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I have put the account in Dispute long time ago and put the complain to Ombudsman and i picked home phone it was the account manager from Welcome and he went on saying that i need to start paying as Charges and the interests are being added to your account plus your credit file is going to updated with no payment made .And i told him that what part of dispute you did not get it he went on the dispute is with the Company who sold you the loan and insurance not us we are the lender so we can demand you money and can put default your account and credit history .I said to him i followed legal procedure and put the account in dispute while Ombudsman investigating into this matter so if you did not like my way of putting my account in Dispute and you want add charges and Interests than please confirm it in writing ,He said he will ask their complaint department to do that and send me letter .And then he asked me to send him the letter from Ombudsman that came to me that my case will be looked by adjudicator .I was telling him that you must call me and threat me about my credit rating he went saying it is fact not threat and hang up on me .I was so :-x:-x:-x:-x So guys can he really affect my credit file and add extra interest while the account is in Dispute ? Thanks

 

I may be wrong but as i understand it they arent at liberty to chase payment, add anything to the account or amend your credit report whilst the account is in dispute i may be wrong tho anyone agree or disagree please??


I am a consumer just like you, please get a second opinion or investigate yourself on anything I advise as I am in no way legally trained. Everything I know has come from the Mighty CAG and fellow CAGGERS. :cool:

 

If I have helped in any way please click my reputation star and make a donation to CAG to enable us all to continue to help each other :cool:

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FT.com / Companies / Financial Services - Shareholders ponder Cattles legal action any body read this? There is a shareholder ( sorry a moron) stating that the demise of Cattles ( SHAME) will mean the rise of the Loan Shark.

 

IS anybody thinking the same as me?

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Beyond, you are correct. But Tariq, face it this is Welscum! Would they break the law knowingly?

 

Would they add interest, would they still update your credit file, would they still ring you or threaten doorstep visits and then add their outlandish charges onto your arrears. Would they sell the account on to a Debt Collector?

 

Let us just think about that! They will do what they want, even when everyone knows they shouldn`t.

 

That may be a little unfair, but you would have to watch everything they do as closely as you can.

 

Cheers, MARK

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Well after seeing Cattles' share price drop to just over 1p and then raise to over 6p before being suspended I was starting to think this lot would survive. Reading some of the investors' comments certainly didn't help with that, but now that even their optimism has went, it certainly does look as though WFS are finished for good. :D

 

I wouldn't gloat at people losing their jobs, however, we've all experienced this lot's lies, unprofessionalism, threats and fake agreements to name a few, and we all know they get away with it. It just proves that it's not just a company that had a corrupt boardroom of directors; it filtered all the way down to the advisors. I believe in karma, and this is what happens when you play dirty.

 

I would advise people to be even more vigilant. Remember, Welcome employees have very little to lose now and may want to play games with the customers. Make sure all your paperwork is in order and, if in doubt, ask here.

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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.

 

 

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I don't have much sympathy for the shareholders, they had 6/7 months to sell up their shares n call it a day; they were all giving each other false hope even before the shares were suspended.

 

It's still a shock to see the end of Welcome in sight though 

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I feel no sorrow for any of these people... Share dealers gamble...End of !!! When they win they dont complain and they thought they could feed off of unlawful lending.

I hope this lot go down like the titanic !!!

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I wouldn't gloat at people losing their jobs, however, we've all experienced this lot's lies, unprofessionalism, threats and fake agreements to name a few, and we all know they get away with it. It just proves that it's not just a company that had a corrupt boardroom of directors; it filtered all the way down to the advisors. I believe in karma, and this is what happens when you play dirty.

 

Hey Sol. Just a little attempt at humour, just as I always try to.

 

I wouldn`t want to encourage gloating at peoples misfortune that isn`t fair.

 

And you are correct, "What Comes Around Goes Around" or whatever the saying is.

 

What I will say though is that after I realised (eventually) just what my Wife was going through every month at the hands of our so called account manager and his cohorts in the local branch, for the bullying, lies and harassment, and for actually frightening my wife to tears with his attitude, I hope now he`s lost his job that his eyes fester and drop out as well. And that all the others in that office really struggle before they get jobs. And they face the prospect most people on these forums faced, when all that was required was patience and understanding.

 

Don`t worry too much about them. They will have nice little Nest Eggs set aside through all the Commissions and bonuses they have fiddled from us.

 

Yet it is the season of good will, so let me wish you a Merry Christmas. One and all.:razz:

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Im sooo smiling right now! :-D Come on Welcome ring me today hahahahaha

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Hey Sol. Just a little attempt at humour, just as I always try to.

 

I wouldn`t want to encourage gloating at peoples misfortune that isn`t fair.

 

And you are correct, "What Comes Around Goes Around" or whatever the saying is.

 

What I will say though is that after I realised (eventually) just what my Wife was going through every month at the hands of our so called account manager and his cohorts in the local branch, for the bullying, lies and harassment, and for actually frightening my wife to tears with his attitude, I hope now he`s lost his job that his eyes fester and drop out as well. And that all the others in that office really struggle before they get jobs. And they face the prospect most people on these forums faced, when all that was required was patience and understanding.

 

Don`t worry too much about them. They will have nice little Nest Eggs set aside through all the Commissions and bonuses they have fiddled from us.

