Is Welcome Finance going bust?

helnag

rosemahairy wrote: »

Helnag, i am guessing you have still had no joy? me neither

No, not yet, they said it takes 2-3 weeks after receiving the spreadsheet to check all of the offers are within their guidelines, I presume they then get in touch. It's been 1 week today since they confirmed I am on the spreadsheet...will just keep counting and give it 4 weeks then contact them again if not heard anything.

Have you seen on the discussion thread there is a woman that has been waiting since end of 2007???

kurjam

my sister has a car finance with these crooks, due to end august next year.. her payment is due this saturday but she cant afforsd her payment and gas / electric and food etc....what can she do ???
she rang welcome a few months ago and they were not helpful said they would allow her to not pay but she would have to pay the following week, should she just ask her bank to stop the direct debit this week and then write to them.....
she does not want to give the car back she needs it for work etc and with only 15 months left she has nearly paid for it

rosemahairy

kurjam wrote: »

my sister has a car finance with these crooks, due to end august next year.. her payment is due this saturday but she cant afforsd her payment and gas / electric and food etc....what can she do ???
she rang welcome a few months ago and they were not helpful said they would allow her to not pay but she would have to pay the following week, should she just ask her bank to stop the direct debit this week and then write to them.....
she does not want to give the car back she needs it for work etc and with only 15 months left she has nearly paid for it

Thats appalling. You should cancel the direct debit and arrange a reduced payment with them (dont just cancel the dd and not tell them though you will get in trouble). The branch where the loan was taken out at is where you should go first, but if like me they were as much use as a chocolate fireguard try some other numbers. Welcome Finance customer services 08456187804. Or Try writing to this address Welcome Finance, Specialist Collections Unit, Apex House, Apex business Park, Ruddington Lane, Notiingham, NE11 7DD. or

Welcome Finance
Mere Way
Ruddington Fields Business Park
Ruddington
Nottingham NG11 6NZ

If your sister feels that she will struggle with payments long term like i did you should put an arrangement (debt management arrangement) in place where you make a reduced payment of what you can afford. http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=29_debt_management_plan This website is free and is fantastic giving lots of advice and template letters of how to go about getting help with reduced payments. Tell her not to run away from the problem but to face it and make arrangements that way she will avoid a lot of hassle.

Have you checked out the loan agreement itself to ensure it is all ligit ie you have no hidden suprises of PPI etc??

kurjam

she hates ringing them as she always feels presured into having to pay the correct amount.... there no ppi etc,
it will be to late for them to stop the dd i expect as they will already have applied for it at the bank !!
she only wants to reduce this months or miss this month out altogether, she will be ok again next month !!
thank you 4 ur help

Sol00

rosemahairy wrote: »

It sounds like they are lending again from what you are saying. Someone's bailed them out? If i were you, speaking from someone who had 5 loans with them 4 of which top ups; do not top up! Their interest rates are disgusting. If you are struggling for cash don't keep borrowing like i did, peter to pay paul. Try be debt free and try to pay back your debts. Aim to be debt free thats when you will have more cash. Its took me few years but im almost there now i have gone from approx 12creditors to only 2!!! Theres lots of help on here to get debt free watch out for welcome they are such a rip off

There's no change here really as they've always said they'll continue lending to existing customers, even though they've been slow about doing it.

I agree with you though, if you can cut back or get help elsewhere it's worth it in the long run.

Sol00

skintmumofone wrote: »

Hey all just thought I would give you a wee update….right oh yesterday I received a call on my mobile from WF a lady called Helen at 10 o clock asking if it was a convenient time to call I said no I was at work and to call back after 5 so no call last night. So today about 11am the phone rings again this time I answer it lady from WF again same one saying she wanted to talk to me about the charges on my account and when was a convenient time to call I said now….wanted it over and done with. So she goes through my security questions etc then says right what is your version of events? So I tell her about the charges and about the numerous phone calls and letters charging me and that my balance is more now that it was when I took out the loan. She said they are allowed to charge you interest on the arrears and that is what they have been doing and my payment did go up to £282 in September last year due to the % rate change how can they possibly change your payment when you sign a contract to say £262 for x amount of months she said they do mention they can change our payment rate which makes me think the loan was at a variable interest rate and not fixed – gr gr I feel a migrane coming on…..so she said she will look into the arrears and also the charges and if I can pay more…..which I said no cant afford to pay more…she said well it will eventually go down when Ipay all the arrears off 4 months worth which I worked out was about £1100 and with me paying an extra £38 a month re my extra payments it will take me 2 yrs at least to pay this off and by then my loan will have probably doubled lol!

I then mentioned the PPI and she said the Compliance Dept were dealing with this and if I wasn’t happy with their final response to pass it to the FSO which I have done she said well I will look into the charges and see if I can get some of these refunded to you. I said well I want them all refunded and I have passed this onto the FSO too. Honestly some people have no concept of being human…… but to be honest she was actually very nice. Gave me her details and said if I had any questions to call her – I said are you charging me for this call too – I never got an answer – well I had to ask!

So next step is to wait and see what the FOS say and then WF re my charges. Feel like I am not really getting far….but as they say Rome wasn’t built in a day was it?

Also got a letter from the FOS re my Bank of Scotland complaint who said although they have not supplied their final response they have written to them giving them a further 2 wks then I have to contact the FOS again. Oh the joys……am I going to get any PPI or charges back? Also noticed the BOS have refunded my charges at last woo hoo…….am so pleased……or am I? The jury is still out on that one too.

Be careful with calls from mobiles; they won't be recorded.

rosemahairy

kurjam wrote: »

she hates ringing them as she always feels presured into having to pay the correct amount.... there no ppi etc,
it will be to late for them to stop the dd i expect as they will already have applied for it at the bank !!
she only wants to reduce this months or miss this month out altogether, she will be ok again next month !!
thank you 4 ur help

Why dont you try faxing them? The fax number i used was 01159778895. I would definately call them to make sure they got it though. She doesnt have to discuss anything just call them to say you have sent a fax to 01159778895 and you want them to confirm it has been recieved and is being dealt with..... If they get pushy about payment amounts sate clearly "this will only be agreed in writing from now on please confirm receipt of the fax."

rosemahairy

kurjam wrote: »

she hates ringing them as she always feels presured into having to pay the correct amount.... there no ppi etc,
it will be to late for them to stop the dd i expect as they will already have applied for it at the bank !!
she only wants to reduce this months or miss this month out altogether, she will be ok again next month !!
thank you 4 ur help

By the way it won't be too late to cancel the direct debit. My partner works for a bank now (boo hiss lol) but he tells me direct debits can be stopped up until the day they go through. She should check her bank daily and when she sees the transaction hitting give your local branch a quick call and ask them to stop the dd going through because it is an error. Thats all you need to say. They should do it there and then for no charge over the phone or pop in if you can and tell them to not let it go through it is an error on their part. I have done this few times before like i say i hate dd often incurrs errors.

sammie22_2

welcome do my head recieved a statement today!!!! arrggghhh
i took alone out for £12000 and my balance is just over £15000. i have been paying £270 a month for the past 3 years and ive just seem to of not got any where!!
plus they was rebating £460 to my loan part of my ppi complaint but the thing is they added it to the loan which ment my balance was more then what it should off been, then took it back off so i was just in the same postion!
whats that all about?????

Sol00

Looking at your statement, what is the cause of the increase?