Welcome Finance

fluffyblue7210

Hi, I took a loan out with Welcome Finance in September 2004, originally for a Y plate Ford Focus for 5k. I took out an HP agreement. Im not sure what the amount financed was and have been paying 276.49 per month since. The agreement was for a 4 year period and ended in 2008. I have missed alot of payments and welcome have been quite good however we have now got to a stalemate situation. To cut a long story short. Since January I have been harassed by a guy called Raj from their asset recovery department who has tried and tried to coerse me into resigning various agreements with figures from 10 year loans to 2 year loans and threats about possession etc. I finally verbally agreed a sum of 250.00 per month for 24 months. I went to the local office today to sit down and talk through with them and was horrified to say the least. THe guys in the Welcome Office were really helpful and actually advised me to go away and demand a statement of my account as I have over 3k worth of charges on my account. I also have a balance o/s of 4.7k and am paying 18% interest. I was gobsmacked and the guys advised me to get a statement, highlight each line and submit my queries. they also said I should really offer a settlement of approx 2k in full and final settlement as basically I was being ripped off !

I then received a phone call from Raj saying he was dissappointed to hear that I had decided not to take up the offer of the payment plan and that I am now legally contracted to the old contractual payments of 276.49 and they would deduct of my debit card. I am not disputing I owe this company money however I am not in massive dispute that (a) i dont feel I have a contract at all so how can I be contracted to them for a payment and (b) how on earth do I get over 3k worth of charges.

I have requested a statement over 4 times and he now confirms that a statment is on its way, should I submit an application for a SAR report and start at the beginning.

THe lad in the office was very good and when I said that Raj keeps saying "mrs sperry you do realise you car remains at risk" over and over again like a broken record that basically tell him to do one as he cant take the car. Now he could be leading me up the garden path im sure but he seemed genuine.

I am now concerned I am locking myself into a new agreement but the only agreement I have ever signed is the original one 4 years ago. Can someone advise me which is the best route to take. I want to keep the car but albeit not at another 6k ! My DMP company would kill me. Im 8 months into a plan and succesfullty maintaining it. Many thanks
Apparently according to welcome - my original loan was for 5k well that was the price of the car, they said my original advance was for 6515? Not sure where this comes from. Apparently the full amount owing at inception was 13031.52 !

I have a balance of 4469 o/s finance, charges of £2304 AND default charges of £225.00 - making a balance of £6998. They said they are doing me a favour offering to refinance at 6k. The gentleman (he was ok) at the Branch said I should be paying maximum of 2167.00 and to go and question the HP Agreement.

Anyway I have today sent off a CCA request and also a SAR request, repetative I know but need to do it, also I am taking legal advise on the contract.

Can anyone let me know if I should continue paying my contractual payment of £276.49, can I make token payments as long as its a fair amount and what can they do now, can they take the car without a court order ?

AMBERSHADOW

If this was me I would cancel my debit card of which they have your details so they can;t take the money until you have sorted.
To many creditor's are just taking without permission.

Go cancel your card with the bank and get a new one . I am sure losing your card would be much quicker if you know what I mean

AMBERSHADOW

Also if you have paid over one third of the total then they have to get a court order But be warned if they do this the court will not lower your monthly payments you signed for in th first place I have been there

fluffy333

Hi, sorry no advice for you but just wanted to say I've been in a similar situation with welcome finance. I had a loan over three years, missed 2 payments and got stung with £1500 of charges. I spent four months trying to get a statement of my account and a settlement figure from them but was just fobbed off. In the end I sent a SAR request and contacted the FOS who contacted welcome finance direct with details of my complaint. Welcome eventually responded to the SAR and FOS request and for some unexplained reason deducted £330 of the charges - I wasn't given a reason. I have paid the account off now but am still persuing the rest of the charges and also missold PPI. Welcome are a nightmare - in the letter enclosed with my statement they said something along the lines of because I had missed 2 payments the debt became a further loan. I don't even know if they are able to do that without notifying me. Sorry for the ramble but just the mention of WF makes me so mad!! I hope someone comes along and has advice for you soon, good luck.

10past6

fluffyblue7210 wrote: »

I am taking legal advise on the contract.

Who are you taking advice from?

fluffyblue7210

I havent taken advise from anyone yet however both insurance policies I have offer legal advice, I am going to await the SAR coming back and CCA and then see where I go.

10past6

If you can afford the contractual payments, continue to pay them, don't give them an excuse to complicate the issue.

You'll be in a better position once you receive the SAR back.

Sunnie2812

Please could somebody help, as I really dont know where to turn

Of course its yet again WELCOME Finance and the bully BOYS.

I purchased a car on Hire Purchase from Car Craft in August 2007, I paid a £1000 deposit, and the car itself was £6000, the total value of the agreement a shocking £14809.00 I have maintained all regular payments of £310.41 per month since then to the end of Jan 2009.

My employment ended and I have no further funds to pay for the car, I am aware that I have payment protection but the Guy told me that is for people who have been made redundant only. but I have to telephone the insurance on Monday, but they could not stop the colection bullies calling round!!

I recieved a letter from Welcome saying I has missed one payment, I came home and found that the Bully Boys had somehow entered my place of residence how I dont know and let a letter on my front door, asking me to contact them, the letter is dated 26/03/09.

This morning I am scared as I have had banging and banging on my front door, to the point, of where I am so frightened I may have to call the police.

I telephoned WELCOME asked who these guys were he said they were from the collection department, they will hang around and not leave till they take the car away,.The car is parked on a private driveway.

I have missed 1 payment, but the 2nd is going to be missed shortly.

I do believe they need a court order now? as I have paid a 1/3 of the amount.

PLEASE could someone help me...

Should I get help from a Solicitor, would they help as I am unemployed??

aligerdie

hi there,

don't panic, if they're still there, don't open the door.

might be worth starting a new thread urgently (I don't know how to do links) so that this gets noticed quicker

Good luck xxx

fluffyblue7210

i have missed lots of payments and not experienced that type of harassment with them. I would report it as thats bullying and if you have only missed a couple of payments then it seems a little excessive. Is it the Asset Recovery department who are harrassing you>

Sunnie2812

Hi and thanks for the replies..

I was told by Welcome finance its the Recovery company, it was so frightning as they were going round and round and kept coming back. The car is park on a private car park.

How do I start a new thread?