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Welcome Finance, now UKSEARCHLIMITED.. What to do?


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Hello everyone,


Firstly I'd like to say.. I was unable to find a post which matches my situation so I am starting a new thread.


Also, big thanks to everyone who contributes to this forum, it really is a fantastic community. Hopefully I can give back somehow, for any advice which I receive. Anyway, to the problem.


In 2005 I took out a loan with Welcome Finance for 2k, I do not remember on the form if I was misold PPI.


I paid back a few payments, but I then lost my job and fell way behind with the payments. I basically lost control of my finances at that point and fell behind on all sorts of financial agreements.So anyway, here I am five years later, far more responsible and I have a proper bank account, and have paid off all accounts registered on my credit file which were unsettled, except for one...


Welcome Finance have a debt of £ 5,769 registered against me on my credit file.


From reading lots of threads on here, I can see that I could probably fight WFS and win by using some letters to claim they didn't follow rules when registering the default etc. However, I emailed WFS asking them to provide paperwork about my loan. I heard nothing back, but then I received a letter in the post from a debt company called UKSEARCHLIMITED asking for an amount of £2622.99 for their client Welcome Finance.


My question is, what should I do now? I do want to clean my credit file, but from what I will be paying hugely over the odds if I pay 2622.99, since I paid off at least half of the full loan amount before defaulting.


I am going to be attempting to get a mortgage next year, and obviously this is why I want to get this matter sorted.


Any help and advice is hugely appreciated. Cheers

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Tell this dca you dont know who they are and demand a deed of assignment letter from them and welcome BEFORE you will acknowledge anything.

SAR welcome (cost £10.00) get all the details you require and reclaim the charges etc.

Q.when in 2005 was this taken out...I'm thinking statute barred here(6 Years)

DEF. need a second opinion on this though

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Hello there,


Thank you for your response. I have checked my credit file and it appears that I took the loan out on 10/02/2006, so a bit later than I originally thought :S


I am going to follow your advice and demand a deed of assignment letter first, from both the DCA and Welcome and see what they say.


At the same time I will start with an SAR against Welcome and again see what the response is. From what I have read, the road ahead is a long one, but well worth it.


Unfortunately for me I will be trying to get a Mortgage in February, so if I can get one at all then I don't think it will be a very competitive interest rate

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adamaxeman..........welcome, excuse the punn...........the loan account is a longway of statute barred,do you have all the statements from Welcome showing PPI payments as well as your loan payments,if not you need to SAR Welcome to obtain all these details,this will give you all the information on charges and added interest as well,this has got to be your first route............be specific in what you ask Welcome for in your SAR.......you need all statements,copy of the signed agreement and copy of PPI agreement,and all other data they hold.........you are correct it will take some time to reach closure on this debt so your Mortgage in February?????????your credit file gives you the date of your loan,are there adverse comments by Welcome against the entry??????????If you want to contact UKSEARCH,tell them you have no idea who they are and no idea what debt they are referring to,this will slow them down.......do not phone them or email them get every thing in writing.The SAR they have 40 days to respond.................regards...........FS

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OK new dates rule out the statute barred part....also confirmed by FS. Chase up the LOA and SAR requests.Here is a link to a good one from postggj... http://www.consumeractiongroup.co.uk/forum/showthread.php?285911-Welcome-Finance-Help-With-Letters-Please


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