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Reposession or Settlement?? and why has welcome dissapered off my experian


Stef1985
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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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Also my original car loan was for around £8,000 i have been paying £300 per month for 4 years. i have miss 5 payments over 4 years and had a 1 month repayment holiday,

 

So i have paid £12,600 yet i still owe £7,775

 

Figures don't add up to me

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Hi,

 

Im just looking through my agreement and spotted this,

 

TERMINATION: YOUR RIGHTS

You have a right to end this agreement. To do so, You should write to the person you make your payments to. They will then be entitled to the return of the goods and to half the total amount payable under this agreement, that is £5,273.12. If you have already paid at least this amount plus any overdue instalments and have taken reasonable care of the goods, you will not have to pay any more.

 

Does this mean i can return the car and owe nothing now?

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have you got any ideas why they have diapered off my experian report?

 

just phoned welcome and they have no record of me on there database, only an application.

 

Now i don't want to get excited to soon but do you think i might have mistakenly been written off.;)

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Unfortunately its still showing the hpi,

 

Also looking back on my old statments i get charged every month;

 

JULY HDPI FEE: £39.94

JULY CAPITALISATION: £39.94

 

AUG HDPI FEE: £41.16

AUG CAPITALISATION: £41.16

 

SEP HDPI FEE: £43.60

SEP CAPITALISATION: £43.60

 

NOV HDPI FEE: £45.48

NOV CAPITALISATION: £45.48

 

DEC HDPI FEE: £46.06

DEC CAPITALISATION: £46.06

 

What are these charges and how come they rise every month?,

Will they stop rising?

 

Cheers

Stef

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well yes but welcome have this wonderfful system to screw you if you miss a payment

air

thats annual interest rate

 

if you missed no payments then they have some explaning to do

 

they have prob calculated interest a day before your payment

 

thats another welcome con

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