Nightmare with Welcome Finance!!

smilygirl

Hi again

Just wanted to ask with relation to this, do I have to sign a legal standard security document other than CCA for them to be able to put charge on my title deeds? Reason I ask is that I have found a copy of such a form unsigned and unwitnessed? Sure it makes no difference but might support the shoddy practices.

Thanks again if you've trawled through my previous post! Don't know how to start this as a new thread so hoping someone checks in with advice.

Merci

[Deleted User]

Ask for the CCA. I don't know anything about consumer debt cases but I suspect an interest rate of 100% could to be found to be unconscionable by the courts. I'd ask for the interest you've paid them back and then pursue them through the small claims court when they refuse.

smilygirl

Hi [Deleted User]

Thanks for the reply, I have asked for the original CCA as part of the subject access request, which is giving them some grace as I'm not holding them to the 12 days...trying to be amicable, don't know why. I'm no accountant but I can't get any of the figures to work out, neither can they as they have given me varying numbers over the years, though they have never sent a statement of account, not even annually!

They actually sent me a letter saying they would waive all interest, yet that makes up the bulk of the settlement? I think they thrive on duping and confusing people and hoping we are too beaten down to fight back. They are exercising too much influence on how my life is lived at the moment and in recent years for me to sit back and take it any more. Even if I end up paying the full amount I want their practice exposed for others benefit.

Still had no response so far ( and they were asked to only respond in writing) but as is the way with these people I have had 5 missed calls from welcome car finance?! which is odd in itself as I did not take a car loan and I'm dealing directly with their compliance department.

I shall wait and see but I'm determined to make life equally uncomfortable for them. I also have a complaint on file after being verbally threatened by one of their office managers, be interesting to see if it's sent with the other data requested.

I did start this as a new thread after finally working out how, but advice in either is so appreciated and actually lessens the headache and sleepless nights.

Thanks

Smilygirl

confused!_13

Now. i dont work for these people and i have been a money expert forum user for over 2 years so im no troll either,

But i was in the unfortunate pickle about 7 years ago where i was about to be evicted and went to these people for a loan. i borrowed 4000 over 5 years, and yes i did pay heavily on the interest.

The loan assisted me in paying off mortagge arrears that my ex hadnt paid on the mortagge without me knowing - so i had bad credit as he has got us 6 months behind on mortgage payments.

I borrowed the money and much later down the line i got made redundant - i contacted welcome 1st off and told them the situation. my loan had about 14 months left to run at this stage. They were helpful, and avoided any charges and let me add 2 months onto the end - obviously with interest!

I am now in a position that if i need credit i can approach mainstream lenders and have a decent credit rating now. But, if it hadnt been for welcome i would have had no home. I can only speak from experience and they were fair with me!

As i say - i have no connecion with thsi company and wouldnt use them again as i can now access main stream lending. These type of companies lend to people who have not paid back monies owed previously - in my case it was by association but my credit file said i was behind on mortgage payments, so i dont think you cant really blame them for the heavy handed tactics of trying to get their money back!

smilygirl

Hi confused

Glad that you are financially sorted, perhaps you should get a job with them and maybe on balance revise your opinion as you seem to be in a minority when it comes to agreeing with their practice, though you admit you wouldn't use them again?

To clarify my position I did not have a bad credit rating and no defaults till I signed with this company, now it's trashed and oddly enough they can't produce any default notices? Only the threats. As I was never a borrower till I bought a home (now known as noose around my neck) I admit to being naive when signing any CCA with these super friendly sales sharks ( I liken them to the child catcher in their practices of enticing people) I would like very much to pay them what I borrowed...oops yes already done that, what I very much object to is the outrageous charges, the "capitalisation" which is interest, and then the interest on top of all that and lets not go to mis sold PPI. I stupidly offered to pay them decent interest to settle the loan, but they want three times what I have paid already to settle early and still can't quite consolidate with each variable compliance officer exactly how they make the calculation and by what consumer act they are abiding by. I object very strongly to them profiting from misery they have indeed inflicted.

As I have said I'm very glad that you believed they helped you and yes they help people in poor credit circumstances, but what of the many that had healthy credit ratings but were conned by a salesperson, are we just to wither under the veil of stupidity and have our lives forever blighted because companies such as these and their practices ARE NOT PROPERLY MONITORED?! Point in case when I raised the issue of an obviously forged witness signature on my CCA by a named manager in one of their offices I was told, in writing, that it was an ongoing training issue!! Are they training them to forge better signatures or not to be so deceitful and naughty? Point number 2 when I was paying a minimum monthly amount they offered to reduce my balance substantially, when I am selling my house they want to treble my balance immediately? HHMMM Methinks they want an unfair profit. Answers on a postcard please and roll on the someone closing these idiots down.

