Jump to content


Welcome finance Admitted PPi then used it pay into a closed/written off account


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 1949 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

We had a loan with welcome finance many years ago. Phoned them up last month regarding miss selling of ppi to which they said there was some on the account so we started the claim. Everything on the phone was fine no issues, the loan account was closed.

 

We've had our decision letter today saying they were using the compensation to settle the loan.

 

It was secured against our house, we sold the property in 2004.

 

It seems there was was some of the loan left outstanding after the sale.

We've had no correspondence or notifications regarding any outstanding sums on the loan.

 

 

We've been easily findable (plenty of other DCA's have found us in the past)

They've said that the loan was written off and closed in 2010, their own words.

 

My question is, if the loans written off and closed can they use PPi compensation against it?

Link to post
Share on other sites

sadly if the loan was not sold and there remains an outstanding balance they can off set

 

 

but i'd put them to strict proof

 

 

as advised..you did sar them first ofcourse?

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... 

Link to post
Share on other sites

Hi.

 

Original loan was 10k.

 

About 10 months of payments at 277,

 

then when the house was sold it only cleared £6900,

(have since found the old solicitors paperwork where part settlement was agreed)

 

apparently welcome were supposed to contact us regarding continuing payments.

We've never heard a thing since 2004.

 

According to welcome the debt was written off at £13800 in 2010.

 

They said today they'd added loads of charges and interest to it.

I Presume that because it had gone statute barred in 2010 they wrote it off.

 

I did ask if they'd sold it on (I know if they did then they'd still be liable)

but she said it was to long ago to tell.

 

They've jiggled the figures about to say the £4800 of ppi has cleared the arrears somehow.

 

Can there be an outstanding balance on a closed/written off account though?

 

No SAR involved, just called them and they found the closed account via the old address.

Link to post
Share on other sites

in E&W even though a debt might be statute barred etc

it still exists.

 

 

as for their jiggling.

as a rules of thumb welcome debts are roughly 50% inflated

by things that can be reclaimed

which they would have removed

so £4800 seems about right

 

 

i'm surprised you got anything

most welcome reclaims are ignored now

referring to the deal they've made whilst going out of business

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... 

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...