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welcom finance, should I?
Comments
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TBH, if you hadn't said you meant a £1000 not £100, then prehaps it could be genuine as that would mean over £1000 in interest a year.
No way would this sort of company be able to set up a £1000 loan, where the interest is under £200 over the year period.
That's by the by anyway as these sort of people, basically either take the upfront fee then find you
A/ nothing
or
B/ A loan such as a payday loan over 1 month or a loan where you need a guarantor and the interest is 50% plus.
They also then pass your details around all sorts of scamming low life companies.0 -
Thanks for the help guys. I had looked throught the threads but they were all really old and no one mentioned this upfront fee which is what had me going. The only thing that made me pause was the low apr. since contacted my bank to arrange an overdraft as don't need £1000 anyway. Don't want to default as I don't want black marks against my name.
Thanks again0 -
Sorry Sam, companies like these are last resort and I wouldn't give card details over for love nor money
Beg family or sell stuff (mobile phone, clothes, jewellery) before the door step collector or balliff comes, sorry to be hard but that is what can happen if you do not get in control again quickly - you would be better trying to get repayment plans in place even it that means your credit if not already is trashed0 -
Welcome Finance went bust last year over PPI claims. They were a nasty company as far as I can gather, but were legit. They did charge upfront fees, but the money did materialise (my mum had a loan with them...shudder).
So I don't think the company you're dealing with IS even Welcome Finance. The real Welcome Finance website warns of an imitation company called Welcome Loans UK - is it them??
Anyway, it's a scam. No loan will materialise, as you're now well aware...======================================
Target: £1,000 cash gift for OH's 40th in Feb 2013
Progress: £86 / £1,000
======================================0 -
Agree. Welcome Finance went bust last year and are out of the loan business.
What you are being offered is a scam. Repeat ... a scam. :eek:"There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0
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