Welcome Finance Loan Settlement

marks77

Hi, can you barter when settling loan accounts?

For example, a £4500 settlement figure, offer £4000, etc......

As Welcome are in the !!!!!! didn't know if they would take this kind of offer. Would it damage a credit file should this happen?

Ta.

Hughesy84

Yes usually. Say you are willing to pay your loan off - however is it possible for a lower settlement figure if you settle it that day..........

I did it for my girlfriend with other companies.....Some she owed £900-£1500 but only had to pay £150-£250 to.

Hughesy84

Also did you say Welcome are in trouble?!! If so, why?

kittiej

They've been cooking the books lol.

The car finance has gone, their offices are closing rapidly as they don't have enough money to pay their creditors and the share holders want their money first before the banks.

It's not looking good for them.

Hughesy84

What will happen if you have a loan with them? Will another company buy their loans and chase the people for them?!

Sol00

It's unlikely that Cattles will go under, the bank consortium probably won't allow it.

If it did happen, then yes, another company would chase.

marks77

*Bump*

Any more ideas.....Gonna settle today...

BenL

Have a search around the forums but I think if you settle for less than the total they mark it as partial and trash your credit records for 6 years.