Secured Loan, Welcome Finance

[dogtired]

Re: Secured Loan, Welcome Finance

I agree very slippery customers.
Libor never mentioned with Welcome however this is very helpful with the on going complaint with Kensington I have, told you I dont do easy!

IMHO they are trying to pull the wool over everyone's eyes by making it look like the loans are secured on land/property.
This would make their 'asset' (the loan) much more valuable for resale (assignment)





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[Bazza]

Re: Secured Loan, Welcome Finance

[QUOTE=seduraed;640425]

Thanks Ruby and yes that's their customer contact address.

I have just noticed that the phone numbers have updated so looks as if though my local branch may have closed.

I did make them a cheeky offer myself in which they originally declined but then kept sending text's to call back to discuss further.

Maybe worth a try as I had approx £8,500 outstanding and made a full and final offer of £1,000. I am still awaiting a response in writing so will let you know.[/QUOTE

]
I think they might take £2000
I think they

Thanks Seduraed

I think I will chase them on my original offer again and see what they have to say.

I really want to keep everything in writing but as mentioned before I am still awaiting replies on original correspondences and seem very slow to respond as usual.

[charitynjw]

Re: Secured Loan, Welcome Finance

Sorry missed this earlier.
Solicitor according to final invoice.
She and us found Welcome frustrating to deal with they were supposed to send an agent to her office but they never turned up so in order to get things done she paid the £8000 out of the equity.

If the F&F was clearly offered & they accepted that offer, imho it should be legally binding (esp if via a solicitor)
http://www.dwf.law/news-events/legal...al-settlement/

[dogtired]

Re: Secured Loan, Welcome Finance

Thank you. I do know that Welcome were very slow in responding and she did not get written responses.
She paid them out of the equity checked all the letters and invoices and the payment is listed but no trace of anything from Welcome.
It will be twelve years in June and she was getting near retirement then so I dont know how I would go about asking for this evidrnce.
This house had been a holiday home and in order to get a morgage had to be registered with the Land Registry and our copy of this has no mention of any of the names Welcome go by.

If the F&F was clearly offered & they accepted that offer, imho it should be legally binding (esp if via a solicitor)
http://www.dwf.law/news-events/legal...al-settlement/

[Ruby]

Re: Secured Loan, Welcome Finance

So they are going into voluntary insolvency???

Bazza, I have always, bar once found FOS frustrating. I think the guys who work in FOS are over paid and oversized toddlers straight out of nursery school.

I got a letter on Saturday from Welcome informing me that my account was being transferred to their internal collections department. It made me laugh!

Still no response to my 'cheeky offer'.

DT, at least you have had reconfirmed that they do not hold a valid CCA agreement. :tinysmile_twink_t2:

[Bazza]

Re: Secured Loan, Welcome Finance

So they are going into voluntary insolvency???

Bazza, I have always, bar once found FOS frustrating. I think the guys who work in FOS are over paid and oversized toddlers straight out of nursery school.

I got a letter on Saturday from Welcome informing me that my account was being transferred to their internal collections department. It made me laugh!

Still no response to my 'cheeky offer'.

DT, at least you have had reconfirmed that they do not hold a valid CCA agreement. :tinysmile_twink_t2:

Hence my frustration with FOS Ruby, they have taken so long addressing my case correctly, rejected by final adjudicator, asked to be passed to an Ombudsman a year ago, now being told that awaiting allocation and that Welcome are going into liquidation :mad2::mad2:

So if Welcome are going into voluntary insolvency, can they still chase outstanding arrears including transferring CCA regulated secured agreements to a 2nd Mortgages ?

And I am still waiting for a reply to my original cheeky offer of £1,000 to settle.

Keep me posted on any developments thanks.

Cheers

Bazza

[Ruby]

Re: Secured Loan, Welcome Finance

My aim is to get their sticky paws off my land registry record. Going into liquidation, I would assume that accounts would be bought over by another firm - most likely a DCA for pennies and then the next set of fun and games would begin. It is highly unlikely in my humble opinion that any debt would just disappear.

Will keep you all posted with any updates and please do the same - power in numbers!

[Bazza]

Re: Secured Loan, Welcome Finance

My aim is to get their sticky paws off my land registry record. Going into liquidation, I would assume that accounts would be bought over by another firm - most likely a DCA for pennies and then the next set of fun and games would begin. It is highly unlikely in my humble opinion that any debt would just disappear.

