Welcome finance secured loans

[Ruby]

Re: Welcome finance secured loans

If the standard security is in the original company's name and the account has been sold to a DCA, with a notice of assignment, is the loan still secured? My train of throught is that the DCA's name is not on the standard security. Unless they have changed it without our knowledge and signatures.

[dogtired]

Re: Welcome finance secured loans

Good point Ruby, that warrants further investigation I think.
Incasso LLP was the one we had letters from but I know from other threads MKRR among others have got involved.
Did my checked again among the SDAr (old address) is one form saying "Secured Personal Loan" no mention of Land Registry.
I have now scanned the one they claim is from the Land Registry (again former address) I have left the dates on it but removed personal details

land reg 1.jpg

land reg 2.jpg

land reg 3.jpg

[Ruby]

Re: Welcome finance secured loans

Hmm DT, on my Standard Security form both mine and hubby's name and signatures are on it. I have to add the one I am looking at is not for WF in this case but another supposed charge we have on our property. Please Read my latest input on the VIP site regarding Arrow. I have just ordered at a cost of £18 my land registry form. Can't wait to receive it - will make rather interesting reading!!

As soon I get it I will post up and tell you if WF/Cattles are on it. Don't remember signing any standard security doc with them. Incidentally I thought Bovis were a construction company who also were/are the owners of P & O.

Lily, once again sorry for sabotage however hope this is helping us all in one way or other :tinysmile_grin_t:

[dogtired]

Re: Welcome finance secured loans

I knew Cattles had changed names but cannot remember what too knew it was "cattle" related.!
The dates on the documents are from 2001, the documents from Welcome 2002 will scan them in tomorrow if you like?

[Ruby]

Re: Welcome finance secured loans

Yes, scan if you like, however my GUT feeling in your case (and my gut is usually right) is that you have got away with it and I am not surprised CAB have said it is unenforceable. I am going to see CAB tomorrow myself, not for WF on this occasion but for the other secured loan I have. At the moment I am so stressed with it all but trying to hold my nerve and fight for what I believe is right. Why is it so difficult to find legal help. FOS are pretty much useless, FSA,OFT don't look at individual cases and let these scum bags get away with murder and when I called a local legal centre they said that my post code was not in their jurisdiction!!! No wonder I have a headache I have been banging my head on brick walls.

Sorry I am now ranting, been a bad day.

Thank God for LB at least I feel I can off load here my frustration on like minded people .......

[IanM]

Re: Welcome finance secured loans

They are most definitely not allowed to amend a mortgage deed under any circumstances with or without your permission, they have to send you a new mortgage deed to sign meaning they would also have to change the loan agreement to show the new lender etc. so it could be registered with the LR. You should have received a notification letter from the LR showing that a 2nd charge has been registered against your property and must be discharged upon sale of the property before the new owner can register the title in their name.

If the standard security is in the original company's name and the account has been sold to a DCA, with a notice of assignment, is the loan still secured? My train of throught is that the DCA's name is not on the standard security. Unless they have changed it without our knowledge and signatures.

[Ruby]

Re: Welcome finance secured loans

Thank you Ian, in other words my secured loan is now unsecured? Will be interesting to find out what the LR form says when it arrives. I have never had any communication from the Land Registry - EVER - even when we re-mortgaged. Could the communication have gone to our solicitor's instead?

[IanM]

Re: Welcome finance secured loans

It should have been sent to you directly from the LR, if it was sent to your solicitor then they should have sent you a copy as well.

If there is not a 'legal charge' registered with the LR when you sell the property the loan company will not have any claim to any of the sale funds and your solicitor will pay any registered charges(1st mortgage etc.) and the rest will go to you. The loan becomes unsecured as the property it was allegedly secured on is now in the name of the buyer who has no contract to the loan company so their purchase is safe.

If they do not have a signed deed for the loan then it is unsecured.

Thank you Ian, in other words my secured loan is now unsecured? Will be interesting to find out what the LR form says when it arrives. I have never had any communication from the Land Registry - EVER - even when we re-mortgaged. Could the communication have gone to our solicitor's instead?

[dogtired]

Re: Welcome finance secured loans

Once again apologies to OC Lilly for hi-jacking this thread but I hope we will all learn something.
Got more to upload and would welcome comments.
Nothing from Land registry apart from the one confirming currant lender and this house had not been registered before so if Welcome/Progressive?Cattle's were on this they should have been on the list is this right?
I posted the one we had in the SDAR bundle earlier in the thread but this is our previous property.
The first Welcome is the following year,
Also an extract from part of the "contacts/inputs" page which state some one did not "charge" this property
And last part of the letter we received note interest rates!


welcome1.jpg
welcome2.jpg
welcome3.jpg

[LillyB]

Re: Welcome finance secured loans

uuurrgghhhhh ! welcome have just been on the phone as i was unable to pay my full payment of £195 at the end of september, they said they want the payment in full today. I have advised that I do not have the funds spare to pay them and also mentioned that I have never been in arrears with them and actually been overpaying them for the past 6 months, they have said this is not a flexible loan and they want paying now and i have 3 hours to go and find the money ! I offered them a payment of £25 and they would not listen just kept saying that I signed a loan agreement which means is has to be paid, I said its only 5 days late , and they went on and on. they then said they want me to email them my full bank statment for the month to prove that I have not had the funds to pay them, I refused as this was personal information and they continued to go on demanding the money like they were desperate ! I ended up putting the phone down.

they also advised me they were callimng from Inverness as my branch closed down last week. they asked me to email my bank statment to a cattles email address ??

I also said that I would not be bullied and they said they are not bullying me and I am in the wrong for not paying, the guys tone was arrogant throughout the conversation ?

Help ! anyone have any advice on what i should say when they call again ??

[dogtired]

Re: Welcome finance secured loans

Can you bar the number?
I must admit for a time I did succumbed to the bullying try not to let them and if they ring again just tell them everything in writing and put the phone down or ignore it all together if you have caller display.xx

[dogtired]

Re: Welcome finance secured loans

Oh and put it in dispute if you have not done so already. You could do that as part of an SDAR! template letters on site Send a postal order and make sure you state that whats for xx

[LillyB]

Re: Welcome finance secured loans

Thank DT whre do I find a dispute letter template on the site ? thanks

[Ruby]

Re: Welcome finance secured loans

Yes I echo Dogtired's sentiments do not let them bully you. They can bark all they like but at the end of the day they are pretty much toothless these days.

I have just been to see my local CAB today and feel relieved! Thought I was going mad with worry. Going to see their solicitor on Monday but am confident, as we all should, that if our gut feeling tells us we have been wronged then probably we have. Its just about facing the battle with these muppets to prove it. I am so grateful I have found such help and support from my friends on LB.

Thanks again x

[LillyB]

Re: Welcome finance secured loans

Yes I echo Dogtired's sentiments do not let them bully you. They can bark all they like but at the end of the day they are pretty much toothless these days.

I have just been to see my local CAB today and feel relieved! Thought I was going mad with worry. Going to see their solicitor on Monday but am confident, as we all should, that if our gut feeling tells us we have been wronged then probably we have. Its just about facing the battle with these muppets to prove it. I am so grateful I have found such help and support from my friends on LB.

Thanks again x

Hi Ruby me too I wish I had come on this forum sooner. please let us know how you get on with the solicitor on Monday xx