Welcome finance / Atlas collections

[geekdonk]

Hi,

 

I had a welcome finance loan about 5 years ago (£3000) and payed off around £1500.

 

Due to redundancy i was unable to make the repayments and

 

welcome keep adding interest onto the loan even though they said they wouldnt.

 

my loan ended up at £6000+.

i wasnt happy with this and

 

for the last 3 years i have been making a £5 per month token payment which welcome have been happily accepting.

 

Recently i have have received a sum of money

 

i decided to try and pay of the loan to clear my credit file of the debt.

 

I have been dealing with Atlas collections and

i asked for a reduced sum if i cleared the debt.

 

I offered them £2500 which they accepted

but they are still awaiting payment from me

while i wait for this sum of money to be put into my account.

 

Recently i have checked my credit file and t

he debt is no longer on there and

on noodle it says it is 'cleared'.

 

Not sure whether i should pay the £2500 or

just carry on with my £5 token payment now as the debt is no longer on my file,

or should i try and reduce my offer significantly?

 

Any help will be awesome.

[silverfox1961]

Hi

I have moved your thread to the Welcome Finance forum with a short redirect from where you originally posted.

 

How did you make the offer? In writing?

 

Did you ensure that they would not sell the remaining part of the debt on?

 

If not then you should start again.

 

What charges have been added? Did they agree in writing not to add interest? Did you have PPI?

[geekdonk]

Thanks for reply, i made the offer over the phone. They said the debt would be totally cleared when i paid the amount (£2500) and no i didnt have PPI only 'death cover' i believe. Intially when they said they would stop the interest it was just over the phone. stupidly i nevr got anything in writing.

[silverfox1961]

I would suggest that you send welcome a SAR to get all your account data. This may show on the records what was said in the call. It will also show what charges have been added which can be reclaimed/removed making the balance owing substantially less than what you offered.

 

I would do nothing regarding the F&F until you have this data.

 

Plac your funds somewhere safe. Don't touch them and when this is done with, you may be able to treat yourself.

[geekdonk]

Thanks. Just read a thread about the mysterious decision to remove all welcome loans off peoples credit files too. I wont pay them yet then and i'll keep my token payment going for the time being. Is it possible the debt can be re-added to my credit file once its been removed.

[silverfox1961]

I don't think so but you never know with these companies.

[dx100uk]

no I suspect the default reached 6yrs?

 

never ever F&F a welcome debt!!

 

90% are always inflated by PENALTY charges & PPI/other compulsory insurances!!

 

get reclaiming

 

you have of course sent whomever you want to pay debts off too a CCA request FIRST?

 

not blindly assumed they are legally entitled to any of you money?

 

as of if even helping your CRA score

 

9/10 paying off a debt does NOT>

 

the markers & default remain to kill it even if it says settled.

[geekdonk]

F & F??? and yeah i think i was blindly assuming i owed this money to them. This forum is brilliant. Bit of a eye opener for me i think.

[dx100uk]

full and final

[allergor]

Could anyone please detail why Welcome Finance wiped peoples loans off their credit files? This has happened to me too, yet I have Fredricksons on my back.