Will keep you all posted with any updates and please do the same - power in numbers!

Well that is my priority at the moment and currently looking into the legality of their charge on my property.

Regarding the debt I realise that it will never disappear and like I said earlier and by you that it will no doubt be sold.

I am just a bit fed-up that I have a current Welcome PPI complaint with FOS in which is incurring interest by the day and would probably wipe out the majority of my arrears.

[dogtired]

Re: Secured Loan, Welcome Finance

Yep!
Posted my cheeky letter telling them I would take them to court yesterday!

So they are going into voluntary insolvency???

Bazza, I have always, bar once found FOS frustrating. I think the guys who work in FOS are over paid and oversized toddlers straight out of nursery school.

I got a letter on Saturday from Welcome informing me that my account was being transferred to their internal collections department. It made me laugh!

Still no response to my 'cheeky offer'.

DT, at least you have had reconfirmed that they do not hold a valid CCA agreement. :tinysmile_twink_t2:

[dogtired]

Re: Secured Loan, Welcome Finance

Power to the people. I know it will not " go away" but have kept everything I have in writing including my origanal copies of agreement they by the way don't seem to mention that bit about not being able to cancel.

My aim is to get their sticky paws off my land registry record. Going into liquidation, I would assume that accounts would be bought over by another firm - most likely a DCA for pennies and then the next set of fun and games would begin. It is highly unlikely in my humble opinion that any debt would just disappear.

Will keep you all posted with any updates and please do the same - power in numbers!

[charitynjw]

Re: Secured Loan, Welcome Finance

Thank you. I do know that Welcome were very slow in responding and she did not get written responses.
She paid them out of the equity checked all the letters and invoices and the payment is listed but no trace of anything from Welcome.
It will be twelve years in June and she was getting near retirement then so I dont know how I would go about asking for this evidrnce.
This house had been a holiday home and in order to get a morgage had to be registered with the Land Registry and our copy of this has no mention of any of the names Welcome go by.

Hi dt

This from a previous LB thread (so what can possibly go wrong? lol!)

http://legalbeagles.info/forums/show...ls-Settlements

It would appear that, if an F&F is offered & the cheque is cashed, any significant delay in responding on the creditor's part (ie to say it is only a part payment) is not acceptable.

Also this

The key area is in relation to the delay between receipt (and cashing) the cheque and communicating the fact that it was not accepted as full and final settlement. The cheque was received on 7 February 2012 but no communication was sent rejecting the payment as full and final settlement until 7 March 2012. In Stour Valley Builders v Stuart [2003] T.C.L.R. 8. the delay was less than a week.
In his judgment LJ Lloyd also refers to the decision in Upfield v Marshall where a delay of seven weeks was considered too long.
Further, the judgment in the Stour Valley Builders v Stuart [2003] T.C.L.R. 8. considers whether the claimant's conduct with regard to the delay caused the defendants to think the money was taken in satisfaction of the claim.

In the present situation, the delay between receipt and communication is likely to be a problem as, after a delay of a month, it is arguable the other side would have thought that the money had been accepted in satisfaction of the claim.

http://www.shoosmiths.co.uk/client-r...ment-8505.aspx

[Ruby]

Re: Secured Loan, Welcome Finance

Thanks for the post Charity. Common sense tells me that if you get a solicitor on board and the F & F settlement is made 'legal' that should be the end of the line .....

DT did just that - she paid 8K through a solicitor. Welcome are so unprofessional or maybe just desperate?!

Little surprises me.

[dogtired]

Re: Secured Loan, Welcome Finance

wrong thread

[dogtired]

Re: Secured Loan, Welcome Finance

Agree Ruby at one time when we moved here had an agent come to the house, despite me telling them they needed an appointment.
One Manger/Agent was really nasty calling me names in a phone call and that they would prove the account existed and we would lose this house.
Two DCAs later they still haven't found or supplied compliant agreements.

Thanks for the post Charity. Common sense tells me that if you get a solicitor on board and the F & F settlement is made 'legal' that should be the end of the line .....

DT did just that - she paid 8K through a solicitor. Welcome are so unprofessional or maybe just desperate?!

Little surprises me.

[dogtired]

Re: Secured Loan, Welcome Finance

Another "we are still investigating and we will respond in eight weeks" letter has arrived today.