urgent help needed with welcome finance

[wasp2005]

Hi,

I took out a loan with welcome finance 2 years ago last oct for £2000, over the two years i have missed 2 payments, 1 in each january. now instead of it being paid off in full, i am still making payments of £250 per month instead of the £184, to try and get it cleared. What i do not get is i have still got arrears of £600 on my account (when it was due to be paid in full it was over £1200).

I am trying to claim back my ppi, i have recieved my subject access request from them in november, and i replied with the next letter giving them 8 weeks to reply before i go to the ombudsmen. but now the 8 weeks are nearly up i am at a loss to what letter i need to send next, and what to expect from them i.e when do they normally make an offer?

 

during all of this i have continued to pay them the £250 per month, however i was due to pay them this week, and they phoned up to get my payment, but i did not have the money to pay them as money is extremely tight just after christmas, and i have extra bills to pay this month. I explained this to them on the phone, and spoke to the normal jumped up person, who is always talking down to you ( even visited us on our market stall in our town, to remind us our payment was due before 5pm that day in sept). I told him that i am not refusing to pay, but i cannot make a payment for 2 weeks. He then went on to tell me that i was defaulting on my loan, and he then asked me who i had to pay that day, and how much it was for. I told him that i was not telling him such personal information all he needed to know was that a payment i wasnt expecting had come out of my bank, and there was no money to make that payment. he then told me i was defaulting on my loan and that because my circumstances had changed he needed to see my bank statement for tuesday, so that he could see exactly who had been paid, and how much. I have to say that by this time i was fuming down the phone at him, and i told him that i knew he had to record the conversation on his computer, and that i wanted him to write down clearly so that it was on record, that i am not refusing to pay, and that i will pay it in 2 weeks time.

 

what i need to check is, do i have to legally show him my bank statement, or is that just another thing that they make up. I told them that i would bring the statement down on friday, but i really dont see why i should? All i really want to do is phone them up on friday and tell them that i am not bringing in my bank statemnt,because i dont have to, and that i am refusing to pay any more money to them for all the interest that is left on my account,that has appeared from nowhere! What could be the worst that they can do?

 

I know this is a really long thread, but i really need help to try and give them some of there own medicine, and to let them know that they cannot walk all over me anymore. I really have had enough of them!

[lostinspace1000]

you do not have to show anything to these people, if you cant make the payment then thats that. As for a default (a default only requires you to pay the arrears not the full outstanding balance)...its bully boy tactics. send them letters (reg post) explaining the situation, ok they dont read them but if you keep copies and it goes arse up you can then turn around to an outside body and show them what you've done. I had problems with these monkeys, they never bothered with my requests in the letters until one day i started to talk about going to the OFT and trading stardards. if the interest isnt that much maybe you would be better paying it off and getting these monkeys of your back. once your free of them you can pursue the interest, if your pursue it while your still owing to them they will probably make things difficult for you.

Edited January 27, 2010 by lostinspace1000

[wasp2005]

I would love to be able to pay them off in full, but it is just not an option as the funds are not there. so my only option is to deal with them, and to try and claim my ppi back from them.

[lostinspace1000]

ppi you should get that back no problem... remember your still paying interest on it with these monkeys. the majority of your initial payments go towards your ppi and interest.