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Hi everyone, this is the first time I have used a forum so I hope Im doing this right !
We have 2 secured loans with Welconme finance both taken out in 2006 and 2008, the reson we have two is we own 2 properties.
The largest one was for £29,000 in 2006 which as July this year with no missed payments whatsoever at had a balance of £30,800 ??? we had a couple of late payments which we called in advance and adviced would be a couple of days late as we are both self employed and waiting for income to reach us. Unfortunately the property on which it was secured was issued with a possession ordfer from the first mortgage lender as we were paying welcome over them due to their constant agressive and threating calls, which now as obviously the wrong thing to do. we dealt with a branch manager at welcome and offered a reducerd full and final settlement, this was never replied to instead our account was defaulted. We then received a call from nottingham to say they would offer us the chance to repay the loan with no interest and charges but we had to over pay on out original payment to reduce the balance down. i asked about the full and final settlement and they said they had not seen that and would not accept it anyway ??
They are asking for £310 per month which we really cant afford and where is all the money gone that we have paid since 2006 ???
Our second loan is secured on our home for £18k , this was £16k when we took it out in 2008 and again no arrears on this one , and we have actually been overpaying this one since march by £50 per month as we were told it would bring the balance down quicker and reduce the term of the loan. I called them this week to advise the payment would be a couple of days late as i was waiting for commission to be paid to me and they said it was not acceptable as I was 1 month in arrears?? i questioned this as the account has not been in arrears and i have been over paying and they said that my payment date was 15th and I have been paying on the 30th for the past 2 years , (as I arranged with them and they know) so therefore every month my account goes into arrears for 15 days, but they said they let it go as I always pay ! so am I being charged for this too ??
Please help if welcome are bust are these loans actually enforceable on my properties ???
We have 2 secured loans with Welconme finance both taken out in 2006 and 2008, the reson we have two is we own 2 properties.
The largest one was for £29,000 in 2006 which as July this year with no missed payments whatsoever at had a balance of £30,800 ??? we had a couple of late payments which we called in advance and adviced would be a couple of days late as we are both self employed and waiting for income to reach us. Unfortunately the property on which it was secured was issued with a possession ordfer from the first mortgage lender as we were paying welcome over them due to their constant agressive and threating calls, which now as obviously the wrong thing to do. we dealt with a branch manager at welcome and offered a reducerd full and final settlement, this was never replied to instead our account was defaulted. We then received a call from nottingham to say they would offer us the chance to repay the loan with no interest and charges but we had to over pay on out original payment to reduce the balance down. i asked about the full and final settlement and they said they had not seen that and would not accept it anyway ??
They are asking for £310 per month which we really cant afford and where is all the money gone that we have paid since 2006 ???
Our second loan is secured on our home for £18k , this was £16k when we took it out in 2008 and again no arrears on this one , and we have actually been overpaying this one since march by £50 per month as we were told it would bring the balance down quicker and reduce the term of the loan. I called them this week to advise the payment would be a couple of days late as i was waiting for commission to be paid to me and they said it was not acceptable as I was 1 month in arrears?? i questioned this as the account has not been in arrears and i have been over paying and they said that my payment date was 15th and I have been paying on the 30th for the past 2 years , (as I arranged with them and they know) so therefore every month my account goes into arrears for 15 days, but they said they let it go as I always pay ! so am I being charged for this too ??
Please help if welcome are bust are these loans actually enforceable on my properties ???
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