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Hi there I wonder if i can ask a couple of questions after reading other posts on here I would like some help too now.


I have a secured loan with welcome,



this loan was initially taken out about 2004 for a caravan,

over the years we stupidly got talked into increasing the loan and re starting it.



In 2008 i went to university and struggled financially during those three years and reduced the payments to welcome.



I recently received a statement from them saying the original credit was £17409.65 for a duration of 240 months in feb 2008

the outstanding balance is currently £163.6.54



we have hardly missed any payments and theres a capitalisation fee on there every month of £153.34 which i am guessing is charges ?



the monthly payments should be £185 so we have always paid a little extra but this loan does not seem to be going anywhere fast.


Please can anyone help me with what is the best way to deal with this?



if i stopped paying it would they sell it on (as ive read they have in other posts) and then would this capitalisation fee continue ?



i really dont want to be paying this off forever as i am trying now to sort all my finances out as now in a job and stable.


Any help appreciated

Thanks Michelle

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I'd be getting an sar off to welcome ASAP.



there are always holes and charges to reclaim

and PPI/MIF etc etc.



capitalisation means interest.




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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