Friend in crisis - Welcome Finance

Always

Hi all

I had a friend come round this afternoon and she ended up spending about an hour on the phone to Welcome Finance being messes around, passed around, given conflicting information and eventually just being told to pay up or else... anyway by time she got off the phone she was very very upset to the point of tears, so I thought I'd come and get some advice - if anyone can help?

Basically a year ago her and her partner took out a car loan for £15k as they have six children between them and needed a very reliable (big!) car (three of the children live about 500 miles away). Anyway a year later, they are both on majorly reduced hours at work due to recession and struggling to survive financially. They really are doing everything they can, but have built up £900 of arrears with Welcome and cannot afford to pay £375 per month (let alone the arrears). They have tried for six weeks now to explain to Welcome finance, and ask them to accept£275 per month until things get better, but WF just threaten them with repossession and CCJs etc. My friend really isn't the crying type (unlike me ) so for her to cry in front of me today shows me how bad things are.

Anyway is there anything she can do from here? At the moment she almost wants them to take the car because she's had enough, but surely there must be some way to make WF accept a reduced payment or something that doesn't leave them carless and still in a heap of debt!

Any help much appreciated!

Always

RobertoMoir

Well there are various debt counselling services she can contact, some of which are discussed here, and they may well be able to help, but no-one can make the loan company accept lower payments at this stage - your friend and her partner made a comittment after all.

What I will say is that while they may be able to reposses the car and they can indeed look to get a CCJ, at the moment this is likely to be bluff on their part, at the moment at least.

She shouldn't discuss things on the phone with them. She should write to them. It's easy for them to bully people and make statements that are a little close to the knuckle on the phone and nowhere near as easy to do so in writing.

Always

Thanks Roberto, I did tell her I didn't think she should be talking to them on the phone, but she seems to think if she can explain to them enough that they can't pay all of it, they will help her... I am much more cynical

maestro1302

As above, best thing to do is get in touch with a Debt Management Agency, and if they handle it for your friend, that will be the end of her dealings with Welcome, they are not allowed to contact your friend, it all has to be done via the Agency. BTW, although WFS are being awkward with your friend, the DMA would not be the path they would prefer she went down, so would definitely advise her to do it!