Welcome Finance (owned by Cattles) reported in trouble again

theartfullodger

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6122307.ece

Sunday Times, 19th April, Business Pages

Ho hum, sounds bad for the workers at WF..


"

More than 1,000 jobs have been cut from the main offices at Batley, West Yorkshire, Hull and Nottingham, with more job losses seen as inevitable.

Unless RBS and the rest of the group’s creditors agree to roll over a £500m credit line that is about to expire, Cattles is likely to fall into administration. Its total debts stretch to more than £3 billion.

Two years ago Cattles had a market value of more than £1.5 billion; now its shares are considered worthless and its bonds trade at 6p in the pound."

Cheers & Best Wishes to all, including those who don't agree with me..

Lodger

Nathan82

Hmm its getting worse....
they closed Welcome Car Finance, and RAB department...

CHR15

Some would say the workers of WF are the victims.

I would say some jobs should never have existed in the first place.

The dole queue is too good for the workers of WF. I have never had issues, ~I simply read the posts on here about how they treat their customers.

Sol00

Even the ones at the top! I'm having issues again with letters 'disappearing'.

DeeDee07

We have had car loans and a cash loan from welcome and have never had any problems.We DID however ring to ask for another loan last week,went through ok then went to payout department who said no.We have never defaulted and did wonder why,i guess this explains it all.

Sol00

Welcome aren't lending to new customers at the moment, but they don't seem to be lending to existing either just now.

Jade34

I'm in the same situation as you DeeDee07, applied for a top up loan back in March and it got as far as the payout department and nothing's happened since. I've been with Welcome for a few years and never defaulted or had any problems with them. I've phoned dozens of times to ask what's happening and been fobbed off with excuses yet when I phoned customer services to lodge a complaint, I was told straightaway that they're not lending to anyone at all at the moment. Why couldn't they have just said that 3 months ago??? I'm cancelling my application as there's no prospect of the money being paid out.