Welcome Finance - Secured Loan

bywaysandhighways

Hi I'm not sure if I am posting in the correct place but can anyone give me some advice? I have a secured loan with Welcome approx £17000 still owed. Tey have been a nightmare from start to finish (long story that I wont go into at this time!!) But they have never given me any copies of the original, agreement that I signed (I have asked a number of times for them to provide them). I suspect that they don't have anything signed by me. So my question is, am I within my rights to insist they provide copies? If they don't or cannot provide "proof" that I took out the loan am I able to contest the loan? Or am I being stupid?? Any assistance greatly received!

Luksi

So you got a loan without sending off signed paperwork? Seems a bit strange, doesn't it?
But anyway, you, as their customer and a current loan holder, are in full rights to obtain documents confirming that you actually did sign papers and as a result took out this loan with them. Those documents should clearly state your signature, date when the loan was taken and all the necessary loan details like (APR, terms, monthy instalments, etc.).
If they don't provide you with such, you may appeal against the loan on a 'no evidence ground' and take them to court to challenge them.
Hope this helps.

Rafter

A copy of your loan agreement should be filed with your property deeds as this is a secure loan.

I think you are clutching at straws trying to get this loan written off due to poor administration by Welcome - who has laid off loads of staff in the last 12 months.

Maybe contact your solicitor to see if the charge was correctly applied against your property?

R.

Hippocampus

Not clutching at straws at all. When did you take out the loan? Pre April 2007? If an agreement does not exist, then they cannot enforce the debt. End of.

Do you actually remember signing an agreement though? I'd not only ask for a copy of the agreement, but I'd go the whole 9 yards and SAR them. Do NOT sign any letters you send. Photoshop is a wonderful thing.

PNPSUKNET

this is the reason welcome as so underhand, they deal with loan doggers

jonesMUFCforever

The debt may not be enforceable but if the charge is registered at Land Registry try selling the property without paying off the loan!

Hippocampus

I'll go further. If there IS no agreement and never was, then there is no loan. The law sees it as a gift. Therefore a simple win at court to have the charge on the property lifted.

What's a loan dogger anyway? Is it someone who loiters in car parks watching lenders engaging in extramarital shenanagins?

iolanthe07

What's a loan dogger anyway?

Perhaps the poster meant 'loan dodger', which is what all these threads boil down to.

Hippocampus

As opposed to Welcome, who are LAW dodgers?

I don't think too many people on the threads here will see themselves in court on fraud charges.

Certain Welcome employees on the other hand... Well, you catch my drift.

view

Hippocampus wrote: »

What's a loan dogger anyway? Is it someone who loiters in car parks watching lenders engaging in extramarital shenanagins?

oh my this made me laugh, was thinking along the same sort of thoughts!