Secured loan at Welcome

[silverrocket]

I have a secure loan with Welcome - taken out to improve my credit score. I have had no issues paying the monthly payment, and haven't missed a single one since taking out the loan.

 

After seeing the news about them on here I'm wondering if it's worth a punt at a F&F settlement?

 

The amount is about £15k, but like I say it is secured, and the equity is there in my house to cover it.

 

Advice?

[emanevs]

I have a secure loan with Welcome - taken out to improve my credit score.why would you take out a 15 grand loan (secured) to improve your credit score???? I have had no issues paying the monthly payment, and haven't missed a single one since taking out the loan.

 

After seeing the news about them on here I'm wondering if it's worth a punt at a F&F settlement?

 

The amount is about £15k, but like I say it is secured, and the equity is there in my house to cover it.

 

Advice?

 

My advice is keep paying, and your credit score will be fine.

[silverrocket]

Because taking out credit, and repaying it without missing any payments shows a good credit history.

 

I realise that if I continue paying my credit score will be fine, nowhere did I ask that. I asked for advice on whether a F&F would be considered by them.

 

Why post a useless response?

[beyondhope]

I would say if you are in a position to offer one go for it the worst they would can say is no thanks we want x amount

[silverrocket]

Many thanks for your input.

 

Any ideas on percentage?

 

Does anyone have the contact address and phone number for Welcome?

[Major Player]

Many thanks for your input.

 

Any ideas on percentage?

 

Does anyone have the contact address and phone number for Welcome?

 

 

http://www.consumeractiongroup.co.uk/forum/welcome-finance/247673-offering-short-settlments.html

 

Hi have a look there to see what might be acceptable, like I say in the post there needs to be some "Science" behind the numbers, for example if you said that you can only borrow £XX or you have already paid back £XX.

 

I wouldn't mention the fact that they are desperate for cash as they might think badly of your approach and decline it, just ask, give reasons and I'm sure they will play ball!

 

Address or contact details depend on where you are in the Welcome machine, if you have a local branch that could be your best bet.

 

A central number is 0800 588 4019 but you should write your offer into them, I would suggest writing to the compliance team:

 

Welcome Finance

Ruddington Fields

Mere Way

Ruddington

Nottingham

NG11 6NZ

[beyondhope]

good advice again major

 

silver i had a letter offering a 35% discount on my unsecured loan this wk

[silverrocket]

Many thanks to both of you.

 

Tell me if I'm being rude, but would you mind if I asked if you've missed any payments?

[beyondhope]

Dont think you are rude at all yes we have missed some payments on the loan cant remember how many off the top of my head but i would guess around 6ish plus the ones since its been in dispute and with the fos

[silverrocket]

Well the letter is going into the post on Friday and when I get a response I'll let you all know the news!

[beyondhope]

Best of luck