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Welcome Finance - This company needs to be banned.


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http://www.consumeractiongroup.co.uk/forum/legal-issues/244025-delfi101-et-al-weightmans-2.html#post2729941

 

Please please please, do not look from the doom and gloom point of view, see the above thread, the case above would have been declared "enforceable" by many on this forum, we took it to trial, won and recovered our costs in doing so.

 

Welcome are notorious at making errors, we have hundreds of cases on the go against this type of lender and we have yet to lose a case where we have gone to trial against them. I accept that you are reliant on the docs givng you the ammo and sometimes there is no unenforceability but the fact remains that 9 times outtta 10 its in our favor not the lenders

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Hi everyone,

 

Thank you for your posts.

 

Yes I tried the media but nobody replied to me.

 

I fully accept that there are others on here that have been dealt with very badly by this company so I suppose that I have been fortunate.

 

I suppose that I have got to an age when the fight has left me now.

 

Gram 1, my loan was simply a Personal Loan.

 

It's not a secured loan or for a car.

 

Let's just say that I am now only paying around 10% of the original monthly amount and it will take years to pay off the loan.

 

WF would rather have some money than none at all so after providing them with my monthly income and expenditure that was endorsed by the Debt charity CCCS, they had no option but to accept the figure that I could afford each month.

 

Good luck with everything.

 

Voda

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Are you absolutely certain that they have frozen the interest and charges? Welcome wouldn't be Welcome without some [problem] or other. If they have frozen the interest and charges, have they agreed to do so for the lifetime of the loan?

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Hi,

 

Yes they have frozen the interest and other charges.

 

I recently received a statement from them and there are no charges anymore.

 

They have not actually said that this freezing is for the lifetime of the loan.

 

I suggest that the best way to deal with WF is to talk to them like I have done.

 

Voda

 

Are you absolutely certain that they have frozen the interest and charges? Welcome wouldn't be Welcome without some [problem] or other. If they have frozen the interest and charges, have they agreed to do so for the lifetime of the loan?
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Good luck to you if they have done this but I'd be sceptical of it lasting for the lifetime of the loan. And then where will your reduced payment get you once they re-apply interest and charges every month?

 

If you can get the balance down quickly whilst it's sans interest then fair enough but I've had 8 years of dealings with Welcome and if they told me it was Wednesday, I'd buy a newspaper to make sure.

 

I hope you got everything in writing.

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Totally with you Ted, before I sent one letter I tried in vain for 5 months to discuss and resolve by talking to them . . only with shear desperation I wrote a letter and did my homework to realize there was far more wrong than my orriginal "small" query.

I am a consumer helping other consumers. Together we can and will make a differance. Please double check any information or advise I may give as I like yourself am learning as I go along in life.

1) give a small donation to this site to keep it going because without this forum I would know nothing.

2) Use your experience to help somone else on another thread.

 

Please do not PM me, my mail address is my username at this site address . I will not under any circumstances give out advise or help through mail, only on the open forum, however feel free to mail me to point me towards your thread and general talk etc.

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Hi Voda

 

I appreciate how stressed and despondent Welcome situations can make you feel but I urge that you keep a very close eye on your accounts and credit records. In my personal experience Welcome agreed to "freeze charges/interest" in my situation, only for me to then be defaulted behind the scenes and extra charges added to compensate the interest they froze. Bear in mind that they are under immense scrutiny at the moment and need to be seen to be playing by the rules, indeed they may become lawful and reasonable in their actions if they survive as a company? Who knows? But many people are, as has been said on this forum, not treated as fairly. I would be having a cautionary attitude and microscopic eye on your account, if you don't already have it, get it in writing the term the interest will be held and how much will be applied when that is up, and perhaps be prepared for harassment again for increasing payments after a period of time. I do wish you all the best and glad it has been resolved somewhat for you.

 

am :)

 

Hi,

 

Yes they have frozen the interest and other charges.

 

I recently received a statement from them and there are no charges anymore.

 

They have not actually said that this freezing is for the lifetime of the loan.

