welcome finance help

[paulaiks]

hi guys

 

i have had a loan with welcome for over 2 years now and still owe£1400

how do i go about asking em to settle early and how much i should offer em

 

ie do i need to write a letter or phone them saying im struggling and can pay say £700 cash right now and close the acc???

 

 

someone plz help as i want this mob of my back

 

thanks in advnce

[beyondhope]

Hi again paul just to reiterate I wouldnt do anything by telephone everything in writing coz theres likely to be some vulture on comission on the end of the phone agreeing with everything you say to get their hands on your £700 then sooner rather than later you will be chased for the rest if you want to make an offer maybe write to them and make clear it would be FULL AND FINAL if they accept and to please send their agreement to this in writing so you have it in black and white also i would when sending payment (if they agree) request confirmation again that the sum has been paid and is full and final

[paulaiks]

Hi again paul just to reiterate I wouldnt do anything by telephone everything in writing coz theres likely to be some vulture on comission on the end of the phone agreeing with everything you say to get their hands on your £700 then sooner rather than later you will be chased for the rest if you want to make an offer maybe write to them and make clear it would be FULL AND FINAL if they accept and to please send their agreement to this in writing so you have it in black and white also i would when sending payment (if they agree) request confirmation again that the sum has been paid and is full and final

 

 

thanks m8

any chance you could draft me up a template letter of some sort (im not that good at these things

any help would be greatly appreciated

[beyondhope]

yep no worries ill be back in 5

[ozzywizard]

Let it go somthing like this......

 

WELCOME FINANCIAL SERVICE

COMPLIANCE

RUDDINGTON FIELD BUSINESS PARK

RUDDINGTON

NOTTINGHAM

NG11 6NZ

 

Dear Sir/Madam

 

 

FULL AND FINAL SETTLEMENT OFFER

 

Re: 4563210025897412

 

We write with reference to the money which you are claming on the above account.

 

We can confirm that we are unable to offer to pay the money which we owe in full. However, I can raise £700 and I want to offer this as an ex−gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that we will be released for any liability.

 

We also request that, if accepted, you will make an entry on a credit reference agency file relating to the above account as "satisfied" in full.

 

Payment can be made within 14 days of receiving your written agreement of this offer and method of payment.

 

We look forward to receiving your reply within 14 days of this letter.

 

Yours faithfully

 

 

send recorded delivery.

[beyondhope]

Thats much better than mine use that

[ozzywizard]

Oh sorry Beyond, I started that post before the OP asked you or I would not of jumped in . . . haha . . . my letter was based on your first post anyways lolllll....

[paulaiks]

Thats much better than mine use that

 

 

hey guys thats greeat

 

you rekon i should try £600???

[ozzywizard]

What is your monthly payment and when is it next due ?

[beyondhope]

Not to worry Ozzy better too many hands in the pot than not enough

 

Put whatever figure you want paul can always up the offer

[paulaiks]

What is your monthly payment and when is it next due ?

 

i pay 33 pound a week

 

?????

 

and next payment due every friday

[ozzywizard]

Over to you beyond, i gots to go watch tv with the wife. hahaha. . .

[paulaiks]

Over to you beyond, i gots to go watch tv with the wife. hahaha. . .

ps m8

whats the chances of them agreeing to this???

[beyondhope]

Over to you beyond, i gots to go watch tv with the wife. hahaha. . .

 

Yes i would if i was you it is valentines day after all

[beyondhope]

ps m8

whats the chances of them agreeing to this???

 

Abit of a lottery I dont think anyone can say for sure yes or no if any offer would be accepted but if you dont offer you will never know

[paulaiks]

thanks lads

ill keep you posted

[beyondhope]

but im a girllllll

No worries yea do keep us informed

[ozzywizard]

i pay 33 pound a week

 

?????

 

and next payment due every friday

 

Stop all payments whilst the offer is in progress, put the payments to one side for negotiations..... this is important as the timescales we have given could give them extra 165 pounds also they are more than likely to say yes if the payments are stopped. good luck keep us informed.

[paulaiks]

We write with reference to the money which you are claming on the above account.

 

We can confirm that we are unable to offer to pay the money which we owe in full, and will be forced to sto payments. However, I can raise £600 and I want to offer this as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that we will be released for any liability.

 

We also request that, if accepted, you will make an entry on a credit reference agency file relating to the above account as "satisfied" in full.

 

Payment can be made within 14 days of receiving your written agreement of this offer and method of payment.

 

We look forward to receiving your reply within 14 days of this letter.

 

Yours faithfully

 

 

sent rec delivery today

also added the bit that i will be forced to stop payments

[paulaiks]

ps what happens if i stop the payments???

[beyondhope]

just the waiting game now! i wouldnt imagine much would happen for 2wks worth of payments just keep them aside as they may become a good bargaining tool

[paulaiks]

i aint stopped payments yet m8 only threatened that would happen if they didnt accept the offer ???

[ozzywizard]

If they do not accept offer you really need to keep the payments up unless you have justified reason not too and it isnt leaving you in hardship etc. . see what they say and make a decision then.

[paulaiks]

still heard nothing

[paulaiks]

just had letter back saying no way

 

they would accept £1000