welcome finance

gonnabedebtfree

i thought welcome finance had gone bust but i might be wrong, anyway i checked my credit file yesterday and i know i had a loan off them a few years ago when i was younger and didnt pay, stupid times, anyway whats happens now? does it stay on my file for 6 years? then what happens if its still not paid as i havnt heard off anyone about it?

alo how long does a judgement stay on for and does that just come off?

my credit score is really really bad and i know i have no chance of rebuilding it with these on it

sithmaster

gonnabedebtfree wrote: »

i thought welcome finance had gone bust but i might be wrong, anyway i checked my credit file yesterday and i know i had a loan off them a few years ago when i was younger and didnt pay, stupid times, anyway whats happens now? does it stay on my file for 6 years? then what happens if its still not paid as i havnt heard off anyone about it?

alo how long does a judgement stay on for and does that just come off?

my credit score is really really bad and i know i have no chance of rebuilding it with these on it

sadley i have deling with them aswell (stupid mistake about 4 years ago) If you have not heard off the company for 6 years then the debt becomes statute barred (they cant claim) but you need 6 years of no contact at all.

I would like to put faward a question. I have just been searching the web about welcome finance and there is a lot of talk that welcome finance had gone bust. I currently owe just under 7k to them and have a ccj on my file from them, they accepted an offer of £20 per month a few years ago and have been paying that since. If i stick to that plan it will take me 29 years to pay off, is this forcable if they have indeed gone bust or could i convince them to write it off as i rent my home got no savings and no car to pay off the debt

AGB863

Welcome Finance - stopped making loans as there was "bad book keeping" and they did not declare the actual financial situation in the company.

They are still collecting the monies that are owed.

BBC information about it http://www.bbc.co.uk/news/business-17536678

Even if the company did "go bust" the debts would have been purchased by another company and would still requiring to be paid.

With respect to the debt being "old" for it to be uncollectable - there has to be a period of 6 years of no payments or no written acknowledgement by yourself that the debt is yours. The debt is then statute barred.

The company can write to you but that does not constitute that the debt is "yours"

Gordon_Hose

What do your credit files say?

gonnabedebtfree

i havnt heard anything from them in at least nearly 4 years, id forgot about it until i got my report yesterday

Stereo

I had a debt with Welcome Finance from years ago, it was sold to a company called The Lewis Group about 2 years ago. Interestingly, when I called to offer a reduced settlement on the debt, I was told that Welcome Finance aren't currently accepting reduced settlements.

Think I will give The Lewis Group a call back since I have this new information about them going bust...

chanz4

Name & Registered Office:
WELCOME FINANCIAL SERVICES LIMITED
KINGSTON HOUSE CENTRE 27 BUSINESS PARK
WOODHEAD ROAD
BIRSTALL, BATLEY
WEST YORKSHIRE
ENGLAND
WF17 9TD
Company No. 00133540

Status: Active
Date of Incorporation: 23/01/1914

Country of Origin: United Kingdom