 

I suggest that the best way to deal with WF is to talk to them like I have done.

 

Voda

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Not the only one with a cautious word!! I must type quicker!!!!:grin:

 

Good luck to you if they have done this but I'd be sceptical of it lasting for the lifetime of the loan. And then where will your reduced payment get you once they re-apply interest and charges every month?

 

If you can get the balance down quickly whilst it's sans interest then fair enough but I've had 8 years of dealings with Welcome and if they told me it was Wednesday, I'd buy a newspaper to make sure.

 

I hope you got everything in writing.

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Voda, please do not give us the oppertunity to say "told you so" . take the very good advise given above.

I am a consumer helping other consumers. Together we can and will make a differance. Please double check any information or advise I may give as I like yourself am learning as I go along in life.

1) give a small donation to this site to keep it going because without this forum I would know nothing.

2) Use your experience to help somone else on another thread.

 

Please do not PM me, my mail address is my username at this site address . I will not under any circumstances give out advise or help through mail, only on the open forum, however feel free to mail me to point me towards your thread and general talk etc.

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Totally with you Ted, before I sent one letter I tried in vain for 5 months to discuss and resolve by talking to them . . only with shear desperation I wrote a letter and did my homework to realize there was far more wrong than my orriginal "small" query.

 

This is exactly what happens. After Compliance originally wrote to say they couldn't find my agreement, my account manager at the branch phoned to say he had a copy and he would send it out. Needless to say he was lying. Welcome employees, in my experience, will say anything to get you off the phone/shut you up/get a payment.

 

I genuinely hope Voda had everything on paper. Welcome have a history of rewrites - as we all know - and having reduced payments in the past, Welcome simply created a new account with the reduced payment barely covering the interest. This is despite me being in a DMP at the time.

 

My advice is to always assume Welcome are lying or are wrong until they prove otherwise.

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Hi everyone,

 

Sorry to be a messenger of doom but I have seen various people on here saying that they are going to do this and do that with Welcome Finance.

 

i.e the Fraud Squad, the Inland Revenue, the National Press, Television or whatever.

 

Unfortunately whether any of us like it or not, we are indebted to these people as we borrowed money from them and despite some of their practices, a debt is a debt.

 

Becoming a Bankrupt or taking out a Debt Relief Order is the only way to shake these people off.

 

I have been honest and up front with Welcome and they have frozen all my interest and other charges and I am paying them a very reduced amount which they have accepted.

 

" You cannot get blood out of a stone "

 

Hey Voda,

 

Very long time no chat on this issue.

 

I agree with you and I have mentioned this before. Take what you need from the thread but do NOT pin all your hopes on what others are doing. I am like PT I will have my loan reduced by a reasonable amount and get what I originally aimed for.

 

I was led down the road of "my loan is scrap" and "interest on acceptance fee" and “direct group” and “Healthcare insurance” and and and and and and....... the list goes on.

 

I believe this was down to one member in particular who was overly passionate about Welcome finance and started giving hope but when it came to crunch time, never heard from him. The intensions were good but follow up was null.

I think we both know who I am referring to.

 

I stopped reading this thread and following it for those exact reasons, I got side tracked by others failings of media publicity, regulator investigations, FSA, un-enforceable loans etc etc etc. It never stopped. It’s just so easy to be pulled into it. And to be given false hope on top of everything, it was just not realistic.

 

I am still in the process with them, but I will win. This forum has given me the tools and information to take it to the next level; I would never have been able to manage on my own. So for that I am thankful.

What I regret is I wasted so much time getting involved with the politics of Welcome/Cattles.

 

Who cares if the shares are suspended and the directors go to prison, or the branches all close. The debt will still exist and they will still call on a Saturday morning to chase for money. If it’s not Welcome then it will be whomever the loan book is sold to.

 

It just makes me smile a bit when I hear they are being dragged through broken glass as a company. They took advantage of my desperation, and that is unacceptable. I just want a fair deal.

 

You are right when you state " cant get blood from a stone" But what I say is "where there is smoke, there is fire" and Welcome are feeling the heat!

