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Hassle from Welcome finance


Malakorah
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Hi all,

Am brand new to this so please bear with me!! I have an HP agreement and also a secured loan with Welcome finance (stupid i know) due to drastic changes in my family's income i cannot afford to keep payments on the car.I recieved a phone call today from Welcome stating that if i didnt pay then both agreements were going to local collection teams for them to deal with!!.

I offered to try and resolve the issue by perhaps combining both amounts and paying over a longer term but they were having none of that!!. The charming lady from 'customer relations' stated that if the accounts were transferred to local collections then it was possible that my home would be at risk!!.:mad:

I told her this was rubbish and that they were two seperate agreements but now i'm fretting on about it.

So my main question is how do i either combine the accounts into one or insist that they repossess the car ( an option that Welcome seem unwilling to contemplate at the moment )

Any ideas or help will be greatly appreciated:confused:

 

p.s are ther still any 'Welcome fighters' left out there? i have read the threads over the last few weeks!!:confused:

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Hi - Welcome to CAG

 

Sorry to hear that you're having problems, but you've certainly found the right place to help sort them out!!!

 

Have you missed any payments on your secured loan?

jaxads

 

Halifax - £2281, successfully refunded all charges after LBA letter & telephone call.

Have been offered the difference between the £20 and £12 charges from Capital One -- am sending LBA for remainder.

GE Money - Received settlement of £441, being total charges requested. No interest though.

CCA'd Bank of Scotland / Blair Oliver Scott to produce CCA Agreements on two Credit Cards - well in default, although still chasing payment!!!

EOS Solutions "ceased action on account" on behalf of a friend.

 

All in all, quite busy at the moment and enjoying every minute of it
:eek:

 

 

 

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Hi there

 

its nice to know there are real people out there with the same problems!!

In answer to your question i am in arrears by under one month on my secured loan ( this being due to my wife being taken ill suddenly and having to quit work)

I can realistically pay my mortgage and secured loan but not the overinflated HP payments and have explained this to Welcome but they just dont want to hear about it!

Many thanks for your reply

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Hi Malakorah

 

Yes, we're real :)

 

I don't understand how they can transfer your secured loan to a collections company if you're under one month in arrears, but then welcome will try anything!!

 

What are your plans with the HP -- have you decided to let the car go back? I take it, due to their high interest that if you let the car go back then you'll still have quite an amount oustanding to pay:mad:

 

The most important thing to do is keep up to date with your secured loan.

 

You're a long way off this, but ...... just to let you know the process --

 

Before any action (ie repossession) can be taken on a secured loan, the account would need to default (3 missed payments) and then court action may follow. Even at that stage, repossession is still very much a last resort, provided you can show a judge that you can repay your payments, plus a small amount towards arrears, then repossession will be suspended.

 

So please don't worry about that yet. Welcome are not above the law and they cannot just take your home off you!!

 

Keep the thread updated and you'll get lots of help and support from members of this site. Have a good read around the threads yourself, you'll be amazed at what you'll learn and the confidence you'll gain to help you deal with the situation.

 

Best wishes.

jaxads

 

Halifax - £2281, successfully refunded all charges after LBA letter & telephone call.

Have been offered the difference between the £20 and £12 charges from Capital One -- am sending LBA for remainder.

GE Money - Received settlement of £441, being total charges requested. No interest though.

CCA'd Bank of Scotland / Blair Oliver Scott to produce CCA Agreements on two Credit Cards - well in default, although still chasing payment!!!

EOS Solutions "ceased action on account" on behalf of a friend.

 

All in all, quite busy at the moment and enjoying every minute of it
:eek:

 

 

 

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Hi jaxads,

Its great to hear that the Welcome fighters are still around!!

Just to update you all....

I have decided to let the car go as i really cant keep up with payments since my wife had to leave work due to sudden poor health and the insurance will not cover anything due to the nature of her illness!!.

The good news is that i can afford the secured loan payments etc so i shouldnt lose the house (although it will be tight) i just want to sort out this business with the car so i can just concentrate on everything else.

I did recieve a letter from the local office of Welcome asking me where the car is kept etc (formal request for information) and i assume this is in case they need to come and repo the car.

I must say that Welcome staff on the telephone certainly dont like being challenged on anything that they say (as i found out during the last phone call).And they certainly have some staff that obviously know nothing about the law!!:lol:

Anyway i will keep you all updated and chins up everyone!!:grin:

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