

 

And the best part of it was the week previous before End of August they called me to say " since you are such a good paying customer we are offering you a top up" which ofcourse I refused as my repayments are high enought as it is!!!

 

My questions is am I safe just paying up the weekly payments and having it cleared by 30th september and paying the next one then also. Or can they still start proceeding even when Im still making payments???

 

Thanks any advice would be appreciated.

[hedgehog0045]

Is this a secured loan?

[weescotschick]

Hiya sorry forgot to mention yeh its a secured loan!

[weescotschick]

Anyone able to advise??

 

Any advice would be appreciated>

 

thanks

 

x

[weescotschick]

Hi everyone, I have a secured loan with welcome finance and have been up to date with my payments every month and currently up to date just now. In november I had telephoned them to ask about lowering my repayments as I am going on Maternity leave at work in February. They worked it out at the time and it went from 328 to 265 to which I was ok with but they themselves that they should have been able to lower it more but because the loan was not a year old yet (but 3rd loan Ive had with them) so they told me to leave it till February and that what they would do is let me pay november and gave me a holiday in December so didnt have to pay was happy with this. Anyway they called in January and asked if payment will be made this month to which I agreed providing I got my wages on time (work been having problems paying us on time, think they could be on verge of paying off). My question is, they are due to take £328 on the 29th January from my Card. But I wont have this amount in my account, but I will have £248 avaliable to pay them on the 3rd February and can pay the remaining £82.00 on 23rd February. Do you think I should send them a letter next week stating this along with a cheque for the amount of £248 or card details?? Do you think they would be ok with this??

 

Any advice would be apprecaited

 

Thanks

[elliesnan]

bump

[weescotschick]

Hi everyone with regards to my earlier post about welcome (im up to date with payments, they gave me a holiday in December and next payment not due till 30th) anyway this morning I have received a letter notice of arrears they are saying I am 2 months in arrears but havent stated which two months as far as im concerned im up to date and even they said im up to date earlier in January. Any ideas why they have sent this letter??

 

They says if i want to know which months ive failed to pay to request the information but i dont see why as I know im up to date I have records of all payments made.

 

Any advice be appreciated.

[jansus]

Funnily enough I am dealing with a similar case on another Forum with Welcome. they also have made all payments but are being told they are in arrears and are being charged £50.00 per month!

 

I would say the firts thing is to keep all dealings in writing and start a file now because this may affect your credit rating and when you prove you are not in arrears you will need that updated.

 

Firstly I would write a letter clearly disputing the fact you are in arrears.

 

Ask them for a written explanation of their claim that you are.

 

that is a letter with the Mp due - the MP recieved and the resulting arrears - i.e a total breakdown since your account first went into arrears.

 

considering they would be relying on this info in court if it ever got that farthey should be able to produce this immediately .

 

 

You need all the months since they say this first happened in case for example there was a late payment and you Overpaid in a subsequennt month.

 

Make it clear you do not just want a statement - you need a BREAKDOWN of the arrears - plus a sperate statement of any charges applied to your account for the disputed arrears.(the arrears cherges should not affect the maount of arrears as they are added to the capital.

 

Remind them of the holiday payment that they themselves agreed - is this being added on to the end of the mortgage ?

[weescotschick]

Hi everyone, hope someone can help.

 

As you will prob be aware from previous posts from me! I have a secured loan with Welcome finance, Back in August missed one payment but had this cleared by September and been up to date since, apart from December when they offered me a holiday from paying that month. Anyway Januarys payment was due today. On Tuesday I called them to advice my wages wouldnt be clear till Wednesday (next week) as it was a cheque they were giving me yesterday. But I can have the funds for my welcome payment on Monday next week but they refused this and insisted I pay the £328 monthly payment today and if not they would start recovery proceedings. They asked if i had a cheque book which I did, they says they could take a cheque as that would show as payment received today to my account. But my account is overdrawn so it wont clear. But I know myself I can call them Monday and pay by card.

 

Will they take this payment??I dont understand why they couldnt wait till Monday to be honest as the cheques are not always guaranteed to clear???

 

Also another thing we noticed on the Tuesday when I called Id received a letter from them saying I was in arrears of two months, One back in May (so they say) and the other was this month (not technically missed, one paid that would clear) so they say Im in arrears of one month back in May then if that was the case why didnt they contact me at the time with numerous calls and letters???? Thats why I myself dont think I did miss the payment Im unsure now.

