help with welcome finance

cammyj

Could somebody please help me, i got a loan out with welcome finance about 7 years ago, i have not paid anything to them for atleast 4 years. When i have recently checked my credit report the loan seems not to exist and i have recieved messages to try and claim ppi against them. I have recently since getting the ppi bits a letter about the loan, seemed strange. Just any info i how i should proceed regarding the ppi and the loan thats left.

DCFC79

cammyj wrote: »

Could somebody please help me, i got a loan out with welcome finance about 7 years ago, i have not paid anything to them for atleast 4 years. When i have recently checked my credit report the loan seems not to exist and i have recieved messages to try and claim ppi against them. I have recently since getting the ppi bits a letter about the loan, seemed strange. Just any info i how i should proceed regarding the ppi and the loan thats left.

cammy you should really start your own thread

redsaxon

Just to keep up to date,it was welcomeloans.co.uk that took my money,woke up to an empty bank account today
Ive just got back from the bank and they have transferred the money due to be taken into a different account for me so welcome wont get a penny even though there payments pending.
I need to go back in a few days when the company name shows on the system,although its made me overdrawn the very nice man at lloyds assures me the bank wont charge me.
So basically ive had to rearrange all my finances to a new account and block my debit card,but at least now i have my money back and the bank fraud team are on the case
The only advice i can give to others duped into this "fee" is to go straight to your bank as they will help you,and the best advice is NEVER USE WELCOMELOANSUK.COM...or any other of these pond life "broker" firms lesson learnt...the hard way!

Apples2

We're still struggling...I can't find WELCOMELOANS.CO.UK

Is it welcomeloansuk.com or www.welcomeloansuk.com

Either way, please be precise, insert a link to their homepage.

Sounds like your bank are being very good to you, this is not normal.
The argument is that you agreed to pay this fee, you agreed by clicking the proceed button. Not many banks will entertain a change of mind afterwards.

Be careful of offsetting. If you go overdrawn in one account, the bank can tranfer money from another account you hold with them. This is why we always advise opening a new account with an unrelated bank.

redsaxon

yes its welcomeloansuk.com and hes asked me to go back in 2-3 days as it wasnt showing who took the money on there system and i dont know if it counts, but he said he would move the money that went in today as it was a benefit payment

jason1231972

cammyj wrote: »

Could somebody please help me, i got a loan out with welcome finance about 7 years ago, i have not paid anything to them for atleast 4 years. When i have recently checked my credit report the loan seems not to exist and i have recieved messages to try and claim ppi against them. I have recently since getting the ppi bits a letter about the loan, seemed strange. Just any info i how i should proceed regarding the ppi and the loan thats left.

When you say you haven't paid them for 4 years, do you mean that you finished up the loan, or you defaulted on it? If you defaulted, don't try the PPI route! Not now, not ever.

If you didn't default, check all three credit reference agencies for evidence of your loan, if you haven't already.

redsaxon

Well todays update on this fiasco has no cheery ending,as helpful as the bank were yesterday they were unable to get the money back for me
They have said i will need to write to welcomeloansuk and ask for the refund which ive just done,the £69.95 went out today leaving me almost £100 overdrawn on a £50 overdraft so seems the bank also gets to make a few quid from this.
Cant believe they can legally rip people off in such a clear and obvious way,and to rip off people who turn to them under the impression they can help....how do these people sleep at night!
Oops almost forgot,im assuming it would be best to send the refund claim via recorded delivery so they cant dispute me sending it?

DCFC79

redsaxon wrote: »

Well todays update on this fiasco has no cheery ending,as helpful as the bank were yesterday they were unable to get the money back for me
They have said i will need to write to welcomeloansuk and ask for the refund which ive just done,the £69.95 went out today leaving me almost £100 overdrawn on a £50 overdraft so seems the bank also gets to make a few quid from this. Well yes of course since you went overdrawn.

Cant believe they can legally rip people off in such a clear and obvious way, Well you did give your card details away willy nilly. Was it not listed on the site that a fee would be charged.

and to rip off people who turn to them under the impression they can help....how do these people sleep at night! I bet they sleep quite well

Oops almost forgot,im assuming it would be best to send the refund claim via recorded delivery so they cant dispute me sending it?

Just a few things

redsaxon

Not quite willy nilly,they claimed they had a loan for me that had far better terms than what were currently paying to 3 other companys,everything looked above board and genuine and i honestly believed that i was applying for that consolidation loan direct from them.
It wasnt until i started receiving texts and emails from some very very high apr lenders that i realised something was wrong,it was then that i realised i hadnt applied to a lender and that the loan they said they had never existed.
I will happily accept the fee had i needed or wanted a broker,right up till the texts started and emails began i was under the impression i was waiting on a decision from welcomeloans...not a referral to some 98% APR fee charging companies

Apples2

redsaxon wrote: »

it was then that i realised i hadnt applied to a lender and that the loan they said they had never existed.
I will happily accept the fee had i needed or wanted a broker,right up till the texts started and emails began i was under the impression i was waiting on a decision from welcomeloans...not a referral to some 98% APR fee charging companies

Sounds like you have sussed them, but NEVER EVER pay an up front fee for a loan, they do not exist.

Follow this procedure they have stupilated, yes, always post recorded delivery. Remember if you request your refund within 14 days, you are entitled to a FULL refund, after 14 days, they can retain £5.
It won't be simple, get ready for a drawn out fight when they claim they never received any request for refund (which is why you MUST send it recorded).

Fees, Cancellation & Refund Policy
We charge a one off fee of £69.95 for providing you with the service of acting as your finance broker. We specify the fee as part of our communications with You. We do not charge any other fees or recurring fees. If You are not offered a loan or finance within the 3 months we act as your broker then under the consumer credit act 1974 you may request a refund of your brokerage fee. Refunds must be requested in writing to: Welcome Loans Customer Services, 151 West George Street, Glasgow, G2 2JJ. Under financial services (distance marketing) regulations 2004 You have a right to cancel your application within 14 days of receiving these terms and conditions. Cancellation requests should be sent to: Welcome Loans Customer Services, 151 West George Street, Glasgow, G2 2JJ.

I did think the bank were being overly kind to you earlier, this is more like it. Watch out for the offsetting I mentioned earlier.