Welcome finance

AUTUMN5

hello again
in reply


2007


18 months ago reduced amount accepted and been paying it.


no contact was made to negotiate an increased payment.


I have had admissions from welcome that they just have simply let me down and not replied to me and especially my f&f offer.


I have recorded delivery proof that they have received all my letters.


they have known about my ill health for years.


they didn't even tell me they are selling the loan.....


also is a secured loan the same as a mortgage? anyone?


welcome didn't have anything against my credit file - now I have a DEFAULT against me from cabot. welcome did not have anything on my credit file.....? can cabot do this?


surely a mortgage cant be marked as a default?


I have had other mortgage arrears and they show as the 4,5,6, months etc and AP for arrangement to pay etc. never put as a DEFAULT.


so I think cabot are being sneaky here...?


I assume I have to get this corrected by writing to credit ref agency and ICO if they don't play fair?


always grateful for input.
cheers

Poppops

Hi

I'm bumping this so that someone else may help you out, because I can't see that they've done anything out of order really.

They did tell you they had sold you on to Cabot. You mention it in one of your posts.

By making an offer you are kind of admitting your account is out of order and so it's not a surprise they've sold it on.

I know it isn't what you want to hear, and might be totally wrong, but you have to see that whilst you feel they have let you down, and they may well have, you haven't kept up your agreement and they are trying to recoup what they can.

With regards to your ill health, I'm not sure what you want them to do about it?

Not much help, sorry

Gaz83

Unusual for any lender to accept a F&F on a secured loan, when they can just stay put and wait for the equity in the property.

jellie

Selling your debt isn't personal. Welcome are in default and collecting out their loan book. I imagine eventually all loans will probably be sold, yours happens to have been bought by Cabot now, rather than later.

Saying that not responding to your letters is abuse is a bit peculiar. You asked for interest free with reduced payments. They agreed.

It's a loan secured on your property, not a mortgage.

If you're not happy with the way they've dealt with you, write to them. If they don't reply within 8 weeks, go to the Ombudsman. But it sounds like they've already told you they're not responsible for the loan anymore.