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Welcome Finance Default

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Hoping someone can help!


I've got a default notice on my file for a Welcome Finance loan that I took out. I missed a couple of payments due to some extreme personal circumstances at the time..silly I know but couldn't be helped. Anyway, next thing I know, they had marked the account as defaulted and gave me no warning of this. I was able to catch up with my arrears but refused to until the default notice had been removed.


As far as I am aware, they have to give notice of issuing a default..is that right? I'm sure I read it somewhere!! I contacted them on numerous occasions but they weren't having any of it and were obviously keen to pile on as many charges as possible.


Now the account has been passed on to MacKenzie Hall debt collectors. I've just faxed them a letter and told them I will happily pay the debt if the default is removed. Am now just thinking what rights do I have in all of this, if any?


Also, I've just checked my credit report and it shows 2 payments were not made, it seems a bit excessive to record a default after just two payments late..can they do it when they like?


Any advice would be appreciated. This has really buggered up my credit report and I've been trying so hard to improve it after a few years of financial recklessness when I was younger


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All Welcome have to do is issue a new compliand DN if necessary, copies of the original are not kept, files are marked as DN sent on a particular date.

I think you may struggle to get this removed, each companys' default procedure varies.


I think this would only be removed as a ''gesture of goodwill'' if the debt is cleared, or the default entry will be marke as ''satisfied''.

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