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Welcome finance - help please!!


Robbo2716
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Hi

 

I have a question that I was hoping someone could help with.

 

I have a loan with Welcome Finance which I'm still paying off.

 

I took the loan in 2009 for £4000 and

I experienced payment problems on the loan.

There's around £1,300 (they have allegedly frozen the interest on the account) still to pay

but they closed the account in July 2013 and

I'm still paying £100 per month to it.

 

The loan also does not paper on my credit file and as such the default has disappeared also.

 

My question is

 

if the loan technically doesn't exist now as the account is closed

and there's no record of it other than their system do I need to pay it?

 

If I do, does anyone know if I could offer them a full and final settlement

 

- I was thinking of offering £600 to pay it off and more importantly,

what's the chance of them accepting it?

 

If I just stopped paying the loan and they sold it on to a debt recovery company

would they give me the opportunity of a full and final settlement

and would it appear back on my credit file if Welcome sold it to them?

 

Any help or advice would be appreciated.

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  • 3 weeks later...

sorry you got missed.

 

I would send welcome an SAR get all the info.

 

strange its not on your cra file if you took this out in 2009?

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

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thanks for reply. Yeah it is strange but i read on another post that they were not lending within the rules and as such took the decision themselves to take info off individuals credit reports (suits me!)

What will a SAR do for me in relation to my initial question?

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the sar will get you all the details

of what you have paid

and what they charged you

 

i'd suspect a lotof this debt might well be PPI/insurance and PENTLY charges

 

all can be reclaimed

 

I would not 'assume' just because its vanished from your file

 

one it will not return

two it is no longer owed.

 

dx

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

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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