Secured Welcome Loan - Help!

[Gram1]

i know but i already have arrears and have been sent a default notice so i think we're at the stage where they will step it up considerably now when another missed payments happens. we'll see i suppose.

[postggj]

Do You Still Have The Default Notice

 

On It Does It Say 14 Days To Rectify The Breach By Or Has A Numerical Date Been Inserted

[Gram1]

yeah still have it. It just says 14 days to rectify, no numerical date.

 

I know from other posts this makes it invalid, but that wont stop them trying to take it to the next stage will it?

[postggj]

Whole New Ball Game If Welcome Go Legal

 

Keep That On The Qt And Very Safe

[Gram1]

Whole New Ball Game If Welcome Go Legal

 

Keep That On The Qt And Very Safe

 

Will do!

[Gram1]

Whole New Ball Game If Welcome Go Legal

 

Keep That On The Qt And Very Safe

 

Been reading few more posts etc and reading of people going to court etc. and to be honest the thought of having to appear in court freaks the hell out of me.

 

Is it likely to get to that? ie a personal appearance in court?

 

also, you mentioned earlier that by time u finished with them they will be owing me money lol, how can that be?

[postggj]

I Know This Is Going To Be Hard To Believe But

 

Very Few Claims End Up By Standing In Front Of A Judge,

Most Of The Time The Claimant Will WithDraw The Moment A Defence Goes In, Costs Is The Main Reason

 

Remind Any One Of Cohen Or Carter

 

With Me, My First Time Scared The Hell Out Of Me, Now Its A Walk In The Park

 

Its Like Rding A Bike, Do It Once, Then No Probs

[postggj]

The Last Welcome Defence I Did, The Cagger Got Back Near 2 Grand In Refund Of Ppi Insurance, Etc Etc

 

I Also Claimed 30 Hours At £9.25 Per Hour Litigant In Person Rate

 

40 P Per Mile Travel Costs

 

Its Easy To Issue A Claim

 

Defending It Is A Whole New Ball Game

[Gram1]

Interesting to know, thanks.

 

I almost wish i had ppi in the loan now lol

[Gram1]

Letter printed now Postggj

 

Away to see if post office is open this morning (doubt it!) and will send today if it is.

[Gram1]

Hi Postggj

 

I received a letter this morning (dated 25th December!) quoting my arrears figure and said that as i had not reached a satisfactory repayment proposal with them that i had to contact them within 2 days to arrange one or they would pass my accoutn onto debt collection agency to enforce recovery. I know this is probably (hopefully) just hot air from them but -

 

Questions -

 

Would it actually be beneficial for me if hte passed it onto DCA ie would they be more willing to reach a repayment proposal with me that i can afford? Or would they just go for the jugular and try to recover the whole amount due and take me to court?

 

How does it work with selling a secured loan debt onto a DCA? would the charge be transferred to the DCA name?

 

Still awaiting to hear back from compliance regarding the letter we sent but in the meantime was a bit worried about the letter we got.

 

Thanks

[postggj]

that letter was sent before we sent ours

 

they are prob still picking the crap of the wall on that cpr letter sent a week later

 

the only dca this will be passed to is lewis

thats welcome in house dca

 

its pure crap as usual

 

they have bigger things to worry about now in your second letter

[Gram1]

that letter was sent before we sent ours

 

they are prob still picking the crap of the wall on that cpr letter sent a week later

 

the only dca this will be passed to is lewis

thats welcome in house dca

 

its pure crap as usual

 

they have bigger things to worry about now in your second letter

 

cheers.

 

do you think i should just sit tight then and not phone them?

I currently havent made a Dec payment yet (and cant really afford to)

Should i contact them about this and offer a token payment or something or to try to agree a repayment proposal? or just ignore and wait to see what they do? Just worried about the arrears rising and them getting more serious.

[postggj]

its allways best to arrange a repayment proposal while we get the account put into dispute

 

by all means phone them but whatever you agree

 

get it in writing and dont let them bully you

 

they are very good at the mind games

[postggj]

we have them on the default notice and mif

 

the most welcome could claim are just the arrears up to the default notice

 

the rest is history if it went legal

[Gram1]

my agreement didnt have a mif on it. but yes the default notice didnt have a date, just 14 days.

 

ok i will phone them and tell them i am writing to them with a payment proposal to cover the next 6 months, just to try and keep me covered in the meantime.

[Gram1]

 

the most welcome could claim are just the arrears up to the default notice

 

the rest is history if it went legal

 

so do u reckon we could ge tthe rest written off then?

[postggj]

only if they issue a court claim

[Gram1]

only if they issue a court claim

and if they didnt what would happen. the account left in limbo?

[brassed-off-2]

Welcome issue a court claim, has that ever been know ? Post.

[postggj]

well the ones i know of welcome withdraw after a defence goes in

[Minkeymoo]

I have spoke to welcome today as I also have a secured loan and i half expected the threat of legal action down the phone but for the first time ever they were very very very nice to the point i was shocked.

 

I was already in arrears from whe i was made redundant so was apying of £25.00 extra each month and then i found out their was a separate pot of money which is your default amount and they dont add the two amounts together so be careful of this.

 

I made a new arrangement and she did say your home could be at risk but just wanted to make me aware but nothing harsh.

 

I would call them as i think they are willing to except anything as they are running down all their loans as they are not allowed to lend anymore money out.

 

I cant wait unti the FOS looks at my file, hopefully mine will get cleared as it was never done right from the start.

[Gram1]

Thats interesting.

 

They phoned me today too, and im amazed it has taken this long.

They tried to take the Dec payment on 29th which didnt go through and whenever that has happened in the past they have phoned straight away and been quite pushy and a bit threatening regarding charges/defaults/home may be at risk etc. They have always phoned the very next day, maybe 2 at most but never more than that.

 

Today was the first time they phoned since Dec29th, and as with your conversation they were relatively nice - easier to deal with than normal. I said i would pay the missed payment later on in the month, that was accepted and that was the end of it.

 

Normally they would try to get me to up it to pay the arrears off quicker, or demand at least a part payment there and then. None of that this time.

 

Are they simply now just happy to get whatever they can?

 

I wonder i wonder.

 

Makes me all the more interested in trying to offer a reduced full&final settlement to see what they would say in case they aren't in a position to say no. hmmmmmmm.

[Billy goat gruff]

I have been following the thread of all this with great interest and am in a very similar position. I apologise if it appears Im hijacking but my situation is very similar. We have a secured loan with `Welcome` for £12000 and took it out January last year. Currently in 2 months worth of arrears. As I understand it from what I have read its possible the agreement we signed could be flawed? We went thru a broker/introducer called "1st Step" my suspicion is maybe a commission was paid? Im guessing my first option would be to write and ask for a copy of the signed agreement?

[Billy goat gruff]

Got a letter from Welcome Finance today to say they are now going to charge £10 default fee. Has anyone got any practical advice on what I can do please?