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Hi I have had help from here before for other matters and do have quite a lot of debt that i'm am trying to sort, here is one that is quite a problem.


We had a secured loan from welcome finance which turned into a unsecured loan when our home was repossessed last year, it took welcome a week to realise what had happened and kept ringing my sister until I spoke to them. we owe around £23000. The original loan was over 25 years when we took it out the payments were around £450 a month but we couldn't afford this so they did a new agreement which put them down to £250 I can't remember signing a new agreement for this but did sign something, I do keep all paperwork and could have a proper look if needed.

We haven't paid anything to them for about 6 months as they are adding £220 a month interest on the loan plus made up fees for phonecalls, so really can't see the point as nothing is coming of the debt unless we pay more than £250 a month which we can't afford.

We have today had a letter saying someone is coming out to see us if we don't ring them in the next 48 hours. I really don't know what to say to them I'm sure they won't accept £30 a month and it would be waste anyway as the debt will never be paid. I would love to sort this out and start to clear the debt but with all the interest I can't see how.

We did get a default notice of them a while ago and it said the total payable if paid over the full term would have been over £70000.


Is there anyone out there who could advise me on what to do?, I could have a look through the paperwork if needed for the proper figures.


Thanks in advance

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i'd post this is the welcome forum.



please don't hit Quote...just type we know what we said earlier..


if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s -  would collapse overnight.


DCA's view debtors as suckers, marks and mugs - that's why they will never tell you they are not bailiffs and have absolutely zero legal powers on any debt.



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