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Im desparate to get the interest lowered on my secure loan with Welcome Finance

Saved123
Saved123 Posts: 5 Forumite
in Debt-free wannabe
:DI have a secured loan with Welcome, and would so love to get the interest lowered or the loan recapitalized. Do i have any chance?

Comments

  • DarkConvict
    DarkConvict Posts: 6,347 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    You could ask them, but knowing welcome from what i read on the forums i doubt they will do it.

    What is it secured against, a car? If it was done as hire purchase, some agreements have a voluntary repossession agreement.

    Could do a CCA request? http://forums.moneysavingexpert.com/showthread.html?p=26867731#post26867731
    If unenforceable they might be willing to give you some leeway.

    End of the day, interest is there profit, they wont give it up easily.
    Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.

    There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies
  • ceejaydee23
    ceejaydee23 Posts: 434 Forumite
    Part of the Furniture Combo Breaker
    Myself and my otherhalf found it cheaper to get a personal loan to payoff a car finance loan! saved nearly £5k in interest!
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