Welcome Finance - please help

dripanddrop

Hi Everybody
I have a secured loan with Welcome Finance which I took out in November 2008, for £5500 initially. The current balance is £4470. I have never been late on any payments.
I understand they are currently looking to collect in as much cash as possible and are winding up their lending arm.
Does anyone know how I can go about offering a full and final settlement, and what figure would be realistic? Is there anything else I need to be aware of?
Your advice would be much appreciated.

Cumbrian_Male

Check with the land registry to see if they registered the second charge. It has been know for them to forget to do it. If they haven't secured the loan you may have a better shot at a F&F.

dripanddrop

does this mean that if they have secured it against my home I won't be able to do a F&F?
I may have a lump sum of money coming my way and really want to be free of these people.
Thanks

dripanddrop

I've just downloaded the docs and the Welcome Finance is stated as a charge on the property.

Cumbrian_Male

You could try a F&F offer, don't know if they would accept it. They are really in deep trouble so who knows.