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Write off Secured Loan

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I have a secured loan. I have paid back £17,000. The original loan amount was £17,000. After 7 years of paying monthly I still owe £17,000!! I have noticed template letters on the internet to request debt write off. Does anybody know if this has ever worked for a secured loan? The loan is with Welcome Finance. Many Thanks

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On what grounds would you be asking them to write off the loan? As it's secured, I'd say there's next to no chance of them doing so.

 

There are other ways to approach this though. Start by requesting a copy of the agreement (cost £1) and do a subject access request (£10). Send both letters, in the same envelope if you want, by at least recorded signed for. Most people would say print your name and don't sign, but I would suggest signing as normal and then putting a line through so any attempt at a cut and paste job will be obvious.


RMW

"If you want my parking space, please take my disability" Common car park sign in France.

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I have a secured loan. I have paid back £17,000. The original loan amount was £17,000. After 7 years of paying monthly I still owe £17,000!! I have noticed template letters on the internet to request debt write off. Does anybody know if this has ever worked for a secured loan? The loan is with Welcome Finance. Many Thanks

 

Very interested on how you got on with this. Could you please PM me? Thanks.

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