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Welcome are now officially dead and buried


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Yeah that could also include the european candidates and do the whole lot as one..Would be fantastic with the great Stuart Hall lauging his nuts off in the background lol !! Perhaps the winner could recieve a Welcome secured loan as the trophy..LMAO:p

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Hi,

 

Im currently a Welcome Car Finance customer, i owe £7,775 and recently they have been trying to get me to settle for £5,000.

 

Has anyone successfully negotiated a deal with them yet?

 

Also strangely Welcome finance has been on my experian credit report for the last 2 years showing the outstanding balance of the loan, i noticed that on this months report they have diapered, leaving no history i have ever dealt with them.

 

Are they on the verge of going under or have they already gone??

 

Also i have received calls in November and December, January chasing a monthly payment from Welcome claiming to be Vehicle repossession department saying that unless intimidate payment is made the vehicle will be reposed that week.

 

Has anyone ever had there vehicle reposed by Welcome, or even are they allowed to do this?

 

Cheers Stef

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Hi stef your best bet is to create your own thread someone will be along to help you and answer your questions then :)

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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  • 2 weeks later...

Latest update - In the 1st two weeks of Feb 25% of remaining Welcome offices will be shut - the affected staff are being informed today.

 

Also apparantly all secured loans that have defaulted by 6months+ have already been sold on so anyone who this is relevant too should be receiving correspondance very soon, as soon as you do please let us know who now has the misfortune of trying to collect these mainly unenforceable agreements :-)...and the offers that they make.

 

Welcome stated that they would remain open for 2-3 years to collect the outstanding book but this seems to be very unlikely and was best case scenario (probably to retain staff) the current thinking is that in 12months they will be no more, the only part that will remain is shopacheck as its the only dpt that actually makes any cash!!

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does anyone know how many offices are actually left open at the moment?

 

Also, for those of us who have HP's, what will happen when they do go T*Ts up? will they try and take the cars back? will the HP's be lifted? Will the agreements become null and void if they dont sell them on?

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in my opinion 1 of 2 things will happen, either some mickey mouse company will buy the agreements at an incredulous discount in the hope that 1 out of 10 is enforcable or you will receive an offer from welcome to settle early for a large discount if they cant sell them on...they can ask for the loan to be paid up in full but you can tell them to take a running jump and no they cant take the cars back

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ooooo interesting *prays local office closes*

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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I just want comeuppance to the 'delightful' branch manager :cool:

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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I just want comeuppance to the 'delightful' branch manager :cool:

 

Yes and to my account manager lying little snotty 'git'.

Its the same at the end of each month ' oh you have to pay otherwise your car will be repossessed due to the arrears...nonscence it's monthend and you want commsision,give me some credit im not totally thick...

Will be interesting to see what happens to my personal loan and car loan..both with excessive apr and and some stupid charges,but signed new agreements last year due to being unable to afford the payments stupid I know but I suppose I may be able to negotiate if another creditor takes these over...we shall see..

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After what i just received in the post it had better be mine :mad:

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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Hi there Ih ave put up a few post with not much repsonse, i think i may be asking the wrong questions?

 

Could somebody please tell me, if i have a CCJ with Welcome (which i do) which is being paid via attachement of earnings. Is there a letter templete that i can use to settle the debt asking for my credit file to be marked satisfied??

 

Please help i would like to sort this out once and for all

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Hi there Ih ave put up a few post with not much repsonse, i think i may be asking the wrong questions?

 

Could somebody please tell me, if i have a CCJ with Welcome (which i do) which is being paid via attachement of earnings. Is there a letter templete that i can use to settle the debt asking for my credit file to be marked satisfied??

 

Please help i would like to sort this out once and for all

 

ans'ed on your own thread in this forum.

 

dx

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

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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No i WANT one of those lol dodgy DN :rolleyes:

Help with Welcome Finance - The Consumer Forums

have posted the letters here ;)

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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My mate works for WFS, I heard they are relocating, the company is not going under, which means, they will not go out knocking on anyones door. the really bad accounts will be taken over by another company and the rules will be worse thn wfs's.

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Hmmm very interesting news...my acct manager just called me to offer me and outstanding deal on my HP agreement...

Currently got 9k outstanding and as a special offer at the moment I can reduce it to 6k and pay it all off...offer vaild until the end of Feb..but he cant say how long this will last as the company change these deals on a monthly basis...or in other terms we are down the pan into the sewer with the other garbage...lol..:D

I did not let on I knew of Welcomes imminent demise and belive me it took me all my strengh not to laff out loud over the phone...

I thought I may get some hassle off these guys cos this is a large office but it looks like it could be bye bye..

Anyway not sure of others on this thread but you may be in an excellent position to start the haggling.....as Welcome must be trying to claw in as much cash as possible right now

I of course dont have 6k but it looks like my agreements could end up with some random DCA..who knows..I shall sit tight on that

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hi jj69 - where roughly is your local office - the general feeling is that the first batch of closures will be around the head office area as everything is moved to a central collection.

 

How welcome normally work is the further that your in arrears the greater your discount on your settlement offer. the max they used to be able to offer was 20% but we all now know that this can and is being bettered, the closer they get to closure the better the offers should become (your already upto 33%!!), its just hard to try and get any definative answers as to when this will be though as everyone is being kept in the dark for as long as possible to try and retain staff.

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My local office is Darlington in County Durham..it's a large two floored building with Welcome on both floors hence my surprise..

I have a personal acct about 3k with missed payment for Dec and of course the car loan with about 300 arrears..mostly charges..

I need to get copies of both agreements to check over the apr etc..

Dibbothethird..I wish I had a few grand spare right now as I would be a cheeky sod and offer them the bare minimum to clear these two.

Anybody found out what will happen to these agreements once Welcome folds..I suppose they will go to Head office first..

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all collections will move to head office and at a time that only welcome know all loans / hp's with outstanding dent will be sold on.

 

In very surprised that they have managed to find a buyer for aged loan accounts that are in default for 6months+, just shows theres desperate people / companies out there

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