Is Welcome Finance going bust?

k1mmie

I hope they don't, I for one have a claim with them so would like some hope of reclaiming my money!

madmackhunter

There is definatley something in the wind here something big.
Ive done a lot of phoning around at the oft and fsa.
A lot of advisers are declining to comment on welcome (when i ask is welcome going bust?)
One adviser told me off the record sky news were sniffing around this story.

phil80

I have a personal loan with welcome and the money has not been taken from my account for my monthly payments now for the last two months. Maybe there is a problem with welcome.

helnag

Hi, I also heard this and rang the FOS cos I was concerned about my PPI complaint and he said he couldn't comment but not to worry cos if they did the Financial services compensation scheme would then pay out in any upheld complaints. He said that this is what happened to a few Northern Rock customers.

madmackhunter

I had a call from my local office who are an absolute sham quote "warning me
not to pass on information"
apparantley they are reading a lot of internet forums full of complaints about them.
NOW I WONDER WHY.
The only info that i pass on this site is factual and is told to me by welcome thereselves and fsa,oft.
Sorry welcome if your reading this and not happy TOUGH.
I will have a day of celebration when they do close.
OH breaking news
Its 400 jobs going at hull welcome finance/cartills not 250 as they put in press realeases!!!:beer:

cybermum

There is an office(or was) until about six months ago,they have also closed .

Swans1912

partyisover wrote: »

Could be the whisper of goverment caps on interest rates charged lets hope,

Also Feel this 6 year credit file is tooooo long, you only get a criminal record for 5 years for gods sake,,,,,,,,,,,,, anyone for a petition:T

Why should I lose my good credit file record to benefit someone who hasn't been able to keep their finances in check.

It is a fair point, however if I was a lender I would want a very long credit history before I decide to lend or not. I think a shorter time would increase your chance of being refused.... what would you prefer as a lender 6 or 3 years?

continualdiamond

Will have to keep my eye on this, our car is on finance with them. Long story for why we went with them, but we've never missed a payment and they've continued to take payments.

If they do go bust, what will happen to our car??? Sounds silly, but would we loose it??

sjameson6969

Absoulute rip off this company is!
I still owe them money on a loan I defaulted on, can I still claim back ppi?

lou1251

I thought something was up. I have a loan with them and had been paying by debit card the past few months. Last month, they called a few days before payment was due and asked to set up a direct debit. So I gave the details, but nothing appeared on my bank account. Got a DD form to fill out, I did so and sent it back. But still, nothing has shown up on my account.

I'm getting worried as I know they charge every time they phone you and the interest will be piling up on these missed payments.

I wish I'd never taken out a loan with them. I took one out to pay off two credit cards. Now I realise I would have been quicker and cheaper if I'd made an arrangement with the cc company.