Welcome Finance

PaulW922

Without wishing to jump to the defence of any loan company, Welcome's interest rates are high simply becuase they will accept most (though not all) applicants no matter what your credit history is like. It remains a competitive market and if you have defaults, outstanding debts and ccjs then the 60% apr quoted by WFS is not the highest interest rate you are ever likely to be offered!

Where I do agree with the posts above is over the outrageous fees charged for making a phone call etc. £25 is a disgrace. These fees are way out of order and I would guess are probably unlawful under the same regulations that are now enabling people to get bank charges back. So go for it!

pcstuart

I have finished paying for a Loan.

24 months at £119.17

I missed one payment in October 2004 but this was eventually repaid.

I have paid £237 over the contract amount yet they still say I owe £487.

I DONT THINK SO.

A SAR revealed they have charged me £255 in penalty charges.

I have written and told them I want my £237 back that I have overpaid.

I have told them I am willing to take them to court. Awaiting their response.

missc_3

pc stuart - having similar problems as you - in middle of my loan i had money troubles so i contacted them and paid reduced payments of £100 a month instead of £146 FOR 6 MONTHS which they agreed to - i then paid double payments to get back on track.

i finished my loan in Oct - i got a copy of my statment from them and i have paid back exactly £146.17 X 36 AND they are sayinig i owe them 483.00 as far as im concorned i borrowed 2,500 quid paid back well over the odds

they are threatening to "consider" taking me to court as ive not been in touch with them since nov 2006 i just dont respond to them. now surely if they were in legal right they would say they "are" taking me to court - had another letter this morning saying again "they may" have to start legal proceedings!!

i was thinking of contacting them offering £10 a month but then also including the letter which ive used to re claiming bank charges? if we can get them for charging £25 for a phone call they probably cant PROVE they made would make me sooooo happy, surly its same for them as banks!!