welcome finance

Apples2

blue_eyes wrote: »

you may wish to look at:
and specifically says:
"The agreement with the FSCS does not affect your repayments on any existing loan. You should continue to pay your account in line with your agreement."

Only a small handful of Welcome customers made any repayments at all anyway, that's why they went bust in the first place.

bluesbro28

Welcome are the most unhelpful company i have ever had the privelage of dealing with!!!!! Good ridance!!!!!! Them scumbags have been akward to deal with since day one and i have ended up needing trading standards helping me out when i was giving my car back to them!!!!
I struggled with a loan and they told me my only option was to stretch it out over 10yrs, wouldn`t talk with my Debt management company and are now charging a ridiculous amount of interest on my arrears!!!!!

Apples2

^^ See what I mean??

Welcome were great when they were accepting people for loans when no other lender on the Planet would go near them.
They were the only ones prepared to give people a second chance, a ray of hope and an opportunity to get that dream item.
In bluesbro28 example above, he simply couldn't ever get a cheap runaround, it HAD to be an expensive car he had simply no chance affording.

All the applicants vehemently stating the repayments are affordable, everything has been considered.

No crazy rip off Broker Fees, no daft membership fees, just apply for that "oh so desperately needed loan" and live in financial harmony for ever after.

Welcome's problem was ignoring Credit History's and past trends of applicants. The entire client base was one which no sensible lender would ever go near.

Now that same client base are all angry at Welcome for not bending over backwards when they cannot repay the very money which Welcome foolishly lent to them.

bluesbro28

Apples2 wrote: »

^^ See what I mean??

Welcome were great when they were accepting people for loans when no other lender on the Planet would go near them.
They were the only ones prepared to give people a second chance, a ray of hope and an opportunity to get that dream item.
In bluesbro28 example above, he simply couldn't ever get a cheap runaround, it HAD to be an expensive car he had simply no chance affording.

With all due respect, you know F**K all about me, I could afford the damn car for well over two years of the 4 yr repayment plan, the problem came when i wanted to give it back after i had paid back over 50% of the car, which is my legal right btw!!!!

Also with regards to fee`s, if you think that a letter (which they like to write at least once a week) should incur a £10.00 fee a phone call (twice a week) should incur a £10 fee then the whol Bull s**t argument about rip off fees is in the toilet!!!!

Welcome would not offer any help whatsoever and were interested in ONLY getting the maximum amount of cash they could out of me, FACT people sometime struggle with money, FACT companies don`t CARE about debt since they can just SELL IT. So the more debt they put you in the more CASH they get!!!!!

Also I have other loans with other more reputable companies and they were a hell of a lot easier to deal with,.

Welcome on the other hand were like a bunch of vultures!!!!!! When a client goes to them telling them they are struggling to keep up the repayments they advise them the only option is to take out a new loan + more interest for 10yrs, thus increasing the total money owed to them by double!!!!! They know you got no other option but they dont care, as long as they get the maximum payment from you!!!! This is wrong and immoral.

Yet i suppose your perfect with money matters and don`t understand what im on about do you!!!!! BLAME is a easy thing to do but if you took the time to look into why things happen you may see why the country is in such a state!!!!!

Debt is now a saleable asset and companys are running people into hugh ammounts of it just to sell it , regardless of whether people can pay things or not!!! Catch people when they are young, and then sink the fangs in for the rest of there lives!!!

Apples2

bluesbro28 wrote: »

With all due respect, you know F**K all about me, I could afford the damn car for well over two years of the 4 yr repayment plan, the problem came when i wanted to give it back after i had paid back over 50% of the car, which is my legal right btw!!!!

It WAS your legal right when you were complying with the contract YOU agreed to. Sadly the day you stopped repaying YOU broke that contract so the conditions within it were no longer an option, because YOU decided you had better things to do with THEIR money than give it to them.

Little piece of advice I'm sure you don't want. If you enter into a contract, make sure you can afford it for the ENTIRE agreement period. It is NOTHING to boast about being able to afford about half (as if it is a good thing!).

bluesbro28 wrote: »

Also with regards to fee`s, if you think that a letter (which they like to write at least once a week) should incur a £10.00 fee a phone call (twice a week) should incur a £10 fee then the whol Bull s**t argument about rip off fees is in the toilet!!!!

