Welcome Finance / Cattles Finance

Hippocampus

The administrator will TRY to collect. hehehehe. On a shed load of dodgy accounts? They'll have fun.

Insomniac666

i'm having a few problems with WF over a car loan arrears, have they really gone bust?

Kazipoo

I have a car finance agreement with them and a loan, both will be finished in the next 18 months. I haven't really had a problem with them. I deal only with the local office, and find that they sort any problems effectively. My finance agreement was so low that even dealerships couldn't compete with 2.8%, although that was about two years ago. The loan obviously is higher, but still not at the level some of you seem to be charged.

The Welcome Car Finance and Welcome Loans arm of Cattles Plc are no longer accepting new customers, however the Shopacheck Loans arm is still alive and kicking. I have been led to believe by the local office that this may change over the next few months, and they may start to offer Loans through Welcome again. Don't know if it is true though, but the same staff all seem to still be employed at my local branch, so surely it can't be that dire?

compliant

Not going bust at all......there are some big wholesale financiers who really don't want to see a 2.5 million loan book going kablooey....for now it seems that they are quite happy to see WFS, ratchet up it's collections unit from about 20 full time hastlers to 80....and go at it hammer and tongs to claw back as much cash as possible....in fact while making redundancies in sales they are actually taking new collectors on right now.

Far from it getting easier for WFS defaulters expect the calls to get more frequent, the agents more intense, and the charges to go thru the roof. As for the advice to not take out loans with them, well as of Monday they will only take those who might as well try their local bank, their credit score is not that shabby....the 109%APR loan productss are being withdrawn.

WFS is down but it's not out and chances are that even if it did go bust, the debts would be sold on...and I wouldn't expect the people buying those debts to be much easier to speak to if you're in arrears.