 

Im now thinking that If i do call up to pay the £328 supposed to be for this month they will use that for the May arrears, then the cheque will not clear and then they will call to say January payment has been missed. Bearing in mind on Tuesday i says oh so i need to try pay this missed payment for may there reply, oh dont worry about that one, we will work that out later WTF???? They are stressing that the Jan was going to be only one more working day later??? Im furious I really shouldnt have written the cheque but was only way I could get them off my back as they threathened Recovery Procedure today if i didnt and they came to my door to collect the cheque. My partner doesnt know about that but he knows they demanded and threathened me, he wanted to call them but I wouldnt give him the number Because I knew hed kick off as he sees that them threathening me at 7 months pregnant and getting me stressed out for one payment is unacceptable.

 

Unsure what to do?? Should I just call them monday pay the £328 for January telling them that I dont think the cheque will have funds in the account on time?????

 

Sorry for the long post.

 

Advoice would be greatly apprecateid.

[sickntired]

I had this problem yesterday, I think I spoke to you on my thread. Call Welcome and lodge a complaint, this is what I did. They called me back today and are investigating the threatening behaviour, which included fraud and repossession, she was surprised at the fraud part and said that that was a new one! and couldn't understand why they wouldn't accept next week for payment. It's got to be worth a try.

[Ell-enn]

Today is the last banking day of the month. These idiots go into a frenzy last week of the month as they have targets to meet for payments. they cannot just start repossession proceedings in a few days - so if you couldn't pay them till monday you should have made them wait.

 

If you need help with a letter of complaint - I know just the guy to send it to - Chief Executive at Cattles (their parent company).

 

Ell-enn

[weescotschick]

Hi everyone, well Ive been with Welcome now for almost 5 years and we have agreed to lower my repayments due to me going on maternity leave. Anyway last month they started the new repayment amount of £270 a month and told me that in March we'd have to sign the forms but pay the monthly payment first. That is fine its due before the end of march. So today I called them to let them know Id pay £270 tomorrow and call in to there office to sign my part of the form and they asked is hubby coming in tomorrow also, he isnt as he drives all day and is out of town all week so I told her no, their reply was well youll have to pay your full montly payment of £328 if he doesnt come in to sign. I then asked cant I collect the forms tomorrow when I am in and get him to sign them and return, their reply no its company policy to have you both come in to the office, but in the past this has not happened always. Ive had them come to my house before to sign forms and I told her this. She then replied well I would have to arrange times etc to come out to your house, I then told her well He is off a week on tuesday 31st March and can come in to your offices then and she was like no it has to be done this week! The impression I got last month was it was to be signed by the end of March so shouldnt be an ok day for him to go in???

 

They told me that when I call back tomorrow to pay £270 they will discuss it then.

 

I find it funny how they have no problem whatsoever about coming to your house when they want money!!!! As they have been here twice to uplift cheques from us !!!!!

 

So my question is can they come to house to get him to sign and also wouldnt you agree the forms are to be signed by end of month so that would mean yeh he can go in on the 31st!!!

 

Welcome Finanace I hate them and how pushy they are!!!! They should be greatful they are getting paid and the forms is only for a signature!! Any other finance company can sent forms in the post!! I even offered to hand return the forms!!!

 

Sorry to ramble on

 

Thanks Michelle

[XXXN3O]

Hi,

 

I have only joined today with a similar problem and have yet to get a reply etc.

 

I wanted to ask you, are welcome asking you to sign a form saying that you will maintain payments of such an amount towards arrears. Ie, I agree to pay 200 per month until 6th september or similar?

 

I took out a join secured loan and only recently found out that somehow the account is in a single name on a joint property?

 

I am now being asked to come into the branch to sign some documents all of a sudden.

 

Shady bunch as I coming to learn.

[postggj]

People Remember The Golden Rule

 

Welcome Only Try To Get You To Sign New Agreements If The Originals Are Lousy

 

Sign Nothing Until You Have The Originals Checked Out,

Most Important If They Are Old Agreements

[miziwizzi]

People Remember The Golden Rule

 

Welcome Only Try To Get You To Sign New Agreements If The Originals Are Lousy

 

Sign Nothing Until You Have The Originals Checked Out,

Most Important If They Are Old Agreements

 

 

 

I agree here,

 

If I were you guys I would not be signing any new forms, others who have done so in the past have had dreadfull stories to tell, you need to search and read some of these.

[weescotschick]

The reason Ive to sign forms is they have rewritten the loan by taking off the payment protection, I checked the documents today (copies) and it doesnt include payment protection as it has done in the past. Ive not signed anything yet as they have now said they debit card payment they took from my card has got lost on their system and is not showing as paid on my account. They said the system crashed as they were processing the payment. But thankfully Ive got proof from the Bank that the debit transaction is by Welcome Finance so they cant say I havent paid. But because its not showing on my account they cant print off forms to sign.

