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Advice Needed on Welcome Loan


spinkben
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Hi,

 

In a state of personal desperation I took out a secured Welcome Loan last year for £15,000, paying back £300 a month. I have reached a stage where I am struggling to pay the full amount every month due to other commitments. At the time of the loan they initially said no but then said they could use my partners income even though she isn't named.

 

I was wondering what is the best way to approach them to see if I can lower the payments or take a payment break, or what the consequences are if i miss a payment. From reading this forum the future looks bleak in this sense.

 

PS I'm not trying to weasle out of the loan just worried about potential consequences.

 

Thanks in advance.

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Hi,

 

In a state of personal desperation I took out a secured Welcome Loan last year for £15,000, paying back £300 a month. I have reached a stage where I am struggling to pay the full amount every month due to other commitments. At the time of the loan they initially said no but then said they could use my partners income even though she isn't named.

 

I was wondering what is the best way to approach them to see if I can lower the payments or take a payment break, or what the consequences are if i miss a payment. From reading this forum the future looks bleak in this sense.

 

PS I'm not trying to weasle out of the loan just worried about potential consequences.

 

Thanks in advance.

 

Hi and Welcome to CAG

 

What I would do if I was you first of all is to submit a S.A.R ( subject access request ) to them, and see what info they have on you. They have got a specific time limit to repsond to this request and you need to send a postal order / cheque for £10.00 for the privelige. Have you got a copy of your credit agreement to hand ? Maybe you could post it on here ( minus your personal details of course ), and Im sure someone more experienced than myself, would happliy have a look and make sure it is all above board ( knowing Welcome this is not the case !!n )

 

Good luck and we are all happy to help you where we can :D

Forsure

 

** One woman crusade against the rip off lenders ! **

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I Take It You Were Shafted By Them Pushing Ppi Etc

 

Do You Have Any Micky Mouse INSURANCE

 

:lol: @ Mickey Mouse Insurance !! ( Thats an understatement - even for you Post !! )

Forsure

 

** One woman crusade against the rip off lenders ! **

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