welcome finance settlement offers

[ninja22]

Hi, my name is Michael and I was just wondering if anyone could help me. A few weeks ago I came into some money and decided to put in an offer to welcome finance for £3500 (my total I owe them is £6950), so thought this was a good offer. A few days after I had wrote to them They phoned me and said that unfortunately they are no longer able to accept offers other then full payment as of November 2010, although he said that this was a good offer. The thing is I have read a lot of blogs on welcome and have seen that people have been made offers.

Was just wondering if anyone has received offers from welcome or have any advice on what I can do to get them to accept this offer.

Thanks

[wannabedebtfreesoon]

It would be unlikely they would accept an offer on an account that was in good order. It's usually only accounts that have arrears or payment difficulties that offers are considered.

[rebel11]

Hi nin

 

Welcome to CAG

The guys will advise as soon as they are available.

 

Have a read of number (9) in my signature.

[jj69]

Hi, my name is Michael and I was just wondering if anyone could help me. A few weeks ago I came into some money and decided to put in an offer to welcome finance for £3500 (my total I owe them is £6950), so thought this was a good offer. A few days after I had wrote to them They phoned me and said that unfortunately they are no longer able to accept offers other then full payment as of November 2010, although he said that this was a good offer. The thing is I have read a lot of blogs on welcome and have seen that people have been made offers.

Was just wondering if anyone has received offers from welcome or have any advice on what I can do to get them to accept this offer.

Thanks

 

Im guessing it depends on the branch , my account is in good order but I am getting offers of discounts on this account from my local branch although it's pretty poor at about 15-20% whereas I would prefer 50-60%.Im in the same boat have the money but am not going to pay them, as Welcome are in default it's likely the accounts may get shipped elsewhere and perhaps get a better discount offer from the new account holder.My advice is dont bother speaking to them on the phone write with an offer to the local branch and head office, go for broke say 60-70% and see what they come back with.I honestly think the longer I hold out the more chance I will get on a better discount.Is this a HP loan or just a personal loan ?

[MrZ]

For what its worth, when I got my SAR reply there were two letters for an offer of settlement that were never sent to me. The were both dated the same day and took the exact format etc. One was to settle 35% off the balance and the other for 65% off the balance. I never asked for a settlement amount nor did they ever send the letters. However it appears that they were considering making me an offer. I dont know if they intended to include those letters in the SAR or not, but I found it interesting to say the least.

 

Make an offer of say 10p on the pound and see what they say. You have nothing to lose. Who knows they might just accept it. Start very low though. If they dont accept put the money aside for a rainy day.

[ninja22]

Thanks for the advice , I Will write a letter to my local branch as well as the head office. Then post what they said.

[Ell-enn]

Any letters you send to Welcome should be by recorded delivery otherwise they will simply say they never got them. Don't expect a reply from your branch - apparently branch employees are not allowed to write letters (not sure if it's because they're incapable of constructing a letter ).

[jj69]

Any letters you send to Welcome should be by recorded delivery otherwise they will simply say they never got them. Don't expect a reply from your branch - apparently branch employees are not allowed to write letters (not sure if it's because they're incapable of constructing a letter ).

 

Lol...they have snapped all their crayons....I agree everything recorded dont trust these guys no matter how nice they are on the phone..play it savvy and I reckon you will get a big chunk off..

[ninja22]

Are you still paying your monthly bill.

Mine is a personal loan

[jj69]

Are you still paying your monthly bill.

Mine is a personal loan

 

I am still paying only because it's a HP loan on a car and I am in the process of VT therefore need to avoid a default.I can afford the monthly payment , but my Manager lied to me saying I still owed xx amount and not to VT or VS car which is bull , he wanted me to sell car leaving me with more to pay .Basically what I am saying is Welcome are desperate for cash , also the whole PPI fiasco with FSCS is gonna hit them hard...therfore in my opionion you should be a cheeky bugger and go for broke..offer them something stupid.Thats just my opinion and I would speak to head office first not the branch monkeys..

[Joannabelle]

Hi, sorry for butting in. I spoke to my local branch and the customer complaints manager at Nottingham and they have all told me that they will not be reducing any settlement offers.

 

I also have the money and my account is in superb order, they all told me that because of Welcome's financial situation there is no way they can offer discounts on settlement figures and you basically get exactly what your entitled to. For me, it was a measly £200 on and outstanding amount of £4242. I have already paid thm over £7k on a 12k loan.

 

Yesterday I emailed Margaret Youngs CEO, I spoke to her PA and he forwarded my mail on.

 

I even considering defaulting on the payments just to get them to offer me a better reduction.

[jj69]

Hi, sorry for butting in. I spoke to my local branch and the customer complaints manager at Nottingham and they have all told me that they will not be reducing any settlement offers.

 

I also have the money and my account is in superb order, they all told me that because of Welcome's financial situation there is no way they can offer discounts on settlement figures and you basically get exactly what your entitled to. For me, it was a measly £200 on and outstanding amount of £4242. I have already paid thm over £7k on a 12k loan.