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

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It remains to be seen what will be done with the loan book. However WElcome's history is out there and everyone in the finance industry will be aware of the trouble buying bad debt will bring.

 

It's interesting how welcome hassle some people more than others. Time will tell what welcome plans to do with the uncollected debts but in the meantime they will try to collect as much as possible by any means.

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Realistically I do not think at this stage they will accept 25% .no harm in trying I suppose and if accepted be sure to let us all know as would inspire us all to offer less. They are desperate for money and are in serious trouble themselves and their book will be sold for pennies in comparison. to to let 75% go from every loan would be financial suicide. . .

 

Check out Majors post here which might help with guidence, however I do think every case is differant, like is account in arrears or dispute how much owed over what term etc . .

I am a consumer helping other consumers. Together we can and will make a differance. Please double check any information or advise I may give as I like yourself am learning as I go along in life.

1) give a small donation to this site to keep it going because without this forum I would know nothing.

2) Use your experience to help somone else on another thread.

 

Please do not PM me, my mail address is my username at this site address . I will not under any circumstances give out advise or help through mail, only on the open forum, however feel free to mail me to point me towards your thread and general talk etc.

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I hope FOS take the longest time possible sorting mine out. Then if there is time left before they Give Up The Ghost, they can take me to court. With all the advice available on CAG as a whole I am confident I will get what I want.

 

I don`t mind paying the sum I owe at all. The thing is they took Me and the Wife for Mugs at the Very Start, which is the usual Modus Operendi I beleive.

 

This is after all their Business. If they did it Correctly and with Sincerity from the Start there would be NONeed for any of Us to Even Begin to think that there could be a way of Not Paying what We Allegedly Owe.

 

If they can not set up a Loan Agreement that is Honest and Fair, Following the Set Procedure then they DO Deserve to be Treated with as much Ill Will and Contempt that I can Muster.

 

All of Our Complaints Stemmed from how the Local Account Damager had treated My Wife. I asked at the Beginning for this **** Bully Boy to Apologise for his behaviour toward My Wife. They chose to ignore us totally on that.

 

This then Meant I Began to LOOK at how he had been running Our Accounts a bit Closer. I soon realised that they had taken the **** from the Second We entered the office ( we must have been dressed in green and called Mr and Mrs. Cabbage that day).

 

Now I will use EVERY THING in MY POWER to NEVER EVER Pay these *ASTARDS Another Penny While I Still Draw Breath.

 

The Great Advice Given Freely, Here on CAG will if I /WE use it Correctly be a Fantastic Weapon in this War Against the ****, and of course any other Companies who Feel THEY DO NOT Have to Follow the RULES, that is even if I Personally Do Not have Any Connection with Them.

 

Even though I / WE have No Idea Who the Advice Givers are ( that is what is given, Advice. It is up to each Individual to check it out and up to them how they USE it) Or What They Actually Do.

 

I will, Now I Am Becoming More and More Aware of MY/ OUR Rights ALWAYS BE PROUD to call them MY FREINDS

 

Cheers, MARK

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I am totally with you Mark, every word of your post I can and do relate too. we are all real people that deserve better than they have dished out and now we are fighting back to defend ourselves and our own and others in the same victimised situation.

I am a consumer helping other consumers. Together we can and will make a differance. Please double check any information or advise I may give as I like yourself am learning as I go along in life.

1) give a small donation to this site to keep it going because without this forum I would know nothing.

2) Use your experience to help somone else on another thread.

 

Please do not PM me, my mail address is my username at this site address . I will not under any circumstances give out advise or help through mail, only on the open forum, however feel free to mail me to point me towards your thread and general talk etc.

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Yes OZZY, WE are ALL Victims of these ****. But We here on CAG are NO LONGER going along like Sheep to the Slaughter.

 

If WE can make a few others aware of their Own Rights when it comes to Consumer Affairs,then I think these Companies will have NO Choice but to do everything properly. Which is, after all is said and done what they should be setting out to achieve anyway.

