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sonnab
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Hiya everyone ,

 

Need a bit of advice please

 

Me and my husband have fallen 2 months behind with our secured loan.we received a letter from them saying that due to our circumstances they are willing to accept a nominal payment.the form itself was all blank

 

Funnily enough today we filled it in with an income and expenditure form (which they didnt ask for ).showing that after bills,mortgage and food we have £3.02 per week left to live on...we are on JSA, and we get child benefit and child tax credits.

 

£1.00 per week goes on a court ordered repayment and £1.00 per week goes on a ccj for the local council so obviously we have offered welcome £1.00 per week also.

 

 

Tonight they have phoned up and they are now saying that we have to give them 60 days worth of bank statements so they can see where our money is going and to prove that we are on JSA,we have declined this and told them we are not prepared to give them copies of our bank details,they have also said that they require my husband to give them a mobile telephone number but again he has refused as he never gives his mobile number out to anyone official,(which is surely his right as a human being).

 

do they have the right to demand to see our bank statements as they have said that they are legally within their rights to ask for these ,we have offered to send them a copy of my husbands signing on book and or copies of letters from the DWP but they say they must see bank statements.

 

they have also said that they deserve payment before any non priority debt,thing is we dont have any non priority debts only the mortgage,welcome and the court appointed judgement which has a charge fixed to it and the ccj to the local council

 

any help is appreciated

:psonnab :p
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They are correct that they have priority over other debts - alongside the mortgage.

 

You can either provide them with the information they ask for, or wait for them to start possession proceedings, which will undoubtedly follow if you're unable to make payments towards the debt.

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the point i was making is that i dont have non priority debts ...and i have offered them a payment but they will not accept it untill i send them 60 days worth of bank statements to see where my money is going.. they are a loan company that has been paid month in month out for the last 5 years yet when we ask for help they dont want too.i have no intention of giving them anything considering no one except a court is entitled to ask for an income and expenditure form so they sure as helll dont have the rights to tell me they have a legal right of seeing my bank statements

:psonnab :p
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My point was really rather simple and doesn't need to be repeated as it remains in post #2.

 

Which of those options you choose is up to you. The first costs you nothing, the second will cost you several hundred pounds added to your mortgage account or the security.

 

Good luck.

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Have you got any PPI etc on this loan that you may be able to claim back, along with any excessive charges?

 

It may help reduce the overall balance owed.

 

Also don't deal with your local welcome Branch - only deal with their head office. But as has been pointed out - as this is a secured loan it may be in your interest to send them the statements they have asked for - especialy if this proves your financial situation.

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They don't have any right to see your bank statements. They can ask you to complete an income and expenditure form and send supporting evidence ie like you say your signing on book or letters from the DWP confirming benefits. If you're finding it hard to negotiate with them I suggest you speak to CAB or some other organisation that can negotiate on your behalf. It would be easiest to send them your bank statements but that is entirely up to you. They do not have a legal right to see them but it may be in your best interests to send them if you want their help. Good luck. x

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They are correct that they have priority over other debts - alongside the mortgage.

 

You can either provide them with the information they ask for, or wait for them to start possession proceedings, which will undoubtedly follow if you're unable to make payments towards the debt.

 

 

being a secured loan with welcome i can allmost guarantee you have a mortage indemnity fee added

 

as to welcome v griffiths

 

welcome have stated they will not do reposessions if this insurance has been added to the agreement in court

 

i have yet to come across a thread where welcome have done a reposession on a secured loan, it is allways the original mortage company (1st) charge that will instigate a possession order

Edited by southernjessy
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