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cara12345

Secured loan or not

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Can someone tell me please if a Welcome Secured loan, which has never actually been secured on the property, can be treated as unsecured.

I have recently discovered that my secured loan is not recorded on the Registry anywhere. I have not made any payments for around 4 years and apart from a few threats not a great deal of contact

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Hello Cara.

 

I'm sorry you haven't had any replies yet. I've flagged your query for the site team in case someone can help.

 

My best, HB


Illegitimi non carborundum

 

 

 

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Checked the land registry to see if anything is added there?


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

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already checked as above?

 

pers i'd be keeping your head down.

 

welcome loans are always well inflated with PENALTY charges for everything

and lots of unnecessary compulsory insurance anyhow if it got nasty.

 

was this your only dealing with welcome?

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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I have checked Land registry and there are no second charges recorded.

 

This loan does not appear on Equifax records

 

.It did once appear on Noddle. I queried it and they removed it after no response from Welcome

 

I have had previous accounts with Welcome which were all paid and are recorded as such

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just to be sure here

these loans were not paid by each other or by the secured loan?

 

seems like its gone under the wire luckily...

 

ever thought of PPI / penalty charging reclaiming on those old loans?

 

bet you had all manner of insurances?

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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This was a completely separate loan. the other 2 were paid by means of a remortgage. I was also one of the very lucky ones who successfully reclaimed PPI from Welcome before they went under. with this loan I absolutely refused ppi..

I do still get the odd arrears notification but nothing too threatening.

So can I consider this debt statute barred after 5years(Scotland)?

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It would confirm within the T&Cs and the agreement if it is secured...if it is ......makes no odds if its registered on the LR or not...its if they try to execute security were the difference is to an unsecured loan.

 

Check the T&Cs may also be classed as a second mortgage therefore the 6 yrs SB would be 12.

 

Regards

 

Andy


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So even if its not actually secured on anything its still a secured loan?

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Can someone tell me please if a Welcome Secured loan, which has never actually been secured on the property, can be treated as unsecured.

I have recently discovered that my secured loan is not recorded on the Registry anywhere. I have not made any payments for around 4 years and apart from a few threats not a great deal of contact

 

So even if its not actually secured on anything its still a secured loan?

 

From your initial post you stated it was secured...as stated the Agreement will confirm what type of loan it is.I simply stated that is does not have to be registered against the property to not make it secured..they will do that should you default.


We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

If you want advice on your thread please PM me a link to your thread

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