 

The trouble is, WE are also fighting Corruption at the same time. Or judges and a Legal System, along with Regulators who are unwilling to do the right things for the Consumer, perhaps because they are NOT aware of the rights of People/ Consumers. AND they are NOT Struggling to pay the Bills and Feed their Children.

 

Cheers, MARK

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Mark and Ozzy.... Well done and I am with you all the way !!!!

I too have paid my loans for years until I was informed with good information that I had been Wrongfully charged for certain things. Had I not recieved that information from CAG I would still be paying for things I should not have been charged for... I am a tax payer and have never ducked my responsibilities and never will. But the law is the law and we signed our agreements in good faith !!!

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Hi Vilka. Good luck with that. Mine is now in the hands of the F.O.S. so will see where that takes me. I have to say. It is strange I have a secured loan and have not had any default notices or threats of court so I believe the information Postggj gave me is true that my contact is unlawful and I am hoping the F.O.S. come back with that conclusion.

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Hey Voda,

 

Very long time no chat on this issue.

 

I agree with you and I have mentioned this before. Take what you need from the thread but do NOT pin all your hopes on what others are doing. I am like PT I will have my loan reduced by a reasonable amount and get what I originally aimed for.

 

I was led down the road of "my loan is scrap" and "interest on acceptance fee" and “direct group” and “Healthcare insurance” and and and and and and....... the list goes on.

 

I believe this was down to one member in particular who was overly passionate about Welcome finance and started giving hope but when it came to crunch time, never heard from him. The intensions were good but follow up was null.

I think we both know who I am referring to.

 

I stopped reading this thread and following it for those exact reasons, I got side tracked by others failings of media publicity, regulator investigations, FSA, un-enforceable loans etc etc etc. It never stopped. It’s just so easy to be pulled into it. And to be given false hope on top of everything, it was just not realistic.

 

I am still in the process with them, but I will win. This forum has given me the tools and information to take it to the next level; I would never have been able to manage on my own. So for that I am thankful.

What I regret is I wasted so much time getting involved with the politics of Welcome/Cattles.

 

Who cares if the shares are suspended and the directors go to prison, or the branches all close. The debt will still exist and they will still call on a Saturday morning to chase for money. If it’s not Welcome then it will be whomever the loan book is sold to.

 

It just makes me smile a bit when I hear they are being dragged through broken glass as a company. They took advantage of my desperation, and that is unacceptable. I just want a fair deal.

 

You are right when you state " cant get blood from a stone" But what I say is "where there is smoke, there is fire" and Welcome are feeling the heat!

 

Well Stewie For the same reasons i became a bit disenchanted with all this. The person to which you was refering also had a female allie who was taking welcome to court for various things. One of them was this undeclared commission business - and the hustanger v wilson case.

 

I provided them with evidence of these undeclared commissions and even wrote a letter stating this could be used if needed, (after being requested to do so).

 

I was contacted by members of the site team asking to see the evidence. Again i forwarded to at least two.

 

But whenever i asked what i should do about it - and how i go about using it i got no reply.

 

I even asked the original 2 people who we all know. and all i got is its all going through the court and has to be hush hush line. Then one of them just disapears. Won Their case and got a confidentiality aggreement? Thanks! lost and not willing to tell us on what grounds? thanks again!

 

I have picked up a lot of good info on the site but feel i spent to much time on side issues, game playing and helping others boost their egos.

 

So in short guys - read the forums - pick out the pieces of info you need - take what advice you can relevant to your situation - help others with your knowledge - Dont take just one persons word as gospel. And dont get side tracked.

 

By the way does anyone know if anyone anywhere has used the Hurstanger v Wilson case successfully againt welscum?

Edited by dadofholly
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another worthwhile question is what they intend to do about all the undisclosed commissions paid to Welcome elite Brokers as they dont appear to eager to answer these questions in court.

 

jdene - Have you got any evidence on this? has anyone you know tried to take them to court and welcome have backed down over this issue?

 

Would be very interested to know.

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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

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