Help re Secured Loan Finishing with Welcome Finance

hamish222

Hi
I took a secured loan out with Welcome Finance as needed new car and ex husband had ruined my credit and could not get normal loan. I thought I still had 2 payment to go but received a letter today from irwinmitchell solicitors disharge centre stating acting on behalf of welcome and loan was now re-payed and if I send them a cheque for 118.13 that they would organise for welcome interest in my property to be removed.
Is this normally what would happen at end of loan. It is just I have never heard of this company.
Thanks

Xbigman

You should phone up and ask Welcome for the current balance. If its zero then ask for that in writing. The solicititors could be wrong.

As for the fee, I can't recall ever paying to have a charge removed when something was payed off. It sounds like they are trying it on to get some extra money out of you. Surely if the charge stayed on it would be for £0 anyway.

Anyone know for definate?
Regards



X

Edit. Did your original terms and conditions mention this charge?

AMILLIONDOLLARS

If a charge needs to be removed, I am sure you can do this yourself by applying directly to the courts. I will be very interested in hearing about this as I am also due to pay off a secured loan too. Sounds like someone is trying to make money out of the situation. Give First Plus a call to find out.

AMD

Wel1

Hi

I used to work at Welcome until recently.

Im not totally clued up on the process but if your loan is paid up in full then the charge is automatically removed surly. If you paid up, welcome would not be putting anything in to reposeses your property as there would be no interest in it and the loan as been satisfied.

Welcome do hoewver use irwin Mitchel sp phone them and ask them about it as they will know more.

Try calling 0845 543 2552 this is Welcomes collection team.

hamish222

Thanks for advise. No mention on my original agreement. Spoke to someone in Welcome who did not know anything about letter but stated that loan was clear and would send me a letter and a chq as said they owed me £49

rach8736

sorry to jump in,i also have a letter from irwin mitchell saying my loan is paid in full and to discharge the mortgage i was to pay a fee,on my credit file it is marked as satisfied,this is were it gets intresting.i still owe on the loan but the letter was received when the FOS were investigating my account with them.would this stand up in court as they have just issued me with a default notice and are threatening repposesion