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Your advice please....


Impending Ulcer
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Hi everybody, great forum, hope you can point me in the right direction!

 

I have recently discovered that my girlfriend has a loan with these Welcome Finance people, I was shocked to find out that its an unsecured 15k loan over 120 months at £375 a month. Its only an 18 month old loan so there's around 38k outstanding balance. She has never missed a payment and I dont believe there is any PPI.

 

I'm currently trying to help her with her finances as she's only just keeping her head above water and the worry is having a detrimental effect on her health. Its not doing my stress levels much good now I know about it either!

 

I have read on here that WF are being slowly flushed down the toilet, big shame! With such a large balance remaining over the next 8 and a half years does this leave us in a good position to negotiate a good settlement figure or as she's paying up on time will they drag it out for the duration of the loan by giving a poor settlement figure?

 

I'm really looking for any tips or advice anyone can offer that may help her to reduce this obscene debt, I'm willing to do pretty much anything to help her so effort is not an issue.

 

Any help would be much appreciated.

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scan your sheets/agreements

remove all pers info inc barcodes etc but leave all figures and dates.

goto one one of the many free online pdf converter websites

convert the image to pdf format.

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

browse to your pdf file and upload it

hit close this windows at the bottom below upload it box

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Hi, thanks for the response.

 

I have a problem, for one reason or another the paperwork is not available. Is there anything that can be done about this? WF arent the sort of company I'd trust not to doctor anything they send out, so I'm wary about requesting a copy.

 

I also have since found out its a secured loan rather than unsecured as I originally said.

 

I realise I'm not making this very easy for you and I'm sorry about that. This all happened before I was on the scene.

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Hello and Welcome, Impending Ulcer.

 

I'll move this thread to the Welcome Finanance Forum.( oops, your already here !!!)

I'll send you a Private Message with the 'link'.(Forget i said that)

 

Welcome anyway.

 

Regards.

 

Scott.

Any advice I give is honest and in good faith.:)

If in doubt, you should seek the opinion of a Qualified Professional.

If you can, please donate to this site.

Help keep it up and active, helping people like you.

If you no longer require help, please do what you can to help others

RIP: Rooster-UK - MARTIN3030 - cerberusalert

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then you need to cca them

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thanks dx, thats a cca request right? I'm just having a bit of a read up on this stuff as I'm really not sure how to go about things like this.

 

What information would I need to present them with in order for them to have a chance at fulfilling the request?

 

Sorry for the questions, this is all brand new to me.

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not at all

 

yep a cca request cost £1 [blank PO]

 

just make sure you list any others addresses that she might have lived at during the time of the agreement & their A/C number

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Has she been receiving a yearly statement? I only ask as interest isnt payable where statements havent been issued. I would say as she is a 'good payer' they will drag out as long as they can but never say never if you are in the position to short settle make the offer in writing request confirmation that it would be full and final settlement in writing by return and dont pay that settlement until it is in black and white because they are snakes and would take what you thought was settlement and then chase you for remainder. any negotiations need to be in writing to protect yourselves :)

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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