Is Welcome Finance going bust?

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  • madmackhunter
    madmackhunter Posts: 104 Forumite
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    Well hiowathas comments just about sum it up then.
    Why have news outlets not wanted this i may ask though?
  • Sol00
    Sol00 Posts: 1,230 Forumite
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    If the ICO or FSA aren't doing their jobs, then you should contact your MP to make them aware of it.

    I'm going to take on Welcome myself, but I'll follow all the set procedures so that it can't come back on me.
  • JV_Perth
    JV_Perth Posts: 11 Forumite
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    Has anyone heard anything more whats happening with them ?

    There share price has dropped again to 5p, so its not looking good there end.


    If anyone gets any information can they update this link

    Thanks all in advance

    James:A :D
  • madmackhunter
    madmackhunter Posts: 104 Forumite
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    Sounds like hiowatha has all the news james.
    but looks like hes not adding anymore.

    ive had a letter confirming payment holiday lol
    no appology,still negotiating a figure through my brief loss of earnings ect.
  • Sol00
    Sol00 Posts: 1,230 Forumite
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    The directors have been suspended pending the outcome of Deloitte's financial review, or whatever it is they're doing. The Chief exec of Cattles has taken over the role in Welcome for the moment, which has made the share price drop to below 3p again. :)
  • madmackhunter
    madmackhunter Posts: 104 Forumite
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    Couldnt have happened to a nicer bunch sol!!:j
  • paulmitchell_2
    paulmitchell_2 Posts: 14 Forumite
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    My partner has a secured loan with welcome, what will happen with that if they were to go bust?
  • helnag
    helnag Posts: 439 Forumite
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    paulmitchell wrote: »
    My partner has a secured loan with welcome, what will happen with that if they were to go bust?

    I'm guessing all debts would be sold on to another company?? Maybe someone else knows for sure.
    PAD total since 27/07/09 = £60.83 - [strike]Capital One[/strike]:[strike] £192.73[/strike]£27.00 Next catalogue: [strike]£429.00[/strike] £154.00
    Welcome car HP: [strike]£6090[/strike], £3900, Welcome Loan:[strike]£3370[/strike], £2660HLC #1: [strike]£907.00[/strike]£637.00, HLC #2:[strike] £838.00[/strike]£608.00
    Sealed Pot Challenge 2009 - Member #649 - Target £500...banked £119.50 already.
  • madmackhunter
    madmackhunter Posts: 104 Forumite
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    very interesting link here!!

    http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/4933669/Cattles-falls-40pc-as-key-executives-suspended.html
  • madmackhunter
    madmackhunter Posts: 104 Forumite
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    :FURTHER UPDATE:
    yesterday i had a phone call from "asset management"
    saying they are repossing my car!!

    Even though i have in writing from welcome as part of my compensation plan im to have a payment holiday of 6 months!!

    The same guy called my mobile 22 times in 3 hours,taking what i said and explained to him with complete ignorance the compensation plan agreed between my solicitors and welcome.

    looks like im going to have to get a court order now.:rotfl: :confused:
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