 

Yesterday I emailed Margaret Youngs CEO, I spoke to her PA and he forwarded my mail on.

 

I even considering defaulting on the payments just to get them to offer me a better reduction.

 

I have heard people say about defaulting to try and get a better offer then again thats not an option for me due to my work situation and security clearence.Im not in a position to recommend you do that but if you do be prepared to be harrassed on a daily basis with rude and threating calls.Welcome told you they cannot offer reduced settlements then contradict themselves by offering you £200.My guess Welcome probably could reduce it but those with up to date accounts are worth keeping for the future I suspect depending on Welcome's situation.They will probably sell on these accounts to grab what final money they can get as I am sure Welcome and Shopacheck are to be disbanded with the new restructuring of Cattles..I have lied to my account manager telling him possible job loss or a sudden windfall coming and have been offered about 2-3K off my balance so it does depend on the branch.It all depends if you can hang on a little longer to see where Welcome is going..Im also gunning for charges and PPi on a previous loan so hopefully get some money returned this way.

[ninja22]

Hi there were did you find margaret young ceo email or address Ive been looking for the ceo for a while now and have no luck

If you still have her email or address could I have it please

[Joannabelle]

Well I told them I had redundancy (lie) and that I was 6 months pregnant (truth). Still not interested what so ever!!! I don't think it's wise to default either but they are so annoying and very much so taking the p1ss out of us.

 

I sent my email to [email protected] he then passed it onto high level complaints rather than the monkeys in Nottingham.

[ninja22]

Would have thought the government would have done something about all the complaints welcome get

[Joannabelle]

I had a letter about my complaint this morning, usual BS about looking into it. What made me chuckle is the fact that it was sent on plain paper!! Are things that dire with welcome now that they cannot afford headed paper.

 

Also there was a paragraph at the bottom of the paper telling me that should I have any questions to ring the following number...... What number would that be??? I have no idea as they didnt type it in! Shoddy is what I thought.

[MrZ]

I had a letter about my complaint this morning, usual BS about looking into it. What made me chuckle is the fact that it was sent on plain paper!! Are things that dire with welcome now that they cannot afford headed paper.

 

Also there was a paragraph at the bottom of the paper telling me that should I have any questions to ring the following number...... What number would that be??? I have no idea as they didnt type it in! Shoddy is what I thought.

 

I've had the same. But mine was on recycled paper!

 

I imagine with all the complaints, they've used up there stock of headed paper and can afford to order more...and why would they when they will soon be no more anyway? My lettters often are missing dates, numbers and enclosures. Its a circus!

[ninja22]

just writing to get thread back on

[ninja22]

received an email today, they have filed my offer as a complaint so that my file will be reviewed and to see if they are willing to accept my offer.

[ninja22]

Just Received a letter from head office my offer has been rejected so I'm going to try and find another way to get to them.

Any one else had any luck?

[Joannabelle]

I had a call from my local branch on Friday, regarding my letter of complaint. They too have rejected my complaint and told to to basically pay what I have been quoted.IF ANYONE ON HERE HAS HAD OFFERED FROM THEIR LOCAL BRANCES OF DISCOUNT RECEINTLY....PLEASE CAN YOU HELP AND PROVIDE ME WITH AS MUCH INFRMATION AS POSSIBLE AS i WANT TO TAKE THIS TO THE FOS.The FOS will charge welcome £500 for every case they look at regardless if they uphold the customers complaint or they go in the favor of welcome...no matter if everyone complians to the FOS then all these £500 charges will start making them think, especially in the finacial situation they are in.

[jj69]

I had a call from my local branch on Friday, regarding my letter of complaint. They too have rejected my complaint and told to to basically pay what I have been quoted.IF ANYONE ON HERE HAS HAD OFFERED FROM THEIR LOCAL BRANCES OF DISCOUNT RECEINTLY....PLEASE CAN YOU HELP AND PROVIDE ME WITH AS MUCH INFRMATION AS POSSIBLE AS i WANT TO TAKE THIS TO THE FOS.The FOS will charge welcome £500 for every case they look at regardless if they uphold the customers complaint or they go in the favor of welcome...no matter if everyone complians to the FOS then all these £500 charges will start making them think, especially in the finacial situation they are in.

 

Dont want to appear negative here but not sure what compaint FOS can uphold on your behalf.I could be wrong here but it is up to Welcome to decide on a reduced settlement figure not a clause for example of consumer law.It is at the discretion of each individual company to offer a reduced balance or settlement so Im not sure what FOS can threaten Welcome with in this respect.

[Joannabelle]

I am not complaining to the fos about my settlement figure, well I am but it's only to make them have a charge of £500 and if everyone did this and welcome had more and more charges then maybe they would start re thinking this no settlement discount thing they have ongoing.

[ninja22]

I was going to phone the fos today anyway to see what they could advise.

[Joannabelle]

Don't bother write letter as they have to investigate it then and take on the complaint. Pain in the arse I know but at least it will make welcome wake up when these charges start taking effect straight away.....Awwwww shame