[weescotschick]

Today i received a phone call from some company (Cant remember their name) telling me that with my welcome finance loan that Ive had since 2003/4 i would have been misold the ppi in the loan. I told the I just assumed it was a basic thing that if you took the loan out with them that was included but they are telling me I could claim i all back. Can someone please explain to me how this can be done as Im a little unsure. In my earlier reply today in my other post I have explained ive jsut rewritten my loan with them that excludes the PPI as we had to reduce the repayments would even though ive done this could I still claim back ???

 

Any advice would be apprecaite as Im so unsure where I stand and how to go about things.

 

Thanks in advance

 

Michelle

[weescotschick]

Just checked my documents loan from 2006 - shows I signed for payment protection and same for rewritten loan in 2007 shows I signed and accepted payment protection so does that mean I cant claim back PPI, as I says I just presumed it was normal procedure to accept the PPI in loan.

[weescotschick]

anyone with advice????

[Markiemark1]

If it was missold then no doubt at all you can try to reclaim the ppi. There's plenty of good stuff on here so read away. Probably can have a go yourself. Mind you, Welcome are in a spot of bother I hear so might be hard to get anythng out of them.

[mojo8]

PPI mis-sselling is a huge thing at the moment, especially with welcome finance. Below is a link to a thread that will give you all the information you need, its a very long thread but you need to spend a couple of days reading and digesting it and you will know exactly what to do once you get to the end.

http://www.consumeractiongroup.co.uk/forum/general-consumer-issues/109794-welcome-finance.html

[082stewie]

case study 2:

loan and PPI policy terminated early before ombudsman decision

We upheld the complaint made by Mr T on the basis that the financial business had mis-sold him the PPI policy. We concluded that but for the financial business's failings, Mr T would not have purchased the PPI policy. In his case:

• his overall loan was for £23,000 (with monthly repayments of £430) – but it would have been £18,000 (with monthly repayments of £340) without the additional lending to fund the single premium PPI policy;
  
• the term of the loan and policy was for 60 months;
  
• the loan and policy were cancelled after Mr T had made 24 monthly payments;
  
• Mr T was required to pay £15,500 to settle the loan (after the business had taken account of the rebate of premium he was due of £1,200); but if he had not had the PPI added to the loan, the smaller loan of £18,000 would have cost £13,000 to settle at the same point.
  

So Mr T had paid the lender £90 a month more than he would have done, had the financial business not mis-sold the PPI policy; and £2,500 more to settle the loan, when he cancelled the loan and policy after 24 months. Accordingly, we required the financial business to:

• return to Mr T each of these excess monthly payments of £90 that he had made over the twenty months up to the date of settlement (£2,160);
  
• calculate the difference between the settlement costs Mr T incurred when he ended the loan early and those he would have incurred, had he settled the loan without the additional PPI element at the same time (£15,500 - £13,000 = £2,500) – and to pay that difference to Mr T;
  
• add interest to each of these excess payments of £90 and to the excess settlement cost (£2,500) – at a rate of 8% simple from the date each payment was made (and from the date that excess cost was incurred) until the date the financial business repaid Mr T;
  
• pay Mr T £400 for the extra inconvenience he had been caused in having to refer his complaint to us – because the financial business had rejected his complaint without properly analysing the defects in its sales practices and had delayed its responses to his enquiries; and
  
• set out for Mr T the details of its calculations.
  

Direct from the Fos site

[andie_303]

Now call me a cynic but this is the 2nd thread I have read in a couple of days where a Welcome customer has been contacted out the blue by a company saying welcome could have mis-sold the PPI - where is this company getting peoples details from?

 

Perhaps I don't know, welcome are earning a nice little kick back??

[postggj]

wescotchick

is that number still in phone memory

 

andie

 

very strange developments happening

[weescotschick]

Hey everyone

 

I have a welcome finance secured loan, Ive been with them for good few years. Anyway my question is..... my payment was due on 25th June (up to date with payments till this point) payment amount was 269.85, anyway because of my bank taking charges off me I couldnt pay them, so welcome told me to send them a cheque on 30th for the month of june and offered me to pay weekly if it suited me more. The cheque was due to clear this friday but Ive had to cancel as my wages cheque is not going in till monday and wont clear till the tuesday. So could I send them a cheque with letter enclose a new cheque and explaining the situation? Would they accpet or will they hound me on the phone????

 

Can they start proceedings for this one missed payment??? I mean by time they go to court get papers etc Id have made the payment.

 

Opinions please would be very helpful. Ive cancelled the cheque with my bank tonight, how long would it take for them to realise its not going to clear??

 

Advice would be most apprecaited. Thanks