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Welcome selling off loans - cabot and or marlin financial , help please


loopylou2004
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Just received a letter this morning saying my account was now owned by cabot financial and was sold 24th june 2014.

 

Ive been paying weekly for years and still have my direct debit paying welcome drect, they say they are only handling the payment and forwarding to cabot....

 

As this is a secured loan does this have any implications for my home?

 

Ive rang welcome they said to contact cabot but i dont really want to until i have the correct info.

 

Any help/advice would be appreciated.

 

Thanks

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  • 5 weeks later...

Welcome have sold our loan (which was being paid weekly without missing) to cabot financial, they advised they are selling off their debts.

 

I now have a letter from marlin stating that having agreed changes to your direct debit details ...... (we have had no contact with anyone other than welcome) and they have set up a direct debit on my account without my consent for the same weekly payment as we were paying welcome.

 

1. can they do this?

 

2. its for around 10k less than we owed welcome when ive worked out the payment dates

 

3. does this mean its no longer a secured loan?

 

anyone having the same issues?

 

thanks in advance.

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can you give us more details of the loan please, amount, when taken out, ?

 

1)no

 

3)no

 

You need to send sar to welcome

 

cca request to marlin

 

Any ppi on the loan?

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

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thanks for the reply, in all honesty i have very little info and no paperwork at all.

 

Loan was taken originally in 2007 and rewritten a couple of times.

 

Outstanding with welcome is around 13k, payment schedule with marlin is £25 a week until october 2016.

 

Welcome has a charge on our home , ive checked land registry.

 

Thanks but thats probably not a lot of help to you.

 

PPI reclaimed, just under 4k, taken straight off loan amount.

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send the requests off, get all the info that you can, especially the sar

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

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PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

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  • 4 weeks later...

and the cca to the latest chaser.

 

 

if the fail 12+2 working days

THEN you can stop payments

 

 

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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