Welcome finance arrrghhhhh

bad_spender

OK lesson learned yet another harsh life lesson give welcome a wide berth....but i need some advice please

I took out a loan for 2000 pounds in 2006. Fast forward to 2008 and i still owe 1873 pounds - i have paid them over 3500 to date yet due to all the charges / interest which add to the same amount it is never going down at this rate.

Any advice since i 'had' to take the ppi even though i didnt want it and they also charged £75 for arranging the loan.

Plus the charges are since i missed a total of 4 payments since i took the loan out, and they continually harrass me by phone even though i now make my payments on time. I have £402 in ad hoc fees according to the statement and £576 in capitalisation and to date £1606 in interest. this is a losing battle....believe me i have turned my life around and am no longer a bad spender, never ever will i turn to welcome for a loan, i now save for the things i want. A lesson learned a little late, but hey better late than never. A bit long but thanks.

by the way just to show im reformed and have learned my lesson i no longer owe the following :vanquis 320 paid/ barclaycard 830 balance plus payment plan in place/ jd williams 250 paid/debt manager 128 paid...all thanks to this forum...you guys rock

Jesthar

Dang, spender - you've given them over 3.5k in only TWO years and only knocked £127 off the capital? :eek: What kind of APR are they charging? OK, just done a google search - 64% typical APR?!? :mad:

First things first, look into reclaiming charges, and possibly the PPI too. Secondly, do you have ANY options for transferring this debt anywhere? And, for once, I include credit cards in this, as you'd have to go some to get a worse deal! :eek:

Quite honestly, I'm stunned - anyone else got any idea?

~Jes