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Welcome finance secured passed to MKRR??


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we have a so called secure loan with welcome finance , we got behind with payments a while ago they hassled us for a while but then just stopped , we had the odd letter we have never had a default even though we havent made a payment for ages, this was a third charge and i still cant believe they managed to get it secured or even bothered as there was no equity in our property , and there definatley isnt now, we have been trying for a few months to sort out some payment arrangement but nobody from welcome was able to talk to us about it as they didnt seem to know much about it???? anyway i recieved a letter this morning from a company called MKRR stating that they were writing with the objective of finding a solution to resolve the debt ? i rang them up to make an arrangement and were told that they now owned the debt, how come i wasnt aware of this??? shouldnt i have been notified?? and also on my credit file welcome have listed this as a morgage and its a secured loan, the bloke at MKRR even said it was a secured loan not a morgage . is it worth me looking into the original agreement to see if its valid or not and could i complain about it being a secured loan when there was no equity in my property when they secured it???

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It may be worth you sending a CCA request and Subject access requestlink3.giflink3.giflink8.gif to have a look a what Welcome have been doing to your account.

CCA should be returned to you within 14 days and Subject access requestlink3.giflink3.giflink8.gif can take up to 40 days. (included in the Subject access requestlink3.giflink8.gif should be all info regarding your account including statements which should tell you the information you require regarding charges etc).

The CCA will cost £ 1 (postal order) send recorded delivery.

The Subject access requestlink3.giflink8.gif will cost £ 10 (postal order) send recorded delivery.

When sending these requests do not signlink3.giflink3.gifyour name just print.

 

Letter templates below.

http://www.consumerforums.com/resour...request-letter

 

http://www.consumerforums.com/resour...est-debt-a-dca

 

Once you recieve your documents post them up on your thread and the more experienced on here will lend a hand.

 

Send to..

Welcome Finance Compliance Services Mere Way Ruddington Nottingham NG11 6NZ

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thanks for that i will do , and thanks for the address as i had no idea where to send anything , i just hope they are more understandable than the ones i recieved from black horse:)

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agree with pwg! good luck :)

I am a consumer just like you, please get a second opinion or investigate yourself on anything I advise as I am in no way legally trained. Everything I know has come from the Mighty CAG and fellow CAGGERS. :cool:

 

If I have helped in any way please click my reputation star and make a donation to CAG to enable us all to continue to help each other :cool:

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If MKRR do truly now own the debt you should have received a Notice of Assignment. Ideally this should have come from the selling company, but it seems generally comes from the purchasing one.

 

You basically want to see that NoA, if it exists. I've been trying to think of the best way to get it. I don't think there is any provision for it to be provided to you under a CCA request. If it has been sold Welcome should respond to your CCA request telling you this and returning your postal order. You could then send the CCA request to MKRR.

 

So I agree, send the CCA and SAR requests to Welcome, and write a letter to MKRR asking them to prove they now own the debt. Tell them you have not received a NoA and want a copy of it.

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what i want to know if welcome have sold this debt to MKRR , how can it still be a secured loan??? MKRR told me they now own the debt so they have obviously bought if from welcome , i also mentioned when i rang MKRR that when we took the loan i couldnt understand how they managed to secure it on the property as 1. we had no equity and 2, we already had a second secured loan and were only able to borrow a certain amount because it was the maximum the morgage company would allow, he said if there was was no equity he couldnt see why they would secure it as it wasnt in their interest as they would not get anything if the house was sold.

i also want to see the original agreement as this was the second agreement for the same loan as they did something to reduce the original payments and we were supposed to sign these obviously but i dont remember doing this , and another thing if this debt has been sold on then the entry by welcome on my credit file by welcome should read settled shouldnt it as i no longer have a debt with them?

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really! ill mention that when i next ring them then, i think i can feel a complaint coming on , is there any valid phone numbers available nowadays for welcome?

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i have checked my credit file and its still under welcome but hasnt been updated since february, also its down as a morgage on my credit file and it isnt it was a secured loan ive contacted experian about this and they are looking into it , i even mentioned to mkrr they said it was a secured loan aswell,

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It's definitley NOT one of Welcomes subsiduaries. When it a debt gets passed to the Lewis Group, that is definitely still with the Cattles group, and TLG share the same systems with Welcome, and it can be passed back and forth. There is no such connection with MKDP, the loan has irrevokably been disposed of, and shows as a zero balance on all Cattles systems. If it is a part of the Cattles group, then it has been completely hidden from everyone I know, including senior management.

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THIS COMPANY IS ONLY 7 MONTHS OLD:D

 

Name & Registered Office:

MKDP LLP

TRADE PRO HOUSE SEEBECK PLACE

KNOWLHILL

MILTON KEYNES

BUCKINGHAMSHIRE

MK5 8FR

Company No. OC349372

 

 

spacer.gifspacer.gifspacer.gifspacer.gif Status: Active

Date of Incorporation: 16/10/2009

 

Country of Origin: United Kingdom

Company Type: Limited Liability Partnership

Nature of Business (SIC(03)):

None Supplied

Accounting Reference Date: 30/06

Last Accounts Made Up To: (NO ACCOUNTS FILED)

Next Accounts Due: 30/03/2011

Last Return Made Up To:

Next Return Due: 13/11/2010

Previous Names: No previous name information has been recorded over the last 20 years. UK Establishment Details There are no UK Establishments associated with this company. Oversea Company Info There are no Oversea Details associated with this company.

System Requirements

 

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It's definitley NOT one of Welcomes subsiduaries. When it a debt gets passed to the Lewis Group, that is definitely still with the Cattles group, and TLG share the same systems with Welcome, and it can be passed back and forth. There is no such connection with MKDP, the loan has irrevokably been disposed of, and shows as a zero balance on all Cattles systems. If it is a part of the Cattles group, then it has been completely hidden from everyone I know, including senior management.

 

MAY I ASK WHAT CONECTION YOU HAVE WITH CATTLES

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