Welcome Finance unfair charges

Claire1982

HI

I wonder if anyone can help me - i have a loan with Welcome finance that was supposed to finish this December. Due to a chnage in jobs and house i ended up £700 in arrears - which i have now got down to £500.00 i have spoken to them today and they have said that it is going to take me an extra 2 years to repay the loan as they have charged me over £2000.00 in extra interest for the £700.00 arrears that are now down to £500.00 - Is there anything i can do about this it just seems totally unfair and extortionate charges. At the time when i changed jobs and moved house they offered me no payment reduction or anything to help whatsoever. I am supposed to be getting married next year and as it stands my loan is more than what i orignally took out and i have been paying £150.00 a month for 2 and a half years. Can they do this? They also said when i spoke to them that they have no procedures for helping people and there is nothing they can do for me at all.

What am i supposed to do?

standupguy

First thing to do is ask for a full statement of account detailing in full the reason and amount and date for any extra fees or interest added.

Once you have that you can compare to the terms of your original agreement and take a view of what is fair or unfair and start to do something about it.

bad_spender

hiya, what if you cant find the original document? Ive paid way too much to these ppl. I have £1500 left to repay which is actually all charges

Sol00

You should send in a CCA request if you've lost your agreement. It costs £1.

Claire1982

Forgive me for asking but what is a CCA request?

gomer

Consumer Credit Agreement.

Sol00

It's a copy of the agreement you would have signed to take the loan. You'll be able to see the T&Cs etc of your loan.