Welcome Finance - caught by the their questionable accounting!

[mark.hyatt]

Hi

my first day looking at this site and honestly was really glad to see i am not the only one who has been caught in the welcome net of debt!

I took a loan from them for £15,000,re done loan to lower monthly payments but at last check had repaid £16,000 but still owe them by their records £21,000?

I questioned them a couple of years back as i thought it was just a secured loan but they have told me it was a 'second mortgage' which i did not realise at the time and so they are charging me 5% APR .

 

Feel trapped,stressed,abused and have lost hope and feel that i will be paying this debt for the rest of my life.

 

They told me if i did not continue paying that would take my home

 

Any suggestions would help,i have just lost my job too. Really need some help please:

[ims21]

Hi and welcome to CAG

 

I'd reckon there are a lot of unlawful charges on there that you can reclaim.

 

Also the possibility of PPI to reclaim.

 

Both of these can reduce your indebtedness.

 

Have you got your statements and agreement? If not I would SAR them to get all the information they hold on you.

 

There is a template for SAR in teh CAG library, the link to which is at the top of every CAG page in green. Cost os £10 and they will have 40 days to comply.

 

The information that comes back will give you a good ise on how to proceed.

 

ims

[mark.hyatt]

Hi,

i have kept just about every piece of paper they have thrown at me, i am going to go through it all and see what info i have

 

thanks for the help