Welcome Finance (or Not So Welcome)

shellylovesshopping

My partner has a "rip" off loan with Welcome Finance with an APR of nearly 40%. He took this out 4 years ago before we met. Having a look at his paperwork he should never off been sold the loan as basically he didn't have the income to support it. He got into financial problems after taking it out as he didn't have enough money to pay for the loan as well as his day to day living expenses. He's just had a statement from them showing transactions since the loan was taken out. It shows fees for late payments when payments were actually paid! Another time he asked for a new DD mandate when he changed his bank - as a member of staff lived nearby he offered to drop it in on his way home - and DP was charged £25! Surely they can't get away with it? He's also got the PPI on the loan - I doubt they would even pay out on it as he was mis-sold the loan originally. Where do we go to start getting some money back! In the last 3 years he's never missed a payment and his credit rating should be fine but we've looked at taking out a loan to reduce APR but as he's already had to pay PPI upfront already and therefore we'll be paying for it again if he takes out further protection if that makes sense!:mad:

petermb_2

I need more information but there is a good chance of getting these people off your back.