Welcome finance - any reviews?

essentialoils2u

simple stay away i hate welcome loan sharks

si1306

stay away borrowed £10000 ended up paying nearly £23300 over three years:mad:

gibbojene

Had a loan from them, also had a job interview as them. Very unethical company. Wouldn't touch them again. Horrible peoplw horrible company. But that is my opinion

Thomas99

si1306 wrote: »

stay away borrowed £10000 ended up paying nearly £23300 over three years:mad:

WOW 64.4% unsecured & 21.9% secured :eek:

misterL_2

Hi all,

I got a loan for £1500, missed a couple of payments, have been paying back £109 for 3 years and still owe over £2000!!

Avoid them at all cost! they are nasty sharks who will rip you off.:mad:

Hailz86

avoid them xx

CHR15

Blimey! wasn't there a more recent post to resurrect??

k1mmie

The bad news from Cattles PLC keeps getting worse. In a statement today, the UK subprime lender announced the suspension of group finance director James Corr and chief operating officer Ian Cummine. Cummine is also chairman of Welcome Financial Services, the operating subsidiary whose managers were suspended only a week ago during a review of Cattles’ impairment provisions.
Cattles warned in December its full-year results would be delayed by a probe of its impairment provisions, and last week announced first findings suggest there has been a breakdown in internal controls which has resulted in the group's impairment policies having been applied incorrectly. However, it could not quantify the effect on Cattles’ financial statements.
Today, the company was more certain of the extent of the troubles, saying it now expects to incur a significant pretax loss for the financial year to December 31 2008, and it is likely Cattles will have to restate the results for 2007.
While the Audit Committee, the company’s legal advisers Freshfields Bruckhaus Deringer LLP and internal auditors Deloitte LLP continue to pore over the books, the company is today suspending its FD, the COO and Adrian Cummings, the compliance and risk director for Welcome Financial Services Lending Division.
Cattles chief executive David Postings last week took direct management control of Welcome Financial Services, as the subsidiary’s managing director John Blake, finance director Peter Miller and operations director Mick Belcher were suspended.
As if all this was not bad enough, Cattles also had to announce today that it believes to be in breach of covenants under its borrowing arrangements and will therefore be seeking appropriate waivers from its relevant debt providers.
Gary Edwards, group IT and business services director, has taken on operational responsibilities at Welcome Financial Services and Susan Puddephatt has assumed the role of risk and compliance director.
The shares took another mauling, trading down nearly 15 percent around 2.1 pence. Three months ago, the stock was at just under 40p and six months ago was changing hands at around 130p.

petermb_2

That would make sense bearing in mind the stuff that is being quoted on CAG. It appears that their days are numbered. The good news is that those with Welcome loans that have ppi included may well gain a huge victory.

There is talk of Serious Fraud Office involvement.

Mrs7ones

I'm a bit concerned re the final payment on my old loan with them...

10 days ago, I phoned for a balance, and offered to send a cheque for the £95. They insisted that they could not accept a cheque, but needed to be paid vie debit card.
I agreed to this and gave my card number etc. But as yet, they haven't taken the payment ......
what should I do?