Welcome finance+DCA

[miziwizzi]

Hello guys

 

do any of you know who welcome tend to sell their debt onto?

 

Old account re-surfaced, been offered settlement figure or debt to be sold on in morning, so was just wondering.

[creditcardmug]

Im fairly sure its C L Finance, they seem to be joined at the hip.

 

If the offer has come from Lewis then this confirms it.

[miziwizzi]

No it has come straight from my local branch.

 

Basically purchased car in 03/04, not one of those ones you see on here nowadays, we found car ourselves!

 

No PPI but they did force gap insurance, told no gap no loan, however we put down £6,000 on a £10,000 car so did not need it, this was followed by a few late payments during a difficult time and charges for calls etc being added., argued gap n charges etc, and consequently not paid anything for 2 years approx, now balance is £1,800.

 

Not sure what offer will be as is hubbys account so wasnt told, however I do know that if they could of done anything they would of by now so thinking they dont have correct paper work etc.

 

However of recent they have added a 6 to credit file so account showing in arears, I do not wish this to go into a default so thinking some arrangement could be reached.

[creditcardmug]

Ok, you need someone else on here not me, i know nothing about car hp etc,

Keep bumping the thread every 6 hours or so to bring it to the top, just type the word "bump", that will do it.

[miziwizzi]

Hi Guys,

 

wanting to sort out welcome to whom O/H owes 1700, I know they have no CCA ( not asked but they not done anything so plus I have ours and its tosh). The account has gap insurance on which was never needed but forced to take it as no gap no loan type of threat! Also charges.

 

These all total arond £1000 so leaving around £700 whih am happy to pay on proviso they rectify my credit file from showing 6's back to all ok n paid in full.

 

Which letter do you suggest? in dispute or subject acess request? and where have the templates gone???

 

 

ta in advance

[bigegg]

You can go either way.

If you ask for their copy of CCA, and it's unenforceable, then you don't pay them anything.

BUT: they will f*** your credit report, ring you constantly, and visit every other day.

 

Or you can ask for SAR, then reclaim charges/GAP - but they will almost certainly fight you all the way into court.

Meanwhile, you will have to continue paying them, or they

will f*** your credit report, ring you constantly, and visit every other day.

 

I'd go for the SAR first. Remember to ask for all details pertaining to insurance - underwriter, policy document, policy number, HOW MUCH COMMISSION WAS PAID TO WELCOME.

 

Also, there is a sticky about multiple agreements on same CCA - this covers when insurance is added to loan amount so you pay interest on it. From what I can gather, insurance should be come under it's own prescribed terms - there should be separate APR, repayment schedule etc, if it doesn't have them, that's another reason for CCA to be unenforceable.

 

BUT again - be prepared for an uphill battle

[miziwizzi]

Thanks so much for reply, stopped paying them around 18 months back and told them to sort gap etc, they have constantly marked credit file with 6 months arears for the last year.

 

Lots of offers such as make regular ayments then when its gets to £1000 left we will write it off etc but I dont want it written off I want it taken off now then I will clear balance.

 

Threats of sending to DCA etc too, will send SAR in morning and see what happens.

[miziwizzi]

Have written to welcome requesting the removal of gap insurance cost that was never required and stated that once done we will clear all monies owed by us.

 

will update once a response is received.

[bigegg]

before you pay them ANYTHING.

read this thread:

 

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

 

Basically, Welcome are being investigated by the serious fraud office and the Vat-Man over "supposed irregularities" in their accounting. Mainly related to non-existant insurance policies.

There are also long-standing problems with ALL their credit agreements.

If you signed for this loan before 2007, chances are it will be completely unenforceable AND possibly unlawful.

 

Either way, Cattles PLC(the company who trades as Welcome) have had several (6?) of their directors suspended, and their shares are now trading at around 2p (as opposed to £2 a year ago).

 

They also owe £500m to Barclays(?) and are rumoured to be around 1.5 BILLION quid up Shut creeK.

 

Happy days!

[Angel104]

Are welcome really being investigated by the serious fraud office?

[bigegg]

allegedly, according to people on that thread

 

[postggj]

I Can Confirm 100%

 

Dixon Of Dock Green

 

Fsa

 

Hmrc

[miziwizzi]

Hello,

 

I have just checked my credit file and noticed that welcome shows up on the footpath.

 

Thing is I do not and have never had any dealings with welcome myself, hubby does have which is currently awaiting results of SAR due to forced selling of gap insurance and charges.

 

The CRA states the following:

 

Financial associate searches show when your credit report information has been seen because someone you are financially connected to has made an application for credit. This information is recorded for you on your copy of your credit report only. It will not be seen by lenders.

 

 

As my OH has not applied for credit they are only checking to see what he is up to regarding other accounts etc but I am really not happy that they are getting to see my profile.

 

What do you guys think?

[andie_303]

have you spoken with the CRA about it? - doubt they will do anything about it but worth asking why someone is allowed to look at your file when you do not have nor wish to have credit with them and your hubby is not applying for credit with them either - ask for a response in writing.

[miziwizzi]

^ tried to email credit expert but form says my ref number is too short and needs to be 8 numbers long even though I hasd entered the 8 digits!! grrr so letter will be posted rec delivery on Sat.

 

Just don't see where its right or fair that they should be seeing my details.

[andie_303]

Thats Welscum for you - neither right nor fair!

[miziwizzi]

Ok no response to letter, however on just checking credit file they have now marked account as defaulted, but no default notice received by us!

 

Guessing we will have a DCA contact us soon.

[andie_303]

Welcome's usual response - none!!

 

Send again to Welcome head office in Nottingham - address it to Chris Palmer Compliance Department - tell him this is a copy of previously ignored corresspondance - give him 7 days (and the date that it 7 days away) to comply otherwise you will file the matter in small claims court. I.e. you will take them to court long before they take you, you will win and they will be screwed!!

[miziwizzi]

Hi all,

 

welcome account passed to MKDP, just noticed credit file has been marked satisfied, however where default date was listed it now says debt assigned. How does this stand in terms of it falling off credit file? now there is no 6 year date!

 

Anyone know?

Thanks

[cerberusalert]

The original lender will mark the a/c satisfied when they sell the debt on & then the new owner will carry on updating your file. However the original default entry will remain on your file until the six years are up and then it should drop off along with all the updates afterwards.

 

Keep a hard copy of your credit file showing the entry now in case you need evidence at a later date. Some DCAs have been known to try and extend the 'life' of a default.

[miziwizzi]

Thanks for response,

 

welcome have already done the extending thing, they marked account defaulted asof 2010 but in actual fact we have default notice from 2006.

 

Now file has changed there is no default date marked at all.