Welcome Finance loans, do they ever end??

angie1001

Hi there,

Im going to cut this really short but in May 2003 my husband and i bought a car from yes car credit. We were unable to get credit from them so got credit form Welcome finance! grrrr

The car itself was a fiat punto costing £3,900 including ridiculous charges that i wont go into. So you would think by now it would be paid? We did struggle with a couple of payments but that was a long time ago.

My husband has called several times to see where we stand and why we are still paying £160 per month ?? but nobody gives you a straight answer! Well by chance we have a new kitchen being fitted and whilst getting rid of the kitchen we found the original paperwork as it turns out we have paid around £12,000 for a car we now no longer use!!!!!!

I know we now have the right to terminate the agreement but what about all this excess money???

HELP!!!!!!

TastyTeeth

I'd be surprised if Welcome gave you a 7-year (or more) finance deal on a car! I know they have a reputation, but this is ridiculous!

You need to seek urgent advice from the CAB on this matter IMO.

J.

paulmcerlean

Was it a HP agreement or a personal loan? Did you ever top the loan up?

If not, then you definately would not still be paying for this. Call and ask for the balance?

If you have the paperwork - what is the interest rate and total amount payable.

shock222

angie1001 wrote: »

Hi there,

Im going to cut this really short but in May 2003 my husband and i bought a car from yes car credit. We were unable to get credit from them so got credit form Welcome finance! grrrr

The car itself was a fiat punto costing £3,900 including ridiculous charges that i wont go into. So you would think by now it would be paid? We did struggle with a couple of payments but that was a long time ago.

My husband has called several times to see where we stand and why we are still paying £160 per month ?? but nobody gives you a straight answer! Well by chance we have a new kitchen being fitted and whilst getting rid of the kitchen we found the original paperwork as it turns out we have paid around £12,000 for a car we now no longer use!!!!!!

I know we now have the right to terminate the agreement but what about all this excess money???

HELP!!!!!!

go to consumer action group forums. scroll down to the welcome section.
this is a dedicated section on welcome fianance you will get all the help there
you need.:D

angie1001

paulmcerlean wrote: »

Was it a HP agreement or a personal loan? Did you ever top the loan up?

If not, then you definately would not still be paying for this. Call and ask for the balance?

If you have the paperwork - what is the interest rate and total amount payable.

It was a Hp agreement and we did take a small loan out with welcome not long after. But the HP agreement and the loan are entirely seperate and to be honest we think they are trying to pull a fast one with the loan too!!!
My husband called a month or so ago to find out our balance and it was around 5,000!!! just for the HP im not sure about the loan. Its really difficult to get anything out of these people. I called a solicitor for advice but they charge an arm and a leg! what do i do? Should i cancel payments for the time being?

kurjam

shock222 wrote: »

go to consumer action group forums. scroll down to the welcome section.
this is a dedicated section on welcome fianance you will get all the help there
you need.:D

where is the consumer action group ????