Welcome Finance

Red1979

I have a loan with welcome secured on my house, ive missed a few payments recently but am in a position to start paying again, since they are in such financial diffuiculty will they accept a lower payment until i get on my feet again financially? And what happens if my loan is sold on, will the payments go up or down?

DVardysShadow

Red1979 wrote: »

I have a loan with welcome secured on my house, ive missed a few payments recently but am in a position to start paying again, since they are in such financial diffuiculty will they accept a lower payment until i get on my feet again financially? And what happens if my loan is sold on, will the payments go up or down?

I think that their financial difficulties will mean that they will try even harder to squeeze money out of you. It is only if you are offering F&Fs that you may find you can cut a deal.

Insomniac666

Is it worth my in-law contacting them for a F&F value, even if she has no intention of paying, just to see what they're upto?

shopaholic2639

I have had a car through Welcome Car Finance for about 3 years also. For the past 3 months I have been paying a reduced payment to them for financial reasons. All has been going fine up until yesterday my account manager calls to tell me they have cancelled the reduced payment plan & the direct debit for this as they can no longer continue to offer it. Am I able to pay the full ammount again? My answer, simply no not until atleast Aug which is when I know I will have extra funds availible to me. Anyway long & short of it is they told me that I have paid more than enough towards the car which stops them from automatically taking the car away from me, great as I would loose my job if I didnt have my car.
However they said in approx 3 months time I can expect a collections agent to contact me to start making payments again. I found this totally bizzare & told them I wasnt happy with this & coudlnt understand why I couldnt just simply continue the agreement with them direct, I was then told well there is no other solution & the call was ended.
Reading this thread has now made me realise why.

littleangels3

MY OH has hp with welcome we couldnt afford payments last year so they changed his agreement so we could reduce payments & they added about 3grand interest on so were now left paying them for about 10 years, there constantly on the phone, i was paying by card each month he then came to my house last month to find out when we were making next payment and wanted to set up dd, i wanted to pay from joint account but because the account number wasnt on the card i had to use other details which i was annoyed about, he rang me last week coz id cancelled the dd and was demanding to know what day i got paid as i said it was changing, could it all stop?