Welcome Finance/Coast

Thomohawk16

Hi,

Around 12/13 years ago my wife and I were looking to take out a non secure loan via welcome finance for £5000. However when we got the paperwork I noticed they had doubled the amount of years it was for and it showed a total amount due of over 12k although monthly was the same.

Back then they had a local office we went straight in and were told that they would sort the paperwork and it was an error by the salesmen, We took the loan and I paid the payments over the agreed period and that was that. Not heard a peep from them since and that was around 9/10 years ago.

Today I got a letter from Coast Finance saying I had a mortgage with them for over 12k the amount orignally on my loan paperwork! and it had never had a payment. not threatening any action, Just an Annual statement. After doing some research I found out this was a debt bought from welcome finance!!!!!
it says opening balance £0, payments due £0, debit £0, credit £0, Balance £12433.39!!!
£0 added for late missed payments, etc

I quickly checked the land registry and I only have 1 mortgage.charge against our home and nothing about any other debt charge.

My questions are this.
1/ If its not showing on the land registry does that mean 100% there is not a secured debt/charge against it? if there was it would be on there.

2/ best course of action to go back to coast finance with to put this to bed.

3/ Should I go to the police?

Thanks in advance

[Deleted User]

Go back to them with the information you've given here to clarify the situation.

DCFC79

Why involve the police, they will only tell you to resolve it.

chanz4

stat barred I would go back with

Thomohawk16

Thanks . My main worry is around the part where they recon this is a secured loan and this question. I want to be fully educated on this before i go at them.

1/ If its not showing on the land registry does that mean 100% there is not a secured debt/charge against it? if there was it would be on there?

Also what’s Stat barred?