Is Welcome Finance going bust?

madmackhunter

At work today lots of people know im on to welcome- ive told everyone about their innept practices and what ive heard is going on.

A young lady came up to me shocked and horrified that she applied to welcome for a loan on phone,they sent out forms she filled in with proof of earnings ect,which she sent to ruddington way, nottingham.

Today without even getting loan in her account yet, they have already taken out direct debit!!

ive told her to ring fsa and oft to report this.
im pretty sure they are trying to grab what money they can before they fold.

Glenn1884

Ive just started a claim for £5500.00 pounds in ppi and Interest on that ppi. Plus the hefty commission that welcome received for mis-selling the ppi. Hope they dont go under just yet i want to get the first reply from them before they go under or my claim may be null and void.

I intended to try and make welcome's life a nightmare and it looks like im going to be beaten to it. Hope they fold as they are a parasite that needs stopping in their tracks. Worst thing i did was go to them for a loan then another and another. NO MORE.....

Just want to get back what is rightfully mine. Has anyone tried ringing the Customer relationship center in Hull? It was open last week. I may ring today to see if they have received the first letter of complaint from me regarding claiming back ppi. And i will probe into the facts regarding their situation with closing down.

Will report more later today.

LJ1911

Hi - this is my first post but I have been following this story about welcome with interest for a while now.

I was on welcomes website just now and if you try to apply for a secured or personal loan it says that the site is undergoing maintenance and can not process loans at the minute. This may be true but with all the rumours and posts on this site it seems as though welcome may very well be on the verge of going bust.

Also last month my card payment failed to go through and they phoned my house once and left a message, I was out but when I got the message I intended to phone them later in the evening when I got the kids to bed. However, before I had the chance to phone them back someone from welcome arrived on my doorstep. Needless to say I was livid as I am not in arrears and they had absolutely no right to be there. I told the person on the doorstep I would not talk to her and closed the door in her face. Then I got on the phone to their branch and gave them some abuse. I was told that if payment fails to go through and they fail to get in touch with me then this was and I quote 'company policy'. I gave them hell about my rights and I was sure they were breaching guidelines . Anyway the point I am trying to make is they appeared to be desperate for the money, which seemed very strange to me at the time but now it kind of makes sense.

In the meantime we can only live in hope that they do go bust.

Lindseyf584

Just found this thread but I did post my own thread as Welcome are trying to transfer my loan to another company which seems odd, anyone know what would be the likely outcome if they did go bust?

I am quite happy to continue with my current payments but I don't really want the loan transferred onto new Ts & Cs and dealing with yet another company and new interest rates etc..

helnag

I was wondering the same, I called credit expert yesterday because my 2 welcome accounts had disappeared on my credit report. When they called back they said they had contacted Welcome and also Progressive Finance??? Who are Progressive Finance?? Are they part of Welcomes group?? I'm sure something is going on, but who knows.

Glenn1884

Phoned and probed the situation with welcome going bust.

All the lady would say is the web site will tell you all you need to know.

Funny that isnt it passing the buck to a genuine question?

spanky1982

Hi all,

A friend of mine has just been approved for a Welcome Finance Loan in order to consolidate some debts. If they were going bust, surely they would not be approving, or even advertising for new customers... would they?

madmackhunter

She may well have been accepted BUT has she got the money in account?
i know a few people now that have been accepted but NO MONEY 3-4 weeks later!!
The word is cathills welcomes backer on the verge,so no money to welcome or very limited.

madmackhunter

sorry my mistake, its CATTELLS that back welcome not cathills.

~Brock~

Cattles