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Welcome Finance - ARGH!
Hey Guys!
We've recently aplied for a secured loan of £5,000 with Welcome Financial Services.
We've dealt with the company a year or so ago and back then everything was fine. We cleared our old loan off and never had any problems. This time, we've gone for a new loan and immediately problems have begun to arise.
To start with, all of the correspondance we were sent was not only in my wifes maiden name (the name she had on our old joint loan) but was sent to a different house on our street. Now luckily we know the neighbour and recieved our post, but seeing as it was a financial company, she thought we were commiting fraud by using her address to gain finance!!
It took three days of numerous calls (resulting in a 2 and half hour phone call just to change basic DPA details) to both their general customer services number and the paticular office we deal with to get it sorted.... Or so we thought. Today we recieved our latest letter from our account manager no less but it was addressed to our suspicious neighbour again!
Now, we had an appointment booked for 3.00pm to go in and sign for our loan and hand over various ID that they wanted to copy. My wife phoned up to double check what we need to take in at 1.30pm on the day of the appointment to be told that there was no appointment! So i called up and played up that my wife had taken an afternoon from work to accomodate THEM and get this loan sorted. They relented and asked us to come in asap. After rallying a babysitter and a lift from a friend (the office is 13 miles from where we live) we went into the office to sign for our loan on the wednesday 2nd of April.
We were told not only by our current accounts manager, Aimee, but also by our former one (on the same day) that we would recieve the loan as a BACS transferred amount into my account the following thursday 10th April.
Well, thursday comes and that didn't happen and so we called up the office only to be told by Aimee that the loan was only to be processed on the 10th and that we'd recieve it within three working days.
So we waited... and waited and by Tuesday 15th there was still no payment. We called the main customer services number and were told that if we had a loan payment coming that'd it'd be in the form of a cheque. Confused as to the mix-up we called up the actual branch to query how and when we'd have our money be told that [and i quote] "It'll come when it comes".
Anyway, today marks a full week since we were told that we'd have our money and over a fortnight since we signed the loan agreement for it. I called the customer services line to be told that we should be recieving a cheque today and to wait for the days post to arrive. Well, the post arrived but no cheque. We recieved a letter from Aimee today saying that the funds will be transferred in the next five working days, making it a fortnight since we were promised the loan and over three weeks after we actually signed for it.
I'm still very concerned however because they have still failed to get our basic address details correct despite numerous emails, calls and letters. Also the fact that the companies main customer services line absolutely insists that they only send out loans in the form of cheques and don't do BACS transfers. A DD is supposed to come out of my account next week for the first payment and yet we still have no actual loan!
Such a frustrating and confusing experience :mad:
We've recently aplied for a secured loan of £5,000 with Welcome Financial Services.
We've dealt with the company a year or so ago and back then everything was fine. We cleared our old loan off and never had any problems. This time, we've gone for a new loan and immediately problems have begun to arise.
To start with, all of the correspondance we were sent was not only in my wifes maiden name (the name she had on our old joint loan) but was sent to a different house on our street. Now luckily we know the neighbour and recieved our post, but seeing as it was a financial company, she thought we were commiting fraud by using her address to gain finance!!
It took three days of numerous calls (resulting in a 2 and half hour phone call just to change basic DPA details) to both their general customer services number and the paticular office we deal with to get it sorted.... Or so we thought. Today we recieved our latest letter from our account manager no less but it was addressed to our suspicious neighbour again!
Now, we had an appointment booked for 3.00pm to go in and sign for our loan and hand over various ID that they wanted to copy. My wife phoned up to double check what we need to take in at 1.30pm on the day of the appointment to be told that there was no appointment! So i called up and played up that my wife had taken an afternoon from work to accomodate THEM and get this loan sorted. They relented and asked us to come in asap. After rallying a babysitter and a lift from a friend (the office is 13 miles from where we live) we went into the office to sign for our loan on the wednesday 2nd of April.
We were told not only by our current accounts manager, Aimee, but also by our former one (on the same day) that we would recieve the loan as a BACS transferred amount into my account the following thursday 10th April.
Well, thursday comes and that didn't happen and so we called up the office only to be told by Aimee that the loan was only to be processed on the 10th and that we'd recieve it within three working days.
So we waited... and waited and by Tuesday 15th there was still no payment. We called the main customer services number and were told that if we had a loan payment coming that'd it'd be in the form of a cheque. Confused as to the mix-up we called up the actual branch to query how and when we'd have our money be told that [and i quote] "It'll come when it comes".
Anyway, today marks a full week since we were told that we'd have our money and over a fortnight since we signed the loan agreement for it. I called the customer services line to be told that we should be recieving a cheque today and to wait for the days post to arrive. Well, the post arrived but no cheque. We recieved a letter from Aimee today saying that the funds will be transferred in the next five working days, making it a fortnight since we were promised the loan and over three weeks after we actually signed for it.
I'm still very concerned however because they have still failed to get our basic address details correct despite numerous emails, calls and letters. Also the fact that the companies main customer services line absolutely insists that they only send out loans in the form of cheques and don't do BACS transfers. A DD is supposed to come out of my account next week for the first payment and yet we still have no actual loan!
Such a frustrating and confusing experience :mad:
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Comments
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there are all sorts of rumours about welcome in trouble at the moment on many forums like this. including consumeractiongroup and many others
its very difficult to tell if it is chinese whispers set up by competition ror whether it is true. people are reportng that car dealers are saying to customers welcome finance no longer accepting new finances and people with loans sayin payments not taken. Very odd!0 -
I just phoned welcome to ask if this was true as I was hoping to lower my monthy payments and they said it was rumours and that they are still accepting new loan and car finances.
So I guess in you case they are just being incompentant!0 -
As a precaution cancel the DD due next week. As you havent recieved the loan you shouldnt be making the first months payment.:j I have a persecution complex. Everytime I pass a shoe shop they persecute me till I buy them:j0
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a friend in the know has advised me that Welcome have closed the doors on new loans. I have not had confirmation of this but please be careful if you have dds in place and no money.I am a former Broker, former IFA and former compliance officer, for my sins.
However, I have since seen the light.0 -
Its very odd mentioning bout Welcome Finanace being in trouble. Both myself and my OH have car finance via them- recently we have both had problems with D.D.'s being taken. I am also aware of a few local branches being closed down since xmas. Wonder if the rumours are true?0
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I'm wondering this as well. I have an ongoing PPI clai with them and they have accepted they mis-sold but just will not pay up. Ive seen alot of rumours they are in trouble but presumes it was just talk and they were being twits but now i am wondering.MF aim 10th December 2020 :j:eek:MFW 2012 no86 OP 0/2000
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Does anyone have any more news about them?0
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Funnily enough, my sister has a loan with them (against better judgement). Perfect payment history with them, no adverse credit and was turned down for a top up of £1000 ... Probably a good thing in the long run ..:happylove Tori Bellatrix :happylove
.·:*¨¨*:·..·:*¨¨*:·..·:*¨¨*:·.0 -
If Welcome are going belly-up, then good riddance.I used to think that good grammar is important, but now I know that good wine is importanter.0
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Recently topped up this loan after my little old chug-a-bug finally packing up and am having exactly the same problem as earlier in the year! It's like banging my head against a brick wall!0
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