Welcome Finance liquidation

[mejohnboy]

Just received a letter from Welcome Finance that they are planning to enter into liquidation on the 16th of Dec 2019

[efpom]

And your legal question is?

[mejohnboy]

Have an issue with them as they have sold a secured loan to Coast,
They are now going to repurchase the debt and apply the ppi claim to the account ( which is a different account from the ppi claim )
If they repurchase the account what will happen when they go into liquidation with the secured loan account

[efpom]

Read the company's annual report - It can be viewed and downloaded from companies house. This is a liquidation that has been openly planned since 2011.

[dogtired]

Just received a letter from Welcome Finance that they are planning to enter into liquidation on the 16th of Dec 2019

We had the same letter along with an invitation to a meeting of creditors. Already know it's unlikely us poor abused customers are unlikely to get anything as if the statement of account is correct they have no assessts

[Coyote]

Just come home and had this letter, it says it won’t be collecting any more money off me, does anyone know what happens to the charge on my house because I had a secured loan?

[dogtired]

Just come home and had this letter, it says it won’t be collecting any more money off me, does anyone know what happens to the charge on my house because I had a secured loan?

The same letter from the liquidators, says the same but they changed the alleged loan to a mortgage and used the name ' Prestige Finance" seems the wove a really tangled web, a matter of wait and see, they would have to " prove' Some how we were liable I think.

[Amethyst]

In their latest statement of affairs they have entered the book debt as something like £54million with expected returns of £0 on it.

With the secured charge you should be able to write to the liquidators and ask them to remove the charge from your property now they have confirmed they will not be enforcing the charge or collecting on any remaining balance of the loan.

Prior to the Joint Liquidators' appointment, outstanding loan balances due to Welcome Finance were frozen with effect from 31 October 2019 and no further interest and charges will accrue.

We will not be collecting (or taking steps to pursue) any outstanding loan balances due to Welcome Finance as at the date of liquidation (16 December 2019) and no payments should be made against loan balances.
*

The Joint Liquidators are in the process of contacting customers identified as having a potential redress claim against Welcome Finance, providing further information on how to submit a claim in the liquidation.

*

Customers who have already made a redress claim against Welcome Finance will also being contacted as part of this process.

If you wish to make a claim against the Company, you must submit your claim using a proof of debt form (available to download at the link below) by the claim submission deadline, being 31 March 2020.

Contact info*

E-mail: wfsl@kpmg.co.uk

Just like when you send us a letter through the post, we can receive e-mails - so long as it’s secure.

What information do we need to identify you?

To make sure there are no delays processing your query, please supply a minimum of three of the list below when you contact us:

- Full name (if you have changed your name since you had your loan with us, make sure to include proof of this)

- Your date of birth

- Your most recent address, and a list of any previous addresses that we may hold (this could be up to 20 years of address history)

- Any of your account numbers or customer numbers (if your request is specific, make sure you let us know which loan you would like information on - you can always call us if you’re not sure).

DogTired, I don't know where Prestige Finance fit in, does your letter say exactly the same as the Welcome Finance letter but referring to mortgage and Prestige finance instead of Loan and Welcome Finance ? I can't see anything on the KMPG site or Companies House ( I'm probably just being thick somewhere on this )

[dogtired]

In their latest statement of affairs they have entered the book debt as something like £54million with expected returns of £0 on it.

With the secured charge you should be able to write to the liquidators and ask them to remove the charge from your property now they have confirmed they will not be enforcing the charge or collecting on any remaining balance of the loan.



Contact info




DogTired, I don't know where Prestige Finance fit in, does your letter say exactly the same as the Welcome Finance letter but referring to mortgage and Prestige finance instead of Loan and Welcome Finance ? I can't see anything on the KMPG site or Companies House ( I'm probably just being thick somewhere on this )

Our letter says the same and does not mention Prestige. It was a few years ago we had the letter from Welscum changing from a secured loan to Mortgage and name to Prestige. (Still got it somewhere)! You have to bear in mind that at this time they had not proved the alleged account existed and tried with collection via**Mucky Hall and could not find any signed paper work. Think it's best to let sleeping dogs lie!

[Amethyst]

You're probably right there !

[MrSandman]

Hello, people! I have an unusual question. Considering you're talking about loans - can I have a legal right to take a loan when I'm out of my country? I mean, if I need money in Portugal real quick, can I take it from a local loan company, or citizenship is obligativitate in this case? I'm in the Portugal right now and have some financial problems. One of my friends here said that grupeer portugal can give me money real quick and without questions, but I'm not sure, if I can take money from local company.

[kissmer45]

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