Welcome Finance Again!! (Sorry!!)

mattlfc79

Hi good people,

A few years back I took out a £500 loan with welcome. This has since escalated to a debt of £3800. I have renewed the loan a few times to get my payments down as I couldnt afford them.

Recently I have been paying via a recurring card payment. Everything seemed ok till I got a phone call from my local branch. Apparently I havent paid for may, june and september. However they still took the payments off my card in the months in between. Apparently they have lost my details... hmm I smell a rat!

Last time I renewed my loan I didnt actually pop in to the office to sign the forms so I am thinking that maybe this loan isnt valid without my signature, but knowing these cowboys they will have forged my signature!!! Wouldnt trust them as far as I could throw them lol.

I have demanded a statement of the last 12 months activity on my account and was shocked at the amount of charges applied to my account! £10 for a phone call, charges for the past 12 months are in the region of £300 plus the ridiculous interest they charge!!

What should I do? I dont want to see my credit agreement incase they force me to sign it etc!

I wonder how many more charges have been applied to my account over the years!!

I just want to get away from these cowboys but due to the current climate I cant get anymore finance to pay this debt off!

Any help would be greatly appreciated.

Many thanks in advance

Matt

carroger

You say you didn't sign anything ???? You can't have a loan without some sort of paper agreement have they not sent you any details ??? I think maybe you should check out the rules on distance lending to check where you stand a google search should give you the info ...If you really think that something dodgy is going on then you MUST contact the FSA or the POLICE now !!!

mattlfc79

I didnt sign anything, however I did verbally agree to popping in to sign the agreement. They have never chased me yet to sign it though. I am so unsure of what to do, is a verbal agreement legally binding and I guess they would have to prove that there was an agreement made over the phone wouldnt they???

I have just cancelled the direct debit with them as they want to up my monthly payments to cover the missed payments (missed due to their mistake not mine!)

What do you guys suggest I do?

Regards,

Matt

mattlfc79

Jeepers, looks like everyone is complaining about these scumbags at the minute!!!