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Welcome unsecured loan


Batman1980
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To keep it brief,

I had a secured loan with welcome in 2004.

Lost my house in 2008.

Welcome chased me for 5 years and eventually caught up with me

and arranged over the phone a new loan to cover the debt on an unsecured basis.

 

Here's where the problem lies,

I never signed a new agreement for the unsecured loan.

I have spoken to them on numerous occasions

and they simply tell me if I stop paying they'll take me to court.

 

I have spoken to the financial ombudsman but they can do nothing

as it is a case for the courts due to the welcome finance ruling in 2013

where no outside company are allowed to change agreements already within there book.

 

Where do I stand surely this is not enforceable.

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Hi and welcome to CAG. Sorry you were missed. My posting will help give you a 'bump'

 

I confess I know very little about Welcome however, they went into administration/default in 2011 and as such, shouldn't have been offering new loans at all. By your calculations this would have been around 2013.

 

I think you will need to SAR WF to get a fuller picture of what went on at the time. This costs a tenner but is well worth it if you don't have all your account info

If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

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Easy answer. CCA them.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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stop ruddy paying they've had you blind.

 

bet the debt and the old one

is 99% PPI/insurances/penalty charges anyway.

 

pers i'd stop paying

get an SAR off to them

and get reclaiming.

 

how much have you been paying them PCM since 2008?

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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