I completely agree it is a rip off. Which is why I would never have agreed to those terms to start with. Any reason you decided to continue with the application knowing what would happen if you couldn't make the repayments?

bluesbro28 wrote: »

Welcome would not offer any help whatsoever and were interested in ONLY getting the maximum amount of cash they could out of me, FACT people sometime struggle with money, FACT companies don`t CARE about debt since they can just SELL IT. So the more debt they put you in the more CASH they get!!!!!

That's business bro! Nobody owes you a good life, we are all here to make as much money as we can.
When was the last time you told your employer to reduce your wages or not bother paying your expenses this Month?? didn't think so.
They are neither your keeper nor friends - It's business.

bluesbro28 wrote: »

Also I have other loans with other more reputable companies and they were a hell of a lot easier to deal with,.

Does that suggest you make a habit out of not repaying your debts in accordance with the contract terms?
Some companies care more for their reputation than others. They think if they maintain a good reputation, they will attract more business and make more money (sound familiar?).

bluesbro28 wrote: »

Welcome on the other hand were like a bunch of vultures!!!!!! When a client goes to them telling them they are struggling to keep up the repayments they advise them the only option is to take out a new loan + more interest for 10yrs, thus increasing the total money owed to them by double!!!!! They know you got no other option but they dont care, as long as they get the maximum payment from you!!!! This is wrong and immoral.

So they offered you a way out which you didn't like the terms of?

bluesbro28 wrote: »

Yet i suppose your perfect with money matters and don`t understand what im on about do you!!!!! BLAME is a easy thing to do but if you took the time to look into why things happen you may see why the country is in such a state!!!!!

Agree, people are too desperate for that new car and don't want to save up for it, too many NEED IT NOW with no consideration for the downstream consequences. In a nutshell, you are the cause of this Countries problems.

bluesbro28 wrote: »

Debt is now a saleable asset and companys are running people into hugh ammounts of it just to sell it , regardless of whether people can pay things or not!!! Catch people when they are young, and then sink the fangs in for the rest of there lives!!!

Agree, learn the lesson quickly and early. Educate those around you to never bury themselves in debt, not for cars, not for holidays, not for weddings.

We'll all be happy and the brokers/bottom feeders will disappear.:T

dreavi

Apples2 speaks the truth, welcome dont owe you anything, you signed up to their ridiculous T&Cs then complain when they wont restructure your debt to your liking. Why would they? they want to make money and reducing the amount you owe only cuts into their profits.

Plus the fact that you wish to restructure your debts is the exact reason they charge you so much in the first place because your a high risk. I wont miss welcome (never used them) but both them and their customers are part of the same bizarre system

KingElvis

Welcome attracted some pretty scummy people in all honesty and that's why they've gone bye bye.

Swim with the sharks, expect to be bitten.

bluesbro28

You know what, i accept most of what you have just said apple, I may hasten to add that the car was paid up to date when i wanted to return it, as i knew I wouldn`t be able to keep up with it in the future.

My issude is that companies like welcome, provident, vanquis activly pursue people who have got nohing and then wave money at them. It` like drug dealing to the poor and needy, how in the hell are people allowed to run up 10 , 20, 30k unsecured debts!!!!!! It`s the industrys fault just as much as the people who take the loans.

I can`t argue with the above points, I fell victim at a young age and felt my only option was to borrow my way out of trouble, which I see has been a dissaster but the industry was not helpfull in the slightest. People KILL themselves because of debt problems, it can happen to anyone, only takes a illness, jobloss ect and then your trapped in a horrible web of debt which there is little chance of escape. This is what I have a problem with. I activly sought proffesional help with my debts and certain companies just will not play ball, welcome included. This is why I am angry with them

bluesbro28

KingElvis wrote: »

Welcome attracted some pretty scummy people in all honesty and that's why they've gone bye bye.

Swim with the sharks, expect to be bitten.

Thanks for the Judgement, peoples perceptions are already made on us debt strugglers I see

KingElvis

bluesbro28 wrote: »

Thanks for the Judgement, peoples perceptions are already made on us debt strugglers I see

My comments are not a judgement, merely a fact.

Even Welcome themselves are in default now so it must show you something about their customers and business model?