Nightmare with Welcome Finance!!

lynseyhare

hi, ive had problems with Welcome Finance too, been paying car for 3 years, have 2 years left. was looking to part exchange it for a bigger one, but was told by welcome that my finance agreement had been cancelled a year before and is now a loan agreement ( cant opt out and hand car back!) i was never told bout this, and am stuck in this agreement till i pay it off - plus they keep charging me every month - even though i pay extra each month to try pay it off quicker!!
they suggested voluntary submission, but have since read wot it actually is!

any suggestions on wot the best idea is, would be greatly appreciated!
thanks x

bgc_2

I too have had the dubious pleasure of dealing with welcome finance. My secured loan is ahead of its repayment schedule as admitted by them.
having experienced fiancial difficulties this month I asked if I could miss a scheduled payment seeing i was ahead
It was a straight no and when I said i would have to go without heating and food to pay it the operative said that was better than missing a payment to them !!!!!!
When I asked about the governemnt requests to financial institutions that they should be compassionate when people were in difficulties he said welcome did not listen to government
HEY HO welcome rule the bullying world

sarahjg

Hope someone can advise, I purchaced a car on HP with welcome finance payments £330 monthly for 4 years after 2 years i hit some financial trouble and went to my local office to request they removed the PPI and Gap insurance off the policy to reduce my payments as i had been advised i did not have to have these by a third party. They advised me i would have to re-finance for this to be done and then my payments would be reduced to £150 monthly
The insurance and PPI were removed and my payments went down, but its only when i was in a better place in life i started going through all my finances and checking what i owed and when my debts would be clear i realised what they had done.....they added an additional £5000 to my Loan!! i will be paying this for a further 6 years in total my car has cost me almost £22000, CAN THEY DO THIS????:mad: I have also reclaimed on the insurance & PPI i have not yet received a reply!

CHR15

They can do whatever they like, it is up to you to agree with their proposal.

KingElvis

Hope it's a posh car then?

Lotus? Aston?

Peelerfart

Hey - go easy on the girl, she can't even afford a new thread!

shamblesman

Had Welcome call twice yesterday. I owe £1800 on a Car Loan and pay £48.81 a month. They informed me that the Poole in Dorset Branch had closed and the Bristol office was now "looking after" my account. They said I needed to pay more than the £48.81 as the account was in arrears.
I told them that I couldn't pay any more than the agreed amount. They then said that if that was the case, there was a strong possibility that they would have to pass the debt on to an external company to deal with....to which I said " that is fine..do that then!" They then said "erm...why can't you pay any more?" So I said " what is your name, date of birth and how much do YOU get paid weekly please, and monthly..I also need your bank details and if you could give me YOUR income and expenditure details......then we may have a deal?" Obviously they were not happy with this!
To sum up: Welcome Finance have gone bust in Poole. The company as a whole are in serious debt. They are in trouble. Ignore their threats and phone calls...play the long game..offer them something and make sure it is in writing..and tough it out.

They are a useless company...run by idiots and bullies..I wish i had never used them as a source of finance..and bitterly regret it.

I know exactly how to deal with them..don't get worried by their BS as they are ambulance chasers with poor quality agents..like Cougar Finance and many others......clowns.

shamblesman

Hi...check out my post below..don't worry..Welcome are Goons..if you need any help, let me know

KingElvis

shamblesman wrote: »

Hi...check out my post below..don't worry..Welcome are Goons..if you need any help, let me know

Not a company you'd recommend to your friends and family then? :rotfl:

sugababy

I borrowed 10,000 from Halifax, repaid it in December 2008, I wouldn't get the loan unless I agree to take out PPI. I was wondering if I am able to reclaim the PPI back.

I also have an aggreed over draft with my bank, last year they wrote to me to tell me that they were adding £30 per month overdraft fee to my statement is this correct or can I have this stopped and reclaim what I have paid. I also have a Master Card which I am paying PPI; can I reclaim that too?

Any advice is most welcome.