Welcome Finance House Call?

lulaloo

I just had a call from my house mate who is taking out a loan with welcome finance (yes I have told her that she shouldnt, extremely high APRs etc but she will not budge) and she said that she's been on the phone to someone at welcome today who said he would come round to our house tonight to get her last payslip and take a reference from her passport - it seems very strange to me that someone would come out to her house.
has anyone heard/experienced this? I am obviously going home to be there so she isnt in by herself but it sounds a bit iffy?

smashedbooboo

If she is insistent on taking out a loan with them make sure she does not take out any payment protection plans with them. They charge horrendous amounts for it. And if they say she cannot have the loan if she refuses it then please let us know. And make sure they do not charge her a call out fee for coming out to house. She is mad mad mad for even thinking about a loan with them but its her choice. All my advice can do is make it a little easier on the pocket. Any chance you could stay online while the person from welcome is there. Will try and help if at all possible.

AMILLIONDOLLARS

Apparently if he gets her to sign up for the loan there and then, she will have waived her cooling off period and will be tied. That's because it's deemed that she has invited him to come to her, she wasn't cold called.

why is she so desparate? you should get her to look at some of the horror stories listed here about Welcome..

AMD

smashedbooboo

Babes, maybe there are things you dont know about your house mate. My guess is she is having financial problems. Welcome are a sub prime lender. Meaning she cant get a loan from the banks. Do you know if she is having any problems. I am not sure about the cooling off period though. I thought if the agreement was signed off premises, in other words away from welcome offices she would have the 7 day cooling off period. Is anyone out there who could clarify this please. My ex used to sell very very expensive vacuum cleaners and he went to peoples houses and they had a seven day cooling period. And a few people did cancel.

smashedbooboo

Did he tell her she would waive her cooling off period.

setmefree

deleted xxxxxxx

smashedbooboo

Thank you setmefree. We can only hope that this poster takes note and helps her friend. I have had a loan and a car from welcome. So not good. They lose payments. And charge for house calls if they come and collect money. Am hoping the poster will stay online while the guy from welcome is in the house. She can ask questions then if she wishes.

CLAPTON

try to persuade her not to actually sign anything this evening but to get a copy of the full T&Cs including the loan amount, APR, monthly payments, number of payments, whether fixed or variable APR , details of early settlement (full costs & fees etc).

even better get her to go over to the debt free wanabee board and try to sort out her debt problems.

Homegirl83

I have a car through Welcome and the interest that I have to pay back is so high it's unreal.... at the time of buying the car I was stupid and so excited I didn't even read the small print (APR) I just coulnt wait to get it..... I have had them trying to offer me loans but I just ignore the call and throw the letters away.... my advice is to STAY AWAY, if money is really bad then I would advise professional adivce from the CAB