Welcome Finance/Cabot

[mummy3boys]

Hi,
I am emailing as confused

Took a Welcome Finance loan in 2004 for just £1k, I was made redundant and notified their PPI company. I have heard nothing from Welcome since the PPI kicked in and assumed this debt was repaid/settled.

However in the last few weeks I have received letters from Cabot saying they have purchased the outstanding balance from Welcome and they have defaulted the loan,
I have rung them and they have advised Welcome was receiving payments of £40pm up until April 2009 when the payments stopped. I have asked if that's the case and no payments have been received since 2009 how come the default has only just been registered... They do not know this.
We have obtained a copy of the credit file which shows the default was registered in March 2013 and the debt was taken over by another cias lender in Aug 2013, however the balance is satisfied.!!

What is your opinion in this, do you think it is a wrong default and should be removed etc?
Many thanks

[labman]

Re: Welcome Finance/Cabot

To clarify then, is it your belief the balance was settled in full back in 2009, and despite owing no money, you have been defaulted this year?

Is that right, or am I muddled (easily done!)? :beagle:

[mummy3boys]

Re: Welcome Finance/Cabot

Yes that's right, I haven't heard from Welcome since 2009 and only started receiving letters from Cabot in Aug this year.

Thanks

[labman]

Re: Welcome Finance/Cabot

If you have proof the account is paid, the simplest thing is to send a copy to Cabot and tell them they have clearly got the wrong person and ask them to remove the default. They should do this routinely, but DCA's can be unpredictable.

[mummy3boys]

Re: Welcome Finance/Cabot

Thank you, sadly we don't have the proof as we believe it to be settled with the ppi. However I will speak to Cabot tomorrow an see if I can get more information armed with the credit file.

[dogtired]

Re: Welcome Finance/Cabot

Please try not to speak to Cabot, they will LIE, they will try any thing to snare you in.
As you know Welcome are no longer trading as such.
Do you have your origanal paper work for this ?
You could try writing to Cabot requesting a copy of the origanal documents, they will no dobt return the £1.00 fee, they seem to do this quite a lot. You could also try writing to Welcome with the same request.
I let them snare me in and know how hard it is not to panic. Try not too, you have found a good place with LB, they have helped me a lot xx