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Hello and Good evening  CAG.

Im BIGDUMBFACE and i have the  same story as every one else got a Welcome finance secured loan and a lot of stuff happened :

2006: 10k ( £12,121.04 inc insurances) in OCT 2006 written by 'PROGRESSIVE FINANCE' T/A WELCOME FINANCE.

2008: Re-loan'd for £12,723.17 ( no insurances ) in MAY 2008 written by WELCOME FINANCE due to Arrears, Redundancy and not being able to make payments, but i was working part time and on benefits when re-loaned ( partner at the time was working full time ).

** I HAVE A SAR from the welcome finance liquidators with all this in the notes. they should defiantly NOT have re-loaned to us a larger amount to clear arrears as it was clear i couldnt afford to pay due to redundancy and history of missed payments. 

EX- moved out in 2010 (ish) on good terms, we had an agreement to split the bills but eventually that fell to the way side as we no longer spoke.
she paid the Welcome finance loan as they could contact her, i ignored them and her completely until 2012.

2012: I  have had a reimbursement of  1185.75 under the FSCS project for missold PPI.

2018: DEBT SOLD TO COAST FINANCE SOLUTIONS they bought the outstanding balance of £8333.54 for £4954.59.
I have no documentation of this or any letters from them (perhaps they were sent to just my EX? and not me or i binned them, i dont know, ive lost a lot of paperwork over the years). 
I have a current MAY 2020 Statement  of £7058.54 ( of which 5863.15 are arrears) @ 0% APR.

The Ex is now asking to have the property SOLD off and I'm happy with that too, which led me to start looking at the debts we have more closely as things dont smell right to me about COAST FINANCE being based in Luxembourg when i actually read one of there statements, 


they are not FCA registered. but its administered by TARGET who are ( i believe a 3rd party can not act on COAST behalf for legal action and there have been court cases regarding this that i read on a different forum thats now gone along with the case references - correct me if im wrong.)  

I also checked my title deeds via land registry and the loan is there but as PROGRESSIVE FINANCE (the first loan) and PROGRESSIVE FINANCE as of 19 May 2020 were dissolved following liquidation.

now, my questions:

when the house sells ( if i understand this right ) the deed is under progressive finance so COAST will get ZERO as they wont be notified upon the sale as they arent the legal registered owner of the secured debt. would that be correct?

with regard to FEES as Welcome no longer own the debt i assume its too late to get those back now they are in liquidation ?  

would it be wise to SAR COAST for their documents on me to see what they mean by ARREARS of 5863.15? or could that lead to them not realising the DEED was never changed to them? 

can they just be binned off and not paid

- EX is paying them at the moment but we are back on speaking terms to sell the house, so if i can bin them off it would be good for both of us, her to stop paying them and me to not get any grief 

Thank you in advance :)

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read the cruz thread (sorry very long)



the charge not being in their name sadly doesn't help you.

but arguing to the hill that 99% of the debt is unlawful fees and insurances might well.


bottom line is IF you can get away with selling without them knowing try it

but i don't think it will work

esp as the loan is in both names and obv still secured.


i notice from your other thread they were not the prime lender

and i suspect the re-finance was unlawful, why not try what cruz did an irresponsible lending claim..


but no last point..don't hide.


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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