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Welcome Finance - This company needs to be banned.


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Just for giggles....the CV profile for Adrian Cummings, suspended compliance director and all round bad boy for Welcome.

 

I know people 'embellish' the CV's a bit but this is a bit much...especially the use of the word 'integrity' :mad:

 

Adrian Cummings - LinkedIn

 

 

have to say i liked the calm and considered in a crisis more...well I hope he's calmly considering his unemployment prospects :p

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(Alleged)

Phone call to welcome today:

 

WF: "Morning Welcome Finance"

Me: "I'd like to speak to someone about a loan".

WF: "I can get someone to phone you back, how much were you looking to borrow?"

Me: "No, I'm offering to loan YOU some money. It's 120% interest, but I know how desperate you are..."

 

Tw@t hung up on me.

Carpe Jugulum

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I hope this isn't true, but the gossip on the shareholders' forum is that Cattles will survive with a massive restructure ie. cutting the 250 odd branches to between 5 and 10 :( why won't they just DIE?????

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I hope this isn't true, but the gossip on the shareholders' forum is that Cattles will survive with a massive restructure ie. cutting the 250 odd branches to between 5 and 10 :( why won't they just DIE?????

 

 

Hi Sol,

 

I think you have been reading the same bits of information dropped around by Welcome staff.

 

THe pure fact of the matter is, Welcome are not going to survive.

 

Six directors suspended pending investigation and possible criminal charges. Including compliance director (Hmmm wonder why)

 

Roll over debt called in of £500mil by June/July

 

Further £300 mil cash burn

 

No futher lending to new customer, No more money coming in.

 

No equity left except the loan book. No material assests, 90% of premises are on lease. They dont own ANYTHING.

 

Estimated loan book £2.5Billion with impairments running up as high as £750mil.

 

NO ONE will touch them with a barge pole. All major investors are heading for the hills. Short selling and day traders are ripe on this share. They are hanging in there every day waiting for it to go tits up. Day traders are the vultures of the stock market. They dont feed on living meat!

 

Stewie.

I need to change my avatar..But cant find a good replacement.

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Hi Stewie

 

After reading it again, someone made a very valid point about the fact of how Lewis Group and Shopacheck are going to be able to collect for WFS as well as their own, current duties. The fact is they can't!

 

I think the guy dropped himself in it by saying, and I quote 'over 90% of Welcome's customers pay by direct debit' meaning it'd only be 10% extra collection duties for the staff remaining. If 90% were paying on time each month then Welcome wouldn't be in the sh*t it's in now! idiots!

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Meant to say, I've got a big envelope at home. I've asked my mum to post it through as I think it's you know who responding to my complaint. Will keep you posted on it

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Didnt you love the one comment that they are paying out on PPI claims and they are taking about 90 days to pay out. I have yet to hear of anyone who has claimed the PPI and been paid out.

 

And DG are running behind as they have such a high demand for redundacy claims. Bullllllls**t

I need to change my avatar..But cant find a good replacement.

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hi all

 

off the grid today as ive been called to london out of the blue,

very strange,

fill you in later

 

people going on about the fos and ppi

 

all the threads ive looked at, the fos has ordered welcome to repay it,

takes over a year though and welcome just take it off the end of the loan, funny balance or payments dont go down,

very dubiouse so more wait and more fos

 

 

ive also been reading some posts from new caggers,

take with a pinch of salt

 

you all know what i mean on that one

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But does the Wilson case mean that moneys paid by the borrower must be repaid by the lender?

 

 

I don't think so.

 

Wilson didn't pay until the court case, pending appeal, and was repaid when her appeal was upheld.

To me that means that you CAN'T reclaim what you've already paid - it would be classed as a "gift" to the lender (as will his original payment to you).

So I don't think the "acceptance fee" bit wll be any good to anyone who has already paid.

Carpe Jugulum

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My branch have gone very quiet, they were giving me grief last week for March payment when it was not due.

 

Told them I would call in yesterday but did not get time to, expected phone to go mad today, but nothing??????????? Very strange. I am going to put the money into my saver account until we know what is going on with them.

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whats happening

Time

Trade Prc

Volume

Buy/Sell

Bid

Ask

Value (approx)

 

 

 

17-Mar-09

09:50:17

2.14

39,990

Buy*

2.10

2.17

855.79

info-icon.gif Trade Type:

Automatic execution

 

 

 

 

17-Mar-09

09:47:55

2.10

28,000

Sell*

2.08

2.13

588.00

info-icon.gif Trade Type:

Automatic execution

 

 

 

 

17-Mar-09

09:47:24

2.09

1,278,213

Buy*

2.03

2.08

26.71k

info-icon.gif Trade Type:

Automatic execution

 

 

 

 

17-Mar-09

09:47:24

2.09

43,388

Buy*

2.03

2.08

906.81

info-icon.gif Trade Type:

Automatic execution

 

 

 

 

17-Mar-09

09:47:24

2.10

100,000

Buy*

2.03

2.08

2,100

info-icon.gif Trade Type:

Automatic execution

 

 

 

 

17-Mar-09

09:47:24

2.10

559,902

Buy*

2.03

2.08

11.76k

info-icon.gif Trade Type:

Automatic execution

 

 

 

 

17-Mar-09

09:47:24

2.08

2,090

Buy*

2.03

2.08

43.47

info-icon.gif Trade Type:

Automatic execution

 

 

 

 

17-Mar-09

09:47:23

2.04

28,000

Sell*

2.03

2.08

571.20

info-icon.gif Trade Type:

Automatic execution

 

 

 

 

17-Mar-09

09:47:20

2.04

43,388

Sell*

2.03

2.08

885.12

info-icon.gif Trade Type:

Automatic execution

 

 

 

 

17-Mar-09

09:47:20

2.09

428,612

Buy*

2.03

2.08

8,958

info-icon.gif Trade Type:

Automatic execution

 

 

 

 

17-Mar-09

09:47:20

2.09

43,388

Buy*

2.03

2.08

906.81

info-icon.gif Trade Type:

Automatic execution

 

 

 

 

17-Mar-09

09:47:20

2.08

28,000

Buy*

2.03

2.08

582.40

info-icon.gif Trade Type:

Automatic execution

 

 

 

 

17-Mar-09

09:47:16

2.04

43,388

Sell*

2.03

2.08

885.12

info-icon.gif Trade Type:

Automatic execution

 

 

 

 

17-Mar-09

09:47:14

2.04

28,000

Sell*

2.03

2.09

571.20

info-icon.gif Trade Type:

Automatic execution

 

 

 

 

17-Mar-09

09:47:13

2.09

43,388

Buy*

2.03

2.10

906.81

info-icon.gif Trade Type:

Automatic execution

 

 

 

 

*Buys and sells are calculated on the difference between the trade price and the current mid price. As such, they can occassionaly

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our loan is with welcome and it is secured on the house but the title deed says "proggressive finance", who the hell are they, are they just another trading name of welcome.

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Please note that this topic has not had any new posts for the last 3307 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

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Thank you

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