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pinkfairydust

has anyone fought Welcome and won?!

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Hi

 

I took out a loan with Welcome Finance nearly 4 years ago, for £4k to buy a car. Since then, in order to increase or decrease payments, I've had to settle the debt and take out a new one (effectively - they did give this a name but I can't remember it). I had a statement through the other day saying that I still have £7.5k to pay back - after having paid it back for 4 years!! Also, when I missed payments they told me they'd stick it on the end of the debt but this has not happened and I've been charged a massive amount of interest! Has anyone fought Welcome Finance about unfairly trading, and if so how did they go about it, as I am struggling to to get a loan with anybody else (although my credit rating shouldn't be that bad, if it wasn't for a company messing me about but that's another story....) but don't want to be with Welcome anymore because they are a bunch of cowboys. I've managed to get myself out of debt by sheer hard work but want out of Welcome asap

 

Please help me! :(

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No idea but we are just about to start with them. We took out a 2k loan 2 years ago and only have 500 left and due to us both being made unemployed we missed this months payment.(NEVER missed a payment before)The other day a WF guy was 'in the area' and knocked on our door to which i politley told him to sod off.

Then saturday we receive a letter going on about land registry or something and have added nearly 100 in interest.This was an unsecured loan and was therefore not secured against any land.If i scanned it in would somebody please tell me what they are going on about,its very confusing.

Besides that im gonna start with the CCA letters and see what can be done.:mad:

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has anyone fought Welcome and won?!

 

Just about everyone and their dog.

 

I took out a loan with Welcome Finance nearly 4 years ago, for £4k to buy a car. Since then, in order to increase or decrease payments, I've had to settle the debt and take out a new one (effectively - they did give this a name but I can't remember it). I had a statement through the other day saying that I still have £7.5k to pay back - after having paid it back for 4 years!! Also, when I missed payments they told me they'd stick it on the end of the debt but this has not happened and I've been charged a massive amount of interest! Has anyone fought Welcome Finance about unfairly trading, and if so how did they go about it, as I am struggling to to get a loan with anybody else (although my credit rating shouldn't be that bad, if it wasn't for a company messing me about but that's another story....) but don't want to be with Welcome anymore because they are a bunch of cowboys. I've managed to get myself out of debt by sheer hard work but want out of Welcome asap

 

Couple of angles of attack:

 

Unfair penalty charges can be reclaimed with interest.

 

Knowing Welcome, there may be problems with the agreement itself or the procedures they have used.

 

What is the current situation, ie is the agreement up to date on payments or in default?

 

David

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No idea but we are just about to start with them. We took out a 2k loan 2 years ago and only have 500 left and due to us both being made unemployed we missed this months payment.(NEVER missed a payment before)The other day a WF guy was 'in the area' and knocked on our door to which i politley told him to sod off.

Then saturday we receive a letter going on about land registry or something and have added nearly 100 in interest.This was an unsecured loan and was therefore not secured against any land.If i scanned it in would somebody please tell me what they are going on about,its very confusing.

Besides that im gonna start with the CCA letters and see what can be done.:mad:

 

They're trying to scare you by threatening, albeit veiled, with a charging order and forced sale of your property that they think you may own.


"To love unconditionally is the greatest gift, laughter is a close second" .To give your time to help others after being helped here is the best way to show your appreciation to your fellow CAG members.

 

Please note that this advice is given informally, without liability and without prejudice. Seek the advice of an insured qualified professional if you have any doubts. All my knowledge has been gained here, for which I'm very grateful. I'm a Journalist, not a law professional.

 

If you do PM, make sure to include a link to your thread as I don't give out advice in private ;)

BB 13 - DCAs/banks and solicitors 0.

 

I get a fresh start to get on with learning to live with severe disabilities when they could have had something if they'd been understanding...

 

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They're trying to scare you by threatening, albeit veiled, with a charging order and forced sale of your property that they think you may own.

 

Ok so just ignore it and start with the cca letters?? I realise that some people say you owe the money you should pay it back (as sooo many on a certain other website always ram down your necks) but if its something i could get away with not paying it would be great right now ;-)

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We don't advocate debt evasion either.

 

You need to go through the process of seeing if the account is legally collectable and has a valid CCA.


"To love unconditionally is the greatest gift, laughter is a close second" .To give your time to help others after being helped here is the best way to show your appreciation to your fellow CAG members.

 

Please note that this advice is given informally, without liability and without prejudice. Seek the advice of an insured qualified professional if you have any doubts. All my knowledge has been gained here, for which I'm very grateful. I'm a Journalist, not a law professional.

 

If you do PM, make sure to include a link to your thread as I don't give out advice in private ;)

BB 13 - DCAs/banks and solicitors 0.

 

I get a fresh start to get on with learning to live with severe disabilities when they could have had something if they'd been understanding...

 

<--- If you feel I've helped, please twinkle my star :)

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Thank you xx

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You're welcome :)

 

Let us know how it goes.


"To love unconditionally is the greatest gift, laughter is a close second" .To give your time to help others after being helped here is the best way to show your appreciation to your fellow CAG members.

 

Please note that this advice is given informally, without liability and without prejudice. Seek the advice of an insured qualified professional if you have any doubts. All my knowledge has been gained here, for which I'm very grateful. I'm a Journalist, not a law professional.

 

If you do PM, make sure to include a link to your thread as I don't give out advice in private ;)

BB 13 - DCAs/banks and solicitors 0.

 

I get a fresh start to get on with learning to live with severe disabilities when they could have had something if they'd been understanding...

 

<--- If you feel I've helped, please twinkle my star :)

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Just about everyone and their dog.

 

 

 

Couple of angles of attack:

 

Unfair penalty charges can be reclaimed with interest.

 

Knowing Welcome, there may be problems with the agreement itself or the procedures they have used.

 

What is the current situation, ie is the agreement up to date on payments or in default?

 

David

 

 

The account itself is up to date and hasn't been defaulted on or payments missed for at least a year if not longer. When I had initial problems with paying, they told me that they'd tack the payment on at the end but never mentioned that they would charge interest on top of the interest! (or at least that's the way it came across when I went in to see them). I was hoping to claim back anything I can then was thinking of possibly doing a Voluntary Termination on my credit agreement but I see people have mentioned CCA's and I'm not sure what these are or whether that would be a better option?

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I would imagine that a few stiff letters mentioning who you're going to complain to about their behaviour and terms of business would do you good. Copy your MP in and TS and the OFT :)


"To love unconditionally is the greatest gift, laughter is a close second" .To give your time to help others after being helped here is the best way to show your appreciation to your fellow CAG members.

 

Please note that this advice is given informally, without liability and without prejudice. Seek the advice of an insured qualified professional if you have any doubts. All my knowledge has been gained here, for which I'm very grateful. I'm a Journalist, not a law professional.

 

If you do PM, make sure to include a link to your thread as I don't give out advice in private ;)

BB 13 - DCAs/banks and solicitors 0.

 

I get a fresh start to get on with learning to live with severe disabilities when they could have had something if they'd been understanding...

 

<--- If you feel I've helped, please twinkle my star :)

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