Welcome Finance

dougie212

Hi there..

A while ago there was mention that people had had issues with the "cowboys" known as welcome loans and had had the remainder of their loans written off due to information missing from their initial loan aggrement.

I am currently paying a loan which I took out in 2006 with Welcome and although I have found out they are no longer dealing and are simply collecting I have recieved no notices,no literature nothing. They seem to have just disappeared without a word.

With this in mind, does this affect my loan and what details have people found were missing in order to get their loans written off... every little helps...:)

Dougie

CHR15

No, it's fanciful ideas. You still owe the money, they just aren't giving out more money to people who try to find ways not to repay it.

Welcome are only cowboys when they expect their money back, they are/were lifesavers when they accepted you for a loan.

dramaqueen1973

Hi

I too was a victim of these cowboys - thankfully no more! Pay them off and leave them as a distant painful memory, we all learn and all had to go to them with our begging bowls, but I would rather beg or steal next time!

Drama

xxxx

Jeff_Bridges_hair

dramaqueen1973 wrote: »

Hi

I too was a victim of these cowboys - thankfully no more! Pay them off and leave them as a distant painful memory, we all learn and all had to go to them with our begging bowls, but I would rather beg or steal next time!

Drama

xxxx

As Chris has said - cowboys now but you loved it when they leant you money because no one else would because your a high risk person who is useless with money.

abby1234519

I defaulted on a loan but contacted them 3 months ago to ask for a statement and I'd start paying back, simply never reply!!! Tis midly weird to say the least

mcs1977

Hi guys, I just thought I'd share my story with you as you all seem to diss Welcome. I took out a loan with them in Sept 2008, £2000 over 3 years at £106pm (without PPI), and rang them to ask how much was left to pay last week expecting there to be at least 8 months payments. Imagine my surprise when told there was only £250odd, 2.5 months payments :j. I've had a chequered credit history and was glad when Welcome accepted me for the loan and am grateful that they have helped me rebuild some of my credit file.

So although Welcome can be a pain when you default with them they are also helpful and a joy to have as a creditor when you continue to pay them back their money as laid out in the CCA :T

Martyn

asmitaharitaa

My son got himself ready for funding welcome - it borrowed £ 3300.00 over 48 months, 14 months have elapsed. This loan will cost him £ 11,000 +. I wrote to ask for a settlement figure 2 weeks ago but heard nothing back yet. I wonder if anyone else is in the same situation. The agreement says that if you paid a quarter of the loan, you can very well expect to pay just over £ 5000th I thought he could refinance it for less and pay. Any thoughts welcome.:beer:

KingElvis

abby1234519 wrote: »

I defaulted on a loan but contacted them 3 months ago to ask for a statement and I'd start paying back, simply never reply!!! Tis midly weird to say the least

Don't worry, they'll be back

mcs1977

KingElvis wrote: »

Don't worry, they'll be back

They gotta give it time to rack up even more interest :rotfl:

My advice would be to write again, posting recorded delivery. You could always post it then ring them to advise you've written. The longer you leave it the bigger the debt will become.

Martyn