Tweet
In October, 2008 we took out a secured loan of £16,715 with Welcome Finance.(Cattles)
Soon after taking out the loan our circumstances changed and payments to them became erratic, but we did our best to keep up.
The last communication I received from Welcome was in September 2013 when they informed me that the outstanding balance was £5829. This letter was quickly followed up by a demand for the same amount from Mackenzie Hall (debt collectors).
I have heard nothing from either party since.
My dilemma is that we are now selling our house (the property the loan was secured on), but there will be no cash left to pay Welcome or the debt collector once the main mortgage is paid.
Can they refuse permission for the property to be sold?
What are my options?
All advice greatly appreciated.
Soon after taking out the loan our circumstances changed and payments to them became erratic, but we did our best to keep up.
The last communication I received from Welcome was in September 2013 when they informed me that the outstanding balance was £5829. This letter was quickly followed up by a demand for the same amount from Mackenzie Hall (debt collectors).
I have heard nothing from either party since.
My dilemma is that we are now selling our house (the property the loan was secured on), but there will be no cash left to pay Welcome or the debt collector once the main mortgage is paid.
Can they refuse permission for the property to be sold?
What are my options?
All advice greatly appreciated.
Comment