Help with Welcome Finance... Please

BigBro_1980

Hi,

I really need some help... This is more for my father than I.

In 2003 my dad took out a loan with Welcome Finance (am unsure if he had a loan previous to this). The amount according to the paperwork that I have seen is £17,317.03 (which seems like an odd amount and I suspect it is a loan on top of a loan... I digress).

I have been chasing my dad for a number of months about this loan and what for a settlement figure. Also I wanted a full statment of the payments he had made (he always dealt in cash and as you can imagine... he isn't very good with money).

The current balance is £21,078.03!! Up by approx £4k!!

Having looked through the 'statement', there are a number of things I don't understand...

There are a number of "Capitalisations" - which I am assuming are additions to the loan.

There are payments, which are then reversed and then a fee added on top (£20)?

There are multiple fee assessments (from £2 to £25) and none of these make sense to me.

I believe the loan was for a car... which my dad couldn't fill, so he changed it to a different loan (£17k). The concern I have now is that I have had a look at the charges sheet on our house title deeds... and in September 2006, a Unilateral Notice was added to our charges for a legal charge in 2003.

I have no clue what to do... I don't know where to start... I suppose there will be an end to this somewhere, I just don't know where.

Does anyone have anything that I can at least start with...

Thanks (and apologies for the scatter gun approach).

milliemonster

I think the first thing you need to do is sit down with your dad and have an open chat about the origins of this loan and how he has handled the account, it sounds like some of the payments he has made (by DD) have been refused and therefore he has incurred charges. The charge on the title deeds of the house will almost likely be for non payment of a debt but I am summising that this is this particular loan.

Until you get some straight answers from your dad about what has been going on, there isn't a lot else you can do