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Welcome Finance - This company needs to be banned.


tightbum
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Ta...

 

I'm just wondering if the eight Welcome Finance/Cattles Muppets would like one...

 

Well do you!!!:mad:

 

Must do as there are 18 guests !! But save the champers for us - give them the nasty asti :lol:

Forsure

 

** One woman crusade against the rip off lenders ! **

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Must do as there are 18 guests !! But save the champers for us - give them the nasty asti :lol:

 

were 18 guests......anyone got any good tunes to play along with the champagne then ?? How good would it be to have a CAG party !! :lol:

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** One woman crusade against the rip off lenders ! **

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it's like wating for the millenium bug......will it......wont it

Beck

"There are two ways to conquer and enslave a nation. one is by the Sword. The other is by Debt."

 

Barclaycard PPI Refund £4300:whoo:

Barclaycard = Mexican Stand Off

 

TSB = Mexican Stand Off

 

Santander = :mad2: MungyPup is coming to get yahh :mad2:

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calm down mate, calm down:eek:

 

:lol: Nice One

 

Would be even funnier if I were actually a scouser - but Im not :lol:

 

Im just soooooo excited to see these bunch of muppets on their knees :lol:

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** One woman crusade against the rip off lenders ! **

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have just been on cattles site and i got to talk to some lovely person called bindi they dont seem to have to much to do at the moment although she said they were not in any financial difficulty but welcome is lol wonder if they have told the co workers they are going down the drain...

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i really hope they go under but i cant see it happening.....hope im wrong....

 

i think rbs and the rest will allow them to keep trading to pay back there debts..

 

or at least try to pay as much back in an time frame say 6 mths..

 

i really hope im wrong but lets wait and see

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"STRUGGLING consumer lender Cattles yesterday said it was in “constructive” talks with its creditors in a bid to gain more breathing space over debts.

 

The firm, whose shares were suspended in April, faces looming deadlines on payments to bondholders and must refinance £500m in wholesale funding with a bank consortium led by Royal Bank of Scotland by July 14.

 

Batley-based Cattles is pushing for a “standstill agreement” which will see these payments suspended while it resolves its future."

 

 

Isn't it really funny how they want their creditors to do something that they weren't willing to do for their customers who had lost their jobs recently. ******S

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I thought it was the nice polite thing to do, afterall they hounded me something cronic when I lost my job, they didn't wish me luck then in finding new employment, just the decent human thing to do to wish them well.

 

A valid point, you should now add £10 to their bill for making the phone call

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Dodgy Agreements = Waste Paper......they can always sell that :lol:

Beck

"There are two ways to conquer and enslave a nation. one is by the Sword. The other is by Debt."

 

Barclaycard PPI Refund £4300:whoo:

Barclaycard = Mexican Stand Off

 

TSB = Mexican Stand Off

 

Santander = :mad2: MungyPup is coming to get yahh :mad2:

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well this is the latest i can find

 

Published Date: 14 July 2009

By John Collingridge, City Reporter

 

 

STRICKEN sub-prime lender Cattles was last night locked in eleventh-hour talks with its banks and bondholders, as a key refinancing deadline looms.

The Batley company is desperately trying to secure the backing of a syndicate of 22 banks to refinance a £500m credit line, which expires today. If the company fails to win the backing of its creditors, it faces going into administration.

 

Last wee ADVERTISEMENT

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k the company defaulted on an interest payment on a £400m bond, leading ratings agency Fitch to downgrade its debt rating.

 

Analysts believe its talks with the syndicate of 22 banks, led by Royal Bank of Scotland, hinge on foreign banks being persuaded to roll over some of the debt.

 

One analyst said while UK banks are more likely to agree to roll over the debt, as they are under political pressure to maintain lending, foreign banks will be less sympathetic as they focus on domestic markets. "When businesses are in trouble, they hunker down on core markets," he said. "Why are they (foreign banks) going to commit to UK small-cap lending?"

 

Banks and bondholders are also understood to be locked in a debate over who ranks first should the company fall into administration. Banks argue they rank highest in payment priority, bondholders dispute this.

 

It has sacked six directors and parted company with chief executive David Postings after an independent investigation found serious flaws in the way it accounted for bad debts, blowing a potential £850m hole in its accounts.

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