Welcome finance

LEEDS_UTD_4EVA

Hi

I was wondering if anybody can help me

Im currrently on a DMP with my local c.a.b, I have a car finance with welcome finance and i have payment plan with them for half my contractual amount whilst on my dmp. However they have now cancelled my H.P agreement due to me defaulting on my full contractual payments for the last 12 months and have requested the amount owing.

I rang them up Friday and they went through my income & expenses & agreed that i contunue paying the amount i have been paying as there is no disposable income.

However they have requested i send them my & my partners bank statements & both of our pay slips.

I have nothing to hide but feel very uncomfortable that W.F want these for there records (knowing the type of creeps they are)

Are they legally entitled to ask for this information??? and what are the consequences if i refuse to send them?

Any help would be appreciated

Tixy

Hi Leeds as posted to the previous thread

Tixy wrote: »

Hi Leeds

Not they are not legally entitled to these documents, you would only HAVE to provide them to a judge in court. I would not want them to have this info either.

I guess to clarify they are legally allowed to ask for them but you legally do not have to supply them.

Stressedoverdebt_2

LEEDS_UTD_4EVA wrote: »

Hi

I was wondering if anybody can help me

Im currrently on a DMP with my local c.a.b, I have a car finance with welcome finance and i have payment plan with them for half my contractual amount whilst on my dmp. However they have now cancelled my H.P agreement due to me defaulting on my full contractual payments for the last 12 months and have requested the amount owing.

I rang them up Friday and they went through my income & expenses & agreed that i contunue paying the amount i have been paying as there is no disposable income.

However they have requested i send them my & my partners bank statements & both of our pay slips.

I have nothing to hide but feel very uncomfortable that W.F want these for there records (knowing the type of creeps they are)

Are they legally entitled to ask for this information??? and what are the consequences if i refuse to send them?

Any help would be appreciated

I most certainly wouldnt send them, welcome finance are sharks!

LEEDS_UTD_4EVA

Thanks guys, i may just send my SOA which was done by my local CAB and see were it goes from there, No doubt they will take me to court for non compliance

Tixy

They could take you to court but not because of not providing these documents. However they could simply because you broke your original agreement. But try sending in the statement of affairs first (after all they presumably have already had that info). Remember it costs them to take you to court and if you can't afford more money than you are paying then there is little benefit for them to do it (not that that always stops them of course).

Good luck

GeorgeUK

Have you paid more than a third of the HP for the car?
If so they would need a court order to reposess.

If you can can't afford the car and can do without it, you could do a voluntary termination.
You can hand the car back at any time and only be liable for 50% of the initial cost.
You need to do this in writing though so you have proof that you sent the letter.
If the car got reposessed you woudl be liable for the full amount.

LEEDS_UTD_4EVA

They have ended the HP agreement so VT is no longer an option. When i rang them frst they tried the bully option but called their bluff and said you more than welcome to take the ca ( i even offered tyo drive the car to a local office lol), but without the car i would have to pay for train fares to work, so they would probably get £1 a month just like all my other creditors at that point they passed me on to another team (who agreed i couldnt pay mor than i was currently paying)