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bob-k

Welcome Finance - many rolled loans - now one big secured one - trouble paying..

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Ive been a customer of Welcome finance for 12 years having unsecured loans up until around 5 years ago when I took out a secured loan,

 

 

From memory it was around 22k (I have requested a breakdown of info from welcome so will report back with that)

 

Paying back currently at £250 a month until

 

 

this month and last when I had no choice but to miss the payments.

 

 

Having discussed this with welcome I asked for a breakdown of the remaining payments,

to which I was blown away to find out there are 178 monthly payments remaining at that payment amount.

 

By my calculations I have paid them back approximately £15 000 with another 44 500 remaining.

 

Im not in a position to up the payments to clear it off faster and pay less interest.

Have I any other options other than to just keep making the payments?

 

I haven't claimed PPI back on this account,

im going to research into that now,

however from the limited looking around I have done

I believe I am past the time limit as with this loan being 5 years old my previous 3 unsecured loans will be at least 6 years old.

 

Again the information above might not be totally accurate,

but its what ive been lead to believe on the phone.

Ill report back with more accurate information when I have it.

 

So first thing first,

Wait for the documentation requested from WFS,

 

 

Then send in the information request along with the £10 as outlined in one of the threads above,

and then start persuing the PPI aspect,

However im wondering is there anything I can actually do about the loan?

 

In the mean time, thanks for reading and any basic advice of what way I should move forward would be appreciated.

 

Thanks

Bob

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an sar to welcome

 

 

get all the info.

 

 

if you have had and have refinanced

you've undoubtedly been done over by PPI rollover numerous times.

 

 

as for the current loan

 

 

have you looked at your credit file?

 

 

are there any defaults for any credit showing ?

 

 

from anywhere?

 

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Ill get onto the SAR request over the weekend to get all the information I can from them.

 

I am 100% sure I have had PPI on at least one account,

I specifically remember them telling me the only way they could give me the loan was with PPi

as I was young and an apprentice so my job wasn't secure (13 years later still there)

 

There are defaults showing but I haven't checked in the last few weeks to see if there is one from welcome for the recent missed payments,

they are with other companies, and I am working off paying them as much as I can afford

while still maintaing my priority debts.

 

 

There is also a CCJ on there,

 

 

However I have contacted the company that requested this judgement to confirm that this has been satisfied,

 

 

They have sent both myself an the registar a letter confirming that it has been satisfied,

 

 

and I have confirmed that it has now been removed from my credit report.(in the last week)

 

Thanks for taking the time to reply. It is appreciated.

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ok if you have defaults then one more wont hurt.

 

 

I'd drop the payment to £1 PCM or whatever afford comfortably!!

 

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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And just leave it there at that amount forever? Surely the long term goal should be to get rid of them for good?

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you need the info first bob.

 

 

then we'll know what you ACTUALLY owe

after your PPI+ reclaiming


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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I would also stay off the phone

 

 

........

 

 

TELL [dont ask] them they are only going to get £xxPCM for xx mts

as a goodwill gesture

and as a reciprocal GOGW they must freeze int & refrain from levying PENALTY charges.

if they wont

drop them to £1PCM for life.

.

as an example>

.

I am currently in financial difficulties and not able to meet my normal monthly repayments.

to show my goodwill, i am going to pay £5 for 6 mts.

 

i will update you in 6mts time or before, should my situation change.

.

could you please as a reciprocal goodwill guesture,

.

refrain from levying any penalty charges & freeze the interest on my account.?

.

Should you fail to assist me during a period of financial difficulty, contrary to all the guidelines and codes

issued by the relevent bodies and authorities that govern you and the way you conduct yourselves.

.

i shall have no alternative but to reduce my offer to £1PCM for the rest of the life of the account,

.

.

as your actions would do nothing to help me.

.

i thank you for your time.

..

.

dx

.

then pay by your internet banking site

.

and get reclaiming

.

TAKE CONTROL

.

or

if you have sent the above and they refuse

then write back........

.

.

i'm sorry, but you have failed to assist me during a period of financial difficulty, against all the guidelines and codes

issued by the relevent bodies and authorities that govern you and the way you conduct yourselves.

i repeat again, the contents of my letter dated dd/mm/yyyy, for want of clarification:

to show my goodwill, i am going to pay £XX for XX mts

could you please as a reciprocal goodwill guesture, refraining from levying any penalty charges & freeze the interest on my account.

i will update you in 6mts time or before, should my situation chance.

should you fail to help by refraining from levying unlawful PENALTY charges & freeze my interest,

i shall have no alternative but to reduce my offer to £1PCM for the rest of the life of the account,

as your actions are doing nothing to help me.

This is contrary to the rules you should operate under.

disgruntled account holder

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Fantastic piece of information there. Thank you.

 

Ill stop the contact by phone once I receive the first set of documentation from them that ive requested

to outline the previous payments and payment schedule for the rest of the loan.

 

Ill also, Next time they call (expecting it to be tomorrow)

request that all correspondence be in writing from this moment onwards

and request a copy of the original consumer agreement (although I would hope it is contained within the previous request)

 

Then over this weekend I will draft up the SAR letter,

arrange the £10 Postal Order send that to their head office,

and draft up another letter following your outline above,

send it to the darlington office who hold my account and get them both in the post on Monday.

 

Thanks again for all the help, It really is appreciated.

 

 

Ive had my head in the sand for too long with this.

 

 

I guess im also partly lucky though, being in northern Ireland there is no doorstep recovery,

and they don't have a local office in Northern Ireland anymore

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doesn't matter about doorsteppers

they ARE NOT BAILIFFS

and have

NO SUCH LEGAL POWERS.

 

 

IMHO the sar is your priority here

 

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Ok, Thanks for that. Ill move it to the top of the list and get on with it over the weekend.

 

 

Thanks again

Bob

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do it tomorrow

 

 

simply print the SAR

 

 

go get a £10 PO

 

 

post them off

at the same time in the PO get free proof of posting.

 

 

have you moved in the timespan of all these loans with welcome?

 

 

the quicker you get the info the better.

 

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Yes I have, Through 4 addresses including the house I live in now, which the secured loan is registered against.

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I would

to stop any chance of confusion

include a list of your passed addresses.

 

 

at the top of the sar


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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