Jump to content


The Welcome shutdown rolls on


Pitsy
style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 5064 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Was a direct comment via a senior collections manager who works at the Birstall HO.

No great surprise with the branch closures, because as leases expire on premises the local branches are being shutdown, and with that a reduced need for area management, the loan book is closed and its a winding up process which expected to take 2-3yrs.

 

I'm just surprised that the press have not got wind of the closure/redundancy process which has been going on for months.

 

My guess is that the main aim now is to cutting costs and to eventually bring all payment collections under one roof via Nottingham or Birstall, and leave Lewis to collect any debt.

Link to post
Share on other sites

So what do you think would happen to loans outstanding in 2-3 years time when it is expected to wind up? I think I have around 7 years left thats all?

 

 

Turk.

Link to post
Share on other sites

Who knows, maybe a very small collections outfit will remain until the loan book is cleared, or possibly passed to the Lewis Group (who are Welcomes debt collector who are also part of the Cattles), I doubt very much that any outstanding accounts will be walked away from, simply farmed elsewhere.

Link to post
Share on other sites

19 branches closing in June and 30 area managers to go :grin:

 

 

:grin::grin::grin: nuff said from me

 

as for collections I dont think any will be 'forgotten' some other scumbags will no doubt take them over

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:

Link to post
Share on other sites

RBS faces £500m loss on Cattles - Telegraph

 

Just reading through the articles on the internet and hadn't realise until now that not only did welcome make a loss but the lewis group made a loss of £5m compared to the previous year's £10m profit.

 

So I can't see anyone being interest in buying the lewis group especially if they are depending on welcomes bad debts.

Link to post
Share on other sites

That is what I was thinking... surely no-one would look at buying the debt twice if all companies associated were making huge losses. If they did get bought out then i'm pretty sure that there would be plenty of room for us to haggle!

 

Maybe we could all club together as a co-op and buy it - sort it and then run it fairly?! :)

 

 

Turk.

Link to post
Share on other sites

22 banks in Welcomes syndicate with RBS having the most to lose, not only was there a huge loss for 08/09 but the figure was 250 million higher than was originally thought, and with the 09/10 figures expected in the coming weeks (which are also expected to show a huge loss), just how long can this situation continue??

Link to post
Share on other sites

22 banks in Welcomes syndicate with RBS having the most to lose, not only was there a huge loss for 08/09 but the figure was 250 million higher than was originally thought, and with the 09/10 figures expected in the coming weeks (which are also expected to show a huge loss), just how long can this situation continue??

 

 

If it wasnt for RBS then this would have been over long long ago! Clutching at straws springs to mind, I know they are just trying to claw something back but seriously its like pushing water uphill with losses that big imo

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:

Link to post
Share on other sites

would be interesting if we could find out what offices have closed. I havent heard a thing for over 3 months now about reclaiming my insurance or even a new agreement being sent out. they said my local office was sending one but I have yet to hear a peep out of them. Not even a reply to my letter I sent them to remind them.

 

just as well my account is officially in dispute as no doubt, once an office gets round to it, they will try all sorts on about late payments and charges etc...

 

least I still have the letter agreeing its in dispute and what they are currently doing about it. It offers me a little bit of protection.

 

I currently have no idea what is going on and whether I will hear from them at all or not.

Link to post
Share on other sites

I handed my property back in January and now it is sold the secured welcome loan is now unsecure and hopefully going to be added to my existing IVA. Been dealing with a woman at my local office who I have to say has been very understanding (maybe she knew they're not getting all the money back or it was my couldnt care less attitude now I have no assets)! Anyway today I received a letter from Nottingham stating I have 14 days to pay £25,000.51 or they start proceedings, phone my branch and was told that certain accounts are no longer being dealt with by them and I must contact Nottingham. Looks like they are winding down! The guy I spoke to at Nottingham acted all clever saying they won't agree to it going into my IVA so I told him I'd simply file for bankruptcy and see how much they got then!!! Then he said well Payplan better get a move on and sort it out within 14 days or legal proceedings will commence. I reminded him that I'm sure a judge wouldn't like the fact that they took me to court when I'm trying to sort out the debt with a professional company such as payplan!! He says my account is on hold until Payplan contact them!

Link to post
Share on other sites

How are they going to pay for legal proceedings if they have got no money and what law firm in there right minds would represent them.

 

PF

Finally if you succeed with your claim please consider a donation to consumer action group as those donations keep this site alive.

 R.I.P BOB aka ROOSTER-UK you have always been a Gent on these boards and you will be remembered for that.

Link to post
Share on other sites

they are actually trying to sell the company for about £5m to a "charitable organisation" so I have read. Works out about 1p a share and the shareholders are not a happy bunch. They fighting tooth and nail to have them shut down and are looking at a no confidence vote in the current board.

Link to post
Share on other sites

i have hp on my car, the agreement was over 3 years, which ends in a couple of months, i requested a statement from them some time ago and recieved it in november last year which stated i still owed £4k?? i put the account into dispute with the head office and local office, my account manager came out to see me and then admited it was £1000,00 over, they had added my deposit to the agreement!! i sent them a letter (recorded delivery of course) stating that the contract was nul and void as they has mis represented the figures, not only was my deposit added to the agreement instead of bieng subtracted, it had also been charged interest on and the interest charges were incorrect as to the amount of money the payments was, lots of discrepencies, the local manger phoned me about a week later and said the agreement was perfect, and that i was now in arrears and the account was in default, i recieved the default notice after,i contacted him back stating that welcome had just broke the law as the account was in dispute they were not legally allowed to default the account or add default charges, he said head office was going to contact me.....they never did, i sent another letter in january, recorded again, stating they had 14 days to return all monies paid under the illegal contract or i would persue in court, and reminded them that due to the fact their vehicle was in my secure possession i will be charging them £20 per day for storage, and any additional costs incurred through insurance, tax mot etc. i still havent heard anything, is this why? guess the car is worth about £2500 now, ive paid well over £5k, what do you think i should do now?

Link to post
Share on other sites

Let me get this straight.

 

You told Welcome via a letter you were charging THEM £20 a day for storage?

 

Absoloutley PMSL

 

Thats superb

Yorkshire Bank Plc £3553.77 Prelim letter sent 14/9/06 LBA sent 22/9/06, MCOL Sent 10/10/06 MCOL Notice of Issue Rcvd 12/10/06, MCOL Acknowledged 17/10/06, £929.00 Offer Rcvd, 03/11/06 - Rejected, 09/11/06 YB Defended, 10/11/06 Transferred to Local Court, AQ Returned;) 30/11/06 Copy of Banks AQ Received, 1 month extra asked for by Clydesdale, 09/01/07 £2140.00 Offer Rcvd, 09/01/07 - Rejected, 11/11/07 Allocation To Small Claims Track, Court Date Set - 05/03/07, 15/01/07 £2590.00 Offer Rcvd, 15/11/07 - Rejected, 07/02/07 £3773.77 Offer Rcvd (FULL), 12/02/07 - Accepted, 21/02/07 - Chq Received for FULL AMOUNT. :)

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...