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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????

 

I would think either the banks would take over the debt themselves, it would be sold on to another company, or the remaining debt would be written off as a learning experience for the banks. After all, would you lend to Cattles again? :D

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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

 

You should email him the RNS announcements from the LSE, maybe that'll wipe the grin of his face.

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Hi Sol - I dont think the banks would want anything to do with the loan book, whoever buys them will obviously get them as a bulk lot and unless someones going to spend a fortune going over them with a fine toothcomb the risk would be too great that what they were buying were worthless ( pretty much like welcomes shares!!) and could infact cost them ie PPI / unenforceable agreements etc,

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That Exactly The Situation Ralalu

 

The Agreements Are Well Known To Be Toxic

 

Marlin And Go Debt Is A Prime Example With The Yes Car Credit Agreements

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Oops forgot to mention - just had a phone call asking if i'd be making this months payment on the 24th as agreed?! He pointed out they were only upon untill lunch to which I replied is that just for that day or is that when your office is being closed and rellocated? We then had a chat about the announcement and he confirmed that the stafff know the same as us, hes not sure when his branch will shut but welcome will be now more in 2/3 years max. (to be fair he was actually quite pleasant on the phone but i feel this may change when theres no sign of MR RALALU on the 24th:D)

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Post - my thinking is that everyone whos loans are not due to be finished within the next 2 years (not 3) should be receiving some kind of substantial reduced offer very soon, i mean better to get something now than nothing later.

 

All - If the above is true as and when Welcome send you a reduced settlement offer please can you scan (obviously delete the personal info) and post them up so we can see what they are proposing / how desperate they are.

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I would think either the banks would take over the debt themselves, it would be sold on to another company, or the remaining debt would be written off as a learning experience for the banks. After all, would you lend to Cattles again? :D

 

The banks can't collect. They are not the creditor, as far as Welcome's customers are concerned.

 

The only way that could happen is if Cattles were to assign the debts under the Law of Property Act. But would YOU want to take control of collection?

 

Securitization is impossible for obvious reasons. ;)

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Massive Discounts Will Be On The Cards

 

Its Rbs Calling The Shots, Not Cattles

 

They Will Prob Be Satisfied Getting Back The Original Amount Loaned

 

This Will Be In Full And Final As They Dont Want The Hastle Ref The Ppi Racket, Etc

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Rbs Are Calling The Shots In The Back Round

 

They Are Telling Cattles

 

But Fester Is Correct

 

Welcome Are The Creditor As Thats Who Your Contract Is With

 

Not Rbs

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Rbs Want Some Of There Money Back

 

The Threat Of Winding Up Cattles Is Enough

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LMFAO!!!!!!!!!!!

 

Best Xmas pressie I could have had...I WILL now be popping that bottle of champers folks.

 

Post....(clink) cheers! :D


Dipply75

 

I am in no way a legal advisor and only speak from my own experiences and the helpful advice of those in the same boat! :p

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Actually, I have just had a thought. It is not in the interests of RBS to wind up Cattles.

 

Other creditors may like the idea though.

 

Shareholders are not creditors. However much they wish they were.

 

Those of us with PPI claims ARE owed money though.

 

Perhaps it's time we said ENOUGH, and petitioned for their winding up. All we need is someone to either have an outstanding adjudication from the Ombudsman (not one of his lackies), or a court order telling them to pay up, and they haven't.

 

Come ON Welcome... take me to court. HAHAHAHAHAHA :D

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LMFAO!!!!!!!!!!!

 

Best Xmas pressie I could have had...I WILL now be popping that bottle of champers folks.

 

Post....(clink) cheers! :D

 

Dipply, I just scrolled to your message and nearly choked on my dinner. Brilliant. LOVE IT!!!:D:D:D

 

Cheers, MARK

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Its Been A Long Time Comming Dipply

 

No Surender

No Quarter Given

 

Scorched Earth

 

We Did It

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I took a loan out with welcome over a year ago, £2000 over 3 years. Needless to say I'm over the moon with this news.

 

However, with this situation as it is, do I carry on paying the extortionate amount they want every month or do I stop paying them and wait and see what they say?

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Hi Notata. Start your own thread and it wont be long before people help out. Good Luck. Click the new thread tab at the bottom of the Welcome menu.

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Confused, what was edited at post 49 & 50?

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Sorry, didn't realise this was the wrong thread to talk about Welcome...

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Confused, what was edited at post 49 & 50?

 

Dont know mate but your post was superb !!!

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Edit at 49 was in consideration to the bypass of CAG swear filter.

Post 50 was quote of 49 so had to be done as well.

Rules are rules-I didnt make them !


Have a happy and prosperous 2013 by avoiiding Payday loans. If you are sent a private message directing you for advice or support with your issues to another website,this is your choice.Before you decide,consider the users here who have already offered help and support.

Advice offered by Martin3030 is not supported by any legal training or qualification.Members are advised to use the services of fully insured legal professionals when needed.

 

 

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2.7 Billion Owed

 

Well I Was Close

 

I Had Inside Info That Put It At 2.5

 

 

 

Do The Maths

 

Debt 2.7 Billion And At A Loss Of 1 Million A Day, Every Day

 

Total 2.5 Billion In Toxic Debts On The Books

 

Shame

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May I Ask The Site Team Where Are Pt And Stephen Are

 

They Hate Welcome As Much As Me And Have Been By My Side Since Day 1

 

Would Love There Comments

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Thats a lot of dosh (well it is if you havent got it).....It equates to around a third of Abramovitches total wealth.


Have a happy and prosperous 2013 by avoiiding Payday loans. If you are sent a private message directing you for advice or support with your issues to another website,this is your choice.Before you decide,consider the users here who have already offered help and support.

Advice offered by Martin3030 is not supported by any legal training or qualification.Members are advised to use the services of fully insured legal professionals when needed.

 

 

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Steven is in Romania on a work assignment.

Pt is taking some well deserved time away-although he is keeping tabs with developments.


Have a happy and prosperous 2013 by avoiiding Payday loans. If you are sent a private message directing you for advice or support with your issues to another website,this is your choice.Before you decide,consider the users here who have already offered help and support.

Advice offered by Martin3030 is not supported by any legal training or qualification.Members are advised to use the services of fully insured legal professionals when needed.

 

 

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style="text-align:center;"> Please note that this topic has not had any new posts for the last 3253 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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