THE_LONE_RANGER_4

WHEN I WAS IN DEBT WELCOME GAVE ME A LOAN AND A LOAN FOR A CAR WHICH WAS A PILE OF CRAP AS IT HAPPENED , they bled me dry met me at my bank and took every penny i had UNTIL i saw the light and dealt with my debts welcome were the only debt i never came to a settlement with all the others agreed, wrote some off, and some reduced.
i never paid welcome another penny , the car was scrapped they had the option to collect but didnt want it ,i had paid over a certain amount however , the loan they put charges on, the car loan they put charges on , i ignored them 6 years went by the debt became statued barred i recieve the odd letter now even though my credit file is healthy i just bin it they have sold the debt 5 times , my solicitor said cant be enforced so dont waste your time telling them unless they turn up on the door stepp then tell them to sling there hook.

get_me_out

YES they are playing games with you.

I had same thing with them and it took 2 months to get letter giving only 10 days to get payment to them.

Dig your heels in.

I would add that I got mine down by 500 as they had charged phone calls I could prove were NEVER made. Had phone cut off silly them......

mickymotox

well, im somwhat comforted by knowing its not just me with these "people".

I took out a loan for a car for £10,795 in july 05 over 48months, paying £382 a month, now im off sick and have ammounted arrears of £1,375, they have told me they will take my car off me as i refused to re write a new loan to include the arrears, no way am i gonna do that one!!

Went to CAB and they spoke to them as my balance is £6000,00 i have paid a 3rd of it now and legally they cannot take the care without a court order, even CAB said that welcome will prob come and take the car even though they leagally cannot and then ask questions later?

iv been told its been passed to asset recovery when i asked what did that mean i was told , dunno i dont work for that dept? great eh?

So im waiting to see if my cars in the drive in the morning, i paid them £100 on friday and can pay £400 end of Oct? anyone any ideas of how i can keep hold of this car, ive only got till july next year and im rid of welcome for good!!!
oh when iv finished payinf i will have payed nearly £19,000 for this car!

Princess_Jenna

:mad: I took a welcome loan of £1,000 in May 07, rqstd a statement as I called them and they said still had £1,200 outstanding - I could work this out as ok I missed 3 payments but still should be lower, on my statement they've charged me £10.00 x 28 so £280 worth of extra fees all because my old account manager used to call me and confirm when payment would be coming out 3 times a month and charge me £10 for each call.........he's now left and the branch manager who needs some training in customer relations is refusing to look into my charges cos as far as she is concerned they stand.....Also it's taken 4 days for her to speak to me I tried twice Tuesday, Wednesday & Thursday then yesterday I thought I'd ask if I would be charged for her to call me back and the answer is yes so I said not to bother I ended up having to call every 5 minutes this morning till I could speak to her to try sort it out and she won't' help!!!! :mad:

What can I do to get the charges removed??

BigBro_1980

Hi,

I really need some help... This is more for my father than I.

In 2003 my dad took out a loan with Welcome Finance (am unsure if he had a loan previous to this). The amount according to the paperwork that I have seen is £17,317.03 (which seems like an odd amount and I suspect it is a loan on top of a loan... I digress).

I have been chasing my dad for a number of months about this loan and what for a settlement figure. Also I wanted a full statment of the payments he had made (he always dealt in cash and as you can imagine... he isn't very good with money).

The current balance is £21,078.03!! Up by approx £4k!!

Having looked through the 'statement', there are a number of things I don't understand...

There are a number of "Capitalisations" - which I am assuming are additions to the loan.

There are payments, which are then reversed and then a fee added on top (£20)?

There are multiple fee assessments (from £2 to £25) and none of these make sense to me.

I believe the loan was for a car... which my dad couldn't fill, so he changed it to a different loan (£17k). The concern I have now is that I have had a look at the charges sheet on our house title deeds... and in September 2006, a Unilateral Notice was added to our charges for a legal charge in 2003.

I have no clue what to do... I don't know where to start... I suppose there will be an end to this somewhere, I just don't know where.

Does anyone have anything that I can at least start with...

Thanks (and apologies for the scatter gun approach).