Welcome Finance

[Mr and Mrs C]

Hi all, I am looking for information on Welcome Finance, and if anyone has managed to claim anything back from them for irresponsible lending?
thanks

[pt2537]

Hi all, I am looking for information on Welcome Finance, and if anyone has managed to claim anything back from them for irresponsible lending?
thanks

Hi there

Can you perhaps expand a little on what you are looking for? Irresponsible lending covers quite a broad area and it may be tricky to answer without further details.

Thanks

[Mr and Mrs C]

Hubby and I took out a loan in pure desperation about 10 years ago secured against the house, we have been paying it for 10 years and have another five to go, we aren't getting anywhere with clearing the debt really due to the high interest rate. Welcome sold the debt a few years ago. Query over the irresponsible lending and whether it was affordable to us, (which clearly it wasn't as we ended up getting payday loans to manage each month, and ended up in debt management) We did inform Welcome of this when they phoned one day to ask us to pay more each month and they would not reduce the interest on our loan.

[pt2537]

Hubby and I took out a loan in pure desperation about 10 years ago secured against the house, we have been paying it for 10 years and have another five to go, we aren't getting anywhere with clearing the debt really due to the high interest rate. Welcome sold the debt a few years ago. Query over the irresponsible lending and whether it was affordable to us, (which clearly it wasn't as we ended up getting payday loans to manage each month, and ended up in debt management) We did inform Welcome of this when they phoned one day to ask us to pay more each month and they would not reduce the interest on our loan.

Can i ask how much you actually borrowed? as there may be other issues which could be looked at too but it would be helpful to know how much you took out first.

Oh and just for clarity, do you know the month and year you took out the loan?

[Mr and Mrs C]

Can i ask how much you actually borrowed? as there may be other issues which could be looked at too but it would be helpful to know how much you took out first.

Oh and just for clarity, do you know the month and year you took out the loan?

We borrowed £15,000 in December 2009. the loan was sold to Prime Credit in 2015 - currently balance £11k! We haven't missed a payment either but the interest added back on each month is getting us no where. Having looked at the figures again now with an older clearer mind the loan took us to 97% of loan to value of the house, no mortgage lender would have lent on that. As I said before though, pure desperation and being older and wiser now we wouldn't have made the same choices.

[DJMJ1975]

I’m battling with these myself. Prime credit have taken me to court for possession and lost. Still a lot going on at present. Good luck

https://legalbeagles.info/forums/for...t-alpha-credit

https://legalbeagles.info/forums/for...enalty-charges