Urgent help required for Welcome finance

southernred

I had a secured loan approx 2 years ago to help with bills and separation of marriage etc

totalled approx 14k over 5 years...not a problem

well that was until last week, I got my first annual report(2 years old and no report before now)

they have my loan at 180 months!

and by my odds that will be nigh on £60k paid back!

surely this cannot be right, I have tried calling and no luck.....it has started to affect my life now, I cant sleep with worry

any help or advice would be appreicated

CJ

Clive_Woody

southernred wrote: »

I had a secured loan approx 2 years ago to help with bills and separation of marriage etc

totalled approx 14k over 5 years...not a problem

well that was until last week, I got my first annual report(2 years old and no report before now)

they have my loan at 180 months!

and by my odds that will be nigh on £60k paid back!

surely this cannot be right, I have tried calling and no luck.....it has started to affect my life now, I cant sleep with worry

any help or advice would be appreicated

CJ

What does it say on your original loan agreement (i.e. how long is the repayment period)? if the agreement says 60 months and the repayment amount has not changed since you first signed then I imagine this is a c*ck-up by welcome finance.

Potential_Advisor

Clive_Woody wrote: »

What does it say on your original loan agreement (i.e. how long is the repayment period)? if the agreement says 60 months and the repayment amount has not changed since you first signed then I imagine this is a c*ck-up by welcome finance.

I would definitely agree with Woody, check your original agreement, it is illegal to alter without your agreement so do check it, and make sure you didn't agree anything in the intervening 2 years. I would advise this anyway but...there are several threads running now re Welcome Finance and their nefarious activities so be careful and if it is wrong, take steps to correct it and make sure they do. They are in serious financial trouble themselves and are obviously pulling out a few stops to recover cash. Im not saying they are in your case, but please check, for your own peace of mind as much as anything. Good Luck and Take Care.