 

Yet it is the season of good will, so let me wish you a Merry Christmas. One and all.:razz:

 

 

Could not agree more...staff in my local office were appalling,ringing mobile constantly if your payment was one day late,shoving notes through your letterbox to contact them urgently oh then charging you £25 for the pleasure...unfortately I signed new agreements last year to bring down the cost of two loans which I can now manage to pay just over a longer term..will be interesting to see what happens now..as for the account managers they can go to hell for being so unprofessional..not very goodwill I know but that sums up their attitudes...going to claim my charges back now..:D

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I may be wrong but as i understand it they arent at liberty to chase payment, add anything to the account or amend your credit report whilst the account is in dispute i may be wrong tho anyone agree or disagree please??

 

This is true yet they will try and BS you over the phone like they did me 2 days ago

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i have a question - if Welcome intend to remain active for another 3 years max to collect their loan book(as stated in the shareholder meeting) what would happen to the people whos loans still had 4, 5 or even longer years to run. As has been stated on many posts, its very unlikely that welcome would find a buyer for the remaining debt as the loans are liable to incorrect agreements & PPI reclaims, therefore what would happen to the amount still outstanding????

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Quick question. If and when the time comes to make an offer to settle, which figure do we use? Is it the original amount borrowed, or the amount due overall? I mean, I borrowed £7500 to get my car, but the total to pay back is just over £14k.

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Its totally up to you, your making an offer and thats all it is, id take into consideration how long you have had the loan out and how much you have repaid already though. Personally come mid jan ill offer 25% as my settlement, they can either take it and run or fight with me for the remaining 3 years and inccur further costs with no guarantee of being able to collect the remaing amount anyway :D

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I wasn't thinking of offering that much, more 5 - 10%. I've been waiting for Welcome to come chase me for money for well over a year, pleaded with them to take me to court (dubious agreement and paperwork), but nothing happening. Although they've defaulted me numerous times, and terminated the agreement with an iffy termination. I beleive Postgg has said before that their termination only leaves you liable to the arrears to termination, could an offer be made on that figure?

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Its totally up to you, your making an offer and thats all it is, id take into consideration how long you have had the loan out and how much you have repaid already though. Personally come mid jan ill offer 25% as my settlement, they can either take it and run or fight with me for the remaining 3 years and inccur further costs with no guarantee of being able to collect the remaing amount anyway :D

 

 

Is this with a defective agreement ? I have about 3 yrs left on a loan with these clowns next payment due end of Dec...Im tempted to hold back payment but that depends on when the office is due to close I guess,dont want these idiots knocking on my door over xmas

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If you have a defective agreement then no i wouldn't be offering even that, id either be asking for the loan to be wiped completely or for an even lower settlement figure. What action you take really depends on if your up for the fight and hassle which will come when disputing the agreement if you just want an easy life make them a ridiculous offer, the worse they can say is no.

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Hi guys, very interesting news this!

 

I have a secured loan with Welscum (started thread a couple of days ago :-) ) for 3K and after 6 months of not been able to pay I have received a default. Does anybody know if its possible to negotiate a settlement on secured loans??

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If you have a defective agreement then no i wouldn't be offering even that, id either be asking for the loan to be wiped completely or for an even lower settlement figure. What action you take really depends on if your up for the fight and hassle which will come when disputing the agreement if you just want an easy life make them a ridiculous offer, the worse they can say is no.

 

I'm up the 'fight', I'm assuming getting them to wipe the agreement would involve court action? I'm prepared to do whatever it takes to get these clowns off my back. I might have to phone them and see what they say...

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Yes it is very much possible

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I am absolutely delighted at this news. For 5 years I have had the millstone of Welcome Finance around my neck, their rude, abusive and patronising staff shouting at me. This could not happen to a nicer outfit.

 

Rest in Pieces.

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Haha! Phonecall from Marcus at Welcome! I asked him why he wasnt at the jobcentre, he laughed and said Welcome are not going bust..not what Ive read MATE

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You should have forwarded him the announcement I started this thread with, maybe then he would be using his time looking for further employment rather than harrasing people on the phone....

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i see the christmas spirit is alive and kicking

 

welcomes favourite was

 

a christmas carol

 

now its

 

a nightmare before christmas

 

seems fitting

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Hey Sol. Just a little attempt at humour, just as I always try to.

 

I wouldn`t want to encourage gloating at peoples misfortune that isn`t fair.

 

And you are correct, "What Comes Around Goes Around" or whatever the saying is.

 

What I will say though is that after I realised (eventually) just what my Wife was going through every month at the hands of our so called account manager and his cohorts in the local branch, for the bullying, lies and harassment, and for actually frightening my wife to tears with his attitude, I hope now he`s lost his job that his eyes fester and drop out as well. And that all the others in that office really struggle before they get jobs. And they face the prospect most people on these forums faced, when all that was required was patience and understanding.

 

Don`t worry too much about them. They will have nice little Nest Eggs set aside through all the Commissions and bonuses they have fiddled from us.

 

Yet it is the season of good will, so let me wish you a Merry Christmas. One and all.:razz:

 

I agree completely, I have no sympathy for any member of staff at Welcome Finance whatsoever. They played unfair and illegally for too long and now it's hit them back.

 

Who wants to toast? :D

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style="text-align:center;"> Please note that this topic has not had any new posts for the last 3316 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

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